Transparency Market Research has come with a brand new market intelligence report titled “Nitrobenzene Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” and it makes an exploration and study of the international vendor landscape of the nitrobenzene market. Taking cue and assistance from an elaborate market insight, this study of nitrobenzene makes an offering of an all-inclusive evaluation of the market for nitrobenzene. The research further gauges the ongoing scenario of the said market.
Nitrobenzene refers to an aromatic compound that is extensively utilized in the production of aniline and in the manufacturing of various derivatives in the field of cosmetics, agriculture, and various other different types of industrial applications where nitrobenzene plays the role of a precursor. As a chemical, nitrobenzene is also used in the process of manufacturing lubrication oil, pesticides, and synthetic rubber.
The said market is expanding day by day owing to its end-user industry and core applications. Sound development in the agricultural industry and the developing economies are few of the core drivers for the world market for nitrobenzene. The chemical has been regarded as a core compound in the manufacturing of polyurethane foam and it is used in the construction industries. By making use of the products that are present in the market, the consumers aid in the growth of the market. The nitrobenzene market has been boosted by a number of factors like the rising demand for rubber in the industry of automotive, the expansion of the construction industry across many different core regions, the soaring demand for fertilizers in the industry of agriculture, and urbanization in developing countries. The said market is further fuelled by the continuous demand for nitrobenzene which can replace bio-based chemicals like volatile organic compounds and assist in diminishing its emission. Growing development in pesticide, pharmaceuticals, chemical, and dyes industries are responsible for the immense market growth in the years to come.
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Taking regional segments into consideration, the world market for nitrobenzene can be divided into the geographies of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific held a very large market share in the year 2015 and it is anticipated to remain so over the period of forecast. Fast pace of urbanization in many of the developing countries such as Bangladesh, India, and China and is a main driver for the market for nitrobenzene in this region..
The major market participants that are operating in the world market for nitrobenzene are Yantai Wanhua Polyurethane Co. Ltd., Aromsyn Co., Ltd., Finetech Industry Limited, BASF SE, and Bann Quimica Ltd. Some other key market vendors in the said market are The Dow Chemical Company, Huntsman Corporation, China National Petroleum Corporation, Total S.A., Shandong Jinling Chemical Co., and The Chemours Company amongst many others.