Press release
Global Benzaldehyde Market Analysis, Growth Prospects, Opportunities, Trends, Global Key Players Like Emerald Performance Materials Llc, Gujarat Alkalies And Chemicals Limited, Lanxess Ag, Kadillac Chemicals Pvt Ltd, Jiangsu Jiamai Chemical Co. Ltd
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Benzaldehyde is traditionally manufactured by the chlorination of toluene; however, it is not regarded as safe for use in food industries, due to the presence of chlorine traces. Hence, benzaldehyde manufactured by toluene oxidation process is gaining popularity across industries, prominently among the food & beverage manufacturers. Aroma chemical industries are the prominent end-user of benzaldehyde, followed by pharmaceutical and agrochemical industries.
Key Players and Competition Analysis
The key players of Global Benzaldehyde Market are Emerald Performance Materials LLC, Gujarat Alkalies and Chemicals Limited, LANXESS AG, Kadillac Chemicals Pvt Ltd, Jiangsu Jiamai Chemical Co. Ltd, Wuhan Dico Chemical Co. Ltd, Penta S.R.O, and Taj Pharmaceutical Limited,
Segmentation Analysis
By Derivatives: Benzoic Acid, Sodium Benzoate, Benzyl Alcohol, Cinnamic Acid, and Others. By Production Process: Toluene Chlorination Process, Toluene Oxidation Process. By Application: Aroma Chemicals, Pharmaceuticals, Agrochemicals, Food & Beverages, Dyes & Coatings, and Others. By Regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa
Regional Analysis
The global Benzaldehyde Market is expected to register steady growth of 3.5% over the forecast period. The prominent factors fuelling the growth of global benzaldehyde market are, rise in demand among the aromatic chemical manufacturers along with the growth in aromatic chemicals market, increasing demand for benzaldehyde as an active pharmaceutical ingredient (API) in the pharmaceutical industries.
Agrochemicals industry being one of the key consumers of benzaldehyde in the developing markets is further expected to augment the demand for benzaldehyde. Apart from the above-mentioned factors, demand for food grade benzaldehyde obtained from toluene oxidation process in food and beverage industry. Furthermore, consumption of benzaldehyde in manufacturing of dyestuff, flavors and fragrances is propelling the demand for benzaldehyde, which in turn is adding value to the global benzaldehyde market.
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However, the crude oil price fluctuations leading to the volatility of raw material prices for benzaldehyde manufacturing and federal regulations associated with manufacturing and consumption of benzaldehyde, emergence of small players leading to competitive pricing are some of the restraining factors identified in the global benzaldehyde market. Europe, North America accounts for second and third market share in the global benzaldehyde market.
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