Methyl Diphenyl Segment to Drive Aniline Market Growth, Fueled by Demand from Automobile Industry
SkyQuest Technology Consulting Pvt. Ltd.
4 min read
SkyQuest Technology Consulting Pvt. Ltd.
SkyQuest projects that the aniline market will attain a value of USD 18.5 billion by 2030, with a CAGR of 7% over the forecast period (2023-2030). The market is experiencing a growth due to the increasing demand for the coatings, adhesives and sealants. Additionally, there is a surge in demand for rigid polyurethanes as insulation material, which enables the thinner walls and lower roof profiles, ultimately creating more living space. Furthermore, the global population growth has led to an increase in construction activities, including residential and commercial buildings which further support market growth.
Westford, USA, June 20, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the market for aniline (C6H5NH2) is expanding due to its increasing demand as an anti-knock additive and solvent in the development of reformat gasoline. This is trending followed with a thriving chemical industry. Additionally, major industry players are investing in the development of aniline from waste sugar biomass, which is biologically transformed into acid using microorganism-based catalysts. Chemical catalysts are subsequently used to produce aniline.
Aniline (C6H5NH2) is an organic compound characterized by a yellowish to brownish oily liquid with a fishy odor. It exhibits slight solubility in water and readily mixes with most organic solvents. This substance is commercially produced either by the catalytic hydrogenation of nitrobenzene or by the reaction of ammonia with chlorobenzene. Aniline is prone to oxidation in the air and tends to resinify gradually.
Prominent Players in Aniline Market
BASF SE
Huntsman Corporation
Dow Chemical Company
Sumitomo Chemical Co., Ltd.
Covestro AG
Mitsui Chemicals, Inc.
Wanhua Chemical Group Co., Ltd.
Evonik Industries AG
Yantai Wanhua Polyurethanes Co., Ltd.
Tosoh Corporation
Sinopec Shanghai Petrochemical Company Limited
GNFC Limited
SP Chemicals Holdings Ltd.
Bayer AG
Akzo Nobel N.V.
Jilin Connell Chemical Industry Co., Ltd.
DuPont de Nemours, Inc.
Celanese Corporation
Gujarat Narmada Valley Fertilizers & Chemicals Limited
N-Methyl Segment is Anticipated to Grow Due tothe Rising Usage in the Production of Polyurethane
Aniline derivatives are being utilized worldwide for various purposes depending on the derivative. N-methyl holds the majority share in the industry owing to its high usage in the production of polyurethane, which is essential in manufacturing plastics. Furthermore, the global aniline market is expected to grow over the forecast period due to the continuously increasing demand for plastics in the medical industry to manufacture medical devices such as tubes, masks, bags and others.
North America is projected to lead the market and growing during the forecast period. Developed regions such as the United States and Canada are significant contributors to the aniline market growth in North America. Additionally, Japan and Canada are important geographic regions that are expected to experience growth rates.
Methyl Diphenyl Segment is Projected to Grow Owing to the Rising Demand of MDI
Methyl diphenyl is projected to grow significantly due to the rising demand of MDI. In addition, PU foams are becoming more popular and widely accepted by automobile manufacturers owing to the production of seats that can be easily assembled, disassembled and recycled with high specifications over a wide range of firmness and lightweight. These are the primary reasons expected to drive demand in the future.
Asia Pacific is expected to experience growth due to the rising electronics production in Taiwan, Korea and China. Additionally, significant syndicates are expanding their aniline manufacturing capacities in China to meet the rising demand from developing countries in the region. Furthermore, the increasing construction investment in India and the growth of China's automotive sector are also likely to contribute to the development of aniline demand in these economies in the Asia Pacific.
A comprehensive analysis of the major players in the Aniline market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Aniline Market
Covestro revealed its plans to construct a new manufacturing facility in Antwerp, Belgium with a total investment of over USD 300 million in 2022. The facility produced aniline that bolsters the Covestro's European production network for the foam component MDI.
Central Pattana PCL, Thailand's largest mall operator, announced plans to invest USD 722.97 million in the remodelling of stores and other expenditures in 2022.
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
