Aldehyde Market Size | Analysis and Demand with Forecast Overview to 2023
Aldehyde Market Highlights:
Aldehyde is organic chemical compound containing formyl group. Aldehyde is classified as formaldehyde, acetaldehyde, butyraldehyde, benzaldehyde, propionaldehyde and others. Out of this, formaldehyde and acetaldehyde are two most important family members in aldehyde market. Rising applications of aldehyde across various industry is driving the aldehyde market demand. According to remainder of molecular apart, aldehyde possesses diverse and volatile nature. Each of these aldehydes are used for different applications according to various properties it possesses. Growing industrial applications, aldehydes are extensively used in medical and manufacturing of downstream chemicals. It acts as precursor to various chemical such as acids, alcohols and resins etc.
Aldehyde Market Players:
BASF SE (Germany), Huntsman Corporation (U.S), Celanese Corporation (U.S), Georgia Pacific Corporation (U.S), Gujarat Alkalies And Chemicals Limited (India), Simalin Chemicals Industries Limited (India), Eastman Chemical Company (U.S), Sinopec Corporation (China), China National Petroleum Corporation (China), Sumitomo Corporation (Japan) and others.
On basis of product type, aldehyde is segmented as formaldehyde, acetaldehyde, butyraldehyde, benzaldehyde, propionaldehyde and others. Formaldehyde consumes highest market share in aldehyde. Owing to use of formaldehyde in medical applications such as disinfectant as it kills microbes and bacteria is driving the aldehyde market demand growth in coming years. It is also used in producing resins such as urea, melamine and phenol.
Growing use of Urea resins in agrochemicals is expected to drive the aldehyde market over the forecasted period. Acetaldehyde is second largest segment in aldehyde market. The acetaldehyde market is driven by use in production of acetic acid which is extensively used in various end user industries. Also, acetaldehyde is used in plasticizer in plastic industry and as a paint binder in paints & coating industry. Owing to its growing applications, acetaldehyde is higher on demand in developing regions owing to growing paints & coating industry and pharmaceutical industry.
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Segmentation:
Aldehyde Market is majorly segmented on the basis of product type and application. Based on product type, aldehyde market is segmented into formaldehyde, acetaldehyde, butyraldehyde, benzaldehyde, propionaldehyde and others. Based on application of aldehyde, the market is segmented into pharmaceuticals, soaps & detergents, medical disinfectants, plastic additives, agrochemicals, industrial applications.
Regional Analysis:
The Asia-Pacific Aldehyde market is expected to grow due to growing application industry. China consumes largest market share in global aldehyde market. The report estimates the size of the aldehyde market both in terms of volume and value. China, India, Brazil and Indonesia are expected to drive the market demand owing robust industry growth.
Rapid industrialization and huge demand from agriculture industry for urea and other agrochemicals is likely to drive the aldehyde market growth. Europe witnessed a positive growth owing to use of acetaldehyde for production of plasticizer in plastic industry is expected to drive the use in automobile industry. North America are expected to witnessed a steady growth owing to stringent regulation for producing synthetic Aldehyde. Major players in these are shifting towards eco-friendly products which is easily available and lower in cost.
Intended Audience:
Aldehyde manufacturers
Traders and distributors of Aldehyde
Production Process industries
Potential investors
Raw material suppliers
Nationalized laboratory
The report about Global Aldehyde Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.