April 18, 2024

Aniline Market Growth Accelerated By Demand From Paints And Coatings Industries

Aniline is primarily used in the production of polyurethanes, certain dyes and pigments, agricultural chemicals, rubber antioxidants, pharmaceuticals, and synthetic fibers. It is a precursor compound in the manufacturing of rubber processing chemicals, agricultural chemicals, dyes, and pharmaceutical drugs. The increasing demand for paints and coatings from the construction and automotive industries is propelling the growth of the global aniline market.

The global Aniline Market is estimated to be valued at US$ 10 Billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Aniline is predominantly used in manufacturing of paints and coating materials. It acts as an intermediate in the production of various pigments and dyes which are further used in manufacturing paints and coatings. The increasing construction and automotive production across the globe has led to surge in demand for paints and coatings which in turn is propelling the aniline market growth. Developing nations in Asia Pacific and Middle East are witnessing significant growth in construction activities which is auguring well for the paints and coatings industry thereby contributing to the market growth of aniline over the forecast period.

Segment Analysis

The global aniline market is segmented by type, application, and region. Based on type, the market is segmented into building blocks, polymers, monomers and intermediates. The building blocks segment holds the highest market share and is expected to remain the dominating segment over the forecast period. This is owing to increasing demand for aromatic amines for dye manufacturing.

Key Takeaways
The Global Aniline Market Size is expected to witness high growth over the forecast period.

The Asia Pacific region currently dominates the global aniline market and is expected to remain the fastest growing regional market during the forecast period. This is attributed to the presence of large number of dye manufacturers especially in China and India. These countries account for the majority share of global aniline consumption.

Key players operating in the aniline market are BASF SE, The Chemours Company, Huntsman International LLC, Covestro AG, Sumitomo Chemical Co., Ltd., Tosoh Corporation, and SP Chemicals Holdings Ltd. BASF SE is a global leader in aniline production and holds around 15-20% of the global market share.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it