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4-Nitrobenzoic Acid Market - Global Industry Analysis and Forecast 2016 - 2024
4-Nitrobenzoic Acid Market
Folic acid is generally used in association with other medicines to treat pernicious anemia. 3,5-Dinitrobenzoic acid is an organic chemical that is an important corrosion inhibitor and is used in photography. 4-Aminobenzoic acid (also known as PABA) is a white-grey crystalline substance which is only slightly soluble in water. It consists of a benzene ring substituted with a carboxyl group and an amino group. 4-Aminobenzoic acid is mainly used in the biomedical sector to treat fibrotic skin disorders, such as Peyronie's disease under the trade name Potaba. In addition, 4-aminobenzoic acid can be used to manufacture specialty azo dyes and crosslinking agents. 4-aminobenzoic acid can also used in used in sunscreens as a UV filter.
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The growth in end user industries is expected to increase the consumption of 4-nitrobenzoic acid. The increase in consumption of folic acid, 3,5-diaminobenzoic acid and 4-aminobenzoic acid is expected to boost demand for 4-nitrobenzoic acid. In addition, rapid urbanization and increasing consumption of food additives from emerging economies of Asia Pacific and Latin America is expected to further increase demand for 4-nitrobenzoic acid. However, availability of substitutes and fluctuating raw material prices could hamper the growth of this market.
Asia Pacific is expected to be the largest consumer of 4-nitrobenzoic acid followed by North America and Europe. China and India are major consumers of 4-nitrobenzoic acid due to presence of established end user industries. New Zealand, Australia, Vietnam, Japan and Malaysia are other major consumers of 4-Nitrobenzoic acid in Asia Pacific. Latin America is also expected to experience moderate to high growth rate. Argentina and Brazil are major consumers of 4-nitrobenzoic in Latin America. North America and Europe are mature markets and expected to experience low to moderate growth.
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Large and medium chemical and material companies dominate the 4-nitrobenzoic acid market. Some of the key players in this market are Tianjin Elong Co., Ltd. (China), Labeyond Chemicals (Dalian) Co., Ltd. (China), Shanghai Worldyang Chemical Co., Limited (China), Crescent Chemical Co., Inc. (U.S.), Hefei TNJ Chemical Industry Co., Ltd.(U.S.), Orchid Chemical Supplies Ltd. (China), Shangqiu Kangmeida Bio-Technology Co., Ltd (China), Yurui (Shanghai) Chemical Co., Ltd. (China), Shanghai Richem International Co., Ltd.(China), Henan Tianfu Chemical Co., Ltd. (China), Zhengzhou Qiangjin Science And Technology Trading Co., Ltd. (China),Xi'an Leader Biochemical Engineering Co., Ltd.(China), Nanjing Yeshun Industry & International Trading Co., Ltd.(China), Leedskem Agro (India) Ltd. (India), Shri Hari Chemicals (India), Shanghai Richem International Co., Ltd. (China), Toronto Research Chemicals Inc (China), Bayer AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.) and E. I. du Pont de Nemours and Company (U.S.) among others.
Companies are using strategic acquisitions and mergers to increase their market share. In addition, companies are investing in research and development to develop superior grades of 4-nitrobenzoic acid.
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