Product Code: RP-ID-10166490 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Chemicals |
Report ID: 10166490
Market Overview:
Global Benzotrifluoride Market Demand Analysis & Opportunity Evaluation, 2019-2027
Market Overview
The global benzotrifluoride market reached USD 382.5 Million in 2018 by registering a CAGR of 3.8% across the globe. Additionally, the market is expected to garner USD 537.5 Million by the end of 2027.
The global demand for benzotrifluoride is increasing on the back of rapid industrialization across the globe. Further, increasing discoveries of new applications of benzotrifluoride and its derivatives in expanding end-user industries is majorly driving the benzotrifluoride market over the forecast period.
Asia Pacific is slated to account for a share of 40.6% in 2018 in the benzotrifluoride market. The growth in the region can be attributed to growing chemical and coatings industry. Increasing adoption of pesticides is also expected to impel the growth of benzotrifluoride market in Asia Pacific. China is the prominent market driving the growth in the region.
Additionally, China benzotrifluoride market reached USD 61.2 Million in 2018 and is expected to reach USD 91.3 Million by the end of 2027, expanding at a CAGR of 4.7% over the forecast period i.e. 2020-2027.
The European market is expected to expand at CAGR of 3.1% during the forecast period of 2020-2027. Europe benzotrifluoride market is projected to reach to a valuation of USD 153.1 Million by the end of 2027 from USD 107.9 Million in 2018. Germany is the major country driving the growth of the market in the region.
Germany accounted for 27.1% market share in Europe benzotrifluoride market in the year 2018. Moreover, Germany benzotrifluoride market is expected to grow at a CAGR of 4.6% over the forecast period.
Mitsubishi International, Navin Fluorine International Ltd., Zhejiang Weihua Chemical Co. and TCI Co., Ltd. are some of the prominent players of benzotrifluoride market.
Navin Fluorine International, Mitsubishi International Polymertrade Corporation, Zhejiang Weihua Chemical, Kingchem Liaoning Chemical, Jiangsu Fenghua Chemical, Tokyo Chemical Industry, Wylson Chem, Haihang Industry, Unique Medchem Laboratories, HE Chemical
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