Strategic market of Global Aldehyde Market is expected to grow at ~3.9% CAGR during 2016-2022
Market Research Future (MRFR) Announces the Publication of its Research Report Global Aldehyde Market 2016-2022
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Aldehyde market size is expected to grow at ~5.7 billion by 2022. The market witnessed a significant growth owing to use of formyl groups in various applications across different regions. Aldehyde is mainly driven by growing use of formaldehyde in different resins such as urea, melamine and phenol.
Along with producing resins, formaldehyde is used in producing downstream chemicals such as 1,4- butanediol and others. With growing applications aldehyde being parent market is also driven owing to large scale consumptions in developing regions.
Aldehyde is organic compound with formyl group as structure (-CHO). Properties of aldehyde differs from each remainder molecular apart and chemical compound contained. Aldehydes are classified according to product as formaldehyde, acetaldehyde, butyraldehyde, benzaldehyde, propionaldehyde and others. According to their functions, each aldehyde group is produced in different quantities and has different applications in different regions.
Key Players of Global Aldehyde Market
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)
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Formaldehyde is largest market share holder in aldehyde market. The formaldehyde market is driven by its uses in producing resins such as urea which is largely used in agriculture industry. With rise in population in emerging economies such as China and India, there is large demand from agriculture sector. Using urea formaldehyde resins boost the crop plantation which ultimately drives the aldehyde market. Formaldehyde is also used in melamine and phenol resins. Along with producing resins, formaldehyde is also used in medical applications such as disinfectants owing to properties it poses such as killing microbes and bacteria.
Acetaldehyde is second largest market segment in aldehyde family. Acetaldehyde is used as precursor compound and also used as parent chemical in acetic acid production. The main application of acetaldehyde is paint binder in paint & coating industry and plasticizer in plastic industry. Other applications like benzaldehyde is also used in production of dyes, pharmaceutical products and plastic additives.
Rising use of benzaldehyde in aroma chemicals and pharmaceutical industry is expected to drive the aldehyde market growth over the forecasted period 2016-2022. Butyraldehyde is also another member of aldehyde group which has tremendous industrial applications. It also used in producing downstream chemicals such as n-butanol, 2-ethylhexanol and polyvinyl butyral which are extensively used in various end used industries. Increasing applications of aldehyde family is expected to boost the market growth over the forecasted period.
Though aldehyde poses diverse and volatile nature, there are indispensable in many end user industries. Some of the aldehyde are toxic in nature which causes harm to environment. Therefore, many organizations are putting restriction in using aldehyde. Moreover, government is supporting for green aldehyde market in many industries. Key players in market are looking out for substitute and investing more in R&D in order to tackle the export prices of aldehyde. Green aldehyde or bio-based aldehyde is opening market for SMEs in developing regions.
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The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Aldehyde market is largest market owing to robust industry growth of application industry in China and India. Increasing applications such as medical disinfectant, plasticizer, agrochemicals in countries like China, India, Thailand and Indonesia is expected to drive the market growth.
Europe is second largest region in aldehyde market. Owing to use of acetaldehyde for production of plasticizer in plastic industry is expected to drive the use in automobile industry. Growing automobile sector in Europe is expected to drive the aldehyde family group. In North America, stringent regulations of government regarding usage of chemicals in food & beverage and detergent industry has led manufacturers in these regions to switch to eco-friendly products. Thus, aldehyde market in North America is seen steady growth over the forecasted period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
For further information on this report, please visit- http://www.Market Research Future (MRFR).com/report/global-general-retail-goods-and-services-agribusiness-market
- Aldehyde manufacturers
- Traders and distributors of Aldehyde
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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