ACCESSWIRE
30 Jun 2020, 22:38 GMT+10
Major manufacturers of nitrobenzene are setting up social distancing strategies in their facilities in addition to the optimization of supply chains, to bring back operational capabilities during the coronavirus crisis.
ROCKVILLE, MD / ACCESSWIRE / June 29, 2020 / The global nitrobenzene market is expected to grow 1.4x, at a moderate 3.6% CAGR, during the assessment period 2020 - 2030. The global nitrobenzene market has been hit hard owing to a number of factors during the covid-19 pandemic. Disruptions in end use verticals has reduced global demand. In addition, suspension of factory activities has impacted productivity. In addition, reluctance by investors, supply chain disruptions, and workforce shortages has also hurt market prospects in the short term.
According to the study released by Fact.MR, nitrobenzene manufacturers have to focus on evaluating budgets, cash flow, and supply chains during this low-revenue period. Temporary closure of facilities could threaten the survival of small-scale businesses in the industry.
'The nitrobenzene market is gaining opportunities owing to strong demand for nitrobenzene, which will replace chemicals that emit volatile organic compounds, meeting the needs of sustainability goals. Rapid developments in the dyes, pharmaceuticals, pesticide, and chemical industries will account for substantial market growth through the end of the pandemic,' says the FACT.MR study.
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Nitrobenzene Market- Critical Takeaways
Nitrobenzene Market- Drivers
Nitrobenzene Market- Restraints
COVID-19 Impact on Nitrobenzene Market
Prior to the pandemic, the nitrobenzene market had been slammed by the U.S. - China trade war. With the pandemic spreading across the globe, the Chinese industry has been among the worst effected by the outbreak. Currently concerns over a second wave of coronavirus cases, are hampering developments in the nitrobenzene industry. International restrictions on exports and imports also affect the global market. Poor demand arising from a downturn in construction and automotive industrial activity will restrict the market. The recovery of the market post-pandemic will go well into 2021 as the automotive industry is expected to gain demand gradually in the months ahead.
Explore the global nitrobenzene market with 194 figures, 74 data tables, along with the table of contents of the report. You can also find detailed segmentation on
https://www.factmr.com/report/4733/nitrobenzene-market
Competitive Landscape
Prominent nitrobenzene manufacturers are investing in strategic mergers and acquisitions. Also, major producers pushing for the expansion of production capacities. For instance, Solvay has acquired U.S. based Cytec for composite materials and technology. Further, SABIC has merged with Aramco, which will contribute to its portfolio including that of nitrobenzene.
Huntsman Corporation, Wanhua Chemical Group Co. Ltd., BASF SE, and Covestro AG are some of the key nitrobenzene producers in the global market.
About the Study
The study offers readers an exhaustive market forecast of the nitrobenzene market. Global, regional and national-level analysis of the latest industry trends influencing the nitrobenzene market is covered in this FACT.MR report. The study provides actionable insights on nitrobenzene market according to application (aniline production, pesticide additive, synthetic rubber manufacturing, paint solvent, and others), and end use (construction, agriculture, pharmaceutical, automotive, and others) across six regions (North America, Latin America, Europe, South Asia & Oceania, East Asia, and MEA).
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About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the chemical & materials sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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PR- https://www.factmr.com/media-release/1488/global-nitrobenzene-market
SOURCE: FactMR
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