Aniline Market, By Application (Methylene diphenyl diisocyanate and Others), By End Uses (Insulation, Rubber Products, Consumer Goods, Automotive, Packaging and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2024

Code : CMI4378

Pages :120

Formats :

Excel and PDF

Industry : Polymers and Resins

Aniline MarketSize and Trends

The Aniline Market size is valued at US$ 7.8 Mn Tons in 2024 and is expected to reach US$ 11.3 Mn Tons by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Market Trends:

Sustainable production methods: Growing demand for sustainable production methods is having a notable influence on the market. Many chemical manufacturers are focusing their efforts on developing greener and more eco-friendly ways to produce aniline in response to increase pressure from regulators, customers, and other stakeholders.
For instance, a China based company, Zhongwei Aniline revamped their production process to use bio-based feed stocks instead of fossil fuels as starting materials. They are deriving aniline from fermented plant waste like corn cobs and straws. This allows them to reduce carbon emissions from their operations by over 30% as compared to traditional methods. As a result, they have secured several large contracts from major European brands looking to lower the carbon footprint of their products and supply chains.
Strategic alliance among market players: Strategic alliances among various market players have emerged as a key trend influencing the market in 2022 years. With aniline being a key base chemical that is used in various downstream industries such as rubber processing, insulation, automotive and home textiles, market players across the value chain are realizing the need to form collaborative partnerships to gain scale and efficiencies.
One of the main objectives of these alliances has been to consolidate operations and reduce overlapping investments to maximize capacity utilization. This is especially important in the challenging macroeconomic environment where managing costs and ensuring supply security has become priority. For instance, in 2021 a Japan based chemical major, Mitsubishi Chemical, partnered with India's Mangalore Refinery and Petrochemicals Limited to set up a new aniline production facility in India, in 2021. This allows both companies to leverage each other's expertise and strengths to cater to the growing demand for aniline-based derivatives from the domestic textile and rubber industries.