LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Aniline Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of aniline and acts as an all-inclusive guide for making smart purchasing decisions.
“The global demand for aniline is expected to grow primarily due to the growing demand for MDI, which is extensively used to produce coatings, sealants, elastomers, and adhesives across industries such as construction, automotive, and electronic appliances,” says SpendEdge procurement analyst Anil Seth. “Also, several leading suppliers of chemicals are investing in R&D to develop bio-based aniline on a commercial scale,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Aniline Market:
- Development of bio-based aniline
- Increase in benzene prices
- Increasing number of joint ventures in aniline supply base
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Development of bio-based aniline:
The breakthrough in developing aniline from biomass instead of petroleum-based raw materials such as nitrobenzene, phenol, and ammonia has prompted suppliers in this market space to develop bio-based aniline. Moreover, the raw material is renewable and relatively safer when compared with petroleum-based products. By procuring bio-based aniline, the buyers can minimize their carbon footprint, and it even helps their customers in reducing the carbon footprints of their aniline-based products.
Increase in benzene prices:
Benzene is an essential ingredient used in the production of aniline. Due to maintenance turnarounds at several manufacturing units across the globe, benzene experienced a rise in its prices between November 2016 and November 2017. The increase in prices of benzene also led to an increase in prices of aniline. Moreover, to reduce the surplus of supply, suppliers such as Petro Rabia and Sadara decreased their benzene production during this period.
Increasing number of joint ventures in aniline supply base:
Globally, several aniline suppliers are increasingly engaging in joint ventures to leverage each other's experience, knowledge, and resources. Such joint-ventures also enable suppliers to have better control over global supply and pricing of aniline. Moreover, engaging in joint-ventures also helps them in ensuring a constant supply of aniline for buyers across the globe.
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