Aniline Market to Reach Value of Approximately US$15.66 billion by 2020
The global market for aniline is extremely consolidated in nature and top five players account for maximum share in this market. Transparency Market Research (TMR) have found that these companies such as Wanhua Chemical Group Co., Sumitomo Chemical Co Ltd, Bayer MaterialScience LLC., E. I. duPont de Nemours and Company and Huntsman Corporation are majorly focused in Asia Pacific regions mainly in India and China as an investment opportunity in order to expand their footprint and also to increase their overall share in the global market for aniline market.
These companies are majorly focused toward expanding their manufacturing capacity due to rising consumer demand from the china on account to fulfill the demand in other Asia Pacific regions.
The revenue generated from the global aniline market likely to touch a valuation of US$9.75 billion in 2013 and is anticipated to reach a valuation of US$15.66 billion by the 2020 end. The global market for aniline expand at a healthy CAGR during the course of forecast period from 2014 to 2024.
Presence of various aniline Plants in Asia Pacific region Likely to Boost Growth
On the basis of end use, the global market for aniline market could be bifurcated into Packaging, Insulation, Automotive, and rubber products and consumers goods. Among these end-use segment, automotive sector likely to dominates the global market for aniline in terms of adoption. On the geographical point of view, Asia Pacific is likely to dominate the global market for aniline on account of rising industrial sector. Furthermore, India and China Played significant role for investment in chemical industry. This can be one of the key factor propelling growth of the global aniline market in near future. Furthermore, increasing presence of aniline pants in Asia Pacific is another factor supporting growth of this market.
Increasing demand for PU Insulation in Automotive Industry Likely to Boost Growth
Rising demand for polyurethane rigid foams can be one of the key actor positively contributimng to the growth of this market in near future. Also, rising demand for PU insulation in plastic, construction and automotive is likely to boost growth of the global market for aniline. Furthermore, increasing demand for MDI in the case coating, elastomers, adhesives, and polyurethane industry is likely to be one of the major factor promoting growth of this market in near future. Furthermore, rigid forms are used in refrigerators and other various electronic appliance, this can be one of the major factor triggering growth of this market at global level. Nevertheless, Utilization of aniline in the microelectronic industry can be important factor positively contributing to the growth of the global aniline market. Aniline is utilized in the production of rubber chemicals such as antiozonants and vulcanization accelerators. This can be one of the important factor attributing growth of this market at global level.
Carcinogen property of the aniline likely to hamper Market Growth
On the other hand, the ecological effects of aniline and detrimental health are key factor negatively hampering growth of this market at global level. EPA revised for labelling aniline as a carcinogen and fluctuation of MDI price can be another factor hampering growth of this market in coming year. However, rising usage of aniline as inhibitor of corrosion of metal. This can be one of the key opportunity for the growth of the global aniline market in coming years.