The Nitrobenzene Market size is estimated at 12.13 Million tons in 2024, and is expected to reach 14.94 Million tons by 2029, growing at a CAGR of 4.26% during the forecast period (2024-2029).
The nitrobenzene market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, the decrease in demand for various nitrobenzene derivative-based products negatively impacted the market demand. However, the demand for paracetamol derived from the nitrobenzene derivative aniline increased, stimulating the demand for the nitrobenzene market. Nevertheless, the market started to gain pace in the post-pandemic era and was expected to continue the same trajectory.
The Nitrobenzene Market is partially consolidated in nature. Some major players include (not in any particular order) Covestro AG, Huntsman International LLC., Sumitomo Chemical Co., Ltd., Wanhua, and China Petrochemical Corporation (Sinopec), among others.
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