Aniline Market Revenue, Worth, Trends, Key Companies, Forecast To 2027
The global aniline market is expected to reach USD 14.57 Billion by 2026, according to a new report by Reports and Data. The increasing demand for aniline in the building & construction industry is expected to drive the market demand in the forecast period. Aniline is used in the production of MDI, which in turn, is consumed to produce polyurethane, a rigid foam, which has exceptional insulating properties that makes it suitable for walls and roofs of new residential construction as well as renovation of older buildings. According to the U.S. Department of Energy, the heating and cooling costs amounts to 56.0% of the energy consumed in the average American home, and the insulating properties of rigid polyurethane foam helps in saving money while upholding uniform temperature along with reduction in noise levels.
Additionally, the insulating feature of rigid polyurethane
foam is superior, and it allows construction companies to create thinner walls
thinner and lower roof profiles making more spacious interiors. These foams are
beneficial in reducing construction costs and utility bills.
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Key participants
include BASF SE, First Chemical Corporation, Covestro, Mitsubishi Chemicals,
Mitsui Chemical, Sabic, Sumitomo Chemical, The Dow Chemical Company, Tosoh
Corporation, and Petrochina Co. Ltd., among others.
The growing demand for aniline in rubber-processing is
likely to fuel market growth in the upcoming years. Aniline is used in the
production of 2-mercaptobenzothiazole (MBT), which is mostly used in the rubber industry as a non-volatile vulcanization
accelerator in the processing of rubber.
There has been a surging demand of aniline for producing
fungicides and herbicides. Therefore, the growth of the agriculture industry
would be instrumental in increased market demand in the forecast period. The
market in the North America region is estimated to witness the fastest growth
in the period 2019-2027.
Further key findings from the report suggest
- By
product type, synthetic aniline dominated the market in 2018 and is likely
to grow at a rate of 5.4% in the forecast period as nearly all aniline
produced worldwide is produced synthetically.
- By
application, methylene diphenyl diisocyanate (MDI) contributed
to a larger market share of around 80.0% in 2018 and is projected to
witness a CAGR of 6.0% in the forecast period. The majority of rigid PU
foam finds application in the building & construction and consumer
goods industry, whereas flexible PU foam is primarily used in
transportation among other areas.
- By
industry vertical, the building & construction industry accounted for
the largest market share in 2018 and is likely to grow at a rate of 6.6%
in the forecast period.
- The
market in the Asia Pacific region held the largest market share in 2018
and is expected to witness a growth rate of 6.7% in the period 2019-2026.
The market dominance of the APAC region is owing to the growth of the
construction and automotive industry in the region.
For the purpose of this report, Reports and Data have
segmented the global aniline market on the basis of product type, application,
industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2027 and
Revenue, USD Million; 2016-2027)
- Synthetic
Aniline
- Bio-Based
Aniline
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Application Outlook (Volume, Kilo Tons; 2016-2027
and Revenue, USD Million; 2016-2027)
- Methylene
Diphenyl Diisocyanate (MDI)
- Others
Industry Vertical Outlook (Volume, Kilo Tons;
2016-2027 and Revenue, USD Million; 2016-2027)
- Building
& Construction
- Rubber
- Consumer
Goods
- Automotive
- Packaging
- Agriculture
- Others
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market segments.
- PEST analysis of the market in the five major regions.
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Regional Outlook (Volume, Kilo Tons; 2016-2027 and
Revenue, USD Million; 2016-2027)
- North
America
- U.S.
- Europe
- U.K
- France
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- MEA
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