Benzotriazole Market
Benzotriazole Market Analysis, By Application (Plastics, Coatings, Adhesives, Personal Care, Others), and Region - Global Market Insights 2023 to 2033
Analysis of Benzotriazole Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Benzotriazole Market Outlook (2023 to 2033)
The global benzotriazole market is valued at US$ 400 million in 2023 and is set to reach US$ 900 million by 2033, expanding rapidly at a CAGR of 8.4% during the forecast period (2023 to 2033).
Benzotriazole (BTA) is an organic compound that is also known as 1- benzotriazole-3- carboxylate. It is triazole in structure, with an oxygen bridge connecting the two rings. Benzotriazole is a white crystalline substance with a slight odor. Benzotriazole can be manufactured through chemical synthesis or fermentation of microorganisms such as yeast.
It is extensively employed as a metal anticorrosive and UV stabilizer additive in a variety of industrial and commercial applications. Benzotriazole has been shown to be an effective corrosion inhibitor for a wide range of metals and alloys, including copper, brass, solder, steel, aluminum, and cast iron, in applications such as heat exchangers, automatic radiators, and heating systems. Benzotriazole is commonly used as a corrosion inhibitor for copper and copper alloys.
Copper can withstand a wide range of corrosive environments. However, under some conditions, it tarnishes or corrodes, thereby degrading the product standards. In recent years, researchers have demonstrated that benzotriazole can be used to create a tarnish or corrosion management system for copper, bronze, and brass.
Benzotriazole creates a highly bonded chemisorbed two-dimensional barrier coating less than 50 angstroms thick. This insoluble film, which can be a monomolecular layer, safeguards copper and its alloys in different atmospheres, aqueous environments, hydraulic fluids, and lubricants. Benzotriazole also creates insoluble precipitates with copper ions in the solution, preventing steel and aluminum corrosion in other water system areas.
Many researchers investigated the tarnishing of copper and copper alloys in humid settings and the prospect of stain prevention through interaction with triazole-type compounds. They reported the features of commercially available benzotriazole and the reactivity of this class of molecule with copper ions.
- According to the article "Control of Surface Reaction on Copper Using Organic Reagents," the nitrogen-hydrogen group, as well as at least one of the other nitrogens in the ring, is engaged in the complicated bonding arrangements to copper. Polymeric chains or monomolecular plate-like complexes entirely cover a clean metal surface, providing great protection. In the more common situation, benzotriazole fills gaps and flaws in the copper oxide surface film.
The utilization of benzotriazole and other corrosion inhibitors, such as tolutriazole, represents a significant advancement in the quest for corrosion inhibitors. It reveals that the formation of true chemical bonds can achieve efficient inhibition.
Benzotriazole has also been shown to be useful in paints, inks, and pigmented lacquers.
- For instance, a bronze lacquer comprising 4g of bronze pigment powder and 100 g of cellulose nitrate clear lacquer was divided, and 1% benzotriazole was applied to one portion. The untreated fraction had turned dark green after three days of aging, but the treated fraction had not.
Due to such benefits, Fact.MR, a market research and competitive intelligence provider, predicts that global demand for benzotriazole will grow significantly during the forecast period.
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| Details | |
|---|---|
| Benzotriazole Market Size in 2023 | US$ 400 Million |
| Projected Market Value (2033) | US$ 900 Million |
| Global Market Growth Rate (2023 to 2033) | 8.4% CAGR |
| United States Market Value (2022) | US$ 96 Million |
| Leading Application Segment | Plastics |
| Key Companies Profiled | Beijing Wisdom Chemicals; Nanjing Trust Chem; Seiko Chemical; Hangzhou Jingyou Chemical; Nanjing Shenbai Far East Chemica; Rugao Jinling Chemical; Shivam Chemicals |
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Why is the Benzotriazole Industry Rising Swiftly?
“Growing Demand for Ultraviolet Stabilizers”
Prolonged exposure of plastics and polymers to UV radiation can result in photo-degradation. The photo-degradation process occurs when a polymer is exposed to UV rays for an extended period, weakening the substance's physical properties, like material strength loss, color change, elongation, and tensile strength properties, or chalking of substances. As a consequence, manufacturers use UV stabilizers to safeguard sensitive components from degradation.
