Nitrobenzene Market: Global Industry Analysis and Forecast (2024-2030)

Nitrobenzene Market size was valued at US$ 11.56 Bn. in 2023 and the total Nitrobenzene revenue is expected to grow at 5.8% from 2024 to 2030, reaching nearly US$ 17.15 Bn.
Nitrobenzene Market Overview:
Nitrobenzene is not found in nature. It is an artificial compound that is used to make aniline, the main chemical integrator used in the manufacturing of polyurethanes; nitrobenzene is often used as a solvent in oil refining, as a solvent in the development of cellulose ethers and acetates, as a solvent in the supply of dinitrobenzenes and dichloroanilines, and in the production of organic substances, which include acetaminophen.To know about the Research Methodology :- Request Free Sample Report

According to available data, the total output of nitrobenzene has increased significantly over the last 40 years. The majority are maintained in enclosed systems for some further synthesizing, especially aniline, but also substituted nitrobenzenes and anilines. Setbacks during nitrobenzene manufacturing are probably low; nevertheless, emission levels may be greater when nitrobenzene is used as a solvent. Nitrobenzene has been recorded in the atmosphere, at hazardous waste dumps and has been proven to be released by incinerator facilities. Nitrobenzene can be generated in the atmosphere through the interaction of benzene with nitrogen oxides, albeit this source has not been measured. Ozone has been shown to slowly convert aniline to nitrobenzene.

In this report, the Nitrobenzene market's growth reasons, as well as the market's many segments (Application, End-Use, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations.

The study discusses the Nitrobenzene market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Nitrobenzene market situation.
Nitrobenzene Market Dynamics:
Aniline manufacturing makes up the bulk of nitrobenzene applications, accounting for more than 95% of the total. It is primarily formed by the hydrogenation of nitrobenzene. The original nitrobenzene synthesis by phenyl amination is no longer used. Mitsui in, Japan, was the last to close its production owing to weak economic conditions.

The aniline-derived methylene diphenyl di-isocyanate serves as a primary predecessor for polymers utilized in a variety of end-user sectors, notably architecture, automobile, and many others. Additionally, polyurethane foams made from MDI, which are primarily applied in different structural insulation applications, are one of the most crucial characteristics in architecture, both in their ductile and brittle forms.

The international construction industry was valued at approximately US$ 11.9 trillion in 2022, with a growth rate of approximately 3.8% over the prior year, due to the increase in the usage of MDI's stiffer polyurethanes, folders, sealants, adhesives, varnishes, and other MDI goods, thereby increasing the demand for aniline and thus encouraging the demand for the nitrobenzene market.

Moreover, according to MMR Report, approximately 77.5 million automobiles were produced globally in 2022 compared to 92 million automobiles manufactured in 2022, resulting in a 15.4 percent decline in the usage of MDI-based components and polymers e.g. polyurethane, etc., which are being used in the manufacture of different automotive parts e.g. steering wheels, ejection covers, water-resistant resistant floor components, and others, in turn, restraining the nitrobenzene market growth on a global scale.
Nitrobenzene Market Segment Analysis:
By Application, the aniline production segment is expected to witness the fastest CAGR of 4.3% in the previously mentioned forecast period. Aniline manufacturing was the most important use of nitrobenzene internationally, accounting for 85% of total utilization in 2023. It is primarily utilized in the rubber sector to produce MDI, inhibitors, stimulators, boosters, and other compounds. In trace amounts, aniline is also utilized as an ingredient in the manufacture of pesticides and herbicides.

Aside from aniline, the substance is also used as an insecticide ingredient. Nitrobenzene, as per Greenwell Biotech, is expected to increase plant vitality and output, particularly in blooming crops. However, because of the widespread availability of different replacements, its uptake as an herbicide ingredient is expected to be relatively gradual.

Nitrobenzene is used in the pharma industry to make paracetamol, the most widely used drug on the planet. However, during the paracetamol production process, nitrobenzene is transformed into aniline and subsequently applied to the medication composition. Because paracetamol is mostly produced in India and China, APAC is the pharma industry's biggest user of aniline and hence nitrobenzene.
Nitrobenzene Market Regional Insights:
In terms of supply and demand, APAC was the largest market for nitrobenzene in 2023. Various foreign businesses have relocated their production units to the region due to the region's low-cost infrastructure and labor expenses. In recent years, large aniline and methylene diphenyl di-isocyanate manufacturing businesses have expanded their production capacity, which has been a primary driver of nitrobenzene manufacturing and utilization.

Because of the increased need for different MDI products e.g. adhesives, sealants, and polyurethanes, the construction sector is the most important end-client market for nitrobenzene. It may also be used as a timber and woodwork binder. Because of these nitrobenzene uses, the housing industry utilizes around 45 percent of total nitrobenzene generated globally, including major usage in the APAC zone.

The Chinese construction sector was worth around US$ 1 trillion in 2021. It is expected to reach approximately US$ 1.2 trillion by 2023, with a growth rate of approximately 6.3%, resulting in an increase in demand for MDI applications in construction industry materials e.g. polyurethanes, and others, thereby increasing sales for the researched market.

The Indian construction business has been rising at a faster rate as a result of increased investments and rising buying power. The Indian government encourages further growth in the building sector through different programs e.g. the Pradhan Mantri Awas Yojana, which seeks to build over 19 million urban dwellings and over 29 million rural households by 2023. The aforementioned endeavor is projected to drive demand for different nitrobenzene-based raw materials, which in turn is anticipated to influence the market demand in the forecast period.

The objective of the report is to present a comprehensive analysis of the Nitrobenzene market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Nitrobenzene market dynamics, structure by analyzing the market segments and projecting the Nitrobenzene market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Nitrobenzene market make the report investor’s guide.
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Global Nitrobenzene Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 11.56 Bn.


Forecast Period 2024 to 2030 CAGR:
5.8 %
Market Size in 2030:
US $ 17.15 Bn.


 Segments Covered:
by Application
Aniline Production
Pesticide Additive
Synthetic Rubber Manufacturing
Paint Solvent
Others


by End-Use
Construction
Agriculture
Pharmaceutical
Automotive
Others


by Form
Liquid
Powder



Nitrobenzene Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Nitrobenzene Market, Key Players are
1. BASF SE
2. Aromsyn Co., Ltd.
3. Bann Quimica Ltda.
4. Finetech Industry Limited
5. China National Petroleum Corporation
6. Huntsman Corporation
7. Shandong Jinling Chemical Co.
8. The Chemours Company
9. Total S.A.
10. The Dow Chemical Company
11. Yantai Wanhua Polyurethane Co. Ltd.
12. Covestro AG
13. Tianjin Elong Co.Ltd
14. Wanhua Chemical Group Co. Ltd.
15. Sumitomo Chemical Co. Ltd.

FAQs:

1. Which is the potential market for Nitrobenzene in terms of the region?
Ans. APAC was the largest market for nitrobenzene in 2023.

2. What are the opportunities for new market entrants?
Ans. According to available data, the total output of nitrobenzene has increased significantly over the last 40 years

3. What is expected to drive the growth of the Nitrobenzene market in the forecast period?
Ans. Aniline manufacturing makes up the bulk of nitrobenzene applications.

4. What is the projected market size & growth rate of the Nitrobenzene Market?
Ans. The nitrobenzene market size was valued at US$ 11.56 Bn. in 2023 and the total Nitrobenzene revenue is expected to grow at 5.8% from 2024 to 2030, reaching nearly US$ 17.15 Bn.

5. What segments are covered in the Nitrobenzene Market report?
Ans. The segments covered are Application, End-Use, and Region.