Mono Methyl Aniline Market is Growing at A Remarkable Pace of 1.1% by 2028
The Global Mono Methyl Aniline Market was valued at USD 2.5 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 1.1% between 2021 to 2028.
Mono methyl aniline is a colourless to brown viscous liquid that is generally denser than water and is insoluble in water. Aniline is the raw material used for the synthesis of mono methyl aniline. The mono methyl aniline is widely used as an intermediate in chemical and agricultural applications. Over the years the chemical has also been extensively used in optical brighteners, pigments, and dyestuff industry.
The market of the mono methyl aniline id driven by the increasing use of the chemical in the dyestuff industry with major application in field of agriculture and as an intermediate in chemical industry. The market has seen fierce fluctuations over the years owing to the high cost associated with the manufacturing of aniline.
Moreover, due to the COVID-19 pandemic strict regulations regarding the lockdowns and quarantines were taken to mitigate the infection caused by the deadly virus. The manufacturing and production operations were at a halt, and this resulted into the decline of the global monomethyl aniline market.
Furthermore, the extensive and prominent use of the mono methyl aniline as a coupling solvent and as an intermediate for organic products manufacturing and dyes is owing to give an opportunity to the market. Whereas the adverse effect caused by the chemical such as damage to the central nervous system and liver and kidney failure is a restrain for the market growth.
Globally, the European and Asia-Pacific region are expected to show highest growth rate owing to the extensive application of the mono methyl aniline in the dyestuffs, optical brighteners, and pigments industry. Moreover, they also are major production area of oils.
Major key players in the global mono methyl aniline market are Jinan Boss Chemical Industry Co. Ltd., Aarti Industries Ltd, Dongying City Longxing Chemical Co. Ltd. and ChemFine International Co. Ltd.