June 20, 2024
Aniline Market

The increasing application of aniline in rubber processing industry is anticipated to open up new avenue for Aniline Market

The Aniline Market is estimated to be valued at US$ 19,125.82 Mn or 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 organic compound with the chemical formula C6H5NH2. It is a colorless, toxic liquid soluble in water and miscible with organic solvents. Aniline is used to make polyurethane foams, dyes and dye intermediates, agricultural chemicals, rubber processing chemicals and pharmaceuticals. It serves as a precursor to other industrial chemical compounds including isocyanates, acrylates, methacrylates, urethane polymers and polyester polymers. Some major applications of aniline are in rubber processing chemicals, agrochemicals, specialized applications like pesticides, dyes and pigments.

Market Dynamics:

Increasing application of aniline in rubber processing industry is a major driver for the aniline market growth. Around 30% of the total aniline produced is utilized in rubber industry as an accelerator mainly used for production of tires. Growing demand for tires from automotive industry globally is fueling the usage of aniline in rubber processing chemicals. Additionally, growing application of aniline in agrochemicals especially as a precursor to pesticides is another factor propelling the market growth. Aniline is used as an intermediate to manufacture a variety of pesticides including herbicides, insecticides and fungicides. Increasing consumption of pesticides for improving crop yield is positively impacting the aniline market.

Segment Analysis

The global aniline market is dominated by the MDI segment, which accounts for nearly 30% of the overall market share. MDI or Diphenylmethane Diisocyanate is widely used in the production of polyurethane rigid and flexible foams for applications in insulation panels, thermal insulation, seating, and bedding. The easy availability of raw materials and high demand from end-use industries such as construction and furniture drives the MDI segment’s popularity.

PEST Analysis

Political: Stringent regulations regarding aniline emissions may restrain market growth. However, rising infrastructure projects in developing nations create new opportunities.

Economic: High demand from downstream industries along with increasing disposable incomes propel the market. However, fluctuations in raw material costs impact prices.

Social: Rising health awareness regarding aniline exposure during production fosters research in eco-friendly alternatives. However, increased usages in automotive and construction boost demand.

Technological: New production technologies reduce manufacturing costs. Improved applications in special coatings and hollow fibers attract investments.

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 automotive, construction and textile industries.

The Asia Pacific is the fastest growing as well as the largest market for aniline globally. Countries like China, India, and South Korea are the major consumers as well as producers of aniline in the region. This is attributed to factors such as increasing industrialization, growing population, and rising disposable incomes.

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 the global leader with its wide product portfolio and regional presence across major markets.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it