Acetaldehyde Market Growth, Share, and Forecast Analysis | Key players of the Market are BASF SE, Celanese Corporation, Eastman Chemical Company, LCY Group, and Others

Acetaldehyde Market Overview:

Acetaldehyde, an organic compound, is one of the most important aldehydes produced and consumed worldwide for a variety of industrial applications. Acetaldehyde exists naturally and is also produced on a large scale in commerce in various parts of the world. Bread, coffee, fruits and plants are natural sources of the compound. Acetaldehyde is used mainly in the production of chemical compounds such as peracetic acid, pentaerythritol, acetate esters, acetic acid, acetic anhydride, 1,3-butylene glycol and pyridine. The acetaldehyde market must be fed mainly by the intermediate markets that use the compound as a key raw material. In terms of region, Asia-Pacific is expected to be the main acetaldehyde market during the forecast period. However, it is estimated that the global acetaldehyde market is growing at a slow pace, since most of the derivative products are made with better sources of raw materials such as methanol.

Acetaldehyde Market Growth:

The global acetaldehyde market is expected to witness a CAGR of approximately 3.4% during the forecast period, majorly driven by the growing demand for pyridlines in the Asia-Pacific region and the increasing demand for pentaerythritol to produce neopolyolesters.

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Acetaldehyde Market Drivers and Restraints:

Acetaldehyde is produced commercially by oxidation of ethylene through the copper system. Acetaldehyde can also be produced by hydration of acetylene using mercury salts as a catalyst. Other production methods, such as the partial dehydrogenation of ethanol, are not currently used, given the cost and efficiency dynamics associated with the reaction. Growth in the global markets for peracetic acid and acetic acid should be one of the key factors in the global acetaldehyde market. However, it is likely that the availability of better substitutes for acetaldehyde as a raw material will hamper the market in the next eight years. The need for acetaldehyde in the production of chemical compounds such as peracetic acid and acetic acid mentioned above is important. For use in a variety of food and beverage industries, it is expected that pulp and paper bleaching, water treatment, medicine and agriculture will stimulate the global acetaldehyde market in the coming years.

Acetaldehyde Market Geographical Analysis:

The Asia-Pacific region is likely to be the main market for acetaldehyde in the coming years, mainly due to the growing demand for chemicals such as peracetic acid in emerging Asian countries such as India, Indonesia, Malaysia and Thailand. Apart from this, countries like Brazil, Argentina, Egypt, South Africa, Saudi Arabia and Israel have experienced rapid growth in industries such as food and beverage processing in recent years. The potential of these industries is enormous in countries such as China, India, Indonesia, Thailand and Brazil, due to the rapid growth of the population in these countries and the increase in consumer parity. As a result, it is expected that the demand for chemical products for the processing of food, and beverages will increase significantly in the coming years. In addition, the United States and European countries are slowly recovering from the economic crisis. The governments of the developed countries of North America and Europe focus mainly on the use of easily disposable biocidal products, such as peracetic acid. As a result of these factors, it is expected that the global market for acetaldehyde will experience significant demand as a precursor to the production of acetic acid and peracetic acid in the coming years.

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Acetaldehyde Market Key players:

BASF SE
Celanese Corporation
Eastman Chemical Company
Huntsman Corporation
LCY Group
Others

The main players in the acetaldehyde market are mainly focused on developing countries to exploit their immense market potential. These companies are building important manufacturing facilities in developing countries to meet the growing demand for acetaldehyde in various sectors of end users. As a result, the global acetaldehyde market is expected to grow decently in the next six years. SEKAB and Eastman Chemical Company are the most prominent players of the market.

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