Market Size of Nitrobenzene Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 12.13 Million tons |
| Market Volume (2029) | 14.94 Million tons |
| CAGR (2024 - 2029) | 4.26 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nitrobenzene Market Analysis
The Nitrobenzene Market size is estimated at 12.13 Million tons in 2024, and is expected to reach 14.94 Million tons by 2029, growing at a CAGR of 4.26% during the forecast period (2024-2029).
The nitrobenzene 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, factors such as the increasing demand for nitrobenzene to produce aniline, the easy availability of raw materials used for production, and the growing construction activities in the Asia-Pacific region, which are contributing to significant demand, 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 from countries such as China, India, etc.
