Nitrobenzene Market (Updated Version Available)
Nitrobenzene Market Size, Share & Trends Analysis, By Application (Flavoring, Perfume Additive, Aniline, Rubber Chemicals, Pesticides, Dyes, Shoe & Floor Polishes, Cosmetics, Leather Dressings, Paint Solvents, and Others), End Use Industry (Construction, Pharmaceutical, Automotive, Leather, Agriculture, Food & Beverages, and Others), By Region, Forecast Period 2023 - 2030.
Report ID : RI_673869 | Date : April 2023 |
Format : 
Key Market Overview:
Nitrobenzene Market size was valued at USD 10.95 Billion in 2022, registering a CAGR of 5.8% during the forecast period (2023-2030), and the market is projected to be worth USD 18.19 Billion by 2030.
Nitrobenzene is a yellow, oily, aromatic nitro compound with an almond-like odor with the chemical formula C6H5NO2. They are industrial chemicals and are slightly soluble in water. In addition, nitrobenzene is used as a mild oxidizing agent in the synthesis of quinoline and fuchsin which are highly used in the manufacture of dyes.
Moreover, nitrobenzene is widely used in the production of aniline and is also used to manufacture lubricating oils used for motors and machinery. They are also used in pharmaceuticals for the production of various drugs and in agriculture as a key ingredient in pesticides. Further, nitrobenzene is quickly absorbed into the plants, thereby, influencing the biochemical pathway of the plants to uptake more nutrients from the soil. Thus, the use of nitrobenzene increases nutrient efficiency and induces profuse flowering in plants.
Nitrobenzene Market Report Coverage:
Request Sample
Market Dynamics:
Driver:
The increasing demand for aniline in various end-use industries including rubber and automotive is driving the need for nitrobenzene. Aniline is used for the processing of rubber chemicals and products such as car tyres, balloons, and gloves, and nitrobenzene is primarily used in the production of aniline. For instance, as per the report published by Statista, the global automotive manufacturing market amounted to USD 2.86 trillion in 2021 and increase to USD 2.95 trillion in 2022. Hence, the increasing automotive industry is fueling the demand for nitrobenzene.
Restraints:
Repeated exposures to a high level of nitrobenzene are likely to cause a blood problem known as methemoglobinemia that affects the ability of the blood to carry oxygen. Further, direct contact with nitrobenzene alters the skin color and is likely to cause vomiting, fatigue, dizziness, and breathing problems. As a result, the government implied various regulations on the use of nitrobenzene due to the above-mentioned health hazards. For instance, the United States Environmental Protection Agency (EPA) listed nitrobenzene as harmful or toxic to human health and the environment. As a result, the aforementioned factors are likely to hinder the market growth.
Opportunities:
The increasing concerns about the environmental impact of chemical production processes have led to the growing demand for eco-friendly manufacturing processes in the chemical industry. For instance, according to the article published in the American Chemical Society, an environmentally friendly approach was established for the reduction of nitrobenzene into aniline using carbonaceous bio-based materials under subcritical water conditions. In addition, as per the article published by ResearchGate, vegetable oil-based nitrobenzene is manufactured using soybean oil, carrying 35% EC formulation. As a result, the above-mentioned sustainable approaches are expected to accelerate market growth over the forecast period.
Market Segmentation:
By Grade Type
The application segment is divided into flavoring, perfume additives, aniline, rubber chemicals, pesticides, dyes, shoe & floor polishes, cosmetics, leather dressings, paint solvents, and others. In 2022, the aniline segment accounted for the highest market share in the nitrobenzene market. Nitrobenzene is widely used in the production of aniline that is used to manufacture a wide range of products including polyurethanes, rubber processing chemicals, pesticides, fibers, dyes and pigments, photographic chemicals, and pharmaceuticals. Thus, the aforementioned factors are driving the growth of the segment.
However, the pesticide segment is expected to grow at the fastest CAGR over the forecast period as nitrobenzene is used as a key raw material used for the production of various pesticides including herbicides and fungicides. For instance, as per the report published by Statista, in 2020, North America represented more than half of the agricultural pesticide consumption worldwide followed by Asia and Europe with 24.7% and 17.6% shares respectively. Hence, the growing demand for pesticides for higher agricultural productivity is driving the demand for nitrobenzene.
