NITROBENZENE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The nitrobenzene market is estimated to be valued at USD 12.15 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Nitrobenzene is an important basic organic compound that is widely used as an intermediate in the manufacture of anilines, azo dyes, pesticides, and synthetic rubber. It is a clear, pale-yellow liquid that emits a sweet, almond-like odor. Nitrobenzene has a high boiling point that allows it to be efficiently transported and various industrial applications require its physical and chemical properties. It is primarily synthesized through the nitration of benzene using concentrated sulfuric and nitric acids. The major end-use industries of nitrobenzene include construction, automotive, agrochemicals, and pharmaceuticals where it is consumed for the production of other derivatives and chemicals. Rising demand from these diverse end-user segments is expected to drive the nitrobenzene market growth over the forecast period.

 Market Dynamics:

Nitrobenzene market is driven by factors such as increasing construction activities worldwide along with the growth of the automotive industry which is the major consumer of aniline, a derivative of nitrobenzene used in the production of polyurethane foams and engineering plastics. Rising agricultural output in developing nations is augmenting the demand for agrochemicals produced from nitrobenzene. Wide scope of applications in pharmaceutical manufacturing involving the production of analgesic and antibacterial drugs is another growth lever for this market. However, stringent environmental regulations regarding emissions from nitrobenzene production plants and health hazards of the chemical may impede the market expansion. Growing R&D towards developing bio-based and eco-friendly alternatives can challenge the nitrobenzene consumption. Meanwhile, increasing outsourcing of agrochemicals from China and India by developed nations presents new revenue opportunities over the forecast period.

Key Features of the Study:

• This report provides in-depth analysis of the global nitrobenzene market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global nitrobenzene market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Wanhua Chemical Group Co., Ltd, Covestro AG, BASF SE, Huntsman Corporation, Vizag chemical, Akshar International, Aarati Industries, Par Industries, Meru Chem Pvt. Ltd., Shiv Chemicals, CDH Fine Chemical, Kamal Plastic, Greenwell Biotech, and Panoli Intermediates (India) Pvt. Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global nitrobenzene market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global nitrobenzene market.

Detailed Segmentation-

• By Application:
  • Aniline Production
  • Pesticide Additive
  • Synthetic Rubber Manufacturing
  • Others (Paint Solvent, etc.)
• By End-use:
  • Construction
  • Agriculture
  • Pharmaceutical
  • Others (Automotive, etc.)
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Wanhua Chemical Group Co., Ltd
  • Covestro AG
  • BASF SE
  • Huntsman Corporation
  • Vizag chemical
  • Akshar International
  • Aarati Industries
  • Par Industries
  • Meru Chem Pvt. Ltd.
  • Shiv Chemicals
  • CDH Fine Chemical
  • Kamal Plastic
  • Greenwell Biotech
  • Panoli Intermediates (India) Pvt. Ltd.