GLOBAL (TRIFLUOROMETHOXY) BENZENE MARKET ANALYSIS

Global (Trifluoromethoxy) benzene Market, by Derivative (Nitro, Halo, Sulfo, and Metal), by Application (Drug Ingredient, Agrochemical, and LCDs and Semiconductors), by End-use Industry (Pharmaceutical, Agricultural, and Electronics), and by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Dynamics:

Increasing use of TFMB in synthesis of drug molecules from pharmaceutical industry is a major factor propelling growth of the TFMB market. TFMB facilitates easy in-vivo uptake and transport of drugs due to its lipophilic nature. TFMB derivatives are used in synthesis of various drug molecules such as anesthetics, cardiovascular diseases (CVDs), and anti-infectives.
According to the fact sheet of World Health Organization on CVDs (2017), CVDs are the number 1 cause of death globally where 17.9 million people died from CVDs in 2016 which represents 31% of all global deaths. Demand of drugs against such disease is increasing as a means of preventive measure to reduce the number of deaths. This in turn is expected to increase demand for TFMB.

Market Outlook:

Among TFMB applications, its use as an agrochemical in pesticides, insecticides, fungicides, herbicide, and plant growth regulators in agricultural sector is expected to propel growth of the market. Moreover, Asia Pacific region is expected to account for the highest market share in the global TFMB market. According to statistics of Food and Agricultural organization, global consumption of pesticides was 4 million tons in 2016, of which 51.2 % share was from Asian countries. Increasing demand for agrochemicals such as pesticides can be attributed to their contribution in improvement of crop yield. This in turn is expected to propel growth of the TFMB market.