Aniline Derivatives Market: Introduction
Transparency Market Research delivers key insights on the global aniline derivatives market. In terms of revenue, the global aniline derivatives market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global aniline derivatives market. Increase in environmental concerns and stringent government regulations are likely to hamper the global aniline derivatives market during the forecast period. On the other hand, rise in the demand for aniline derivatives in rubber and paints & Inks industries is expected to drive the aniline derivatives market.
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Aniline Derivatives Market: Dynamics
The global competition in the automotive sector has created challenges in engineering of timing belts with increase in under-the-hood temperatures due to hotter running engines and compact engine compartments. Synthetic rubber is used to design such timing belts. The demand for synthetic rubber has been rising in industrial, automotive, and performance-demanding applications, due to its unique properties. Synthetic rubbers such as nitrile butadiene rubber and polychloroprene are widely used in timing belts for cars, due to their good static and dynamic properties at operational temperatures and good retention properties under continuous heat exposure.
Aniline derivatives are widely used chemicals for rubber synthesis, as they boost strength and yield. Their high solubility provides versatility for rubber applications such as car tires. Therefore, rise in demand for rubber products in the automotive industry is anticipated to propel the global aniline derivatives market during the forecast period.
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The consumption of textiles depends directly on the growth of population and consumer-spending levels, as clothing is one of the basic needs of human beings. According to the United Nations, the global population is estimated to reach 8.5 billion by 2030 and exceed 9.1 billion by 2050. This is anticipated to augment the demand for apparel and clothing in the near future. Of late, China and India have been performing strongly in terms of apparel production and consumption. These economies are expected to maintain high growth rate in the near future. This is anticipated to be a major driver of the apparel industry in China and India during the forecast period. The growth of end-use industries, such as apparel and clothing, in developing countries is likely to lead to a trickle-down effect on the local manufacturing value chain, thereby benefitting domestic manufacturers. Production and consumption of textiles and apparel have shifted from the traditional production centers such as the U.S. and Western Europe toward Asia. Dyes and pigments are widely used in the textile industry. Aniline derivatives are used for processing of dyes and pigments. This is fueling the demand for aniline derivatives in the textile market.
Aniline Derivatives Market: Prominent Regions
Asia Pacific dominates the global aniline derivatives market. The paints & inks industry in the region is estimated to expand at a rapid pace between 2021 and 2031. This, in turn, is projected to boost the demand of aniline derivatives in Asia Pacific, as aniline derivatives are widely used in paints & inks industry. China is anticipated to be a highly attractive country of the aniline derivatives market in Asia Pacific during the forecast period. End-use industries such as rubber, paints & inks, and textile are witnessing strong growth in the country, due to the rise in urbanization and increase in disposable income of the people. This has boosted the demand for aniline derivatives in China.
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North America is likely to be another highly attractive region for aniline derivatives during the forecast period. The U.S. held the major share of the global aniline derivatives market in North America in 2020.
Aniline Derivatives Market: Key Players
Prominent players operating in the global aniline derivatives market are Azelis, Iwaki Seiyaku Co.,Ltd., Aarti Industries Ltd, Industrial Solvents & Chemicals Pvt. Ltd, Kutch Chemicals, Panoli Intermediates India Private Limited, Mitsuboshi Chemical Co.,Ltd, Karoon Petrochemical Company, Premier Group of Industries, Honshu Chemical Industry Co., Ltd, Deepak Novochem Technologies Limited, Indus Chemicals, Valiant Organics Limited, JIGCHEM UNIVERSAL, and Black Rose Industries Ltd.
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