Wilmington, Delaware, United States, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Massive utilization of aniline derivatives in diverse range of industrial applications has generated substantial revenue streams to the chemical producers. An in-depth assessment of the market dynamics underscores that a rapidly expanding plastics & inks industry has spurred the sales in aniline derivatives market. The study also found that aniline has gained popularity as a precursor to the manufacture of agrochemicals, rubber, and paints & dyes.
Of note, colossal use in the manufacture of dyes and pigments has led them to become fastest growing market for aniline derivatives. The segment will be fuelled by the sizable utilization of paints in multiple industries Overall, the authors have projected the aniline derivatives market to reach a value of US$ 11 Bn by 2031.
The TMR study found that N-Methyl Aniline (NMA) and N-Dimethyl Aniline (DMA) have been widely used in numerous applications in aniline derivatives market. Indeed, the N-Methyl Aniline (NMA) segment held a major market share in 2020, and is forecast to retain its lead until the end of the forecast period. NMA has been popularly used in the manufacture of dyes, paints, and agrochemicals of enormous commercial importance.
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Key Findings of Aniline Derivatives Market Study
- Demand in in Paints & Inks Industry Presents Tremendous Opportunities: Steadily rising average demand for paints and coatings to be used in various industrial and commercial applications, especially in developing economies, is a key driver of the aniline derivatives market. Of note, growing volumes of industrial paints has spurred the use of aniline derivatives, as recent developments in aniline derivatives market highlight.
- Widespread Utilization of Polyurethane in Plastics Industry to Propel Revenue Growth: The study authors observe that polyurethanes are widely used in the manufacture of plastics particularly medical plastics. Rise in demand for high-performance medical plastics from medtech companies and manufacturers of medical devices such as tubes, catheters, and masks has propelled massive lucrative avenues in the aniline derivatives market. They seek compounds that can make medical plastics resistant to chemicals, are light weight, allow dimensional freedom, and remarkable sterilization resistance, which will open future market demand for aniline derivatives.
- Use of Aniline Derivatives in Diverse Applications Underpins Massive Lucrative Avenues: Aniline derivatives are utilized in wide spectrum of applications including in chemical industry. Of note, the authors found that the demand from the agriculture industry in developed and developing countries has fueled growth prospects.
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Aniline Derivatives Market: Key Drivers
- Strides being made by the building & construction sector, especially from rising number of housing construction activities, in various regions have fueled the growth frontier in the aniline derivatives market.
- Continuously expanding agriculture industry has catalyzed the commercialization of aniline derivatives, thus boosting the market.
Aniline Derivatives Market: Regional Growth Dynamics
Rapid pace of industrialization and growing per capita income of people in Asian nations has made Asia Pacific aniline derivatives market replete with opportunities. Of note, the analysts observed that India, China, Japan, and Singapore have witnessed enormous consumption of products, thereby propelling the revenue streams.
Aniline Derivatives Market: Key Players
Most leading players in aniline derivatives market are leaning on both organic and inorganic strategies to gain shares and bolster their competitive edge over others. Some of the key players are Black Rose Industries Ltd., Valiant Organics Limited, Indus Chemicals, Honshu Chemical Industry Co., Ltd., Karoon Petrochemical Company, Karoon Petrochemical Company, Kutch Chemicals Ltd., Aarti Industries Ltd., Iwaki Seiyaku Co.,Ltd., and Azelis.
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Aniline Derivatives Market Segmentation
Derivative
- N-Methyl Aniline (NMA)
- N,N-Dimethyl Aniline (DMA)
- N-Ethyl Aniline (NEA)
- N,N-Diethyl Aniline (DEA)
Application
- Drug Production
- Polyurethane
- Agrochemicals
- Dyes & Pigments
- Rubber Processing
- Varnishes
- Explosives
- Others (Amino Resins and Photographic Chemicals)
End Use
- Pharmaceutical
- Plastic
- Agriculture
- Textile
- Rubber
- Paints & Inks
- Others (Photography and Electronics)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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