Nitrobenzene Market is commonly used to manufacture aniline, pesticides, synthetic rubber and lubricating oil. Anile production is most prominent and it consumes over 95% of nitrobenzene. The product serves as a base for synthesis of aniline which is used to produce polyurethane to be utilized in manufacturing insulators used in construction industry. With the growing automotive industry, the demand for tyre is likely to increase henceforth increasing the production of synthetic rubber which is manufactured using nitrobenzene. This results in overall increase in product demand across globe.
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The market is segmented into pharmaceuticals, agriculture, and industrial applications. Agriculture dominated the nitrobenzene market in 2015 and is likely to project growth in the forecast period. This is due to ever growing demand of fertilizers which are manufactured using the product thereby leading to increasing product demand over the globe.
Regionally, Asia pacific is the most competitive market for nitrobenzene due to growing agriculture industry in China, India, Philippines, Bangladesh and Pakistan. This is due to increasing demand of fertilizer thereby leading to growing market size of the product in Asia Pacific. With considerable amount of growth in construction industry and easy availability of cheap labour and raw material in China, it has captured majority of share in Asian Pacific market. Increasing production of pharmaceuticals, dyes, pesticides and chemical industry has also added to the growing market size of product in Asia Pacific. With development of construction and automotive industry in Mexico, it is likely to increase the demand of rubber derivatives henceforth having a positive impact on nitrobenzene market. There is a vast manufacturing base of nitric acid in US which will accommodate the product manufacturers in the vicinity.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the nitrobenzene market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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The key global players of nitrobenzene market include BASF SE, Bayer AG, DuPont Chemical Solution Enterprise, Huntsman Corporation, Shandong Jinling Chemical Co., Yantai Wanhua Polyurethane Corporation Limited, Bann Quimica Limited, Sumitomo Chemical Corporation Limited, BP PLC (U.S), Exxonmobil Corporation, China National Petroleum Corporation (CNPC) , The Dow Chemical Company, JX Nippon Oil And Energy Group, SABIC, Royal Dutch Shell PLC, Tianjin Elong Corporation Limited, Yantai Wanhua Polyurethane Corporation Limited, and Chevron Phillips Chemical. The market is consolidated with most players operating in Asia Pacific region mainly China. The chemical manufacturers are focussing on shifting to production of bio-based chemicals to reduce greenhouse gas emission due to volatile organic compounds which are hazardous to environment. This is a probable threat to the nitrobenzene market during the forecast period.
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