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Press Release

Dec, 08 2023

Increasing Demand for Agrochemicals is Expected to drive the Growth of the Global Fluorobenzene Market

A fluorine atom is substituted for one of the hydrogen atoms in benzene to create the chemical compound known as fluorobenzene. It is a member of the aromatic chemical family and has the molecular formula C6H5F. This colorless liquid is used as a solvent in several organic compound synthesis processes. Fluorobenzene's distinct aromatic ring structure makes it useful in agrochemicals, medicines, and other production processes. As such, it is a vital component of the broader chemical industry. Since fluorobenzene has an unusual aromatic fluorinated structure, it is used to synthesize specialized chemicals, agrochemicals, and medicines. Its inclusion aids in the creation of high-performance compounds and materials by improving molecular characteristics. The compound's reactivity and adaptability make it a useful part of many industrial processes, enabling advances in the production of chemicals and pharmaceuticals.

Access Full Report @ https://www.databridgemarketresearch.com/reports/global-fluorobenzene-market

Data Bridge Market Research analyzes that the Global Fluorobenzene Market is expected to grow with a CAGR of 4.2% from 2024 to 2031 and is expected to reach USD 355,632.83 thousand by 2031.

Key Findings of the Study

Fluorobenzene Market

Increasing demand for agrochemicals

Agrochemical demand continues to rise, driven by the need for crop protection and yield enhancement. Agrochemicals, which include pesticides, herbicides, and fertilizers, are essential for protecting crops from pests, diseases, and weeds while ensuring abundant harvests.

For instance, fluroxypyr, a pesticide based on fluorobenzene, is still frequently used in agriculture. The ability of fluorobenzene derivatives to eliminate broadleaf weeds without hurting crops indicates the vital role that fluorobenzene compounds play in crop protection. This shows that the use of fluorobenzene in agriculture includes the application of herbicides.

The need for food security has grown as the world's population continues to rise. Farmers are forced to increase crop productivity due to the growing demand for food. Agrochemicals, powered by compounds based on fluorobenzene are essential to this effort to prevent losses from pests and diseases. The use of agrochemicals is rising in popular nations such as China and India where feeding people is a top priority. Pesticides and herbicides containing fluorobenzene continue to be a mainstay of initiatives to increase agricultural productivity.

Fluorobenzene derivative-enriched agrochemicals are essential for maintaining and improving agricultural practices as the world's population continues to rise and food security remains a top priority. The agrochemical industry's ongoing innovations, supported by formulations based on fluorobenzene, are anticipated to fuel the market's expansion in the upcoming years. Therefore, the need for agrochemicals continues to be a major factor propelling the market growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016- 2021)

Quantitative Units

Revenue in USD, Volume in Metric Tons

Segments Covered

Purity (99% to 99.9% and Greater than 99.9%), Application (Pharmaceutical Intermediates, Agrochemicals, Solvents, Polymer Production, Industrial Chemicals, Reagents, Dyes and Others)

Countries Covered

U.S., Canada, Mexico, China, India, Japan, South Korea, Indonesia, Australia & New Zealand, Malaysia, Thailand, Singapore, Philippines, Rest of Asia-Pacific, Germany, France, Italy, Russia, U.K., Spain, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, United Arab Emirates, Egypt, Israel, Rest of Middle East and Africa

Market Players Covered

Azelis Group (Belgium), Kishida Chemical Co., Ltd. (Japan), KANTO KAGAKU (Japan), CHEMOS GmbH & Co. KG (Germany), Xiangshui Xinlianhe Chemical Co., Ltd. (China), Shandong Fore Co., Ltd. (China), Nacalai Tesque Inc. (Japan), Fuxin Hongchang Chemical Co., Ltd. (China), Hridaan Pharma Chem. (India), Regal Remedies Limited (India), Tokyo Chemical Industry Co., Ltd. (Japan), Muby Chemicals (India), Haihang Industry (China), Molekula Group (U.K.), and A. B. ENTERPRISES (India), among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis

The global fluorobenzene market is segmented into two notable segments based on purity and application

  • On the basis of purity, the market is segmented into 99% to 99.9% and greater than 99.9%

In 2024, the 99% to 99.9% segment of purity is expected to dominate the global fluorobenzene market

In 2024, the 99% to 99.9% segment is expected to dominate the market with a market share of 74.98% due to increasing demand for superior quality and tailored applications in pharmaceuticals, electronics, and agrochemicals

  • On the basis of application, the market is segmented into pharmaceutical intermediates, agrochemicals, solvents, polymer production, industrial chemicals, reagents, dyes, and others

In 2024, the pharmaceutical intermediates segment of application is expected to dominate the global fluorobenzene market

In 2024, the pharmaceutical intermediates segment is expected to dominate the market with a 27.54% market share due to its heightened demand for essential applications in pharmaceutical manufacturing, reflecting industry growth and specialization

Major Players

Data Bridge Market Research analyses Azelis Group (Belgium), Kishida Chemical Co., Ltd. (Japan), KANTO KAGAKU (Japan), CHEMOS GmbH & Co. KG (Germany), and Xiangshui Xinlianhe Chemical Co., Ltd. (China) as the major market players in the global fluorobenzene market.

Fluorobenzene Market

Market Development

  • In February 2020, the new lab and manufacturing facility was completed by CHEMOS GmbH & Co. KG. The new area is outfitted with cutting-edge ventilation technology that generates overpressure to prevent dust contamination. This allows the company to focus more on its tailored solution operations for pharma and food

Regional Analysis

Geographically, the countries covered in the global fluorobenzene market report are U.S., Canada, Mexico, China, India, Japan, South Korea, Indonesia, Australia & New Zealand, Malaysia, Thailand, Singapore, Philippines, Rest of Asia-Pacific, Germany, France, Italy, Russia, U.K., Spain, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe, Brazil, Argentina, Rest of South America, Saudi Arabia, South Africa, United Arab Emirates, Egypt, Israel, Rest of Middle East and Africa

As per Data Bridge Market Research analysis:

Asia-Pacific is expected to dominate and be the fastest-growing region in the global fluorobenzene market

Asia-Pacific is expected to dominate and be the fastest-growing region in the global fluorobenzene market due to its industrial growth and increasing demand for pharmaceuticals and electronics.

For more detailed information about the global fluorobenzene market report, click here – https://www.databridgemarketresearch.com/reports/global-fluorobenzene-market


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