Aniline is an organic chemical molecule made composed of a phenyl group and an amino group. It is mostly utilized in the manufacture of polyurethane and other chemical goods.
The worldwide aniline market was valued at US$ 14,591.0 Mn in 2019 and is estimated to increase at a CAGR of 7.0 percent during the forecast period (2020-2027).
The increasing demand for aniline from rubber processing chemicals applications is expected to drive market expansion. Rubber processing chemicals are employed in the processing of latex because they promote durability, robustness, strength, and elasticity. Other chemicals utilized in the rubber processing industries, such as antioxidants, stabilizers, antidegradants, and antiozonants, are also likely to drive market expansion.
The increasing usage of aniline rafts in the coatings and textile industries is expected to drive market expansion. Furthermore, aniline is utilized in the pulp and paper and pharmaceutical sectors, which is projected to drive aniline market expansion. Furthermore, it is employed as a gasoline antiknock additive and solvent, which is expected to drive aniline market expansion throughout the forecast period.
In 2019, the Asia Pacific region dominated the worldwide Aniline market, accounting for 40% of the total value, followed by Europe and North America.
The new Coronavirus (COVID-19) is predicted to boost aniline market demand due to the increased need for products in different end-use sectors such as packaging, consumer goods, and agriculture.