The global Aniline Market is estimated to be valued at US$ 9.4 Million Tons or Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Aniline is an organic compound with the formula C6H5NH2. It is a colorless, weak base, and its aqueous solutions are generally acidic. Aniline is an important precursor to many industrial chemicals including isocyanates, dyes, pesticides, and polyurethane. It is derived by catalytic hydrogenation and reduction of nitrobenzene and is also produced commercially by alkylation of aniline from benzene and ammonia under pressure. The global demand for aniline is mainly driven by its use in the manufacture of MDI (methylene diphenyl diisocyanate), which is primarily used in polyurethane foams in coatings, adhesives, sealants, and elastomers.
Market key trends:
One of the key trends in the global aniline market is rising demand from the construction industry. Aniline is used in various construction applications such as making polyurethane foams which are used as insulation materials in buildings. The growing construction activities across both developed and developing countries due to rapid urbanization and industrialization is expected to drive the demand for insulation and other construction materials made from polyurethane and by extension aniline. Another key trend is increasing research activities focused on developing bio-based aniline through fermentation of renewable feedstock like lignocellulose which can help reduce dependence on petrochemical routes and lower production costs.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as there are some entry barriers like high capital requirement for setting up manufacturing facilities and the market is dominated by major players.
Bargaining power of buyers: The bargaining power of buyers is high as the aniline market has numerous buyers and buyers can negotiate prices.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have some pricing power but substitutes are available.
Threat of new substitutes: The threat of substitutes is low as aniline has limited substitutes and is an important chemical with wide applications.
Competitive rivalry: High as the market is dominated by major international players.
Key Takeaways
The Global Aniline Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand from industrial applications. The market size for aniline was estimated at 9.4 Million Tons in 2023.
Regionally, Asia Pacific dominated the global aniline market in 2023 and is expected to maintain its leading position during the forecast period. This can be attributed to expanding end-use industries and increasing industrialization in countries such as China and India. The regional market is projected to witness a CAGR of around 6% during 2023 – 2028.
The key players operating in the aniline market are BASF SE, Bayer Material Science LLC, E.I du Pont De Nemours and Company, Huntsman Corporation, Jilin Connell Chemical Industry Co., Ltd., SP Chemicals Holdings, Ltd., Sumitomo Chemical Co. Ltd., The Dow Chemical Company. These companies have strong distribution networks at global level and focus on expanding their manufacturing facilities to cater to increasing demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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