Global 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) market finds that the global 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) market reached a value of USD 93.23 million in 2022. It’s expected that the market will achieve USD 11.69 million by 2028, exhibiting a CAGR of -29.25% during the forecast period.

Market Challenges

All over the world, prices for raw materials, energy, operating and transport costs are soaring. Commodity prices have increased from +30-40% to +300-400% for most commodities and specialty chemicals. There seems to be no limit to the increase in shipping prices. And beyond prices, the very availability of certain materials, equipment, spare parts, containers and even electricity remains very uncertain for the coming weeks and months.

Higher demand combined with supply chain problems and limited availability of transport resources increases market uncertainty and increases raw material prices sharply. The cost of raw materials is very important for 2-Nitro-4-(Trifluoromethyl) Benzonitrile manufacturers, as they account for about 70% of the operating costs. If the price of raw materials fluctuates continuously in the future, and the company fails to digest the impact caused by the price fluctuation of raw materials in the downstream market in time, it will adversely affect the company's purchasing and production plan and operating performance.

2-Nitro-4-(Trifluoromethyl) Benzonitrile industry belong to the fine chemical industry, and the main raw materials, some products and three wastes such as wastewater, waste gas and solid waste produced in the production process pollute the environment. If there are environmental pollution accidents caused by improper management in the production process, the enterprise will be punished by the regulatory authorities or compensate other parties for losses. If the regulatory authorities require the company to suspend production for rectification or close some production facilities, it will have a significant adverse impact on the company's production and operation. In addition, with the strengthening of national environmental protection, stricter environmental protection standards will be introduced in the future, and the investment and expenditure of manufacturers in environmental protection will increase correspondingly.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Changzhou Jiayuan Chemical Co., Ltd. is one of the major players operating in the 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) market, holding a share of 40.68% in 2022.

Changzhou Jiayuan Chemical Co., Ltd. is committed to the Research Institute in cooperation with the well-known domestic fluorine chemical industry, professional production and development of fluorine medicine, pesticide intermediates. At the same time the company also engaged in new materials and fluorinated monomer, fluorine fine chemicals research and development, new environmentally friendly refrigerants, pesticide products sales.

Qingdao Union Fine Chemical Co., Ltd. specializes in the manufacture of fine organic chemicals. They have developed more than 100 products including Trifluoromethylbenzene, Organochlorides, and other Aromatic and Heteroaromatic Compounds. Most of these have been used as pharmaceutical and electronic intermediates.

Segmentation Overview:

Among different product types, ≥98% segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Agricultural Uses segment occupied the biggest share from 2018 to 2022.

Key Companies in the global 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) market covered in Chapter 3:

Wuxi Jiabao Pesticide & Pharmaceutical Co., Ltd.
QINGDAO UNION FINE CHEMICAL CO., LTD.
Changzhou Jiayuan Chemical Co., Ltd.
Capot Chemical Co.,Ltd

In Chapter 4 and Chapter 14.2, on the basis of types, the 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) market from 2018 to 2029 is primarily split into:

≥98%<98%

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the 2-Nitro-4-(Trifluoromethyl) Benzonitrile (CAS 778-94-9) market from 2018 to 2029 covers:

Agricultural Uses
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)