Synthetic & Bio-based Aniline Market was estimated over USD 11.5 billion in 2016 and will surpass USD 19 billion by 2024. Synthetic Aniline Market industry will likely grow by a CAGR of about 6.5% up to 2024; according to a new research report by Global Market Insights, Inc.

Sellbyville, DE -- (SBWire) -- 01/31/2019 --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.

Growth drivers

1. High construction spending in Asia Pacific
2. Increasing automotive production in Asia Pacific and North America
3. Rising demand for MDI

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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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

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High growth in Asia Pacific packaging industry will augment the synthetic & bio-based aniline demand throughout the forecast years as the product is a precursor to MDI, which in turn is used in manufacturing polyurethane foams. Polyurethane is extensively used to manufacture rigid as well as flexible plastic packaging materials and their rising demand for interstate to transcontinental transportation of substances boosted by the growing logistics industry will supplement the synthetic & bio-based aniline market up to 2024. The global plastic packaging market was valued at around USD 285 billion in 2016 and is set to exceed 400 billion in 2024.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BASF
2. The Chemours Company
3. Huntsman Corporation
4. The Dow Chemical Company
5. Sumitomo Chemical: Group Companies of the Americas
6. Sinopec Argentina Exploration and Production, Inc.
7. Covestro
8. Tosoh Corporation
9. Wanhua Chemical Group Co., Ltd. (formerly Yantai Wanhua Polyurethanes Co., Ltd.)
10. Hindustan Organic Chemical Ltd
11. BorsodChem Zrt.
12. Jilin Chemical Fibre Co ., Ltd
13. Shandong Jinling Mining Co., Ltd
14. Volzhsky Orgsintez JSC

Robust growth in Asia Pacific FMCG industry will boost demand for plastic packaging materials, which will drive the synthetic & bio-based aniline market throughout the forecast timespan. The Indian FMCG sector was valued over USD 45 billion in 2016 and is likely to cross USD 100 billion in 2024. Fast growth in Chinese consumer goods industry, valued over USD 4.6 trillion in 2016, will also boost demand for plastic packaging materials which will eventually influence the industry development. Rising demand for packaged food & beverage products in the U.S. and developing countries of Latin America, Asia Pacific, and Middle East will also contribute towards synthetic & bio-based aniline market growth.

The synthetic & bio-based aniline market is categorized into two processes which are substitution of chlorobenzene and reduction of nitrobenzene. Reduction of nitrobenzene is a more popular process accounting for most of the market in 2016. This segment will generate beyond USD 18 billion by 2024.

Rubber processing chemical is a significant application segment for the synthetic & bio-based aniline market which will generate a revenue beyond USD 1.5 billion in 2024. Increasing tire demand from the rapidly growing automotive industry in Asia Pacific and North America will drive aniline usage as rubber processing chemicals.

Among the end-users, product demand for transportation will exceed USD 2.5 billion by 2024, gaining by about 6.5% CAGR. Rising automotive production in Asia Pacific will augment the segment's growth throughout the forecast spell. By 2024, adhesives & sealants segment will account for around 10% of the total market in terms of volume, gaining the synthetic & bio-based aniline market by above 6% CAGR.

Major manufacturers in the synthetic & bio-based aniline market include Chemours, BASF, Dow Chemicals, Huntsman, Sinopec, Sumitomo Chemical, Tosoh Corporation, Covestro, Hindustan Organic Chemicals, Yantai Wanhua Polyurethane Company, BorsodChem, Jilin Connell Chemical Industry, Volzhsky Orgsintez, Shandong Jinling Group, SP Chemicals, etc.

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.