(2019 – 2024) “Nitrobenzene Market” Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Nitrobenzene Analysis. The Nitrobenzene market is expected to register a CAGR of approximately 3.5% during the forecast period of (2019 – 2024).
Nitrobenzene Market Report Covers Leading Manufacturers: Aromsyn Co., Ltd, Bann Quimica Ltd., BASF SE, Covestro AG, Finetech Industry Limited, Huntsman Corporation, Shandong Jinling Chemical Co., The Chemours Company, The Dow Chemical Company, Tianjin Elong Co., Ltd., Total S.A., Yantai Wanhua Polyurethane Co. Ltd.
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The global nitrobenzene market is expected to witness a CAGR of approximately 3.5% during the forecast period, 2018-2023. The major factor driving the market growth is the increasing demand for aniline. In addition, recovering construction in countries, like the United Kingdom and Australia, is expected to drive the market during the forecast period.
Automotive Production Driving the Market
The nitrobenzene market is majorly driven by demand for aniline, as nitrobenzene is the primary raw material for aniline production. Aniline is a major component in the production of various chemicals, like MDI, which are further utilized in many end-user industries, like construction, cosmetic, pharmaceuticals, automotive, agriculture, and others. It is also utilized in manufacturing insulators, which are used in the construction industry.
Aniline Production the Largest Application Type
The market can be segmented by application into aniline production, pesticides, synthetic rubber, and lubricating oil, with aniline production being the major application. In 2017, more than 90% of nitrobenzene was used for aniline production.
Construction Industry Driving Asia Pacific Region
Asia-Pacific has the largest market for nitrobenzene, globally, because of demand from countries like China and India. Growing residential construction activities in these countries, because of rapid urbanization, is expected to drive the Asia-Pacific nitrobenzene market during the forecast period. China is the major driving force as it accounts for almost 70 % of Asia-Pacific’s demand, and represents approximately 35% of the global demand.
Major Players: BASF, Chemours, Covestro, Huntsman, and Wanhua Industrial, amongst others
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Reasons to Purchase Nitrobenzene Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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