Aniline Market - Segmented by Application, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global aniline is expected to witness a CAGR of approximately 5.1% during the forecast period, 2018-2023. The major factor driving the market is the increasing demand from MDI in the coatings, adhesives and sealants, and polyurethane industries.
Increasing Demand from Polyurethanes
Aniline is heavily required for MDI production, which is further required for PU foam production. There has been a constantly increasing demand for rigid and flexible polyurethane foam due to its insulation properties, from various end-user industries which include the automotive and construction sector.
With the consistently growing automotive industry, and booming construction sector in developing nations, such as China, India, and Indonesia are expected to drive the market for aniline during the forecast period.
MDI Dominates the Market
MDI is expected to witness the highest demand and fastest growth during this forecast period. This is because, aniline is heavily required for MDI, which is used in the production of polyurethane foam. There has been an increase in the demand for polyurethane foam from various end-user industries, including construction, consumer goods, and the automotive sectors. MDI is primarily used in production of rigid polyurethane foams, which are used as insulating materials in homes, refrigerators etc. Insulating foams made by MDI can help consumer save their heating and cooling costs. The building industry is by far the largest consumer for rigid and spray polyurethane foam. With the increasing number of building codes that promote energy-efficient structures, home builders and consumers are gradually preferring building strategies that deliver performance and save energy in the long run.
Asia-Pacific is the Dominating Region
Asia-Pacific is expected to witness the highest demand for aniline during the forecast period. 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. The demand in China for polyurethane products account for about 45% of the global demand, and is expected to maintain a growth rate of around 10% over the next two years, with the share in global demand for polyurethane products increasing to 55% in 2017. Polyurethanes are widely used in car manufacturing as they offer benefits in terms of comfort, protection, and energy conservation. The aforementioned factors are expected to have a significant impact on the growth of the market
North America is expected to witness the second highest demand during the forecast period
Key Developments in the Market
- February 2018- Covestro introduced a method to produce plant-based aniline.
Major Players - BASF SE, DowDuPont, Huntsman Corporation, Sinopec, and Mitsubishi Chemical Corporation among others.
Reason to Purchase the Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating process type and filler used in the market
- Countries expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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