Leading market research company Transparency Market Research has published a new research report, titled ‘Aniline Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.’ The report deals with the various aspects of the global aniline market and presents a comprehensive overview of the market for the benefit of industry players and other market stakeholders.
According to the report, the global aniline market was worth US$9.7 bn in 2013. Rising at a promising CAGR in the aforementioned forecast period, the market is expected to be worth US$15.6 bn by 2020. The major factor propelling the global aniline market is its usage as the precursor of methylene diphenyl diisocyanate (MDI) and the diverse end uses of the latter.
MDI obtained from aniline is used in applications such as insulation, consumer goods, residential and automotive furnishings, and automotive interiors. It is also an important intermediate in the production of adhesives, coatings, sealants, elastomers, and polyurethane foams. Manufacture of MDI accounts for 75% of the global aniline market, illustrating the close relationship the latter has with the demand for the former.
Many of these end-use industries of MDI are rising rapidly, propelling the MDI and thus aniline market. The demand for consumer goods and cars, in particular, is rising due to the growing prosperity of Asia Pacific and Latin American consumers, driving the global aniline market. Both these industries have traditionally relied on demand from North America and Europe, but in recent years, industrialization and urbanization in developing countries such as China and India have led to the automotive industry in both these countries posting bumper figures and these two countries emerging as major markets for consumer goods. The application of aniline in the manufacture of several rubber processing chemicals has also aided the global aniline market, since rubber tires are an indispensable part of vehicles and are thus growing in demand hand in hand with the automotive industry.
Accordingly, the Asia Pacific market for aniline is the largest regional segment of the global market, according to the report. The Rest of the World market holds the second largest share in the global market. These regions are expected to remain the leading regional segments of the global aniline market in the coming years, since the automotive and consumer goods industry in these regions is showing no signs of slowing down. China remains the largest national market for aniline and is expected to remain so in the forecast period.
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The toxicity of aniline to humans is one of the factors restraining the global aniline market. Its harmful effects on the environment are also causing concern owing to the large scale of usage of aniline in the modern world.
Major market players examined in the report include global chemicals giants such as BASF SE, Huntsman Corporation, and Bayer MaterialScience LLC.
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