UV stabilizers absorb radiation from the sun or artificial light sources and neutralize the light rays, thereby improving the material's strength by reducing cracks in the products. UV stabilizers are also employed in outdoor and indoor applications such as coating and paint products.
Benzotriazole is widely used as a UV stabilizer. Benzotriazole-based UV stabilizers are used to protect polymers against UV radiation in different industries such as packaging, automotive, and personal care, among others.
Automobile manufacturers are continually looking for new ways to safeguard the external coatings of their automobiles. Benzotriazole-based UV stabilizers serve an important function in preserving automotive coatings from sun exposure. Benzotriazole-based UV stabilizers are essential in reducing the long-term consequences of oxidation and heat. As a result of these reasons, the demand for benzotriazole-based UV stabilizers in automotive is predicted to expand steadily over the forecast period.
Country-wise Insights
Why is the United States at the Forefront of the North American Market?
“Increasing Usage of Benzotriazole-based UV Stabilizers”
North America is leading the global market for benzotriazole and is projected to continue during the study period. UV light causes harm by breaking chemical bonds or creating mutations that can cause cancer or other diseases; it also damages many electronic device components, rendering them inoperable if exposed for an extended period. As a result, manufacturers in this region are focusing on benzotriazole-based UV stabilizers to safeguard their completed goods from UV radiation exposure.
The United States market garnered US$ 96 million in 2022. The United States is contributing substantially to the regional market due to increased awareness about the negative effects of UV radiation on living beings.
- According to the American Academy of Dermatology, 9,730 people were affected by melanoma cancer in 2021.
This has increased the use of cosmetic goods containing benzotriazole-based UV stabilizers.
Why are Japan & South Korea Witnessing High Demand for Benzotriazole?
“Rising Sales of PVC Products”
The Asia Pacific market is growing at a rapid pace. Asia Pacific is the leading producer of plastic components used in automotive and packaging. The region also has a well-established automobile manufacturing industry, accounting for around 50% of global manufacturing.
Japan and South Korea are witnessing an increasing demand for benzotriazole due to growing sales of PVC products in these countries.
Which Factor is Boosting the Market for Benzotriazole in Germany?
“Booming Automotive Industry in the Country”
The European market is experiencing considerable growth. Germany is significantly supporting the regional market. The rapidly expanding automotive industry in Germany is increasing the demand for benzotriazole.
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Category-wise Insights
Why is Benzotriazole Extensively Used in Plastics?
“Superior Performance and Durability Aspects”
Plastic is widely used in industries such as packaging, automotive, and construction, among others. Benzotriazole-based UV stabilizers are employed in the production of clear plastics, which are in high demand in the aforementioned industries due to features such as durability and clarity.
Benzotriazole-based UV stabilizers are employed in outdoor applications due to their superior performance and extensive spectrum coverage in both the UV-A and UV-B regions.
When exposed to UV radiation, plastics such as polycarbonate and polyvinyl chloride deteriorate. UV radiations cause chemical reactions in plastics, resulting in the degradation and loss of chemical and physical qualities, necessitating the use of benzotriazole-based UV stabilizers for quality control.
Competitive Landscape
Key players in the benzotriazole market are focusing on new developments and technologies, strategies, product innovations, and long-term contracts to gain market share. Moreover, the global market is providing numerous opportunities for small manufacturers and startups to develop innovative solutions.
- In January 2022, Emerald Performance Materials listed four chemical plants in Henry, Illinois, for sale. Formerly, the processing and production units were utilized to develop antioxidants, accelerators, and specialized chemicals. Emerald's operations were officially suspended in September 2021 following the company's acquisition by the New York-based private equity firm American Securities LLC.
