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Fluorobenzene Market size is estimated to reach a value of US$4.6 billion by the end of 2027 after growing at a CAGR of around 2.7% from 2022 to 2027.

HYDERABAD, TELANGANA, INDIA, February 6, 2023 /EINPresswire.com/ -- The Fluorobenzene Market size is estimated to reach a value of US$4.6 billion by the end of 2027 after growing at a CAGR of around 2.7% from 2022 to 2027. Fluorobenzene is a chemical compound that is more reactive than chlorobenzene and is highly flammable. It is produced by the reaction of aniline and sodium nitrite in the presence of hydrogen fluoride and is used as an intermediate for insecticides, reagents for plastic & resin polymer and for carbon control in steel manufacturing. Hence, the compound has high applicability in sectors like steel, agriculture, pharmaceutical and plastic. Factors like an increase in the production volume of steel, growing cases of diabetes and an increase in the production of food items on account of high global demand are driving the growth of the Fluorobenzene Market. However, the hazardous nature of fluorobenzene can cause health problems like skin & eye irritation, breathlessness, nausea and damage to kidneys.

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Key takeaways:

This IndustryARC report on the Fluorobenzene market highlights the following areas -

1. Asia-Pacific dominates the global fluorobenzene industry as the region consists of major countries like China and India, which are leading producers of steel, plastics and agrochemicals.

2. The rapid increase in population has increased the global food demand which has increased agricultural production, resulting in more usage of fluorobenzene as an intermediate for insecticides & pesticides.

3. Fluorobenzene which is made in presence of hydrogen fluoride is also used in the pharmaceutical sector as fluorination of fluorobenzene gives 1,2difluorobenzene which is used as material in making medicine.

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Segmental Analysis:

1. Industrial grade fluorobenzene which is more reactive than chlorobenzene is majorly used in agrochemicals like insecticides & pesticides, as reagent in plastic formation and as a carbon controller in steel making. The rapid development in these sectors has increased their level of productivity which has positively impacted the usage of fluorobenzene.

2. Fluorobenzene Market Segment Analysis – by End-user : Fluorobenzene is a relatively inert compound that is majorly used in sectors such as the steel sector to control carbon content during steel manufacturing. The increase in demand for steel from major sectors such as construction & automotive has increased the global production of steel output, which has positively impacted the usage of fluorobenzene in the steel sector.

3. Fluorobenzene Market Segment Analysis – by Geography : Asia-Pacific held the largest share in the Fluorobenzene Market in 2021, with a share of over 35%. The region consists of major economies like China and India which have major end-user industries like steel, plastic and agriculture that majorly uses fluorobenzene.

Competitive landscape:

The top 5 players in the Fluorobenzene industry are:

1. 3M Company
2. Arkema S.A.
3. Biddle Sawyer Corp.
4. Shandong Minglang Chemical Co. Ltd.
5. Luyunjia Chemistry Xiamen Limited.

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