Benzotrifluoride Market - Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2020 - 2025

 Overview

Global Benzotrifluoride (BTF) 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. 


Report Coverage
The report: “Global 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


Key Takeaways
  • In the Europe region, Germany is the major market for the Benzotrifluoride owing to the developing pharmaceutical sector. 
  • The presence of other alternatives of the Benzotrifluoride is hampering the growth of Benzotrifluoride market share during the forecast period.
  • The outbreak of COVID-19 is also considered as the major restraining factor to market growth over the forecast period. COVID-19 pandemic has badly impacted the global supply chain and the world economy. Besides, Industries are being shuttered all around the globe due to lockdown. Hence, demand is declining for Benzotrifluoride from various industry verticals acts as a restraining factor to market growth. 


Derivatives - Segment Analysis
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.


Application - Segment Analysis
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.

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