February 8, 2025
Aniline Market

Aromatic Chemicals Is The Largest Segment Driving The Growth Of The Global Aniline Market

The global Aniline Market is estimated to be valued at US$ 19125.82 Mn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Aniline is an aromatic amine which is derived from the distillation of coal tar. It is a colorless liquid that serves as an important building block for dyes, drugs and polyurethane. Its key advantages include high binding strength for dyes, corrosion resistance and low cost of production.

Market key trends:

One of the key trend in the Aniline market is growing usage in MDI production. Methylene diphenyl diisocyanate or MDI finds extensive usage in the manufacture of polyurethane foams which are used in furniture, bedding, sealants and thermal insulation. The increasing demand for polyurethane from the construction and automotive industry is propelling the demand for MDI. Since Aniline is a key raw material for MDI production, its market is also witnessing growth. The global polyurethane market was valued at US$ 71.8 billion in 2019 and is anticipated to reach US$ 118.1 billion by 2027, exhibiting a CAGR of 6.8%. This rising polyurethane demand augurs well for the aniline market.

SWOT Analysis

Strength: Aniline has varied industrial applications. It is used in the production of dyes and veterinary pharmaceuticals. It also acts as an intermediate in the manufacture of methylene diphenyl diisocyanate (MDI).

Weakness: Aniline is highly toxic in nature and is considered as hazardous chemical. Stringent regulations are imposed on its production, use, handling, storage and transportation.

Opportunity: Growing demand from end use industries like construction, automotive and agriculture is expected to drive the aniline market. Increasing application of MDI due to its superior properties will augment the consumption of aniline.

Threats: Volatility in crude oil and naphtha prices can impact the production cost of aniline. Stringent environmental norms pertaining to aniline emissions is a major challenge.

Key Takeaways

The Global Aniline Market Forecast is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing demand from end use industries.

Regional analysis

Asia Pacific dominates the global aniline market and the trend is expected to continue during the forecast period. China is the largest producer and consumer of aniline globally. Expansion of rubber, plastic and automobile industries in India is fueling the market growth.

Key players operating in the aniline market are BASF SE, Bayer Material Science LLC, E.I du Pont De Nemours and Company, Huntsman Corporation, Jilin Connell Chemical Industry Co., Ltd., SP Chemicals Holdings, Ltd., Sumitomo Chemical Co. Ltd., The Dow Chemical Company. BASF captured over 15% of the total market share in 2020.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →