Market Size of Aniline Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aniline Market Analysis
The aniline market is projected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted by the COVID-19 outbreak in 2020 when supply was disrupted due to a worldwide lockdown. Furthermore, all construction and other activities were put on hold to curb the spreading of the virus, thus, negatively affecting the market. However, the market is expected to recover by 2023.
- The major factor driving the market is the increasing demand for MDI in coatings, adhesives, sealants, and other industries.
- However, the detrimental effect of methemoglobin on health is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Innovation in producing aniline from biomass is expected to act as an opportunity for the market in the future.
- Asia-Pacific dominated the market studied with about 50% share and is expected to witness the highest CAGR.
