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Synthetic & Bio-based Aniline Market to hit $19bn by 2024 | The Chemours Company, Huntsman Corporation, The Dow Chemical Company, Sumitomo Chemical: Group Companies of the Americas, Sinopec Argentina Exploration and Production, Inc., BASF, Wanhua Chemical
Synthetic & Bio-based Aniline Market
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The synthetic & bio-based aniline market is categorized into two processes which are substitution of chlorobenzene and reduction of nitrobenzene. Reduction of nitrobenzene is a more popular process accounting for most of the market in 2016. This segment will generate beyond USD 18 billion by 2024.
According to product, the industry is segmented into bio-based and synthetic types. Bio-based aniline will be commercialized in 2017 and will gain in market share in the later stage of the forecast timespan. Synthetic segment will grow by around 6% CAGR throughout the forecast timespan.
Synthetic & Bio-based Aniline Market by Application
• MDI
• Rubber processing chemicals
• Agrochemicals
• Dyes & pigments
• Others
Synthetic & Bio-based Aniline Market by End-user
• Construction
• Rubber products
• Transportation
• Consumer goods
• Adhesives & sealants
• Packaging industry
• Textile
• Agriculture
• Others
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High growth in Asia Pacific packaging industry will augment the synthetic & bio-based aniline demand throughout the forecast years as the product is a precursor to MDI, which in turn is used in manufacturing polyurethane foams. Polyurethane is extensively used to manufacture rigid as well as flexible plastic packaging materials and their rising demand for interstate to transcontinental transportation of substances boosted by the growing logistics industry will supplement the synthetic & bio-based aniline market up to 2024. The global plastic packaging market was valued at around USD 285 billion in 2016 and is set to exceed 400 billion in 2024.
Browse key industry insights spread across 160 pages with 265 market data tables & 13 figures & charts from the report, “Synthetic & Bio-based Aniline Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/synthetic-and-bio-based-aniline-market
Asia Pacific is a significant regional market which will account for around 40% of the global industry in 2024. Rising polyurethane packaging material production in China along with the fast-developing automobile and construction industries will significantly contribute to the regional synthetic & bio-based aniline market development.
Major manufacturers in the synthetic & bio-based aniline market include Chemours, BASF, Dow Chemicals, Huntsman, Sinopec, Sumitomo Chemical, Tosoh Corporation, Covestro, Hindustan Organic Chemicals, Yantai Wanhua Polyurethane Company, BorsodChem, Jilin Connell Chemical Industry, Volzhsky Orgsintez, Shandong Jinling Group, SP Chemicals, etc.
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