Global Aniline Market Expected To Be $ 25,070.05 Million By The End Of 2027, According To Coherent Market Insights (CMI)
SEATTLE – (BUSINESS WIRE) – Aniline belongs to the class of aromatic chemicals. The formula C₆H₄, or simply aniline, is made up of an amino acid (histidine) and a non-amino acid (yrachidonine). The reaction of the first reaction produces a methyl group from a l-histidine molecule. This chemical can be broken down into other compounds, and when this process happens in the lab, other amines are called out. Aniline has been used successfully to produce dyes for leather products. Since the coloring agent has low solubility in water, it is often added in small amounts to other dyes. Aniline dyes are not suitable for use in hair or skin dye because their solubility prevents them from absorbing the dye. Due to this characteristic, they have been effectively used in dye test bottles to determine the presence of hazardous chemicals in cosmetics, pharmaceuticals, and food.
The Global aniline market is supposed to represent US $ 25,070.05 Mn in terms of value by the end of 2027, with a CAGR of 7.0%.
The growing demand for aniline from the rubber processing chemicals industry is driving the growth of the aniline market. These chemicals are used in the processing of latex because they are useful in improving durability, adding strength and toughness to latex, and improving elasticity. Additionally, the increasing use of other chemicals such as anti-degradants, stabilizers, antioxidants, and antiozonants is further expected to propel the growth of aniline during the forecast period.
Growing application of aniline in coatings and textile industry is increasing the growth of aniline market. Aniline is also used as an anti-knock and as a solvent for gasoline which further strengthens the market growth. The market is also expected to experience growth due to the rapid growth of the textile industry. According to the India Brand Equity Foundation, the Indian textile industry contributed 7% of the industry’s output (in value) in 2018-2019. India’s textiles and clothing industry contributed 2% to GDP, 12% to export earnings and held 5% of global textiles and clothing trade in 2018-2019.
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The increasing concentration of major players to develop aniline of biological origin due to the increasing environmental concerns is expected to provide potential growth opportunities to the market in the near future. For example, in September 2017, Covestro developed a 100% bio-based aniline using a biomass feedstock. Covestro (formerly Bayer MaterialScience) has been very active in the development of bio-based materials and chemical intermediates.
The rapid growth of the automotive industry in the Asia-Pacific region is creating a demand for rubber products. This should bring brilliant market opportunities for the players. According to the India Brand Equity Foundation, domestic auto production increased by 2.36% CAGR between FY16-20 with 26.36 million vehicles manufactured in the country during FY20. Overall, domestic auto sales increased 1.29% CAGR between FY16-FY20 with 21.55 million vehicles sold during FY20. Thus, such growth in the automotive industry favors the growth of the aniline market.
An increasing number of partnerships and distribution agreements between key players for business expansion is an increasing trend in the market. This will promote the growth of the aniline market. For example, in November 2018, Tianji Group and Gemoil (Singapore) Pty Ltd signed a processing trade project for 20,000 tons of aniline at the China International Import Expo in Shanghai.
Rising preferences for home furnishings due to increasing consumer disposable income is expected to be an emerging trend in the aniline market.
- BASF SE
- Bayer MaterialScience LLC
- EI du Pont de Nemours et Compagnie
- Huntsman Corporation
- Jilin Connell Chemical Industry Co., Ltd.
- SP Chemicals Holdings, Ltd.
- Sumitomo Chemical Co., Ltd.
- The Dow Chemical Company
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