Nitrobenzene Market Size (2024 - 2029)

The nitrobenzene market is projected to experience growth over the forecast period, driven by increasing demand for its derivatives, particularly aniline, and the availability of raw materials. The market's expansion is supported by rising construction activities in the Asia-Pacific region, which is the dominant area in terms of consumption. However, the market faces challenges from the growing preference for bio-based chemicals. Despite the setbacks caused by the COVID-19 pandemic, the market has been recovering and is expected to continue its upward trajectory, with global construction investments presenting further opportunities for growth.

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Market Size of Nitrobenzene Industry

Nitrobenzene Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 4.26 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Nitrobenzene Market Major Players

*Disclaimer: Major Players sorted in no particular order

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.

Nitrobenzene Industry Segmentation

With the chemical formula C6H5NO2, nitrobenzene is a yellowish, greasy, aromatic nitro compound generated by reacting benzene with concentrated nitric acid and concentrated sulfuric acid. Nitrobenzene is used to make aniline, which can then be used to make polyurethanes and methylene diphenyl diisocyanate (MDI). It is mainly used in various end-user industries, including the construction and automotive sectors. Nitrobenzene and aniline are also used to produce paracetamol, a major product of the pharmaceutical industry.

The Nitrobenzene Market is segmented by application and geography. By application, the market is segmented into aniline production, dyes and pigments, pesticides, intermediates in pharmaceuticals, and other applications (including solvent, explosives, etc). The report also covers the market size and forecasts for the nitrobenzene market in 27 countries across major regions. 

For each segment, the market sizing and forecasts have been done based on volume (tons).

Application
Aniline Production
Dyes and Pigments
Pesticides
Intermediate in Pharmaceuticals
Other Applications (including Solvent, Explosives, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
NORDIC
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
United Arab Emirates
Rest of Middle East and Africa
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Nitrobenzene Market Size Summary

The nitrobenzene market is poised for growth over the forecast period, driven by increasing demand for aniline production, which constitutes the majority of nitrobenzene applications. The market experienced a downturn due to the COVID-19 pandemic, but has since rebounded, with the pharmaceutical sector, particularly the production of paracetamol, playing a significant role in this recovery. The Asia-Pacific region, led by countries like China and India, dominates the market in terms of consumption and production, supported by robust construction activities and the expansion of aniline and methylene diphenyl diisocyanate (MDI) manufacturing capacities. These factors, coupled with the region's strategic investments in infrastructure, are expected to sustain the market's growth trajectory.

Despite the positive outlook, the market faces challenges from the rising demand for bio-based chemicals, which could impede growth. However, opportunities abound in the global construction industry, with significant investments in countries like China and India further bolstering demand for nitrobenzene derivatives. The construction sector remains the largest end-user, consuming a substantial portion of global nitrobenzene production, particularly in the form of adhesives, sealants, and polyurethanes. The market is partially consolidated, with key players such as Covestro AG, Huntsman International LLC, and China Petrochemical Corporation (Sinopec) actively participating in the market dynamics. Recent developments, including new production facilities and innovative manufacturing processes, are expected to enhance the market's competitive landscape.

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Nitrobenzene Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Aniline

      2. 1.1.2 Easy Availability of Raw Materials

      3. 1.1.3 Growing Construction Activities in the Asia-Pacific Region

    2. 1.2 Restraints

      1. 1.2.1 Growing Demand for Bio-based Chemicals

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Regulatory Policy Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Aniline Production

      2. 2.1.2 Dyes and Pigments

      3. 2.1.3 Pesticides

      4. 2.1.4 Intermediate in Pharmaceuticals

      5. 2.1.5 Other Applications (including Solvent, Explosives, etc.)

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Malaysia

        6. 2.2.1.6 Thailand

        7. 2.2.1.7 Indonesia

        8. 2.2.1.8 Vietnam

        9. 2.2.1.9 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 Italy

        4. 2.2.3.4 France

        5. 2.2.3.5 Spain

        6. 2.2.3.6 NORDIC

        7. 2.2.3.7 Turkey

        8. 2.2.3.8 Russia

        9. 2.2.3.9 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Colombia

        4. 2.2.4.4 Rest of South America

      5. 2.2.5 Middle East and Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Nigeria

        4. 2.2.5.4 Qatar

        5. 2.2.5.5 Egypt

        6. 2.2.5.6 United Arab Emirates

        7. 2.2.5.7 Rest of Middle East and Africa

Nitrobenzene Market Size FAQs

The Nitrobenzene Market size is expected to reach 12.13 million tons in 2024 and grow at a CAGR of 4.26% to reach 14.94 million tons by 2029.

In 2024, the Nitrobenzene Market size is expected to reach 12.13 million tons.

Nitrobenzene Market Report Snapshots

Nitrobenzene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)