The global nitrobenzene market has reached a valuation of US$ 11.82 billion in 2023 and is forecasted to climb to US$ 19.72 billion by 2033-end. Worldwide demand for nitrobenzene is projected to rise at 5.2% CAGR over the next ten years (2023 to 2033).
Nitrobenzene is an organic chemical that is produced on a large scale by the nitration of benzene. Nitrobenzene plays a crucial role in the production of aniline, which is an essential component for MDI manufacturing and hence shipments of nitrobenzene are projected to follow the demand outlook for MDI and aniline in the long run.
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Key Takeaways from Market Study
- The global nitrobenzene market stands at a valuation of US$ 11.82 billion in 2023.
- Worldwide demand for nitrobenzene is projected to expand at a CAGR of 5.2% from 2023 to 2033.
- The market is anticipated to achieve a revenue total of US$ 19.72 billion by 2033.
- Rapid industrialization and urbanization, growing chemical manufacturing activity, high demand for (methylene diphenyl diisocyanate) MDI-based products, and rising automotive manufacturing are set to be prime market drivers through 2033.
- Strict laws to regulate environmental conservation and the growing availability of alternative aniline production methods are expected to have a hampering effect on overall market potential.
- The market in the Asia Pacific region is estimated to hold a dominant position by the end of the forecast period.
- Aniline production is estimated to account for more than 80% share of global nitrobenzene sales by 2033-end.
“The Asia Pacific region is projected to offer highly lucrative growth scope owing to rapid urbanization and industrialization in several countries,” says a Fact.MR analyst
Competitive landscape:
Top-tier nitrobenzene suppliers are making efforts to expand their business scope by improving their production capacities, allowing them to cater to more industries and generate more revenue.
- In 2021, Sadhana Nitro Chem Ltd., a leading producer of nitrobenzene based in India, made its para ameno phenol (PAP) plant live in two phases. The plant started producing PAP using a proprietary manufacturing process based on green principles and utilizes nitrobenzene, which is also produced by Sadhana Nitro Chem.
- In September 2021, Karun Petrochemical Company, the first company to produce nitrobenzene and isocyanates in the Middle Eastern region, revealed that they had witnessed a substantial increase in their MDI and MDI-based pre-polymer output.
Key Companies Profiled In This Report
- Huntsman Corporation
- BASF SE
- Shandong Jinling Chemical Co. Ltd.
- Covestro AG
- Chemours Company
- The Dow Chemical
- Bann Quimica Ltd.
- Wanhua Chemical Group Co. Ltd.
- Aromsyn Co. Ltd.
- Finetech Industry Limited
- Tianjin Elong Co. Ltd.
- Total SA
Key Segments of Nitrobenzene Industry Research:
· By Form :
- Liquid
- Powder
· By Application :
- Paint Solvents
- Pesticide Additives
- Aniline Production
- Synthetic Rubber Manufacturing
- Others
· By End-use Industry :
- Automotive
- Pharmaceuticals
- Agriculture
- Construction
- Others
· By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Nitrobenzene include:
- What is the key strategy deployed by large players to maximize Nitrobenzene Market growth?
- What are the main challenges faced by players in the Nitrobenzene market Demand?
- With the advent of technological advancement, how will the Nitrobenzene market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Nitrobenzene market size?
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