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The Allyl Chloride Market size is anticipated surpass USD 2,845.1 million by 2030 and record a CAGR 4.11% CAGR over 2022-2030. Allyl chloride, a pungent chemical smelling chemical. The use of the chemical as a base for producing epichlorohydrin, glycerin, and other derivatives is likely to boost the allyl chloride market growth till 2030.
The increasing use of allyl chloride derivatives across numerous end-use industries is expected to fuel the market growth. This is exemplified by the demand for epoxy resins, derived with the help of allyl chloride, in building & construction and aerospace & defense industries. In addition, the need for quaternary ammonium salts for wastewater management is another driver of the allyl chloride market. For instance, food & beverage manufacturers are investing in water management projects owing to demand for freshwater.
Rising demand for epoxy resins in end-use industries is likely to boost the market growth. The automotive sector, for instance, requires these prepolymers for producing coatings which can resist corrosion and extreme temperatures. But strict environment policies regarding the production of the chemical coupled with production of bio-based epichlorohydrin as an alternative can pose a challenge to the allyl chloride market.
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The allyl chloride market is divided on the basis of different applications of the compound.
Allyl chloride finds extensive applications in epichlorohydrin, water treatment chemicals, allyl amines, allyl sulfonates, glycidyl ether, and others. Epichlorohydrin accounted for a major proportion of the 2022 allyl chloride market share and was valued at nearly USD 1,974.1 million. The leading factor that contributed to this growth is the use of epichlorohydrin in the formation of epoxy resins which find ample demand from various industries including aerospace and defense, building & construction, electrical and electronics and automotive. Estimates argue that the segment can amass nearly USD 2,503.7 million by 2030 due to the expansion of the industries that use epoxy resins.
Since sustainability and environmental conservation are become the two overriding themes that are expected to shape the future almost every industry in the coming years, water treatment has become a compulsory feature in industries that produce waste water. Allyl chloride finds extensive application in water treatment chemicals and therefore this segment accounted for the second-biggest share in the allyl chloride market in 2022 and anticipated to record a 4.33% CAGR over the forecast period to amass approximately USD 104.8 million by 2030. Freshwater reserves are shrinking, a factor that has created a vast growth scope for allyl chloride market due to the fact the compound can be very effectively used in quaternary ammonium salts production. Significantly, quaternary ammonium salts are vital water management component.
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Geographic segmentation of the allyl chloride market includes North America, Latin America, Europe, Asia Pacific and the Middle East & Africa (MEA).
Expansive industrialization in APAC region will have significant impact on the allyl chloride market as is evident from the 2022 estimation that the region accounted for 51% market share. Industrialization in countries like Singapore, Indonesia, and Thailand will be contributing to the growth. Exponential growth in population in developing economies located in the region coupled with increased investment in desalination and water treatment are anticipated to boost the APAC allyl chloride market valuation to USD 1,526 million by 2030.
The Europe allyl chloride market size was estimated to be USD 464.5 million in 2022. Considering that the region has a robust presence of aerospace and automotive industries, nearly 449.1 Kilotons of allyl chloride are expected to be in demand by 2023. Therefore, the market valuation is predicted to surpass USD 555.1 million by 2030, registering a CAGR of 3.11% over the forecast period.
North America will witness similar trends to that of Europe and market valuation is projected to surpass USD 493.9 million by 2023 in the region with a CAGR of 3.35% over the forecast period. The region will demand almost the same value of allyl chloride by 2023 amounting to almost 407 Kilotons.
Some of the prominent competitors in the allyl chloride market include Sumitomo Chemical Co., Ltd., Osaka Soda, Alfa Aesar, Kashima Chemical Co., Ltd., Rizho Lanxing Chemical Industry Co., Ltd., DowDuPont, Gelest, Inc., Solvay, Olin Corporation and others.
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Sicomin, formulator and supplier of epoxy resin systems and high-performance composite solutions has announced the qualification of its epoxy infusion resins and adhesive products for the series production of Candela’s new all-electric foiling boat.