Benzaldehyde is the simplest aromatic aldehyde comprising of a benzene ring. It is colorless liquid at room temperature having an almond like odor. It is one of the pre-dominantly used aldehydes in the chemical industry for the manufacturing of a number of flavors & fragrances, pharmaceutical intermediates, and aniline dyes.
Flavor & Fragrances Set to Capture Significant Share
The use of benzaldehyde for application in flavor & fragrances accounted for ~30% share in 2018, and the significant growth in demand for perfumes and aroma chemicals on the back of rapid consumer inclination towards personal grooming is likely to result in increased share during the forecast period. Moreover, the market for flavors and fragrances is anticipated to cross the US $30 Billion mark before 2025.
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Rooted in food & beverages, the flavor industry has been undergoing significant transformations to deliver unique taste in various products and to expand its relevance in wider industries, thereby potentially raising the demand for benzaldehyde.
Lucrative Opportunities Abound in Agrochemical and Pharmaceutical Industries
In agrochemical industry, benzaldehyde is widely used as an intermediate in the manufacturing of pesticides such as Metamitron, Permethrin, and Fenvalerate, while it is used as a raw material in the production of Difenzoquat – a popular herbicide used to restrict the growth of wild oats in wheat & barley. Accounting for one-fifth of the total sales in 2018, the consumption of benzaldehyde by the agrochemical industry is forecast to register growth higher than that of the global average.
High application potential of benzaldehyde is also identified in pharmaceutical industry; a number of pharmaceutical intermediates such as phenylglycine, (pseudo) ephedrine, and anti-hypertensives are manufactured in the presence of benzaldehyde or uses benzaldehyde as a raw material. In recent years, the demand for benzaldehyde has increased for the production of pseudo ephedrine which is used as sinus decongestant & stimulating agent (higher doses). Additionally, the consumption of anti-hypertensives is expected to increase with the changing lifestyles, which would subsequently increase the demand for benzaldehyde.
Asia Leads Gains in the Market, Europe to Present High Growth Opportunities
Asia will continue to be at the forefront of the benzaldehyde market, as the region houses a number of production facilities, accounting for more than half of the global capacity. The rise of middle class income group in the Asia-Pacific region is expected to further increase the consumption of benzaldehyde for flavor & fragrance products and F&B products such as ice creams, gelatin, puddings, and various types of beverages. Europe continue to offer greater opportunities, and key players such as Emerald Performance Materials and Valtris Specialty Chemicals are continuously focusing on increasing their production capacities for benzaldehyde and other benzyl derivatives to meet the increasing demand in the region.
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The competitive landscape section in the benzaldehyde market report provides valuable information relative to key market players, their business strategies, installed production capacities, recent activities and global position. The demand for benzaldehyde is estimated to exhibit a CAGR above the global GDP growth rate. New product launches, capacity expansions, collaborations, and merger & acquisitions have been the key growth strategies of benzaldehyde manufacturers. Key players operating in the global benzaldehyde market include Emerald Performance Materials, LANXESS, Valtris Specialty Chemicals, Hubei Kelin Bolun New Materials Co., Ltd, Lihai Chemical Industry Co., Ltd, Gujarat Alkalies & Chemicals Ltd, KLJ Group, Kadillac Chemicals Pvt. Ltd, Wuhan Dico Chemical Co., Ltd, Axxence Aromatic GmbH, and others.
The global market for benzaldehyde is segmented on the basis of grades, application and region. On the basis of grade, global benzaldehyde market is segmented into FCC grade (Food Chemicals Codex) and technical grade. On the basis of application, the market is segmented as flavor & fragrances, pharmaceutical intermediates, beverages, food, agrochemicals, dyes & coatings and others. Further, beverages segment is divided into carbonated soft drinks, fruit juices & other soft drinks, and alcoholic beverages (<15ABV). Likewise, the food segment contains bakery goods, confectionary & chewing gums, and ice creams, gelatins & puddings sub-segments. In addition, the benzaldehyde market has been evaluated across primary regions such as North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East and Africa (MEA) along with several developing countries.
About the Report
Fact.MR published an exclusive forecast report on the benzaldehyde market for the period, 2019-2029. The foremost objective of this report on benzaldehyde market is to pitch spearhead insights on market scenario, demand generators, and technological advancements in the benzaldehyde market. The study on the benzaldehyde market also addresses key dynamics, which are expected to diversify the sales and future prominence of the benzaldehyde market.
The report on benzaldehyde market begins with an executive summary in which product definition has been provided. The report further proceeds with taxonomy of benzaldehyde market elaborating on the key segments. It also outlines visionary insights on dynamics of benzaldehyde market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for benzaldehyde. Supply chain analysis and pricing analysis of benzaldehyde market have been included in the report to help the readers clearly understand the product framework map in benzaldehyde market.
The report offers an in-depth assessment on the benzaldehyde market, which is based on a tested & proven research methodology that involves comprehensive primary and secondary research approaches. These research methods have helped in arriving at important numbers for the benzaldehyde market. Data collected on the benzaldehyde market by these researches go through several validation funnels, examination and re-examination, prior to their inclusion in the report.
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Credibility of the statistics evaluated and data acquired on the benzaldehyde market, bases itself on unique nature of Fact.MR’s research methodology, which ensures greater accuracy and provision of authentic data. Intelligence obtained from opinion leaders and industry experts in the benzaldehyde market have been extrapolated, meanwhile the contemplation of the data has allowed analysts to develop this analytic and insightful report on the benzaldehyde market.
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