Benzotrifluoride Market - Forecast(2023 - 2028)

Benzotrifluoride Market size is forecast to reach around $500 million by 2025, after growing at a CAGR of 5% during 2020-2025. BTF appears as a clear colorless liquid with an aromatic odor and belongs to a group of trifluromethyl-substituted aromatic compounds. The demand for Benzotrifluoride is growing due to its more environmentally friendly nature than many other organic solvents. Additionally, the growing demand for Benzotrifluoride for a wide range of chemical reactions like ionic, transition-metal catalyzed, and thermal reaction also contribute to the growth of this market. Moreover, the surging uses of BTF as reaction solvents in both traditional organic and new fluorous synthesis is also driving the growth of Benzotrifluoride market share during the forecast period. 

The report: “Benzotrifluoride Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Benzotrifluoride Industry. 

By Derivatives: Amino Benzotrifluoride (2-Amino Benzotrifluoride, 3-Amino Benzotrifluoride, and Others), Chloro Benzotrifluoride (3, 4- Dichloro Benzotrifluoride, 4-Chloro Benzotrifluoride, and Others), Bromo Benzotrifluoride (4-Bromobenzotrifluoride and Others), Hydroxy Benzotrifluoride (3-Hydroxy Benzotrifluoride and Others), and Others.

By Application: Dyestuffs, Building Material, Additives Plasticizers, Colorants, Lubricants, Greases and Automotive Care, Insulating fluids, Agrochemical (Herbicides, Insecticides, and Pesticide), Paint & Coatings, and Others

By End-Use Industry: Pharmaceuticals, Food & Beverages, Agriculture, Chemical, Automotive, Construction, and Others

By Geography: North America, South America, Europe, APAC, and RoW

The Amino Benzotrifluoride segment holds the largest share of more than 35% in the Benzotrifluoride market in 2019 due to the growing uses of Amino Benzotrifluoride as a vulcanizing agent. Additionally, growing usages of Amino Benzotrifluoride in the production of agrochemicals, dyes and medicines are also contributing to the growth of this segment, which in turn, drives the growth of this market. Moreover, developing healthcare and agrochemical sector in the developing country like China, India, Brazil, Argentina and Mexico are also driving the growth of this market during the forecast period.

The agrochemical applications segment is projected to grow with the highest CAGR of 7% in the global Benzotrifluoride market during the forecast period due to the widely use of pesticides and insecticides in the agriculture sector. Furthermore, increasing demand amongst farmers from developing regions for fertilizers and pesticides in agriculture also contributes to the growth of this market. Moreover, BTF is also used as synthetic intermediates in agricultural products such as herbicides that drive the growth of this segment. Thus, the growing demand for agrochemical products raises the consumption of Benzotrifluoride that in turn contribute to the growth of this market.

The paints and coatings segment is projected to grow with substantial CAGR of 6% in the global Benzotrifluoride market during the forecast period. This is attributed to the growing uses of 4-chlorobenzotrifluoride as an exempt solvent in paint and coating formulations. Furthermore, paint formulators use PCBTF as a tool to comply with ever-tightening VOC regulations is also contributing to the market growth. Besides, growing uses of paints and coatings for various applications like automotive refinishing, metal furniture and appliances, marine coatings, aerospace, conformal coatings, and concrete sealers is also likely to drive the growth of this market during the forecast period.

Among the regions, the APAC holds the largest share of more than 35% in the global Benzotrifluoride market followed by North America and Europe during the forecast period. The growing demand from agriculture and healthcare industries across China and India are fuelling the growth of this market in the APAC region. In the APAC Benzotrifluoride market, China acts as a dominant country owing to a presence of large consumer base, manufacturing sector, and developing industrial sectors like aviation, automotive, agriculture. And pharmaceutical. Furthermore, the growing consumer and e-commerce sectors is also contributing to the growth of the Benzotrifluoride market share across the APAC region. Furthermore, the growing transportation sector, changing lifestyle, and rise in disposables income also contribute to the growth of this market in the APAC region.

The global rise in population coupled with increasing demand for food products to attain domestic self-sufficiency is driving the growth of the agrochemical industry. The growth of the agrochemical industry further propels the growth of this market. Whereas, the trend of using Benzotrifluoride like PCBTF, 2,4-DCBTF and 3,4-DCBTF in various agrochemicals mainly as herbicides and insecticide is driving the market growth. Moreover, the usage of Benzotrifluoride in agrochemicals can be treated as a risk-hedging technique and considered as a safe investment which has led to increased sales of fertilizers and pesticides. Besides, rising consumer demand for sustainably food and growing imperative to protect against crop losses and increase yields further drive the growth of the agrochemical sector.

Benzotrifluoride (BTF) plays a major role in the pharmaceutical industry in the production of drug formulations particularly synthetic drugs is driving the growth of the Benzotrifluoride market during the forecast period. Furthermore, growth in the healthcare spends by the government of the respective nations is also driving the growth of the pharmaceutical industry which in turn drives the growth of this market. Moreover, increasing the application of Benzotrifluoride in the automotive sector as an intermediate material for automotive finishing is also contributing to the growth of this market. Furthermore, the growing sales of eclectic vehicles propel the growth of the automotive sector, which in turn drives the growth of this market. 

Benzotrifluoride is a corrosive chemical and exposed cause many health hazards such as sore throat, coughing, shortness of breath, and delayed lung. Furthermore, Benzotrifluoride is a highly flammable liquid and vapor and can be easily ignited by heat, sparks, or flames. Benzotrifluoride also acts as a toxic to aquatic life with long-lasting effects. Additionally, BTF is not susceptible to direct photolysis hence limits its utilization in the various chemical reactions within the agriculture and pharmaceutical industries, which acts as a restraining factor to the market growth. The hazardous nature and other factors are barriers to the growth of the global Benzotrifluoride market during the forecast period.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Benzotrifluoride market report. In 2019, the market of Benzotrifluoride top 10 companies accounting for xx% of the share. Major players in the Benzotrifluoride industry outlook are Jiangsu Jiamai Chemical Company Limited, Gaoyou Gaoyuan Auxiliary Company Limited, Zhejiang Kangfeng Chemicals Company Limited, Nippon Light Metal Company, INEOS, Changzhou Guanjin Chemical Company Limited, YiDu Jovian Industry Company Limited, Zhejiang Weihua Chemical Company Limited, and Jiangsu ChangSanJiao Fine Chemical Company Limited., among others.