Albany, NY, May 12, 2015 (GLOBE NEWSWIRE) -- According to a featured report from Transparency Market Research (TMR), the global aniline market will expand at a CAGR of 7.0% during the forecast period of 2014 to 2020. The report is titled " Aniline Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 ".The global aniline market was worth US$9.75 billion in 2013. According to TMR, the global market for aniline will reach a total market value of US$15.66 billion by 2020. In terms of volume, the global demand for aniline was noted at 5,470 kilo tons in the year 2013.
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"Consumer Goods Sector in Global Aniline Market to shine as Fastest growing End User"
Increasing demand for MDI (Methylene diphenyl diisocyanate) will drive the global aniline market significantly. MDI is used as an intermediate to manufacture coatings, elastomers, sealants, and adhesives in the polyurethane industry. Furthermore, the rising consumption of aniline in OEM sector and construction industry will boost the market growth. The growing number of its end-use industries will also drive the global aniline market. However, stringent government policies concerning effects on human health and environment will plague the market growth during the forecast period. Nevertheless, the rapid development of sectors such as logistics, infrastructure, and disposable goods along with the growing demand for metal corrosion inhibitors in the microelectronics industry will fuel the growth of the global aniline market. Moreover, accelerating investments by major companies in R&D projects along with increasing M&A activities are anticipated to augment the global aniline market in the foreseeable future. Established companies in the global aniline market include Tosoh Corp., BASF SE, The Dow Chemical Company, Wanhua Chemical Group Co. Ltd., and Huntsman Corporation.
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Application-wise, the global aniline market is segmented into MDI and others such as dyes and pigments and rubber processing chemicals. The MDI sector currently holds the bulk of demand from the global aniline market. In 2013, this sector contributed a massive share of 75% to the global aniline market. Even though MDI presently holds the largest market share, the others application segment, which includes sub-sectors such as rubber processing chemicals and dyes and pigments, will demonstrate the fastest growth during the period of 2014-2020.
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The global aniline market is divided according to end-use into insulation, consumer goods, packaging, automotive, rubber products, pulp and paper, agriculture, and photography. The leading end-use sector of insulation held a total market share of 45% in 2013 in the global aniline market. Alternatively, the consumer goods sector is forecast to display the highest CAGR of 5% during the forecast period, in terms of volume. The consumer goods end-use segment in the aniline market is further divided into fibers, footwear, furnishing, adhesives, and textiles.
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According to geography, the global market for aniline is classified into RoW (Rest of the World), Asia-Pacific, North America, and Europe. Presently, Asia Pacific is the leading regional market for aniline and is projected to show the fastest growth in the forthcoming years. Asia Pacific benefits from the presence of large number of aniline plants in China.
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