by It is a colourless oily liquid that possesses a characteristic pungent odor. Some of the major applications of aniline include its use in the production of polyurethane foam, Methylene diphenyl diisocyanate (MDI), rubber processing chemicals, antioxidants, dyes, agricultural chemicals and pharmaceutical drugs. Growing demand for polyurethane foam from various end-use industries like construction, automotive, furniture, etc. has been fueling the growth of the global aniline market.
The Global Aniline Market is estimated to be valued at US$ 22032.95 Billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Aniline market are Nokia Corporation, Ciena Corporation, Cisco Systems Inc., Huawei Technologies Co. Ltd, ZTE Corporation, Fujitsu Corporation, Infinera Corporation, Telefonaktiebolaget LM Ericsson, NEC Corporation and Yokogawa Electric Corporation. These companies capture a significant share of the aniline market owing to their diversified product portfolios and strong global presence.
The growing demand for polyurethane foams from industries like construction and bedding has been a major factor driving the consumption of aniline in Asia Pacific. Rapid urbanization and industrialization in China and India has augmented the demand for polyurethane foams thereby boosting the aniline market.
Key players are expanding their production capacities globally to leverage the growth opportunities. For instance, major aniline producers like Bayer AG and BASF SE have commissioned new plants in Asia Pacific and Middle East & Africa to meet the rising demand from developing nations. This is expected to fuel the global expansion of the aniline market over the forecast period.
Market drivers
Increasing demand from the construction industry is one of the major drivers of the aniline market. Polyurethane foam finds extensive application in thermal and sound insulation and construction sealants in the construction industry. Rapid urbanization and growth in infrastructure development activities globally have been increasing the consumption of polyurethane foams thereby augmenting aniline demand. According to estimates, the global construction industry grew by over 3% in 2019 and is expected to grow at a faster pace post COVID-19 pandemic, which is likely to drive the aniline market growth over the coming years.
Current Geopolitical Impact on Aniline Market Growth
The aniline market is facing significant challenges due to ongoing geopolitical tensions and trade conflicts between major economies. The Russia-Ukraine war has disrupted global supply chains and trade flows. Both Russia and Ukraine are major exporters of raw materials used for aniline production such as benzene. The conflict has put upward pressure on prices of these inputs. Manufacturers are struggling with higher production costs. Export restrictions imposed by some countries on certain chemicals exported to Russia are adding to supply uncertainties. This is negatively impacting the output and growth prospects of aniline producers globally in the short to medium term until normalcy returns.
Geographical Regions with Highest Aniline Market Value
The Asia Pacific region dominates the global Aniline Market Size in terms of value. This region accounts for more than 35% share of the total market revenue as of 2024. China leads globally with the highest aniline production and consumptions volumes. Other major Asia Pacific markets include India, Japan, and South Korea. This is because Asia Pacific is the largest producer and consumer of numerous end-use industries of aniline such as rubber, dyes, and agricultural chemicals. With rising incomes and industrial activities, the demand for aniline from paints, plastics, and textile industries continues to grow rapidly in the region.
Fastest Growing Regional Market for Aniline
The Latin America region is projected to be the fastest growing regional market for aniline during the forecast period of 2024 to 2030. This region is expected to expand at a CAGR of over 12% through 2030. The growth can be attributed to expanding manufacturing industries, rapid urbanization, and increasing public and private investments in Brazil, Mexico, Argentina and Colombia. As these major Latin American countries focus on industrializing their economies, the demand for aniline from various end-use industries such as rubber processing, dyes, and agricultural chemicals is rising swiftly. Hence, the Latin America aniline market offers lucrative opportunities for manufacturers.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
