Global Nitrobenzene Market- Snapshot

Nitrobenzene is an aromatic compound which is vastly used in the production of aniline and in the manufacturing of numerous derivatives in the agriculture, cosmetics, and other different types of industrial applications where nitrobenzene acts as a precursor. As a chemical, nitrobenzene is also employed in the process of manufacturing synthetic rubber, pesticides, and lubrication oil. The market is expanding day by day due to its core applications and end-user industry. Robust development in the agricultural industry and the developing economies are few of the core drivers  for the nitrobenzene market growth. The chemical has been considered as a core compound in the manufacturing of polyurethane foam which is used in the construction industries. By using the products present in the market, the consumers aid in the market growth.

The nitrobenzene market has been influenced by a number of factors such as the increasing demand for rubber in the automotive industry, the expansion of the construction industry across many core regions, the rising demand for fertilizers in the agricultural industry, and urbanization in developing countries. The market is further driven by the constant demand for nitrobenzene which can replace bio-based chemicals such as volatile organic compounds and help in decreasing its emission. Increasing development in pharmaceuticals, dyes, chemical, and pesticide industries are responsible for the enormous market growth in the near future. A few factors might be responsible for obstructing the market growth such as strict environment regulations and the increasing demand for bio-based chemicals. North America, Asia Pacific, Europe, MEA and Latin America are taking steps for expanding the market size and these regions have been considered as the core regions for the manufacturing of nitrobenzene where continuous uplifting of the market has also been noticed.

Nitrobenzene is a kind of organic compound which is used in the manufacturing of aniline and acts as a predecessor for the production of chemicals and numerous derivatives in cosmetics, agriculture, pharmaceuticals, and other types of industrial applications. It is also used as a chemical to manufacture pesticides, synthetic rubber, and lubrication oil. Rising demand for rubber in the automotive industry is likely to fuel the growth of the nitrobenzene market over the forecast period. Expansion of the construction industry is one of the key factors likely to drive the nitrobenzene market over the forecast period. Rapid urbanization in developing economies such as China and India among others has led to the growth of the construction industry, which has been one of the dominant factors driving the nitrobenzene market. Growth of the agriculture industry coupled with the mounting demand for fertilizers is driving the nitrobenzene market globally. Rise in the demand for bio-based chemicals and strict environment regulations are restraining the nitrobenzene market from expansion. Availability of cheap labor and low cost of raw materials in China is expected to drive the nitrobenzene market in this region.

The nitrobenzene market has been segmented on the basis of application and end-user. On the basis of application, the nitrobenzene market is segregated into pesticides, lubricating oil, aniline production, and synthetic rubber. Aniline production was the most dominant segment in 2015 and it is expected to remain so over the forecast period. On the basis of end-user, the market is segregated into pharmaceuticals, agriculture, and industrial applications. Agriculture registered the most dominant share in the nitrobenzene market in 2015 and is likely to retain its position over the years to come.

Geographically, the nitrobenzene market is segmented by North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia-Pacific accounted for the largest market share in 2015 and it is expected to remain so over the forecast period. Rapid pace of urbanization in developing countries such as China, India, and Bangladesh is a key driver of the nitrobenzene market in this region. Growth of agricultural industry in this region has fuelled the growth of the nitrobenzene market. North America accounts for a considerable share in the nitrobenzene market. Growth of the pharmaceutical industry is driving the market for nitrobenzene in this region. The European Commission has proposed reduction in the level of volatile organic compounds (VOC) emissions which has resulted in the demand for bio-based chemicals which is likely to enhance the growth of the nitrobenzene market growth. Asia Pacific has an increasing demand for nitrobenzene owing to developments in agriculture. China accounts for majority share of the nitrobenzene market in Asia Pacific. Growth in the construction industry and rapid pace of urbanization is one of the major drivers for the nitrobenzene market in Asia Pacific. Increasing development in the dyes, pharmaceuticals, pesticides, and chemical industry among others in the developing nations has been one of the key drivers for the nitrobenzene market. Middle East & Africa has an emerging nitrobenzene market owing to increase in the demand for bio based chemicals and strict environmental regulations. Latin America occupies a considerable share in the nitrobenzene market. Brazil is one of the large markets for nitrobenzene in this region.

The major players in the nitrobenzene market are BASF SE, Aromsyn Co., Ltd., Bann Quimica Ltda. and Finetech Industry Limited. Some of the other key vendors in the market are China National Petroleum Corporation, Huntsman Corporation, Shandong Jinling Chemical Co., The Chemours Company, Total S.A., The Dow Chemical Company, and Yantai Wanhua Polyurethane Co. Ltd. among others. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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