NEW YORK, Aug. 27, 2018 (GLOBE NEWSWIRE) -- The global para nitrochlorobenzene (PNCB) market was valued at USD 96.0 million in 2017 and is likely to expand to USD 120.4 million by 2024, witnessing a CAGR of 3.3% over the forecast period. The growth can be primarily attributed to the rising demand for para nitrochlorobenzene across various key applications. Also, significant growth in the pharmaceutical sector, particularly in the emerging economies of the world, is further expected to drive the demand over the forecast period.
Para nitrochlorobenzene is an organic compound which is prepared industrially through the nitration of chlorobenzene. PNCB is light yellow and crystalline solid in appearance. It acts as an intermediate in the production of fine chemicals, particularly dyes, pigments, pesticides, herbicides and several pharmaceutical products. PNCB has a sweet odor, and is highly toxic in nature. These may be available as flakes or in molten form, which may result in storage and transportation problems.
Key findings from the report:
- The global para nitrochlorobenzene (PNCB) market is likely to reach USD 120.4 million by 2024
- Dye segment held the major share of the market in 2017 and is likely to witness a healthy CAGR during 2018 to 2014
- Pharmaceutical segment is expected to hold a significant share of the global market from 2018 to 2024
- Asia-Pacific held the major share of the market in 2017, and is expected to grow at the fastest CAGR over the forecast period
- Some of the key companies operating in the industry include BASF SE; DowDuPont; Akzo Nobel N.V.; Evonik Industries AG; LG Chem. Ltd.; Eastman Chemical Company; Toray Industries; Seya Industries Ltd.; Merck KGaA; Thermo Fisher Scientific; Kutch Chemical Industries Ltd.; among others
Dyes segment accounted for the major share of PNCB market
Para nitrochlorobenzene is majorly used as an intermediate in the production of dyes, dyestuff such as azo dyes and sulphate dyes. Other applications for the product include p-nirphenol, phenacetin, acetaminophen, nitrofen, among others. PNCB is soluble in toluene, ether, acetone, and hot ethanol, while insoluble in water. Dye segment held the largest share of the market in 2017 and the trend is likely to continue over the forecast period.
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PNCB Market - Regional insight
Asia-Pacific emerged as the leading regional market for PNCB in 2017 and is projected to maintain its dominance over the next seven years. The aforementioned growth can be primarily attributed to the rapid industrialization and expanding end-use industries for para nitrochlorobenzene. In addition, the growing pharmaceutical sector in major markets such as China and India has fueled the market growth. Moreover, North America is expected to witness considerable growth over the forecast period.
The report segments para nitrochlorobenzene (PNCB) market on the basis of application, end use, and region.
By Application
- Dyes
- Pesticides
- Rubber chemicals
- Others
By End-Use
- Agriculture
- Pharmaceutical
- Chemicals
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Central & South America (CSA)
- Middle East & Africa (MEA)
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