The Global Nitrobenzene Market Will Multiply 1.4x From Its Current Value During The Forecast Period (2022 To 2030)

Global nitrobenzene market exhibits a very modest 3.6% CAGR during the forecast period of 2020 - 2030. Accelerating demand for high-performance plastics across the globe will continue to generate revenue for nitrobenzene manufacturers. Applications in producing methyl diphenyl diisocyanate (MDI) to enhance the durability of plastic are a prime factor for this growth.

Need for industrial chemicals manufactured using nitrobenzene is another factor that contributes to nitrobenzene sales. The pale yellow chemical (nitrobenzene) is produced by forming nitronium ion (NO2+) from sulfuric acid and nitric acid. Hence, the availability of these raw materials will influence the profit margins of manufacturers.

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Manufacturers Eye Post Covid-19 Normalization

In the current market scenario, nitrobenzene manufacturers are witnessing a drop in production and demand for the product. However, once the global pandemic settles, market players can expect revenues from paint solvents, and automotive applications. Analysts predict a rise in demand for nitrobenzene from plastics, rubber, and paint solvent manufacturers. For instance, the increasing demand for high-performance plastics in medical equipment and the need for rubber tires to transport medicines, and healthcare devices. Factors such as these will continue to drive the demand for nitrobenzene as a raw material.

Key Takeaways of Nitrobenzene Market Study

On the back of surging infrastructure development across countries gives construction share-wide dominance. Construction accounts for over 49% of the total market value.

Modernization of agriculture processes to fulfill demand for food raw materials is giving impetus to the purchase of nitrobenzene based products such as conveyor belts. The agriculture end-use segment offers the highest growth during the forecast period.

Aniline Production to facilitate manufacturing of high-performance plastic products exhibits a stronghold on the nitrobenzen market. The application segment holds a lion's share of more than 74% share of the total market value.

Pain Solvent is the highest growth application segment. Renovation of existing infrastructure and efficient paint solutions for new ones can be attributed to the 6.5% CAGR through 2030.

East Asia emerges as the most financially rewarding region with a majority share of over ? of the total market value. Presence of prominent manufacturers in China is a central factor for growth of the East Asia nitrobenzene market.

South Asia & Oceania offer the most remunerative growth opportunities on the back of surging demand for high performance plastics in automotive applications. The region will continue to grow at a steady 5.3% CAGR between 2020 and 2030.

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Global Nitrobenzene Market: In-Depth Assessment on Key Segments
The global nitrobenzene market is segmented on the basis of application, end use and region.

By Application :
Aniline Production
Pesticide Additive
Synthetic Rubber Manufacturing
Paint Solvent
Others

By End-Use :
Construction
Agriculture
Pharmaceutical
Automotive
Others

By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa

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Key Questions Answered in Report

Which are the most lucrative markets for Nitrobenzene?
Which factors will impact the growth of the market?
How will changing trends impact the strategies of market players?
How can market players capture the low-hanging opportunities across regions?
Which companies are leading the Nitrobenzene industry?
What are the winning strategies of stakeholders in the market?

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