- In October 2021, Azelis signed a new distribution agreement with Hexigone, a corrosion inhibitor manufacturer in the United Kingdom. Hexigone corrosion inhibitors will be sold by Azelis throughout Europe, Ukraine, Turkey, and the Baltics. Azelis' Hexigone line of products is intended to allow the company to deliver unique anti-corrosion coatings and applications. As per Azelis, Hexigone's focus on sustainability, including the replacement of traditional heavy metals, phosphates, and toxic chromates with manufactured organic additives, is consistent with the company's commitment to sustainability.
- Shenzhen Xingshengdi New Materials Co., Ltd. used the plastic material in June 2021 to manufacture 5G base stations for key international telecommunications corporations. BASF's plastic additives protect the base stations from UV rays. The business was successful in creating benzotriazole-based UV stabilizers that could stabilize plastics against UV radiation.
- In February 2021, LANXESS entered a contractual agreement to buy 100% Emerald Kalama Chemical. The US-based company is a global leader in the production of specialty chemicals, particularly for the consumer market, and is majority-owned by members of the American Securities LLC private equity group.
- Valtris Specialty Chemicals increased its production of benzotriazole in Europe in Feb 2021. This advancement enables the corporation to grow UV stabilizer output and income in the near future.
- In December 2020, SONGWON Industrial Co., Ltd. announced a collaboration with Disheng Technology Co., Ltd. to produce some of its extensive line of UVA light stabilizers.
- Clariant AG formed a joint venture with Beijing Tiangang Auxiliary Co. Ltd. in December 2020 to establish a plastics and textile stabilizer manufacturing facility. This joint venture will focus on merging both firms' technology and production knowledge to provide process and light stabilizers.
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Key Segments of Benzotriazole Industry Research
-
By Application:
- Plastics
- Coatings
- Adhesives
- Personal Care
- Others
-
By Region:
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Outlook, by Region
- 4. Market Trend Analysis, 2023 to 2033
- 5. Global Market Analysis and Forecast, by Application, 2023 to 2033
- 5.1. Plastics
- 5.2. Coatings
- 5.3. Adhesives
- 5.4. Personal Care
- 5.5. Others
- 6. Global Market Analysis and Forecast, by Region, 2023 to 2033
- 6.1. North America
- 6.2. Europe
- 6.3. Asia Pacific
- 6.4. Middle East & Africa
- 6.5. Latin America
- 7. North America Market Analysis and Forecast, 2023 to 2033
- 8. Europe Market Analysis and Forecast, 2023 to 2033
- 9. Asia Pacific Market Analysis and Forecast, 2023 to 2033
- 10. Latin America Market Analysis and Forecast, 2023 to 2033
- 11. Middle East & Africa Market Analysis and Forecast, 2023 to 2033
- 12. Competition Landscape
- 12.1. Beijing Wisdom Chemicals
- 12.2. Nanjing Trust Chem
- 12.3. Seiko Chemical
- 12.4. Hangzhou Jingyou Chemical
- 12.5. Nanjing Shenbai Far East Chemical
- 12.6. Rugao Jinling Chemical
- 12.7. Shivam Chemicals
- 13. Assumptions & Acronyms Used
- 14. Research Methodology
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List Of Table
Table 1: Global Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 2: Global Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 3: Global Market Value (Mn) Analysis, 2023 to 2033
Table 4: Global Market Value (Mn) Analysis, 2023 to 2033
Table 5: Global Market Value (Mn) Forecast, by Region, 2023 to 2033
Table 6: Global Market Value (Mn) Forecast, by Region, 2023 to 2033
Table 7: North America Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 8: North America Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 9: North America Market Value (Mn) Analysis, 2023 to 2033
Table 10: North America Market Value (Mn) Analysis, 2023 to 2033
Table 11: North America Market Value (Mn) Forecast, by Country, 2023 to 2033
Table 12: North America Market Value (Mn) Forecast, by Country, 2023 to 2033
Table 13: United States Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 14: United States Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 15: United States Market Value (Mn) Analysis, 2023 to 2033
Table 16: United States Market Value (Mn) Analysis, 2023 to 2033
Table 17: Canada Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 18: Canada Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 19: Canada Market Value (Mn) Analysis, 2023 to 2033
Table 20: Canada Market Value (Mn) Analysis, 2023 to 2033
Table 21: Europe Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 22: Europe Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 23: Europe Market Value (Mn) Analysis, 2023 to 2033
Table 24: Europe Market Value (Mn) Analysis, 2023 to 2033
