Increasing production capacities in India represents growing demand for PNA
The global P-Nitroaniline (PNA) demand has grown at an aggregate rate of 4.2% per annum between 2014 and 2019. The demand for P-Nitroaniline (PNA) is expected to be affected to an extent in 2020-21, due to COVID-19 impact and the market may contract by around 12%, however, the demand is expected to recover steadily throughout the forecast period.
Global P-Nitroaniline (PNA) industry demand exhibited strong growth, resulting from an improvement in the global dyes, pharmaceuticals, rubber chemicals and chemicals industry.
Asia Pacific is the biggest market at a global level in 2019. This growth can be attributed to the increase in global demand for dyes, rubber chemicals and pharmaceuticals. P-Nitroaniline is used in these various types of pharmaceuticals and antioxidants, and in industries such as textile, personal care and printing amongst others. Like antioxidants, the region has witnessed significant growth in dyes and pesticide applications due to the presence of agrochemicals, textile, personal care and printing industry base in Asia-Pacific.
China accounted for the largest producer of P-Nitroaniline in the world and the demand for P-Nitroaniline in the country is expected to grow at 5.6%, during the forecast period, However shifting of P-Nitroaniline capacities to Indian territory has been seen during the historical years due to increasing environmental concerns in China. New capacity additions in Indian market are expected during the forecast period, to balance the increasing demand for dye and other chemical intermediates in the country.
North America is estimated to grow at a CAGR of 3.3% in the long-term forecast till 2025. USA is the largest consumer of P-Nitroaniline (PNA) in the region and the country is expected to witness significant growth during the forecast period. Regional demand is mostly met through the imports of PNA from Europe and Asian countries. The domestic productions of P-Nitroaniline are reduced historically due to its hazardous nature and cheap availability through imports.
Europe, North America, South and Central America, Central & Eastern Europe, and Middle East & Africa account for a small share in the global demand for PNA, this can be attributed to the fact that P-Nitroaniline is an intermediate and its end product are available through imports at lower cost from Asian countries as compared to that of produced domestically. Increased environmental concerns in these regions and restrictions in handling and waste disposal of P-Nitroaniline is another reason for small share of these regions.
Asia-Pacific P-Nitroaniline Demand Analysis (Kilo Tons)
Prismane Consulting has considered a higher growth rate in comparison to historical trends for P-Nitroaniline (PNA) during the forecast period in the major region due to the following assumptions
- Sudden drop in demand in 2020, due to COVID-19 crisis globally, which is assumed to get balanced during the forecast years.
- Higher growth in India is expected which is witnessed by new capacity additions in the future are in tandem with the forecast view.
- Increasing demand is also witnessed in the application industry in India to supply end use product of PNA globally.
For more details on P-Nitroaniline (PNA) Market, please contact us at sales@prismaneconsulting.com
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