Global Nitrobenzene Market 2017-2021

Overview of the global nitrobenzene market

According to Technavio’s market research report, the global nitrobenzene market will grow at a CAGR of more than 3% during the forecast period. The increasing demand for polyurethane foam will drive the growth prospects for the market until the end of 2021. Polyurethane foam has two major constituents namely toluene diisocyanate (TDI) and methylene diphenyl isocyanate (MDI). MDI is primarily used to produce rigid polyurethane foams, whereas, TDI is used as the key raw material to manufacture flexible polyurethane foams. This foam is used in the automotive, transportation, and bedding and furniture industries. The demand for polyurethane is increasing since they exhibit environmental benefits such as reduction in wastage. Additionally, polyurethane foams have high recyclability and sustainability and they also have high resistance to chemicals, high elastic and insulating properties, and mechanical strength. This will increase the applications of polyurethane foam, which in turn, will have a positive impact on the growth of the nitrobenzene market.

The economic growth of countries in APAC will be one of the key trends that will stimulate the growth of the nitrobenzene market during the projected period. Owing to the expanding population and the economic development of countries, APAC is witnessing the growth of major end-user industries including automotive, aerospace and defense, building and construction, electrical and electronics, and construction. This will subsequently drive the growth of the market since nitrobenzene acts as the precursor to aniline which is used for various applications including insulation, rubber products, consumer goods, transportation, and packaging.

Competitive landscape and key vendors

The nitrobenzene market has the presence of a number of well-established and regional players and is dominated by of few international vendors. These vendors possess massive production facilities spread across the globe and have a vast geographical presence. The vendors increasingly compete against each other based on factors such as innovation, price, operational cost, and product quality. Suppliers with better financial and technological resources can withstand changes in market conditions. With the increasing demand for nitrobenzene, key vendors are focusing on research and developmental activities to come up with new product applications.

Key vendors in this market are -

• BASF
• Chemours
• Covestro
• Huntsman
• Wanhua Industrial

Other prominent vendors in the market include Aromsyn, Bann Química Ltda, Connell Chemical Industry, Nanjing Chemical Industries, and SP Chemicals.

Segmentation by application and analysis of the nitrobenzene market

• Aniline production
• Other applications

Almost 98% of nitrobenzene is used to manufacture aniline. Aniline is an aromatic amine and is used to create insulation products, rubber products, packaging products, and agriculture products. They are also used in industrial applications as a precursor to manufacture methylene diphenyl isocyanate (MDI). MDI is used to manufacture rigid and flexible PU foam, coatings, elastomers, sealants, and adhesives. The growing demand for aniline in applications such as furnishing, consumer goods, and automotive interiors and upholstery will directly influence the adoption of nitrobenzene across various industries during the predicted period.

Segmentation by geography and analysis of the nitrobenzene market

• APAC
• Europe
• North America
• ROW

Owing to the high demand for nitrobenzene from various end-user industries such as construction, agriculture, pharmaceuticals, cosmetics, and automotive, APAC accounted for the major shares of the nitrobenzene market during 2016. Additionally, government regulations in the agricultural-based countries of APAC also encourages the use of nitrobenzene in fertilizers. With the availability of cheap labor and relaxed regulations, nitrobenzene companies are focusing on shifting their manufacturing facilities from Western Europe and North America to APAC. The region will continue to account for the largest shares during the predicted period as well and this will attribute to the rise in demand for nitrobenzene from various industries including automotive, aerospace and defense, bedding and furniture, and building and construction.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global nitrobenzene market?
• What are the key market trends impacting the growth of the global nitrobenzene market?
• What are the challenges to market growth?
• Who are the key vendors in the global nitrobenzene market?
• What are the market opportunities and threats faced by the vendors in the global nitrobenzene market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global nitrobenzene market?

Technavio also offers customization on reports based on specific client requirement.

Nitrobenzene is the primary raw material for aniline, which itself is used primarily for MDI production. This upcoming research report on the global nitrobenzene market offers insights into the key trends and emerging drivers influencing the growth of the chemicals and materials industry. Our market research reports for the chemicals and materials industry also follow an extensive data collection methodology and offer an analysis of fast growing market segments like specialty chemicals.

By considering the market forecast and size and the surging demand for various chemicals the market research experts at Technavio offer a comprehensive picture of the global nitrobenzene market for the estimated period of 2017 to 2021. This upcoming market research report on the global nitrobenzene market also covers vendors like Huntsman Corporation, BASF SE, Tianjin Elong Co., Ltd., Dupont Chemical Solutions Enterprise, and Bayer AG.

This upcoming industry report on the global nitrobenzene market also considers the growth of the related chemicals market such as the polyisobutylene (PIB), which is expected project a CAGR of above 5% during the forecasted period. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the global nitrobenzene market also covers geographies like APAC, North America, Europe, and ROW.

The upcoming industry research report on the global nitrobenzene market also categorizes the key drivers, major trends, as well as the imminent challenges that the paints, coatings, and pigments sector is currently experiencing. It also presents intelligence into the rapidly changing market dynamics to give clients a complete view of the forthcoming events within the chemicals and materials industry. Technavio also provides deep-dive market assessments into the sectors such as paints, coatings, and pigments and olefins.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.