Synthetic & Bio-based Aniline Market Outlook | Development Factors, Latest Opportunities and Forecast 2025
Category: #reports  By Rahul Sankrityayan  Date: 2020-04-17
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Synthetic & Bio-based Aniline Market Outlook | Development Factors, Latest Opportunities and Forecast 2025

One of the key factors that has been forecast to propel synthetic & bio-based aniline market is the establishment of new aniline facilities across myriad geographies. The Ministry of Chemicals and Petrochemicals, for instance, in 2014, had taken Hindustan Organic Chemicals Ltd. (HOCL) under its wing, on a top priority basis, as a part of its public-sector restructuring program. A valuation of close to INR 500 crore had been spent by the government for the same, and a vital part of the project was inclusive of the Rasayani plant that manufactures aniline, nitric acid, and other chemicals. Endowed with government grants and a broad end-use array, synthetic and bio-based aniline industry size has been forecast to depict a CAGR of 6.5% over 2017-2024.

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Top Companies

  1. BASF SE
  2. The Chemours Company
  3. Huntsman
  4. Dow Chemicals
  5. Sumitomo Chemical Co Ltd
  6. Sinopec
  7. Covestro
  8. Tosoh Corporation
  9. Yantai Wanhua Polyurethane Co Ltd
  10. Hindustan Organic Chemicals Limited
  11. BorsodChem MCHZ
  12. Jilin Connell Chemical Industry Co. Ltd.
  13. Volzhsky Orgsintez JSC
  14. Shandong Jinling Group Co.
  15. SP Chemicals Holdings

Growth drivers are

  • High construction spending in Asia Pacific
  • Increasing automotive production in Asia Pacific and North America
  • Rising demand for MDI

Covestro has been deploying aniline as a feedstock for a considerably long while now for manufacturing rigid polyurethane foams that find applications across numerous end-use sectors. Currently, Covestro, following the lines of its contemporaries, has been manufacturing aniline from benzene, however, the synthetic & bio-based aniline industry giant has derived a new aniline development process that uses industrial sugar manufactured from an organic source that does not compete with food. If and when commercialized, this product is likely to bring about a revolution in synthetic & bio-based aniline market. Mobilized by sustainability trends, synthetic and bio-based aniline industry size, it is forecast, will exceed USD 19 billion by 2024.

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One of the latest trends making inroads in Synthetic & Bio-Based Aniline Market is that of manufacturing biologically derived anilines, pertaining to the ongoing furor regarding environmental safety. Anilines, traditionally manufactured from nitrobenzene, are utilized to develop rubber processing chemicals, dyes & pigments, agrochemicals, and MDI, which are further used in a slew of end-use domains such as the rubber, transportation, automotive, construction, textiles, packaging, consumer goods, agriculture, and adhesive & sealant sectors. Encompassing such a widespread end-use spectrum demands extensive aniline production, which would perceivably result in the growth of synthetic & bio-based aniline market.

Riding along the prospective path of sustainability, major companies partaking in synthetic & bio-based aniline market share have been attempting to develop anilines from natural material instead of traditional benzene. One of the key companies that has made it to the headlines for the same is Covestro.

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About Author

Rahul Sankrityayan

Email: [email protected]news.marketsizeforecasters.com   

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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