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.
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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Other applications like benzaldehyde and butyraldehyde is also used in end user industries like pharmaceuticals, dyes & coating industry, detergents and other industrial applications. Benzaldehyde possesses almond fragrance which is extensively used in aroma chemicals and soaps & detergents. Growing usage of benzaldehyde in household activities is also driving the aldehyde market growth.
Aldehyde is anhydrous salt form of sodium carbonate. It is also known as washing soda with molecular formula (Na2CO3). Aldehyde possess inherent properties which make it used as component on largescale in domestic and industrial products. Aldehyde is found in white powder as well as granules and is odorless alkali chemical solution in water. Similarly, to other aldehydes, butyraldehyde is also used in producing downstream chemicals such as n-butanol, 2-ethylhexanol and polyvinyl butyral which are extensively used in various end used industries. N-Butanol is extensively consumed in butyraldehyde.
As aldehydes are indispensable in end user industries, some of aldehydes possess toxic chemicals which restrict the market growth over the forecasted period. Therefore, owing to government regulations regarding environmental concern, many key players are looking out for bio-based or green aldehyde in many applications. Developed regions are supporting manufacturers in implementing green aldehydes as substitute in many industries.
Fluctuating prices of crude oil and rising energy prices have challenged many manufacturers to tackle with suitable cost-pricing policies. The key players are expected to exert pressure on exports especially in China and U.S due to volatile and diverse nature of aldehyde. Developed market such as Europe and North America are looking out for green aldehyde production which is low-cost and turning to new substitute through research and development.
Global Aldehyde Market Players:
The major key players of this market are: 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.
The global 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.
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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.
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