Nitrotoluene Market
According to ChemAnalyst report, “Global Nitrotoluene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Nitrotoluene market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 3.04% during the forecast period owing to its applications in Pigments, Photographic Chemicals and Agricultural Chemicals.
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Nitrotoluenes are synthesized by the nitration of toluene using aqueous acidic mixture of nitric acid and sulphuric acid. The three structural isomers of Nitrotoluenes are Ortho Nitrotoluene, Meta Nitrotoluene and Para Nitrotoluene. o-Nitrotoluene and m-Nitrotoluene are yellow liquids whereas p-Nitrotoluene appears as yellow crystals. For o-Nitrotoluene major end uses are agricultural chemical intermediates, dyestuffs, paints, pharmaceuticals, and plastic foams. Dyestuff intermediates, and photographic developer intermediates are the end use for m-Nitrotoluene whereas, p-Nitrotoluene has its applications as intermediate for paints, dyestuffs, and pharmaceuticals. All these applications contribute to surge its demand in the forecast period
Among all structural isomers, the p-Nitrotoluene owns the major share of global demand for Nitrotoluenes. Around 60% demand comes from p-Nitrotoluene. Rise in the use of Nitrotoluenes in the manufacture of dyestuffs which find application in the growing paints and coatings industry is expected to drive the demand of Nitrotoluenes during the forecast period. Moreover, upcoming new technologies such as selective nitration for producing the desired isomer is expected to support further demand rise. However, the increasing demand for green chemicals for dyes and other chemical intermediates is expected to hinder the demand growth during the forecast period. Dyes and Pigments holds the significant share in the market for Nitrotoluene therefore the growth in the textile industry will consequently propels the growth of Nitrotoluene industry in the forecast period.
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In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries including Nitrotoluene associated industries because the manufacturing plants were not operational coupled with the disruption the demand and supply chain during the lockdowns. However overall good demand growth has been observed in China from the manufacturing sector due to continuation of production activities after the lockdowns.
Region wise, Asia Pacific region holds the major share of global demand for Nitrotoluene due to growing commercial and residential construction as well as the rise in pharmaceutical industry in the region. Moreover, the growth in Dyes and Pigments sector has been witnessed in China, India, Thailand, and Taiwan which also expands the market for Nitrotoluene. Expanding production capacities by major Nitrotoluene companies in recent years is also a major driver for Nitrotoluene production and consumption in the region. In 2018 Aarti industries increased its annual Nitrotoluene production capacity by 30 kilotons, making it one of the largest producers of the chemical in India. Increasing population and per capita income in emerging economies is another factor propelling demand growth for Nitrotoluene in Asia
Nitrotoluene market in Latin America specially in Brazil is also expected to grow exponentially during the forecast period owing to the presence of leading chemical manufacturers in the world. Whereas in North America and Europe, Nitrotoluene has been classified as Hazardous and carcinogenic compound which leads to the various strict regulations in its production and utilization in the manufacturing of other products hence, this region is expected to grow at a slow pace in the forecast period.
According to ChemAnalyst report, Global Nitrotoluene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Some of themajor players for Nitrotoluene globally include Aarti Industries Limited, LANXESS, Deepak Nitrite Limited, Panoli Intermediates India Private Limited, EMCO Dyestuff, R K Synthesis Limited, Shree Chemopharma Ankleshwar Pvt. Ltd., Huaian Jiacheng Hi-tech Chemical Industry Co., Ltd., Jiangsu First Chemical Manufacture Co., Ltd., Jiangsu Huaihe Chemicals Co., Ltd. (ChemChina), and others.
“Due to the extensive use of Nitrobenzene and its isomers in the various end use industries such as Agriculture Chemicals, Dyes and Pigments, Photograph developing chemicals, Paints and Coatings, Pharmaceuticals among others, it is expected that market for Nitrotoluene is going to flourish in the forthcoming years. p- Nitrotoluene is used in the production of intermediates for various drugs like folic acid, benzocaine, thioacetazone, para-amino benzoic acid etc. Being linked to the construction, Textile and Pharma industry, the global Nitrotoluene industry has shown a robust growth. China serves as the key growth region as it is major producer of Paints, Chemicals, Textile and Pharmaceuticals followed by India in the APAC region thus these factors expected to drive the market for Nitrotoluene. With new competitors emerging across the Asia Pacific Nitrotoluene market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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