(MENAFN- GlobeNewsWire - Nasdaq) Newark, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 11.07 billion in 2020 global aniline market will reach USD 21.59 billion in 2028. Aniline, commonly referred to as aniline oil or phenylamine, is a colourless, greasy, somewhat water-soluble liquid with many uses, from dye to pharmaceuticals. The majority of the market for aniline is used to make MDI (methylene diphenyl diisocyanate). The manufacturing of stiff polyurethane (PU) foams, in high demand in the automotive and construction industries, among other sectors, depends heavily on this Methylene Diphenyl Diisocyanate. This aspect fuels the rigid polyurethane (PU) foam market, which fuels the global aniline market. Aniline is also utilised in various end-use industries, including manufacturing, consumer products, textile, coating, and agricultural. They are also utilised in the pharmaceutical sector, where aniline is now more in demand due to recent developments.
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Key Insight of the Global Aniline Market
Asia Pacific will dominate the market during the forecast period.
The region's expanding construction and automobile industries are attributed to its dominance in the global aniline market. India and China, two of the region's developing nations, are investing in the nation's infrastructure. The government is focusing more on putting all the regulations and codes into practice to create intelligent, energy-efficient buildings. Additionally, China's expanding automotive industry indirectly drives the region's need for aniline. The market is also being driven by many end-user businesses in the area.
In 2020, the Methylene Diphenyl Diisocyanate (MDI) segment dominated the market with the largest market share of 31.91% and market revenue of 3.53 billion.
The Application segment includes Methylene Diphenyl Diisocyanate (MDI), Rubber-processing Chemicals, Agricultural Chemicals, Dye and Pigment, Specialty Fiber and Others. In 2020, the Methylene Diphenyl Diisocyanate (MDI) segment dominated the market with the largest market share of 31.91% and market revenue of 3.53 billion.
In 2020, the construction segment dominated the market with the largest market share of 27.85% and market revenue of 3.08 billion.
The end-user segment includes construction, furniture & interior, electronics & appliances, automotive, footwear and others. In 2020, the construction segment dominated the market with the largest market share of 27.85% and market revenue of 3.08 billion.
Advancement in market
Covestro officially opened a new production facility for the production of aniline in Antwerp. The company wants to strengthen its European production network for the foam component MDI with capacity expansion. Covestro is investing more than 300 million euros. Depending on the ephemeral state of the economy, the new aniline facility should begin operations in early 2025. Modern technology will be used in the new facility to improve Antwerp's production's energy efficiency greatly. The new plant's commissioning is expected to result in a decrease in the usage of fossil fuels as well as a two-fold increase in the proportion of steam produced from process heat, from 20% to 40% of local demand.
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Market Dynamics
Driver: rising demand for polyurethane foams.
Demand has increased because polyurethane rigid foams have so many uses in the construction and automotive industries. They are employed in developing residential and non-residential structures and in the automobile, oil and gas, and other related industries. Polyurethane foams are used to insulate onshore and offshore pipelines and ensure the efficient functioning of business operations in the oil and gas sector. Rigid polyurethane foam prevents freezing, maintains optimum fluid viscosity, safeguards expensive machinery, and effectively distributes and reuses heat for higher efficiency. The aniline market is, therefore, driven by the high demand for polyurethane rigid foams.
Restraints: MDI price fluctuation.
For manufacturing MDI (Methylene diphenyl diisocyanate), which is used to make polyurethane foam, aniline is crucial. The flexible foam is used in transportation and furniture, while the firmest foam is used in various appliances and constructions. In addition, there is a rise in demand for MDI in the adhesives and sealants sector. However, the MDI market is being hampered by the MDI price instability, which finally hampered the aniline market.
Opportunities: PU insulation demand is expected to rise in the construction, automotive, and plastic industries.
The majority of the market for aniline is used to make MDI (methylene diphenyl diisocyanate). This Methylene Diphenyl Diisocyanate is crucial in creating stiff polyurethane (PU) foams, which are in high demand in the construction and automotive industries. Laminated insulation panels made of rigid polyurethane foams are created with various facings. Chemically stable, lightweight, adaptable, flexible, and durable, polyurethane foams resist moisture, heat, and electricity. Due to their low compression property, they have superior sealing, cushioning, and vibration control qualities. So, they are employed in developing residential and non-residential structures and in the automobile, oil and gas, and other related industries.
Challenges: the health and environmental effects of aniline.
High exposure or consistent exposure to aniline for a long time can cause several health problems that will challenge the market's growth.
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Some of the major players operating in the global aniline market are:
. 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
. Tosoh Corporation
Key Segments covered in the market:
By Application
. Methylene Diphenyl Diisocyanate (MDI)
. Rubber-Processing Chemicals
. Agricultural Chemicals
. Dye and Pigment
. Specialty Fiber
. Others
By End User
. Construction
. Furniture & Interior
. Electronics & Appliances
. Automotive
. Footwear
. Others
By Region
. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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