Rapidly rising demand for Aniline in the automotive industry for interiors, such as leather covers for car seats has driven the growth of the Aniline Market.

HYDERABAD, TELANGANA, INDIA, January 16, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Aniline Market size is projected to reach US$20.7 billion by 2027, after growing at a CAGR of 7.6% during the forecast period 2022-2027. Aniline is an organic chemical compound that comprises of a phenyl group attached to an amino group, which is also known as aminobenzene or phenylamine. It has an unpleasant odor with an oily and colorless appearance. The increasing requirement for aniline in the electrical & electronics industry for the manufacturing of electronic consumer devices is anticipated to upsurge the growth of the aniline industry during the forecast period. The electrical & electronics industry is growing, for instance, according to Invest India, domestic production of electronics hardware reached US$76 billion in 2019-2020, with a CAGR of around 23% and production-linked incentives of INR 40,951 crores (US$5544 million), funded over a period of 5 years. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Aniline Market highlights the following areas -

1. The Asia-Pacific region dominates the Aniline market owing to the rising growth in the building and construction industry. For instance, according to Invest India, by 2025, the building and construction industry is estimated to reach US$1.4 trillion.

2. The increasing demand for Aniline in the electrical & electronics sector, due to its usage in the manufacturing of insulation materials such as insulated wires and electronic consumer goods, has been a critical factor driving the growth of the aniline market in the upcoming years.

3. However, the health and environmental issues associated with aniline can hinder the growth of the aniline market.


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Segmental Analysis:

1. The methyl diphenyl diisocyanate (MDI) segment held the largest Aniline Market share in 2021 and is estimated to grow at a CAGR of 7.4% during the forecast period 2022-2027. Methyl diphenyl diisocyanate (MDI) is mainly applied in the manufacturing of polyurethanes for various applications, such as the manufacture of rigid polyurethane foams for home furnishing and insulation. Insulation manufactured with methyl diphenyl diisocyanate (MDI) helps to conserve energy. Methyl diphenyl diisocyanate is utilized in manufacturing product items such as insulation, adhesives, sealants, furnishing and automotive interiors.

2. Asia-Pacific region dominated the Aniline Market share by 42.2% in the year 2021, due to the increasing requirement for aniline in developing countries such as China, Japan, India and South Korea. China is expected to continue its dominance in the aniline market, also known as aminobenzene or phenylamine, during the forecast period, due to the growing building & construction industry in the country.

3. The building & construction industry held the largest Aniline Market share in 2021 and is estimated to grow at a CAGR of 7.8% during the forecast period 2022-2027. In the building & construction industry, aniline is an important chemical utilized in manufacturing rigid polyurethanes that are applied as an insulating material.


Competitive Landscape:

The top 5 players in the Aniline Industry are -

1. BASF Corporation
2. Bayer Material Science
3. Petrochina Co. Ltd.
4. EiDupont De Nemours
5. First Chemical Corporation

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