Nitrobenzene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Nitrobenzene Market Trends and Uses and is segmented by Application (Aniline Production, Dyes and Pigments, Pesticides, Intermediate in Pharmaceuticals, and Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report offers market size and forecasts for nitrobenzene in volume (kilo tons) for all the above segments.

Nitrobenzene Market Size

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Nitrobenzene Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 3.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Nitrobenzene Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Nitrobenzene Market Analysis

The Nitrobenzene Market is expected to register a CAGR of more than 3.5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, the decrease in demand for various nitrobenzene derivative-based products negatively impacted the market demand. However, the demand for paracetamol derived from the nitrobenzene derivative aniline increased, stimulating the demand for the nitrobenzene market. Nevertheless, the market started to gain pace in the post-pandemic era and was expected to continue the same trajectory.

  • Over the medium term, the increasing demand for nitrobenzene to produce aniline, the easy availability of raw materials, and the growing construction activities in the Asia-Pacific region are expected to drive the market's growth.
  • On the contrary, the growing demand for bio-based chemicals will likely hinder the market's growth.
  • Various investments in the construction industry across the globe are likely to act as opportunities for the market studied.
  • Asia-Pacific dominated the global market, with the largest consumption in countries such as China, India, etc.

Nitrobenzene Market Trends

Increasing Demand for Aniline Production

  • Aniline production accounts for the largest share of nitrobenzene's application, accounting for more than 90% of the share. It is majorly produced by the catalytic hydrogenation of nitrobenzene.
  • The aniline-derived methylene diphenyl diisocyanate (MDI) is a key precursor for polymers in various end-use industries, including the building and automotive sectors.
  • Organization Internationale des Constructeurs d'Automobiles (OICA) estimates that the total number of new car sales and registrations in the OICA member nations was close to 69 million units in 2022, 1% fewer than the 69.5 million units registered in the prior year. This will result in a decline in the demand for MDI-based elastomers and polymers like polyurethane, which are used to make various automotive parts, including steering components, airbag covers, waterproof floor materials, bumpers, and others.
  • Furthermore, polyurethane foams produced from MDI, mainly used in various building insulation applications, act as one of the major components in construction, both in their flexible and rigid form. The US Census Bureau estimates that the United States spent USD 1,809.8 billion on construction-related expenses in December 2022. Comparing December 2022 to December 2021, when the total amount spent was USD 1,681.0 billion, the construction sector rose roughly 7.7%. This, in turn, would have helped the market for phase change materials to grow.
  • The pharmaceutical sector is one of the global markets with the highest growth, particularly in the United States, India, and Germany. Acetaminophen, or paracetamol, is a popular painkiller produced from aniline. The most popular generic medicine worldwide is paracetamol. For people of all ages, it is commercially offered in tablet, pill, and syrup formulations.
  • AstraZeneca said total pharmaceutical sales globally were around USD 1.2 trillion until the third quarter of 2022. The United States had the highest share in the market with total sales of around USD 605 billion till the third quarter.
  • The major players involved in the production of nitrobenzene, including BASF SE, Huntsman International LLC, and Covestro AG, are vertically integrated, indicating their domination in the manufacturing process of aniline and MDI.
  • Therefore, the above factors are expected to impact the market in the coming years significantly.
Nitrobenzene Market: Sales-Registrations of New Vehicles of Countries Represented in OICA, In Million Units, Global, 2019-2022

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is the largest market for nitrobenzene in terms of consumption and production and is also expected to have the highest growth during the forecast period in the market studied. Various foreign corporations have relocated their manufacturing facilities in the area due to the region's inadequate infrastructure and labor expenses. Production and consumption of nitrobenzene have also been significantly influenced by major aniline and methylene diphenyl diisocyanate (MDI) manufacturing companies expanding their production capacities.
  • Due to the increased need for various MDI-based products such as adhesives, sealants, elastomers, and polyurethanes, the construction sector is the most important end-user market for nitrobenzene. Moreover, it works as a binding agent for wood and furniture. Due to these uses, the construction industry consumes over 48% of the nitrobenzene produced globally, with a significant portion of this consumption occurring in the Asia-Pacific area.
  • China's construction industry is rapidly increasing. According to the National Bureau of Statistics of China, China's construction output increased by nearly 50% over the previous quarter (USD 27.6 billion) in the fourth quarter of 2022, reaching an anticipated CNY 276 billion (about USD 40 billion).
  • Additionally, the building and construction industry in Japan has grown significantly. Total construction investments in Japan are predicted to exceed 66,990 billion yen (USD 508,16 billion) in 2022, up around 0.6% from the previous year, according to the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT).
  • The Indian construction sector has also been growing at a higher rate owing to the increasing investments and purchasing power of people. The Government of India supports the higher growth of the construction sector through its various schemes, such as the Housing for All program.
  • Nitrobenzene is used in the automotive industry as well. MDI, generated from nitrobenzene via aniline synthesis, makes steering wheels, airbag covers, waterproof floor materials, and other automobile interior components.
  • China is by far the world's largest manufacturer and purchaser of automobiles. According to the Chinese Association of Automobile Manufacturers, China's vehicle output will increase by approximately 3.4% in 2022 over the previous year. Compared to the 26.08 million automobiles produced in 2021, around 27.02 million vehicles were produced in 2022.
  • Therefore, the above factors are expected to impact the market in the coming years significantly.
Nitrobenzene Market - Growth Rate by Region, 2023-2028

