Nitrobenzene is an intermediary organic chemical which is pale yellow with an almond-like odor, insoluble in water, and is produced commercially by the nitration of benzene and the nitration process involves the formation of nitronium ion (NO2+), generated by the reaction between sulfuric acid and nitric acid. According to BlueQuark Research & Consulting, the global Nitrobenzene market is expected to witness a moderate growth rate during the forecasted period. Factors like increasing demand for Aniline production are expected to drive the nitrobenzene market growth in the forecasted period. Further, growing demand for MDI-based rigid polyurethane foam in the construction sector is projected to drive the need for Nitrobenzene during the forecast period. Furthermore, the continuously increasing population and increasing demand for food products emphasize agriculture, raising the market for the organic compound in pesticides. Such growing demand for the combination of agrochemical products would support the industry's growth. However, various supporting factors are fostering the industry's growth. Adverse factors like strict government regulations on volatile organic compound (VOC) emissions and the growing demand for bio-fertilizers may negatively impact the sector's development. The ever-increasing need for bio-based chemicals and unfavorable conditions arising due to the impact of COVID-19 are likely to hinder the market's growth.

Nitrobenzene is an aromatic compound primarily used in the production of aniline. It is also worn in manufacturing numerous derivatives in cosmetics, agriculture, and different types of industrial applications where Nitrobenzene play-acts as a precursor. Nitrobenzene is increasingly used to mask harmful odors from shoes, leather, and floor polisher. The processing of medicines, lubricating oils, and synthetic rubber bolsters the demand for Nitrobenzene.

Aniline production registered for the largest share of Nitrobenzene's application. The catalytic hydrogenation of Nitrobenzene majorly produces it. Nitrobenzene is used to manufacture aniline, which can further produce methylene diphenyl diisocyanate (MDI) and polyurethanes. It finds its primary application in various end-user industries, including automotive, construction, etc. Nitrobenzene is primarily used to produce aniline, a chemical employed in the manufacture of Methylene Diphenyl Diisocyanate (MDI), which is worn to manufacture Polyurethane (PU) foams and synthetic rubber. Polyurethane foams and synthetic rubber are used in the automobile industry. The growth of the automotive industry is driving the demand for tire vehicles, which is likely to raise the production of synthetic rubber, which is manufactured using Nitrobenzene. MDI derived from Nitrobenzene via aniline production produces various automotive interiors and different sections of a vehicle like steering wheels, airbag covers, front and rear glass panes, and waterproof floor materials. According to OICA, around 77.62 million automobiles were produced globally in 2020 compared to 92.18 million vehicles built in 2019, witnessing a decreasing growth rate of about 15.8%. Thus leading to a falling off in the consumption of MDI-based elastomers and polymers like polyurethane, etc., which are worn in the production of a variety of automotive parts, including steering wheels, airbag covers, waterproof floor materials, bumpers, and others, which in turn negatively impacted the demand for the aniline and the market studied.

The global Nitrobenzene market is highly fragmented. The major players in the worldwide Nitrobenzene market are BASF SE, Covestro AG, Huntsman Corporation, Wanhua Chemical Group Co., Ltd., The Chemours Company. 

The Asia Pacific region is currently the global leader in the studied market. It is the largest producer and consumer of Nitrobenzene. Due to affordable infrastructure and labor costs, most manufacturers have shifted their manufacturing units in this region. China is the global leader in terms of Aniline production. Europe is the second-largest consumer of Nitrobenzene. The methylene diphenyl diisocyanate (MDI) manufactured from aniline acts as a significant precursor for polymers used in the various end-user industries and construction, automotive, and others. Furthermore, polyurethane foams produced from MDI, mainly used in multiple building insulation applications, act as one of the significant components in the construction, both in their flexible and rigid form. MDI-based rigid polyurethanes, adhesives, binders, sealants, coatings, and other MDI products are also used in the construction industry. Nitrobenzene goes for producing aniline, and 87% of aniline is used to create MDI (4, 4-methylene diphenyl diisocyanate), which is mainly used to make rigid polyurethane foam and polyurethane elastomers. The most extensive rigorous foam application for MDI has been in construction uses, consuming about 60 % of the MDI. Significant applications are for board and laminate insulation for both residential and commercial construction. Other major rigid foam outlets are for appliances, packaging, transportation, and industrial insulation for tanks and pipes. Therefore, major end-use industries for Nitrobenzene include construction, appliances, packaging, transportation, industrial insulation, etc. Nitrobenzene is utilized as an energy source for plants and accompanies a rise in crop yield. The industry has changed several global agriculture changes by developing farming techniques, drip irrigation, crop protection, and soil management. The governments have continuously focused on organic farming in the economy, society, and habitat by providing farmers with education and training to boost the quality of crops, soil texture, and productivity. 

In July 2020, KBR, Inc. (American engineering, procurement, and construction company) developed a proprietary process for adiabatic nitration of benzene to Nitrobenzene (NB). KBR has been awarded a contract for this technology by Kutch Specialities Pvt Ltd, India. Under the terms of the agreement, KBR has to provide preliminary and detailed engineering design, equipment, and related advisory services to Kutch Specialities Pvt Ltd for its grassroots nitrobenzene project in India.

Global Nitrobenzene Market report provides deep insight into the current and future state of the Nitrobenzene market across various regions. The study comprehensively analyzes the Nitrobenzene market by segmenting based on end-user (construction, agriculture, pharmaceutical & automotive), application (Aniline production, paint solvent, pesticide additive, synthetic rubber manufacturing & other applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth, in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.