Dallas, Feb. 07, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global aniline market is expected to grow from USD 11.07 Billion in 2020 to USD 21.59 Billion by 2028 at a CAGR of 7.85% during the forecast period 2021-2028.
Increasing demand for polyurethane rigid foams and increasing demand for MDI in the coatings industry and adhesives & sealants are some of the factors fuelling the aniline market.
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Aniline key application is in the manufacturing of precursors to polyurethane and other industrial chemicals. There is an increase in the demand for polyurethane rigid foams, which in turn is driving the aniline market. Most of the aniline production is involved in methylene diphenyldiisocyanate (MDI) production, which is involved in the manufacturing of rigid polyurethane (PU) foams. Rise in the demand for PU installation by automotive, construction and plastic industries is expected to drive the aniline market growth over the forecasting period. Aniline directly or indirectly helps a bundle of end-user industries which includes consumer goods, rubber products, agriculture, transportation, adhesives /sealants, textiles, manufacturing, coatings, packaging, electronics, photography, pulp &pare and pharmaceuticals. Also, the increasing demand for aniline by pharmaceutical company is likely to have a positive impact on the global market. Aniline requirement as a solvent and gasoline antiknock additive is anticipated to escalate owing to an increase in gasoline demand and fast industrialization growth in developing countries.
MDI price volatility is expected to hinder the global market growth. Increasing use of aniline as a metal corrosion inhibitor is pushed to provide opportunities for market participants over the forecasting years. Aniline is utilized as an intermediate in the production of explosives, speciality organic fibers, optical whiteners, etc. Optical whitener prepared from aniline can be utilized in cotton, detergent, linen, viscose and paper to get excellent whitening and brightening effect at low cost. There is an increase in demand for MDI in coating and adhesive industry; this also drives the aniline market. However, the volatile price of MDI act as a restraint for the market. The excessive exposure of MDI could lead to skin, respiratory tract irritation, asthma which would hinder the market.
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Key players operating in the global aniline market include BASF Corporation, Bayer Material Science, BorsodchemMchz, EiDupont De Nemours, First Chemical Corporation, Jilin Connell Chemical Industry Co., Ltd., Hindustan Organics Chemicals Limited, Huntsman International, Mitsubishi Chemical, Mitsui Chemical, Narmada Chematur Petrochemicals Limited, Petrochina Co. Ltd., Sabic, Sp Chemicals Holdings Ltd., Sumitomo Chemical, Sumika Bayer Urethane Co., Ltd, The Dow Chemical Company and Tosoh Corporation among others. The key players are now concentrating on adopting strategies such as product innovations, mergers & acquisitions, recent developments to enhance their market position.
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• For instance, in 2014, Bayer MaterialScience LLC had acquired DuPont’s Baytown, Texas, aniline production facility. With the acquisition, Bayer accepts responsibility for the facility’s direct operating personnel.
• For instance, in November 2015, Dow Chemical had an agreement to buy Chemours’ aniline plant in Texas. With the acquisition, Dow expected to fulfil its aniline requirements, since Dow had been the largest aniline customer for many years.
The MDI segment is dominating the market with the highest market value of USD 3.53 Billion in 2020
Application segment include Methylene DiphenylDiisocyanate (MDI), Rubber-processing Chemicals, Agricultural Chemicals, Dye and Pigment, Specialty Fiber and Others. MDI segment is having the highest market value of USD 3.53 Billion in 2020. This is because, more than half of the production of aniline is required MDI production, which is then used in the production of polyurethane foam.
The construction segment is dominating the market with the highest market value of 3.08 Billion in 2020
The end-user segment includes construction, furniture & interior, electronics & appliances, automotive, footwear and others. Construction segment is expected to dominate the aniline market share with a market value of around USD 3.08 Billion in 2020. This is for the reason that the largest consumer for rigid and spray polyurethane foam is by the construction industry. There is an increase in infrastructure and construction in developed and developing economies. Homebuilders and consumers are slowly accepting building strategies that deliver performance and save energy in the long run. This is also the segment which is projected to grow at the higher CAGR in the forecast period.
RegionalSegment Analysis of the Aniline Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
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The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region has the largest market value of USD 3.59 Billion in the global Aniline market in 2020. This is due to the rising construction and automotive industry in the region, especially in the developing economies, such as India, China and Indonesia. There is a rising trend of urbanization in emerging economies. In the Asia-Pacific region, China is the largest producer and consumer of polyurethane products in the world. China’s construction industry is anticipated to have the slower growth rate in the coming years because of slowdown of the economy due to inter-country political turbulences, but the size of the economy is anticipated to balance the economic slowdown in coming years. North American aniline market is categorized by its high demand from pharmaceuticals, packaging and textile industries.
About the report:
The global Aniline market is analysed on the basis of value (USD Billion), volume (Million Tons), consumption (Million Tons), imports (Million Tons) and exports (Million Tons).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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