Nitrobenzene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Form (Liquid, Powder), By Application (Aniline Production, Lubricating Oils, Dyes & Paints, Synthetic Rubber, Pesticides, Others), By Region, and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNitrobenzene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Form (Liquid, Powder), By Application (Aniline Production, Lubricating Oils, Dyes & Paints, Synthetic Rubber, Pesticides, Others), By Region, and Competition
In 2021, The global production volume of plastics was approximately 385.45 million metric tons.
The organic molecule known as nitrobenzene has the chemical formula C6H5NO2. According to its characteristics, it is soluble in water, looks like pale yellow oil, and smells like almonds. It produces greenish-yellow crystals when it freezes. This substance is produced in vast quantities from benzene, which is used to make aniline. In the lab, it is occasionally employed as a solvent, especially for electrophilic reagents. It is produced through the nitration of benzene using a solution of strong nitric acid, water, and sulfuric acid.
Due to the exothermic nature of the reaction, the production of nitrobenzene is regarded as one of the riskiest processes carried out in the chemical industry. After benzene undergoes an electrophilic aromatic substitution reaction, the nitronium ion (NO2+) is produced as part of the nitration process. The reaction of an acidic dehydrating agent, often sulfuric acid, and nitric acid, produces the nitronium ion. Aniline is made mostly from the chemical compounds that are generated. The precursor to rubber compounds, azo colors, urethane polymers, insecticides, drugs, and explosives is aniline. Hence, one of the notable elements promoting the expansion of the sector is the broad range of applications of this organic compound's derivatives.
Nitrobenzene is used in the production of various agrochemicals, such as herbicides and fungicides, which are used in agriculture to protect crops from pests and diseases. The increasing demand for food due to population growth is expected to drive demand for agrochemicals and, consequently, for nitrobenzene. Nitrobenzene is used in the production of various rubber products, including tires, belts, and hoses, which are used in the automotive industry. The growth of the automotive industry is expected to drive demand for these products and, consequently, for nitrobenzene.
The value of the Global Construction Market was estimated at about USD 12 trillion in 2019
Increasing Demand from Automotive Industry is Driving Market Growth
Future market growth for nitrobenzene is anticipated to be driven by rising demand from the automotive sector. The manufacturing, distribution, retail, and maintenance of automobiles are all included in the automotive sector. Aniline, a precursor of methylene diphenyl diisocyanate, is produced with most of the nitrobenzene utilized in its production (MDI). High-performance plastics, urethane polymers like polyurethane foams and elastomers, rubber compounds, and other automotive-related goods are produced using MDI.
For instance, according to a report from the International Energy Agency, a France-based intergovernmental organization that makes recommendations to the world's energy sector, the number of electric cars on the road has increased to 16.5 million from the previous year by almost doubling to 6.6 million (a sales share of about 9%). Hence, the nitrobenzene market is expanding because of rising demand from the automobile industry.
In addition to automotive industry, the goods and solutions industry plays a pivotal role in growing nitrobenzene market. One of the biggest forces driving the worldwide nitrobenzene market is the rising demand for aniline across all business verticals. Manufacturers provide both powder and liquid versions of these goods and services to end consumers in the Global Nitrobenzene Market. The producers and market participants in the Global Nitrobenzene Market provide distinctive product kinds that are categorized according to their intended end use, such as items that are industrial, pharmaceutical, and agricultural grade.
Increasing Demand from Aniline Production is Driving Market Growth
The application segment for nitrobenzene is anticipated to be dominated by aniline manufacturing. It is mostly made when Nitrobenzene is catalytically hydrogenated. The method involving phenyl amination to produce nitrobenzene is no longer used. Due to weak economic conditions, Mitsui was the last Japanese company to close a plant in China in 2009.
The aniline-derived methylene diphenyl diisocyanate (MDI) serves as a key precursor for polymers utilized in a variety of end-use industries, including the building and automotive sectors. Moreover, polyurethane foams made from MDI, which are primarily employed in a variety of building insulation applications, serve as one of the basic building blocks in both flexible and rigid forms.
In 2019, the Indian pharmaceutical market size was valued at USD 20.03 billion, with a growth rate of 9.8% year over year.
Increasing Demand from Agrochemicals Industry Will Drive Market Growth
Future market expansion for nitrobenzene is anticipated to be driven by the rising demand for agrochemicals. Any agent used to eliminate, dissuade, or restrain plant or animal life forms that are viewed as pests is referred to as an agrochemical. In agriculture, nitrobenzene is used as a supplement to plant growth because it promotes flowering and reduces flower loss. Nitrobenzene is a combination of nitrogen and a plant growth regulator that boosts yield while also energizing plants.
the average annual consumption of pesticides was 1.58 kg per hectare, 0.37 kg per person, and 0.79 kg for every USD 1000 of agricultural production.
Increase in Demand of Bio-Based Fertilizers are a Major Challenge for the Nitrobenzene Market
To limit the emissions of volatile organic compounds (VOCs), the European Union Commission and the US Environmental Protection Agency have adopted regulatory guidelines. These regulations are projected to raise demand for bio-based chemicals and hinder the market growth of nitrobenzene. The United States Environmental Protection Agency designated nitrobenzene as a possible occupational carcinogen, and the business is likely to face significant obstacles soon as a result. The expansion of the nitrobenzene industry will be constrained soon by rising demand for organic fertilizers because of growing environmental concerns.
Recent Developments
- To
improve the business of the organization and provide equipment,
engineering design, and advisory services for a new nitrobenzene project,
Kutch Specialties Pvt Ltd, an Indian company, was awarded a contract by
KBR Inc. in 2020 for its exclusive Plinke Adiabatic Nitrobenzene
solutions, which can be utilized to produce high purity nitrobenzene.
- The
Chemours Company said in 2020 that it would cease producing aniline,
nitrobenzene, and other chemicals at its Pascagoula, Mississippi location
in the United States. This plant was purchased by DuPont as part of the
2002 acquisition of ChemFirst and eventually integrated into The Chemours
Company's operations. In addition, the business sold a Beaumont, Texas aniline
factory to Dow in 2016.
- In April
2022, Synthomer PLC., a UK-based chemicals company acquired the adhesive
resins business of Eastman Chemical Company for USD 1 billion. This acquisition
was aimed to produce its leading positions in attractive end-markets such
as building and construction, transportation and consumables. Eastman
Chemical Company is a US-based chemicals company.
Market Segmentation
Global Nitrobenzene Market
Market Players
Total S.A.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 –
2021 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative Units |
Revenue in
USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
|
Report coverage |
Revenue forecast,
volume forecast, company share, competitive landscape, growth factors, and
trends |
|
Segments covered |
Form Application |
|
Regional scope |
North
America, Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United States,
Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, China, India, South
Korea, Japan, Singapore, Brazil, Argentina, Colombia, South Africa, Saudi
Arabia, UAE |
|
Key companies profiled |
Total
S.A., Covestro AG, BASF SE, Huntsman
Corporation, The Dow Chemical Company, The Chemours Company, Aarti Industries
Ltd., Wanhua Industrial Group, Aromsyn Co Ltd, Bann Quimica Ltda, |
|
Customization scope |
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
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options |
Avail customized
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|
Delivery Format |
PDF
and Excel through Email (We can also provide the editable version of the report
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