By End Use Industry
The end-use industry is segmented into construction, pharmaceutical, automotive, leather, agriculture, food & beverages, and others. In 2022, the pharmaceutical segment accounted for the highest market share. Nitrobenzene is widely used in the production of a wide range of pharmaceuticals such as analgesics paracetamol, antipyretics, and anti-inflammatory drugs due to properties such as free radicals, inflammation, and epigenetic changes. For instance, according to the report published by Statista, in 2022, the total global pharmaceutical market amounted to USD 1.48 trillion, a slight increase from the previous year. Thus, the increasing growth of the pharmaceutical industry is driving the demand for nitrobenzene, in turn, boosting segment growth.
However, the agriculture segment is expected to grow at the fastest CAGR over the forecast period as nitrobenzene. In the agriculture industry, pesticides are used to control weeds, insect infestation, and diseases. Additionally, the growing demand for food results in higher crop protection, and further pesticides, herbicides, and fungicides are widely used to protect crops and ensure higher yields. Thus, the aforementioned factors are expected to drive the growth of the segment.
By Region
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, the Asia-Pacific accounted for the largest market share in the nitrobenzene market due to the increasing construction activities in the region particularly in China and India. The construction industry is the most dominant end-user for nitrobenzene due to the rising demand for various MDI-based products such as elastomers, adhesives and sealants, and polyurethanes. For instance, in 2022, as per the report published by Statista, the construction output value in China achieved its peak at around 31.2 trillion yuan. Hence, the increasing number of construction projects is driving the need for nitrobenzene to manufacture MDI-based products which are widely required in construction activities.
However, North America is expected to grow at the fastest CAGR period over the forecast period due to the high demand for nitrobenzene from the automotive industry particularly in the U.S. In the automotive industry, nitrobenzene is used for manufacturing MDI-based products which are used in different parts of the vehicle including windows, rear glass panes, and fronts, in turn, expected to boost product demand.
Nitrobenzene Market Competitive Landscape:
The nitrobenzene market is highly competitive comprising numerous players operating in the industry. These players are constantly engaged in product development, innovation, and strategic partnerships and collaborations to expand their market presence. In addition, companies in nitrobenzene are also focused on expanding their market presence through mergers and acquisitions, joint ventures, and strategic partnerships. This allows them to increase their market share and gain a competitive edge in the market. The following are the major key players operating in the nitrobenzene market:
• Bann Quimica Ltda
• Aromsyn Co., Ltd.
• Dow Inc.
• Merck KGaA
• Alfa Aesar (Thermo Fisher Scientific)
• TCI Chemicals Pvt. Ltd.
• Sumitomo Chemical Co., Ltd.
• Panoli Intermediates India Private Limited
• LobaChemie Pvt. Ltd.
• Sadhana Nitro Chem Ltd.
Recent Developments:
• In August 2022, Merck signed a definitive agreement to acquire the chemical business of Mecaro Co. Ltd. (Mecaro), a Korea-based and publicly listed manufacturer of heater blocks and chemical precursors for semiconductors.
• In May 2021, Sadhana Nitro Chem commenced production of first para aminophenol plant (PAP). The company through its unique and proprietary process will be manufacturing PAP from Nitrobenzene (NB).
Nitrobenzene Market size was valued at USD 10.95 Billion in 2022, registering a CAGR of 5.8% during the forecast period (2023-2030), and the market is projected to be worth USD 18.19 Billion by 2030.
Nitrobenzene is a yellow, oily, aromatic nitro compound with an almond-like odor with the chemical formula C6H5NO2. They are industrial chemicals and are slightly soluble in water. In addition, nitrobenzene is used as a mild oxidizing agent in the synthesis of quinoline and fuchsin which are highly used in the manufacture of dyes.
Moreover, nitrobenzene is widely used in the production of aniline and is also used to manufacture lubricating oils used for motors and machinery. They are also used in pharmaceuticals for the production of various drugs and in agriculture as a key ingredient in pesticides. Further, nitrobenzene is quickly absorbed into the plants, thereby, influencing the biochemical pathway of the plants to uptake more nutrients from the soil. Thus, the use of nitrobenzene increases nutrient efficiency and induces profuse flowering in plants.