Nitrobenzene Industry Overview

The Nitrobenzene Market is partially consolidated in nature. Some major players include (not in any particular order) BASF SE, The Chemours Company, Covestro AG, Huntsman International LLC, and Wanhua.

Nitrobenzene Market Leaders

  1. BASF SE

  2. Covestro AG

  3. Huntsman International LLC

  4. Wanhua

  5. The Chemours Company

*Disclaimer: Major Players sorted in no particular order

Nitrobenzene Market Concentration
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Nitrobenzene Market News

  • July 2022: Researchers at the University of Glasgow announced that they had created a new process of anilines production that works at room temperature and pressure, using protons and electrons created by the electrolysis of water to drive the process of reducing the nitrobenzene to anilines. With the help of the breakthrough process, nitrobenzene reduction is made cleaner, cutting down the likelihood of unwanted side-products being created during electrolysis.
  • June 2022: Sadhana Nitro Chem Ltd announced the commencement of production of its 1st para aminophenol plant. The para aminophenol product is manufactured through a hydrogen-based catalytic reduction of Nitrobenzene, which is later utilized in the manufacturing of paracetamol and other products.

Nitrobenzene Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Aniline

      2. 4.1.2 Easy Availability of Raw Materials

      3. 4.1.3 Growing Construction Activities in the Asia-Pacific Region

    2. 4.2 Restraints

      1. 4.2.1 Growing Demand for Bio-based Chemicals

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Aniline Production

      2. 5.1.2 Dyes and Pigments

      3. 5.1.3 Pesticides

      4. 5.1.4 Intermediate in Pharmaceuticals

      5. 5.1.5 Other Applications (including Solvent, Explosives, etc.)

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Aromsyn Co. Ltd

      2. 6.3.2 Bann Quimica Ltda

      3. 6.3.3 BASF SE

      4. 6.3.4 Covestro AG

      5. 6.3.5 Dow

      6. 6.3.6 Huntsman International LLC

      7. 6.3.7 Sadhana Nitro Chem Ltd

      8. 6.3.8 SP Chemicals Pte Ltd

      9. 6.3.9 Sumitomo Chemical Co. Ltd

      10. 6.3.10 The Chemours Company

      11. 6.3.11 Wanhua

      12. 6.3.12 Wilbur-Ellis Holdings Inc. (Connell)

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Various Investments in Construction Industry

**Subject to Availability
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Nitrobenzene Industry Segmentation

With the chemical formula C6H5NO2, nitrobenzene is a yellowish, greasy, aromatic nitro compound generated by reacting benzene with concentrated nitric acid and concentrated sulfuric acid. Nitrobenzene is used to make aniline, which can then be used to make polyurethanes and methylene diphenyl diisocyanate (MDI). It is mainly used in various end-user industries, including the construction and automotive sectors. Nitrobenzene and aniline are also used to produce paracetamol, a major product of the pharmaceutical industry. 

The Nitrobenzene Market is segmented by application and geography. By application, the market is segmented into aniline production, dyes and pigments, pesticides, intermediates in pharmaceuticals, and other applications. The report also covers the market size and forecasts for the nitrobenzene market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilo tons).

Application
Aniline Production
Dyes and Pigments
Pesticides
Intermediate in Pharmaceuticals
Other Applications (including Solvent, Explosives, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Nitrobenzene Market Research FAQs

The Nitrobenzene Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

BASF SE, Covestro AG, Huntsman International LLC, Wanhua and The Chemours Company are the major companies operating in the Nitrobenzene Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Nitrobenzene Market.

The report covers the Nitrobenzene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nitrobenzene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Nitrobenzene Industry Report

Statistics for the 2024 Nitrobenzene market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Nitrobenzene analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Nitrobenzene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)