Growing Demand For Synthetic Aniline In Insulation Applications For The Building Construction And Automotive Industry Are Among The Significant Factors Influencing Market Growth.
The global Synthetic Aniline Market is expected to reach USD 16.13 Billion by 2028, according to a new report by Reports and Data. The increasing demand for Synthetic Aniline in the building construction industry is expected to drive the market demand in the forecast period. Synthetic Aniline is used in the production of MDI, which in turn, is consumed to produce polyurethane, a rigid foam, which has exceptional insulating properties that makes it suitable for walls and roofs of new residential construction as well as renovation of older buildings. According to the U.S. Department of Energy, the heating and cooling costs amounts to 56.0% of the energy consumed in the average American home, and the insulating properties of rigid polyurethane foam helps in saving money while upholding uniform temperature along with reduction in noise levels.
Additionally, the insulating feature of rigid polyurethane foam is superior, and it allows construction companies to create thinner walls thinner and lower roof profiles making more spacious interiors. These foams are beneficial in reducing construction costs and utility bills.
The growing demand for Synthetic Aniline in rubber-processing is likely to fuel market growth in the upcoming years. Synthetic Aniline is used in the production of 2-mercaptobenzothiazole (MBT), which is mostly used in the rubber industry as a non-volatile vulcanization accelerator in the processing of rubber.
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Top Key Players: BASF SE, First Chemical Corporation, Covestro, Mitsubishi Chemicals, Mitsui Chemical, Sabic, Sumitomo Chemical, The Dow Chemical Company, Tosoh Corporation, and Petrochina Co. Ltd., among others.
Further Key Finding from the Report Suggestion:
By product type, synthetic Synthetic Aniline dominated the market in 2018 and is likely to grow at a rate of 5.4% in the forecast period as nearly all Synthetic Aniline produced worldwide is produced synthetically.
By application, methylene diphenyl diisocyanate (MDI) contributed to a larger market share of around 80.0% in 2018 and is projected to witness a CAGR of 6.0% in the forecast period. The majority of rigid PU foam finds application in the building construction and consumer goods industry, whereas flexible PU foam is primarily used in transportation among other areas.
By industry vertical, the building construction industry accounted for the largest market share in 2018 and is likely to grow at a rate of 6.6% in the forecast period.
The market in the Asia Pacific region held the largest market share in 2018 and is expected to witness a growth rate of 6.7% in the period 2019-2026. The market dominance of the APAC region is owing to the growth of the construction and automotive industry in the region.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Product Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Synthetic Aniline
- Bio-Based Aniline
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Methylene Diphenyl Diisocyanate (MDI)
- Others
Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Building Construction
- Rubber
- Consumer Goods
- Automotive
- Packaging
- Agriculture
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Synthetic Aniline market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Synthetic Aniline market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Synthetic Aniline market key players
3.2 Global Synthetic Aniline size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Synthetic Aniline market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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