COVID-19 Impact on Mononitrobenzene Market
- The COVID-19 outbreak is hampering the demand for mononitrobenzene in many applications. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for mononitrobenzene.
- Key players operating in the mononitrobenzene market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of mononitrobenzene.
- The COVID-19 outbreak has directly affected the production and demand for mononitrobenzene. The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Mononitrobenzene Market
- Rise in demand for aniline products is the key driver of the mononitrobenzene market. More than 95% of mononitrobenzene is used in aniline production. It is used in various end-use industries such as automobile, pharmaceutical, agriculture, and plastics.
- Mononitrobenzene is used in the manufacture of products such as aniline, plastics, dyes, fibers, pigments, herbicides, and polyurethanes foams
Restraints of Mononitrobenzene Market
- Large amount of mononitrobenzene is used in the production of aniline. However, another process, phenol ammonolysis, is also adopted for the production of aniline. This derivate can be seen as the key restraint of the mononitrobenzene market.
- Mononitrobenzene has the capacity of volatilization from water bodies into the air, which may significantly contribute to air pollution. This is likely to hamper the mononitrobenzene market.
Asia Pacific to Constitute Significant Share of Global Mononitrobenzene Market
- In terms of region, the global mononitrobenzene market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global market in 2020. Asia Pacific is the largest market for mononitrobenzene due to substantial investments in mononitrobenzene market in China, Japan, and India. Asia Pacific is expected to account for the leading share of the mononitrobenzene market during the forecast period owing to growth in urbanization and rise in spending power of countries in the region. The mononitrobenzene market in the region is expected to expand at a rapid pace throughout the forecast period.
- Europe is also one of the key consumers of mononitrobenzene. The region is expected to account for significant growth in the mononitrobenzene market, owing to the increase in the number of manufacturers in the region.
Competitive Landscape of Global Mononitrobenzene Market
Major players operating in the global mononitrobenzene are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- BASF SE
- Nanjing Chemical Industries
- SP Chemicals
- Bann Química Ltd.
- Connell Chemical Industry
- HOFUNG Technology
- Huchems Fine Chemical
- Covestro
Global Mononitrobenzene Market
Global Mononitrobenzene Market, by End-use
- Chemical
- Pharmaceutical
- Automotive
- Agriculture
- Others
Global Mononitrobenzene Market, by Application
- Aniline
- Plastics
- Dyes
- Fibers
- Pigments
- Herbicides
- Polyurethanes Foam
- Others
Global Mononitrobenzene, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Mononitrobenzene Market: Introduction
- Mononitrobenzene or nitrobenzene nitrobenzol is an oily yellow liquid with an almond-like odor. It is used commercially in various end-use industries. Nitrobenzene is prepared by the nitration of benzene.
- Mononitrobenzene is used in the manufacture of chemicals, pharmaceuticals, and automotive products such as aniline, plastics, dyes, fiber, and foam.
