Global Aniline Market, By Application (Methylene diphenyl diisocyanate ( MDI) and others), By End User (Insulation, Rubber products, Consumer Goods, Automotive, Packaging, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 7.8 Mn Tons in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 5.4% during the forecast period (2024-2031), as highlighted in a new report published by Coherent Market Insights.
Aniline is a chemical compound that consists of a phenyl group that is linked to the amino group. It has chemical formula C6H5NH2 and smell like rotten fish due to the presence of an amine group. Aniline is the simplest aromatic amine and majorly used in the production of precursors to polyurethane. It is also used to produce other chemical compounds. Rubber-processing chemicals, dye and pigment, specialty fiber, and agricultural chemicals are some of the other applications of the aniline.
Global Aniline Market – Impact of Coronavirus (COVID-19) Pandemic
The novel Coronavirus (COVID-19) is expected to increase the demand for aniline market owing to increase demand for the products across various end use industries such as packaging, consumer goods, and agriculture.The COVID-19 pandemic had a significant impact on the market. The pandemic led to disruptions in the supply chain due to worldwide lockdowns, resulting in challenges in production and distribution for manufacturers. The market experienced a shortage of raw materials and increased production costs due to the disrupted global supply chains. The logistics industry faced challenges due to inconsistent regulations, further impacting the supply chain and leading to a slow restoration of the supply chain and logistics operations. However, aniline is considered an essential component, and as the situation stabilizes, there is an expected rebound in demand for these products. In this scenario, major manufacturers with diverse customer bases are expected to benefit.
The COVID-19 pandemic has significantly impacted the supply chain of the market. The pandemic led to disruptions in the supply chain due to worldwide lockdowns, resulting in challenges in production and distribution for manufacturers. The market experienced a shortage of raw materials and increased production costs due to the disrupted global supply chains.
Key Developments
- In October 2022, Covestro announced the construction of its new production facility with an investment of more than US$ 300 million to manufacture aniline in Antwerp, Belgium. The expansion strengthens its European production network for the foam component MDI.
- In December 2020, BASF SE completed the acquisition of Solvay's polyamide business, including aniline production facilities in Europe and Asia Pacific.
Browse 24 Market Data Tables and 28 Figures spread through 150 Pages and in-depth TOC on “Global Aniline Market”- Forecast to 2031, Global Aniline Market, By Application (Methylene diphenyl diisocyanate ( MDI) and others), By End User (Insulation, Rubber products, Consumer Goods, Automotive, Packaging, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
Link: https://www.coherentmarketinsights.com/market-insight/aniline-market-4378
Key Takeaways of this Market :
- Global aniline market was valued at US$ 7.8 Mn Tons in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 5.5 % from 2024 to 2031.
- The market is driven by increasing demand for aniline in various industries such as gasoline and anti-knock additives, construction, automotive, and consumer goods.
- Among region, North America and the Asia-Pacific region are expected to lead the market, with countries like the United States, Canada, China, and India being major contributors.
- Major players operating in the market are BASF SE, Bayer Material Science LLC, I du Pont de Nemours and Company, Huntsman Corporation, Jilin Connell Chemical Industry Co. Ltd., SP Chemicals Holdings, Ltd., Sumitomo Chemical Company, and The Dow Chemical Company.
