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Growing automotive sector demand is likely to stimulate innovation in nitrobenzene manufacture, propelling the market during the forecast period.

The global nitrobenzene market is expected to grow from $9.76 billion in 2022 to $10.38 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The nitrobenzene market is expected to reach $13.00 billion in 2027 at a CAGR of 5.8%.

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Global Nitrobenzene Market Segments Include:

• By Form: Liquid, Powder
• By Application: Aniline Production, Pesticide Additive, Synthetic Rubber Manufacturing, Paint Solvent, Other Applications
• By Sales Channel: Direct Company Sale, Direct Import, Distributors And Traders, Retailers
• By End-Use: Construction, Agriculture, Pharmaceutical, Automotive, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global nitrobenzene market in 2021.

Major Market Players in the nitrobenzene market include Wanhua Chemical Group Co. Ltd., Covestro AG, BASF SE, Huntsman International LLC, Aromsyn Co. Ltd., Bann Quimica Ltd.a, Dow, SP Chemicals Pte. Ltd., Wilbur-Ellis Holdings Inc., Aromsyn Co.Ltd.

The rising demand for agrochemicals is likely to fuel the expansion of the nitrobenzene market in the coming years. Agrochemicals are any substances intended to eliminate, discourage, or constrain specific plant or animal life forms considered pests. Nitrobenzene is used in agriculture as a plant growth supplement because it promotes flowering and reduces flower loss. Nitrobenzene is a blend of nitrogen and plant growth regulators that functions as a plant energizer, bloom stimulant, and yield enhancer. According to a report published by the Food and Agriculture Organisation, an Italy-based international organisation dedicated to ending hunger, in 2020, the average annual consumption of pesticides has been 1.58 kg per hectare, 0.37 kg per person, and 0.79 kg per USD 1000 of agricultural production over the previous three decades. In 2020, the total volume of pesticides traded increased by 30%. As a result, rising agrochemical demand is propelling the nitrobenzene market forward.

The Nitrobenzene Global Market Report 2023  provides a nitrobenzene market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The nitrobenzene market forecast analyzes nitrobenzene market size, nitrobenzene market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Nitrobenzene is a pale yellow oil with an almond-like odour that is insoluble in water. Nitrobenzene is mostly used as an intermediate in the production of aniline, although it is also found in speciality chemicals like acetaminophen.

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