Table 25: Europe Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 26: Europe Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 27: Germany Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 28: Germany Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 29: Germany Market Value (Mn) Analysis, 2023 to 2033
Table 30: Germany Market Value (Mn) Analysis, 2023 to 2033
Table 31: United Kingdom Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 32: United Kingdom Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 33: United Kingdom Market Value (Mn) Analysis, 2023 to 2033
Table 34: United Kingdom Market Value (Mn) Analysis, 2023 to 2033
Table 35: France Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 36: France Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 37: France Market Value (Mn) Analysis, 2023 to 2033
Table 38: France Market Value (Mn) Analysis, 2023 to 2033
Table 39: Italy Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 40: Italy Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 41: Italy Market Value (Mn) Analysis, 2023 to 2033
Table 42: Italy Market Value (Mn) Analysis, 2023 to 2033
Table 43: Spain Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 44: Spain Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 45: Spain Market Value (Mn) Analysis, 2023 to 2033
Table 46: Spain Market Value (Mn) Analysis, 2023 to 2033
Table 47: Russia & CIS Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 48: Russia & CIS Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 49: Russia & CIS Market Value (Mn) Analysis, 2023 to 2033
Table 50: Russia & CIS Market Value (Mn) Analysis, 2023 to 2033
Table 51: Rest of Europe Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 52: Rest of Europe Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 53: Rest of Europe Market Value (Mn) Analysis, 2023 to 2033
Table 54: Rest of Europe Market Value (Mn) Analysis, 2023 to 2033
Table 55: Asia Pacific Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 56: Asia Pacific Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 57: Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 58: Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 59: Asia Pacific Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 60: Asia Pacific Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 61: China Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 62: China Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 63: China Market Value (Mn) Analysis, 2023 to 2033
Table 64: China Market Value (Mn) Analysis, 2023 to 2033
Table 65: Japan Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 66: Japan Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 67: Japan Market Value (Mn) Analysis, 2023 to 2033
Table 68: Japan Market Value (Mn) Analysis, 2023 to 2033
Table 69: India Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 70: India Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 71: India Market Value (Mn) Analysis, 2023 to 2033
Table 72: India Market Value (Mn) Analysis, 2023 to 2033
Table 73: ASEAN Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 74: ASEAN Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 75: ASEAN Market Value (Mn) Analysis, 2023 to 2033
Table 76: ASEAN Market Value (Mn) Analysis, 2023 to 2033
Table 77: Rest of Asia Pacific Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 78: Rest of Asia Pacific Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 79: Rest of Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 80: Rest of Asia Pacific Market Value (Mn) Analysis, 2023 to 2033
Table 81: Latin America Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 82: Latin America Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 83: Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 84: Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 85: Latin America Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 86: Latin America Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 87: Brazil Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 88: Brazil Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 89: Brazil Market Value (Mn) Analysis, 2023 to 2033
Table 90: Brazil Market Value (Mn) Analysis, 2023 to 2033
Table 91: Mexico Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 92: Mexico Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 93: Mexico Market Value (Mn) Analysis, 2023 to 2033
Table 94: Mexico Market Value (Mn) Analysis, 2023 to 2033
Table 95: Rest of Latin America Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 96: Rest of Latin America Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 97: Rest of Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 98: Rest of Latin America Market Value (Mn) Analysis, 2023 to 2033
Table 99: Middle East & Africa Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 100: Middle East & Africa Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 101: Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
