The Global Aniline Market To Contribute Major Market Share

The global Aniline Market is estimated to be valued at US$ 9.4 Million Tons in 2023 and is expected to exhibit a CAGR of 5.2% 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 compound that is widely used in the manufacturing of various industrial chemicals and dyes. It finds application in the production of urea-formaldehyde (UF) resins and rubber chemicals owing to its adhesive properties. Aniline is also used as a chemical intermediate in the manufacture of certain agrochemicals and pharmaceuticals and as a denaturant for ethyl alcohol.

Market key trends:
One of the key trends driving growth in the aniline market is its increasing demand from the paints and coatings industry. As an important intermediate, aniline is used to manufacture various types of dyes which then find application in industrial and architectural paints as coloring pigments. Rising construction spending globally and growth of the automotive industry is augmenting paints consumption, thereby fueling demand for aniline. Furthermore, expansion of the chemical industry especially in emerging nations of Asia Pacific is another factor propelling the market forward.

Segment Analysis:
- The global aniline market is segmented into production process and application. Based on the production process, the aniline market is categorized into nixtamalization process, wash reduction process, and others. The nixtamalization process segment accounted for the largest market share in 2023 due to its low production cost compared to other processes.

- In terms of application, the aniline market is divided into MDI, pesticides, rubbers, dyes and pigments, and others. The MDI segment held the highest share in 2023 as MDI is extensively used in construction and automotive industries for manufacturing polyurethane materials.

Key Takeaways:
- The Global Aniline Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period 2023 to 2030, due to increasing demand from agrochemical and construction industries.

- Asia Pacific region dominated the global aniline market with more than 50% share in 2023. China and India accounted for largest shares in the region due to presence of large agrochemical and construction industries. North America and Europe are expected to grow at significant rates during the forecast period.

- 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., and Sumitomo Chemical Co. Ltd. BASF SE held the highest market share in 2023 owing to its broad product portfolio and global distribution network.

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