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Asia Pacific Synthetic & Bio-based Aniline Market Size to Witness Steady Growth at 40% CAGR During 2024

Author : Ronak Bora | Published Date : 2019-07-03 

Asia Pacific is a significant regional synthetic & bio-based aniline market which will account for around 40% of the global industry in 2024. Rising polyurethane packaging material production in China along with the fast-developing automobile and construction industries will significantly contribute to the regional synthetic & bio-based aniline market development.

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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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.

Consequential instances depicting the magnitude of M&As in synthetic & bio-based aniline industry

  • In 2016, the chemical cosmos was ablaze with the news of Chemours Co. selling its aniline facility to Dow. Having been initiated in the last quarter of 2015, The Dow Chemical Company signed a definitive agreement with the well-known synthetic & bio-based aniline market participant, Chemours Co. to purchase its aniline production facility at Beaumont, Texas, for a valuation of approximately USD 140 million. Apparently, the Wilmington-based company had sold the plant as a part of its strategy to divest USD 350 million from its budget by 2017.

As per the terms of the deal, Chemours is also expected to meet Dow’s additional requirement for aniline by supplying the precursor from its facility at Pascagoula, Mississippi. Selling its Texas plan to Dow has been touted to be a rather well-thought out tactic by the synthetic & bio-based aniline industry giant, since Dow has been Chemours’ biggest aniline customer since decades.

  • China has been touted to be the next epicenter for the growth of synthetic & bio-based aniline market. The year 2016 witnessed the China synthetic & bio-based aniline market player, Jilin Connell Chemical Industry Co. selecting Honeywell UOP’s Advanced MTO (methanol-to-olefins) process for deploying coal resources to manufacture propylene and ethylene for plastics. Given the extensive demand for plastics in the packaging sector, it goes without saying that Connell’s collaboration with Honeywell will accelerate the demand for plastic from the packaging sector, which in a way, will indirectly have a marginal effect on synthetic & bio-based aniline industry.
  • In 2014, renowned firms partaking in synthetic & bio-based aniline market share including the likes of BASF SE, Shanghai Huayi, Huntsman Corp., SINOPEC, and the Shanghai Chlor-Alkali Chemical Co., Ltd., had planned to construct a new plant that would manufacture close to 240,000 MT (metric tons) of crude diphenylmethane diisocyanate (MDI) on an annual basis at Shanghai Lianheng Isocyanate Co. Ltd., located in Caojing, China. The new plant was expected to commence in the year 2017 and has been designed with an aim to double the capacity of MDI production to 480,000 metric tons/year. This has undeniably propelled synthetic & bio-based aniline industry, given that aniline is extensively used in manufacturing MDI.

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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.

Synthetic & bio-based aniline market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:

Synthetic & Bio-based Aniline Market by Process

  • Reduction of nitrobenzene
  • Substitution of chlorobenzene

Synthetic & Bio-based Aniline Market by Product

  • Synthetic aniline
  • Bio-based aniline

Synthetic & Bio-based Aniline Market by Application

  • MDI
  • Rubber processing chemicals
  • Agrochemicals
  • Dyes & pigments
  • Others

Synthetic & Bio-based Aniline Market by End-user

  • Construction
  • Rubber products
  • Transportation
  • Consumer goods
  • Adhesives & sealants
  • Packaging industry
  • Textile
  • Agriculture
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa

GCC

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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