Nitrobenzene Market Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | _x001f_18.19 billion |
| CAGR (2023-2030) | 5.8 % |
| Base Year | 2022 |
| By Application | Flavoring, Perfume Additives, Aniline, Rubber Chemicals, Pesticides, Dyes, Shoe & Floor Polishes, Cosmetics, Leather Dressings, Paint Solvents, and Others |
| By End Use Industry | Construction, Pharmaceutical, Automotive, Leather, Agriculture, Food & Beverages, and Others |
| By Geography | |
| Key Players | Bann Quimica Ltda, Aromsyn Co., Ltd, Dow Inc., Merck KGaA, Alfa Aesar (Thermo Fisher Scientific), TCI Chemicals Pvt. Ltd., Sumitomo Chemical Co., Ltd., Panoli Intermediates India Private Limited, LobaChemie Pvt. Ltd., and Sadhana Nitro Chem Ltd. |
Market Dynamics:
Driver:
The increasing demand for aniline in various end-use industries including rubber and automotive is driving the need for nitrobenzene. Aniline is used for the processing of rubber chemicals and products such as car tyres, balloons, and gloves, and nitrobenzene is primarily used in the production of aniline. For instance, as per the report published by Statista, the global automotive manufacturing market amounted to USD 2.86 trillion in 2021 and increase to USD 2.95 trillion in 2022. Hence, the increasing automotive industry is fueling the demand for nitrobenzene.
Restraints:
Repeated exposures to a high level of nitrobenzene are likely to cause a blood problem known as methemoglobinemia that affects the ability of the blood to carry oxygen. Further, direct contact with nitrobenzene alters the skin color and is likely to cause vomiting, fatigue, dizziness, and breathing problems. As a result, the government implied various regulations on the use of nitrobenzene due to the above-mentioned health hazards. For instance, the United States Environmental Protection Agency (EPA) listed nitrobenzene as harmful or toxic to human health and the environment. As a result, the aforementioned factors are likely to hinder the market growth.
Opportunities:
The increasing concerns about the environmental impact of chemical production processes have led to the growing demand for eco-friendly manufacturing processes in the chemical industry. For instance, according to the article published in the American Chemical Society, an environmentally friendly approach was established for the reduction of nitrobenzene into aniline using carbonaceous bio-based materials under subcritical water conditions. In addition, as per the article published by ResearchGate, vegetable oil-based nitrobenzene is manufactured using soybean oil, carrying 35% EC formulation. As a result, the above-mentioned sustainable approaches are expected to accelerate market growth over the forecast period.
Market Segmentation:
By Grade Type
The application segment is divided into flavoring, perfume additives, aniline, rubber chemicals, pesticides, dyes, shoe & floor polishes, cosmetics, leather dressings, paint solvents, and others. In 2022, the aniline segment accounted for the highest market share in the nitrobenzene market. Nitrobenzene is widely used in the production of aniline that is used to manufacture a wide range of products including polyurethanes, rubber processing chemicals, pesticides, fibers, dyes and pigments, photographic chemicals, and pharmaceuticals. Thus, the aforementioned factors are driving the growth of the segment.
However, the pesticide segment is expected to grow at the fastest CAGR over the forecast period as nitrobenzene is used as a key raw material used for the production of various pesticides including herbicides and fungicides. For instance, as per the report published by Statista, in 2020, North America represented more than half of the agricultural pesticide consumption worldwide followed by Asia and Europe with 24.7% and 17.6% shares respectively. Hence, the growing demand for pesticides for higher agricultural productivity is driving the demand for nitrobenzene.
By End Use Industry
The end-use industry is segmented into construction, pharmaceutical, automotive, leather, agriculture, food & beverages, and others. In 2022, the pharmaceutical segment accounted for the highest market share. Nitrobenzene is widely used in the production of a wide range of pharmaceuticals such as analgesics paracetamol, antipyretics, and anti-inflammatory drugs due to properties such as free radicals, inflammation, and epigenetic changes. For instance, according to the report published by Statista, in 2022, the total global pharmaceutical market amounted to USD 1.48 trillion, a slight increase from the previous year. Thus, the increasing growth of the pharmaceutical industry is driving the demand for nitrobenzene, in turn, boosting segment growth.
