Aniline Market Revenue to Surpass USD 16.13 Billion by 2028

Posted 2024-01-19 08:52:25

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Market Overview: The global Aniline Market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 6.40%, progressing from USD 9,683.4 Million in 2020 to USD 16.13 Billion by 2028. The surge in demand for aniline in the automotive sector is expected to propel market growth during the forecast period. Aniline plays a vital role in MDI production, a key component used in manufacturing polyurethane foams. These foams, known for their durability, lightweight nature, and superior heat and noise resistance, are extensively utilized in the automotive industry.

The application of polyurethane foams in the automotive sector is not only enhancing passenger comfort but also contributing to noise reduction between the vehicle's engine and engine cover, thereby providing a quieter ride. Furthermore, the lightweight characteristics of polyurethane foams contribute to increased fuel efficiency in vehicles.

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Acetanilide, obtained from aniline, has diverse applications, including functioning as an inhibitor in the decomposition of hydrogen peroxide and stabilizing cellulose ester varnishes. Factors such as Aniline color, Aniline structure, Aniline hazards, Aniline density, and Aniline solubility are taken into account by manufacturers and end-use industries. The increasing demand for aniline in the building and construction industry is expected to boost market growth. Aniline is utilized in the production of MDI for polyurethane applications in rigid foam, prized for its insulating properties in walls and roofs.

Asia Pacific dominated the market in 2018, primarily due to the thriving construction and automotive sectors in the region.

Industry Verticals Outlook: The packaging industry is expected to witness the highest growth rate, driven by the substantial requirement for aniline in both flexible and rigid packaging applications.

Application Outlook: Methylene Diphenyl Diisocyanate (MDI) holds a significant market share of around 80.0% in 2018 and is projected to grow at a CAGR of 6.0% during the forecast period. Rigid PU Foam, a major product of MDI, finds applications in building and construction as well as consumer goods, while flexible PU foam is primarily used in transportation.

The "Others" segment, encompassing rubber-processing chemicals, agricultural chemicals, dyes & pigments, and specialty fibers, is anticipated to experience faster growth at 8.4% from 2020 to 2027.

Regional Outlook: North America, led by the U.S., is forecasted to witness the fastest growth rate at 7.3% in the forecast period, driven by increased demand for aniline in new construction and remodeling activities. The Asia Pacific region retained the largest market share in 2018, attributed to the robust growth in construction and automotive industries.

The European market is expected to grow at a rate of 6.2% during the forecast period.

Market-O-Nomics: Aniline finds application in the pharmaceutical industry for products such as analgin, sulpha drugs, isopropyl antipyrine, Vitamin B2, and oxyphenbutazone. Aniline's application in photographic chemicals is anticipated to impact market growth positively. Consumer goods, including textile fibers, coatings, footwear, furniture, adhesives, apparel, and sealants, are among the various products made with aniline. It is also used in packaging sensitive electrical, electronics, and medical items, along with dyes used for package printing. China held the largest share in the global aniline market in 2018, contributing nearly 50% of the global capacity, followed by Western Europe and the U.S. The Middle East, Baltic States, and Central Europe are projected to see minimal growth in the forecast period. The potential carcinogenic effects of aniline on human health may pose a challenge to market growth. Key Companies: Leading players in the global aniline market include BASF SE, First Chemical Corporation, Covestro, Mitsubishi Chemicals, Mitsui Chemical, Sabic, Sumitomo Chemical, The Dow Chemical Company, Tosoh Corporation, and Petrochina Co. Ltd.

Start-up Traction: The Aniline Market presents significant opportunities for small manufacturers and startups to provide cost-effective solutions for aniline product manufacturing. Several innovative start-ups profiled in the report are experiencing remarkable growth with their inventive techniques and developments.

Deals Landscape: Mergers and Acquisitions are integral to the industry, showcasing strategic initiatives taken by leading and growing companies in the market.

Expert Insights: According to industry experts, Acetanilide, synthesized from aniline, serves various purposes such as acting as an inhibitor in hydrogen peroxide decomposition and stabilizing cellulose ester varnishes. Manufacturers and end-use verticals carefully consider factors like Aniline color, Aniline structure, Aniline hazards, Aniline density, and Aniline solubility.

Segments Covered in the Report: This report segments the global aniline market based on product type, application, industry vertical, and region.

Product Type Outlook: Synthetic Aniline, Bio-Based Aniline
Application Outlook: Methylene Diphenyl Diisocyanate (MDI), Others
Industry Vertical Outlook: Building & Construction, Rubber, Consumer Goods, Automotive, Packaging, Agriculture, Others
Regional Outlook: North America, Europe, Asia Pacific, MEA, Latin America

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