The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global aniline market is expected to register a CAGR of around 5% during the forecast period. The major factor driving the market is the increasing demand from MDI in the coatings, adhesives and sealants, and polyurethane industries.
- Increasing demand for MDI in coatings industry and adhesives & sealants is expected to drive the demand for the market during the forecast period.
- Detrimental effect of methemoglobin on health is likely to hinder the market’s growth.
- Innovation in production of aniline from biomass is projected to act as an opportunity for the market in future.
Key Market Trends
Rising Demand from the Building and Construction Sector
- Aniline is used in manufacturing polyurethane, which finds its application in durable plastics, spray polyurethane foams, polyurethane flexible foams, polyurethane-based binders, and polyurethane elastomers, which are extensively used in the automotive and construction sectors.
- There has been a constantly increasing demand for rigid and flexible polyurethane foam, due to its insulation properties, from various end-user industries, including the automotive and construction sector.
- The properties of polyurethanes, such as durability, ease of installation, and cost effectiveness, make them popular for use in building and construction activities.
- The consistently growing construction sector in developing nations, such as China, India, and Indonesia, is expected to drive the market for aniline during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific region dominated the global market share. This is due to the growing construction and automotive industry in the region.
- The demand is majorly expected to rise form the developing nations, such as China, India, and Indonesia. In the Asia-Pacific region, China is the world’s largest producer and consumer of polyurethane products.
- China is considered as the manufacturing hub, globally. Additionally, China’s construction industry is expected to register the growth at a slower rate in the coming years owing to the slowdown of the economy due to inter-country political turbulences. However, being a huge market with higher growth rate till the recent past, the size of the economy is expected to balance the economic slowdown in coming years.
- The construction sector of India has been growing at a higher rate owing to the increasing investments and increasing purchasing power of people. The government of India supports the higher growth of construction sector through their schemes as: “Housing for All” programme, launched in June 2015 aims to build 20 million urban homes and 30 million rural houses by 2022.
- The aforementioned factors are expected to drive the demand for aniline over the forecast period, in the Asia-Pacific region.
The aniline market is partially consolidated, and the key players include BASF SE, Covestro AG, The Chemours Company, Wanhua Group, and Huntsman Corporation.
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