Research Nester has released a report titled “Benzotrifluoride (BTF) Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global benzotrifluoride market in terms of market segmentation by derivative, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global benzotrifluoride market is anticipated to record a CAGR of 3.8% over the forecast period, i.e. 2020 – 2027. The BTF market is segmented by derivative into aminobenzotrifluoride, chlorobenzotrifluoride, bromobenzotrifluoride, and hydroxybenzotrifluoride, out of which, chlorobenzotrifluoride is anticipated to hold the largest market share of around 50% by 2027, on the back of varied range of application in the end user industries and in the manufacturing of adhesive compounds, which are used in clothing, building materials, and others.
The market is further segmented by end user into chemical, pharmaceutical, agricultural, coating and others, out of which, the chemical industry segment is anticipated to hold largest market share of around 44%, on the back of varied range of application so as to obtain chemical compounds, for instance, dyes, chemicals and cleansers among others. Also, BTF are used as chemical solvents for organic compounds and fluorous synthesis, as well as in paints for moisture cure and alkyd resins. The segment is also anticipated to reach USD 236.4 Million from USD 157.8 Million in-between 2018 and 2027, growing at a growth rate of 1.50x.
Regionally, the global BTF market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific is expected to hold largest market share of around 41% in the year 2018, on the back of rise in the consumption of fertilizers and pesticides in agriculture by nations, such as India and China among others, added with the increasing spend in healthcare by the nations of the region. The growth of the market in the region is anticipated to record a CAGR of 4.2% over the forecast period.
Increasing Application Of BTF In End User Industries
Benzotrifluoride finds a wide array of application in the end-user industries, for instance, agriculture and pharmaceutical among others. In the manufacturing of pesticides and in other agricultural products, BTF has been one of the key manufacturing ingredient for greater yield of crops. Moreover, the chemical compound is also wide used in formulation of synthetic drugs in the pharmaceutical industry, as well as to manufacture automotive finishing goods. The ability of the chemical compound for varied utilization across industries is raising the demand for higher consumption of the chemical compound in the industries, which is anticipated to drive the growth of the global BTF market throughout the forecast period.
However, concerns for the hazardous nature of the compound, which also makes it highly inflammable, as well as the negative effects it can cause to human and aquatic life, is expected to operate as key restraints to the growth of the global BTF market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global BTF market, which includes company profiling of Navin Fluorine International Limited (NSE: NAVINFLUOR), Mitsubishi International PolymerTrade Corporation, Zhejiang Weihua Chemical Co., Ltd., Kingchem Life Science LLC, Jiangsu Fenghua Chemical Industrial Co., Ltd., Tokyo Chemical Industry Co., Ltd., Wylson-Chem Co., Ltd., Haihang Industry Co., Ltd., UNIQUE Laboratories, Inc., and HE Chemical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global BTF market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.