Table 102: Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
Table 103: Middle East & Africa Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 104: Middle East & Africa Market Value (Mn) Forecast, by Country and Sub-region, 2023 to 2033
Table 105: GCC Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 106: GCC Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 107: GCC Market Value (Mn) Analysis, 2023 to 2033
Table 108: GCC Market Value (Mn) Analysis, 2023 to 2033
Table 109: South Africa Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 110: South Africa Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 111: South Africa Market Value (Mn) Analysis, 2023 to 2033
Table 112: South Africa Market Value (Mn) Analysis, 2023 to 2033
Table 113: Rest of Middle East & Africa Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 114: Rest of Middle East & Africa Market Value (Mn) Forecast, by Application, 2023 to 2033
Table 115: Rest of Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
Table 116: Rest of Middle East & Africa Market Value (Mn) Analysis, 2023 to 2033
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List Of Figures
Figure 1: Global Market Price Trend, by Region, 2023 to 2033 (US$/Ton)
Figure 2: Global Market Value Share, by Application, 2022, 2027, and 2033
Figure 3: Global Market Attractiveness, by Application
Figure 4: Global Market Value Share, Analysis, 2022, 2027, and 2033
Figure 5: Global Market Attractiveness, Analysis
Figure 6: Global Market Value Share, by Region, 2022, 2027, and 2033
Figure 7: Global Market Attractiveness, by Region
Figure 8: North America Market Value Share, by Application, 2022, 2027, and 2033
Figure 9: North America Market Attractiveness, by Application
Figure 10: North America Market Value Share, Analysis, 2022, 2027, and 2033
Figure 11: North America Market Attractiveness, Analysis
Figure 12: North America Market Value Share, by Country, 2022, 2027, and 2033
Figure 13: North America Market Attractiveness, by Country
Figure 14: Europe Market Value Share, by Application, 2022, 2027, and 2033
Figure 15: Europe Market Attractiveness, by Application
Figure 16: Europe Market Value Share, Analysis, 2022, 2027, and 2033
Figure 17: Europe Market Attractiveness, Analysis
Figure 18: Europe Market Value Share, by Country and Sub-region, 2022, 2027, and 2033
Figure 19: Europe Market Attractiveness, by Country and Sub-region
Figure 20: Asia Pacific Market Value Share, by Application, 2022, 2027, and 2033
Figure 21: Asia Pacific Market Attractiveness, by Application
Figure 22: Asia Pacific Market Value Share, Analysis, 2022, 2027, and 2033
Figure 23: Asia Pacific Market Attractiveness, Analysis
Figure 24: Asia Pacific Market Value Share, by Country and Sub-region, 2022, 2027, and 2033
Figure 25: Asia Pacific Market Attractiveness, by Country and Sub-region
Figure 26: Latin America Market Value Share, by Application, 2022, 2027, and 2033
Figure 27: Latin America Market Attractiveness, by Application
Figure 28: Latin America Market Value Share, Analysis, 2022, 2027, and 2033
Figure 29: Latin America Market Attractiveness, Analysis
Figure 30: Latin America Market Value Share, by Country and Sub-region, 2022, 2027, and 2033
Figure 31: Latin America Market Attractiveness, by Country and Sub-region
Figure 32: Middle East & Africa Market Value Share, by Application, 2022, 2027, and 2033
Figure 33: Middle East & Africa Market Attractiveness, by Application
Figure 34: Middle East & Africa Market Value Share, Analysis, 2022, 2027, and 2033
Figure 35: Middle East & Africa Market Attractiveness, Analysis
Figure 36: Middle East & Africa Market Value Share, by Country and Sub-region, 2022, 2027, and 2033
Figure 37: Middle East & Africa Market Attractiveness, by Country and Sub-region
Figure 38: Global Market Share Analysis, by Company, 2020
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the current size of the benzotriazole market?
The global benzotriazole market has reached a valuation of US$ 400 million in 2023.
What is the projected size of the market for benzotriazole?
Worldwide sales of benzotriazole are estimated to hit US$ 900 million by 2033.
What is the predicted growth rate for the global market?
Global demand for benzotriazole is expected to rise at a CAGR of 8.4% from 2023 to 2033.
What was the market size of the United States in 2022?
The United States market for benzotriazole was worth US$ 96 million in 2022.
Who are the major players in the global benzotriazole market?
Beijing Wisdom Chemicals, Nanjing Trust Chem, Seiko Chemical, Hangzhou Jingyou Chemical, Nanjing Shenbai Far East Chemica, Rugao Jinling Chemical, and Shivam Chemicals are key manufacturers of benzotriazole.
Benzotriazole Market