Global Nitrobenzene Market to be Dominated by Aniline Production Segment Through 2028
Global Nitrobenzene Market is
increasing owning to the demand for high-performance plastics and synthetic
fibre.
According to TechSci Research report, “Global Nitrobenzene Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018–2028F", The Global
Nitrobenzene Market is anticipated to increase at an impressive rate in the
forecast period 2024-2028. Global Nitrobenzene market is expected to grow
impressively through 2028 due to the growing demand from high performance
plastics and automotive industries. The growth of the nitrobenzene market is
anticipated to be impacted by the rise in rubber demand in the automotive
sector. It is projected that the growing demand for aniline and for building
materials will both play a significant role in driving the nitrobenzene
market's growth over the coming years. Also, it is anticipated that the simple
accessibility of raw materials and the quick development of medications, dyes,
and chemicals would favorably influence the increase of the nitrobenzene
market. Rapid urbanization in developing economies is the main cause of the
market's growth.
Crop yield
rises because of nitrobenzene's utilization by plants as an energy source. The
agricultural sector has seen tremendous change due to technological
advancements in farming methods, drip irrigation, crop protection, and soil
management. Governments are consistently putting more emphasis on organic
farming in the areas of the economy, society, and environment by giving farmers
knowledge and training to enhance the quality of crops, productivity, and soil
texture.
Aniline is
a key end-use application for nitrobenzene. The demand for aniline is expected
to increase in the coming years due to its use in various applications, such as
rubber processing chemicals, pesticides, and dyes. Nitrobenzene is used in the
production of MDI (methylene diphenyl diisocyanate), which is a key component
in the manufacturing of polyurethane foams, coatings, and adhesives. The growth
of the construction industry, particularly in emerging economies, is expected
to drive demand for polyurethane products and, consequently, for nitrobenzene.
Several
factors, including the rising use of nitrobenzene in numerous end-use
industries like pharmaceuticals, automotive, leather, and agricultural, have a
significant impact on the worldwide nitrobenzene market. The use of
nitrobenzene has increased significantly because of the rise in aniline demand
around the world. The key driver of the worldwide nitrobenzene market is
anticipated to be the rise in car production and consumption. The
pharmaceutical and agricultural industries are expanding, which is fueling
nitrobenzene demand internationally.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC
on "Nitrobenzene Market."
Global Nitrobenzene Market is segmented based on form and application.
Based
on form, the
market is divided into liquid and powder. Liquid segment is expected to hold
the largest market share in the forecast period.
Based on
application, the market is divided into aniline production, lubricating oils,
dyes & paints, synthetic rubber, pesticides and others. The growing demand
from agrochemicals industry is the primary reason driving the segment's growth.
Major companies operating in
Global Nitrobenzene Market are:
- Total S.A.
- Covestro AG
- BASF SE
- Huntsman
Corporation
- The Dow
Chemical Company
- The
Chemours Company
- Aarti
Industries Ltd
- Wanhua
Industrial Group
- Aromsyn Co
Ltd
- Bann
Quimica Ltda
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“Throughout the projected period, a significant expansion of the global
automotive industry is anticipated. Hence, it is anticipated that throughout
the forecast period, an increase in MDI made from aniline will increase
nitrobenzene demand. Manufacturers are concentrating on the automotive sector
as their market share in nitrobenzene is expected to grow during the forecast
period." said Mr. Karan Chechi, Research Director with TechSci research, a
research based global management consulting firm.
“Global Nitrobenzene Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Form (Liquid Vs Powder), By Application (Aniline
Production, Lubricating Oils, Dyes & Paints, Synthetic Rubber, Pesticides
and Others), By Company (2022), By Region, Competition Forecast and
Opportunities, 2028 has evaluated the future growth
potential of Global Nitrobenzene market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Nitrobenzene Market.
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