Global Aniline Market Expected to Reach 10 Million Tons by 2023

The global aniline market has witnessed positive growth over the past few years. The various growth-inducing factors include rising demand for polyurethane rigid foams and gasoline, rapid industrialization, and increasing usage of aniline as a metal corrosion inhibitor.

According to the latest report by IMARC Group, titled “Aniline Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global aniline market volume crossed 7 Million Tons in 2017. Aniline, with the chemical formula C6H5NH2, is an organic compound prepared by the catalytic hydrogenation of nitrobenzene. It is an aromatic amine with an unpleasant odor and low water solubility. Aniline is a weak base which creates salts when used with mineral acids. It can be used for various purposes which include the production of other chemicals that are further used for manufacturing polymers, dyes and pesticides. It also acts as a vital ingredient in different rubber processing chemicals including 4-aminodiphenylamine.

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Market Trends:

There has been a significant rise in the demand for polyurethane rigid foams in construction, automotive and plastic applications which is giving a boost to the growth of the aniline market. Additionally, aniline is increasingly being used in pharmaceuticals and photographic chemicals which is acting in favor of the market growth. As it is used in the form of a solvent and gasoline anti-knock additive, rapid industrialization and escalating demand for gasoline, specifically in developing nations, is propelling the growth of the market across the globe. Moreover, rising utilization of aniline as a metal corrosion inhibitor is another factor which is presenting market players with numerous growth opportunities. However, EPA has revised the labeling for aniline as a carcinogen which can hamper the growth of the market. Looking forward, the market volume is projected to exceed 10 Million Tons by 2023, expanding at a CAGR of 5.3% during 2018-2023.

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Global Aniline Market Segmentation:

Market Breakup by Technology

1. Vapour-Phase Process

2. Liquid-Phase Process

The aniline market has been segmented on the basis of technology which mainly includes the vapor phase process and liquid phase process. Currently, vapor phase process is the most popular technology used in the market.

Market Breakup by Application

1. Methylene Diphenyl Diisocyanate (MDI)

2. Others

The report has categorized the market according to various applications of aniline including methylene diphenyl diisocyanate (MDI) and others. At present, aniline is majorly utilized for manufacturing methylene diphenyl diisocyanate (MDI) which is further used in the production of rigid and flexible polyurethane (PU) sealants, foams, coatings, elastomers and adhesives.

Market Breakup by End-Use Industry

1. Insulation

2. Rubber Products

3. Consumer Goods

4. Transportation

5. Packaging

6. Agriculture

7. Others

On the basis of end-use, the market has been segregated into insulation, rubber products, consumer goods, transportation, packaging and agriculture. Amongst these, aniline is most commonly used in insulation.

Market Breakup by Region

1. Asia Pacific

2. Europe

3. North America

4. Middle East and Africa

5. Latin America

From a geographical standpoint, it has been noted that Asia Pacific is the leading market for aniline, holding the majority of the total share. This can be attributed to the flourishing industrial sector along with rising investments in the chemical industry in countries like India and China. Asia Pacific is followed by Europe, North America, Middle East and Africa, and Latin America.

Competitive Landscape

The competitive landscape of the global aniline market has also been examined with some of the key players being BASF Corporation, Bayer Material Science, Borsodchem Mchz, Ei Dupont De Nemours, First Chemical Corporation, Jilin Connell Chemical Industry Co., Ltd., Hindustan Organics Chemicals Limited, Huntsman International, Mitsubishi Chemical, Mitsui Chemical, Narmada Chematur Petrochemicals Limited, PetroChina Co. Ltd., Sabic, Sp Chemicals Holdings Ltd., Sumitomo Chemical, Sumika Bayer Urethane Co., Ltd., The Dow Chemical Company and Tosoh Corporation.

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This release was published on openPR.