Aniline Market is Estimated To Witness Robust Growth Owing To Increasing demand of MDI and TDI

 

Aniline Market

The global Aniline Market is estimated to be valued at US$ 19125.82 Mn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Aniline is an essential raw material widely used in the production of various materials including methylene diphenyl diisocyanate (MDI), rubber processing chemicals, dyes and pigments. It provides properties like chemical stability, thermal resistance and dielectric strength to the end products. With growing demand for these end-use industries, the aniline market is expected to witness significant growth over the forecast period.

 

Market key trends:

Green Chemistry is one of the major trends gaining traction in the aniline market. Growing environmental concerns over the use of traditional chemical synthesis routes are driving manufacturers to develop sustainable production methods. For instance, the hydrogenation of nitrobenzene is being increasingly replaced by bio-based processes involving enzymatic reduction using cytochrome P450 monooxygenase and yeast cells. These bio-friendly approaches help minimize generation of hazardous waste while enabling aniline production in a cost-effective manner.

Segment Analysis

The global aniline market is segmented by type into methylaniline, ethylaniline, chloroaniline, dichloroaniline, and others. Ethylaniline accounts for the largest market share and is expected to remain the dominant segment over the forecast period. Ethylaniline finds wide application in the production of agricultural chemicals, dyes, synthetic rubbers, pharmaceuticals, and polyurethanes owing to its favorable chemical and physical properties.

 

Key Takeaways

The Global Aniline Market Forecast is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing demand from agricultural chemicals and dyes industries.

 

Regional analysis

Asia Pacific accounts for the largest share of the global aniline market and is expected to maintain its dominance over the forecast period. This is attributed to robust presence of agricultural chemicals and dyes industries in countries such as China and India. China is the largest producer as well as consumer of aniline globally.

 

Key players

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. BASF SE is one of the leading players and is focusing on expanding its production capacities to cater to increasing demand from end-use industries globally.

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https://www.dailyprbulletin.com/aniline-market-size-share-growth-outlook-2023/

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