However, the agriculture segment is expected to grow at the fastest CAGR over the forecast period as nitrobenzene. In the agriculture industry, pesticides are used to control weeds, insect infestation, and diseases. Additionally, the growing demand for food results in higher crop protection, and further pesticides, herbicides, and fungicides are widely used to protect crops and ensure higher yields. Thus, the aforementioned factors are expected to drive the growth of the segment.
By Region
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, the Asia-Pacific accounted for the largest market share in the nitrobenzene market due to the increasing construction activities in the region particularly in China and India. The construction industry is the most dominant end-user for nitrobenzene due to the rising demand for various MDI-based products such as elastomers, adhesives and sealants, and polyurethanes. For instance, in 2022, as per the report published by Statista, the construction output value in China achieved its peak at around 31.2 trillion yuan. Hence, the increasing number of construction projects is driving the need for nitrobenzene to manufacture MDI-based products which are widely required in construction activities.
However, North America is expected to grow at the fastest CAGR period over the forecast period due to the high demand for nitrobenzene from the automotive industry particularly in the U.S. In the automotive industry, nitrobenzene is used for manufacturing MDI-based products which are used in different parts of the vehicle including windows, rear glass panes, and fronts, in turn, expected to boost product demand.
Nitrobenzene Market Competitive Landscape:
The nitrobenzene market is highly competitive comprising numerous players operating in the industry. These players are constantly engaged in product development, innovation, and strategic partnerships and collaborations to expand their market presence. In addition, companies in nitrobenzene are also focused on expanding their market presence through mergers and acquisitions, joint ventures, and strategic partnerships. This allows them to increase their market share and gain a competitive edge in the market. The following are the major key players operating in the nitrobenzene market:
• Bann Quimica Ltda
• Aromsyn Co., Ltd.
• Dow Inc.
• Merck KGaA
• Alfa Aesar (Thermo Fisher Scientific)
• TCI Chemicals Pvt. Ltd.
• Sumitomo Chemical Co., Ltd.
• Panoli Intermediates India Private Limited
• LobaChemie Pvt. Ltd.
• Sadhana Nitro Chem Ltd.
Recent Developments:
• In August 2022, Merck signed a definitive agreement to acquire the chemical business of Mecaro Co. Ltd. (Mecaro), a Korea-based and publicly listed manufacturer of heater blocks and chemical precursors for semiconductors.
• In May 2021, Sadhana Nitro Chem commenced production of first para aminophenol plant (PAP). The company through its unique and proprietary process will be manufacturing PAP from Nitrobenzene (NB).
| Single user | : $3860 |
|---|---|
| Multi user | : $5460 |
| Corporate user | : $7460 |
Buy Now
Secure SSL Encrypted
Why Choose Us
Guaranteed Success
We gather and analyze industry information to generate reports enriched with market data and consumer research that leads you to success.
Gain Instant Access
Without further ado, choose us and get instant access to crucial information to help you make the right decisions.
Best Estimation
We provide accurate research data with comparatively best prices in the market.
Discover Opportunities
With our solutions, you can discover the opportunities and challenges that will come your way in your market domain.
Best Service Assured
Buy reports from our executives that best suits your need and helps you stay ahead of the competition.
Customer Testimonials
Reports Insights have understood our exact need and Delivered a solution for our requirements. Our experience with them has been fantastic.
MITSUI KINZOKU, Project Manager
I am completely satisfied with the information given in the report. Report Insights is a value driven company just like us.
Privacy requested, Managing Director
Report of Reports Insight has given us the ability to compete with our competitors, every dollar we spend with Reports Insights is worth every penny Reports Insights have given us a robust solution.
Privacy requested, Development Manager
❮
❯
| Single user | : $3860 |
|---|---|
| Multi user | : $5460 |
| Corporate user | : $7460 |
Buy Now
Secure SSL Encrypted