Aldehyde Market 2022 - Revenue, Production, Worldwide Opportunities, Demand and Geographical Forecast To 2030

Market Overview

Global Aldehyde Market is estimated to reach a value of USD 6.0 billion in 2030 and is expected to grow at a CAGR of 3.5% during the forecast period.

Aldehyde is an organic compound containing a formyl functional group. Aldehydes have properties that are diverse and depend on the remainder of the molecular functional group. Significant types of aldehyde group are formaldehyde, butyraldehyde, acetaldehyde, propionaldehyde, benzaldehyde, and others. Aldehydes are used as building blocks in the synthesis of diverse commercially essential compounds, which are used across in chemical, pharmaceutical, food & beverages, and automotive and others. Industrially, aldehydes are mainly used for producing other chemicals such as acids, alcohols, resins, etc.

Among the various types of aldehydes, formaldehyde is used significantly for multiple applications such as tanning, preserving, fungicide, insecticide, and for the production of polymeric materials. Another, important compound of aldehyde family is acetaldehyde, which is used in the production of acetic acid and is used as a plasticizer in the plastic industry and paints binder in paints & coating industry. The growing demand for formaldehyde and acetaldehyde is considered to be among the key driving factor for the growth of global aldehyde market during the forecast period.

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Furthermore, increasing demand for formaldehyde form medical industry as disinfectant owing to its superior ability to kill bacteria and other microbes is expected to augment the growth of the market. Another prominent factor which is expected to drive the growth of global aldehyde market is increasing demand of benzaldehyde, as a precursor in the production of various chemicals such as plastic additives, pharmaceuticals, styrene, acridine dyes, and others. Butyraldehyde is another chemical which is used in the production of downstream chemicals such as n-butanol, 2-ethyl hexanol, and polyvinyl butyral. Thus, with the diverse and growing application of the aldehyde family, the market for an aldehyde is expected to grow at a significant pace. Although aldehyde is used indispensably across various end-use industries such as food & beverages, healthcare, and chemicals, however, environmental hazards and toxic nature associated with aldehyde compounds is expected to act as a major restraining factor for the growth of the global market.

Key Players

Some of the key players operating in the global aldehyde market are Huntsman Corporation (US), Eastman Chemical Company (US), BASF SE (Germany), Celanese Corporation (US), Gujarat Alkalies And Chemicals Limited (India), Georgia Pacific Corporation (US), Simalin Chemicals Industries Limited (India), China National Petroleum Corporation (China), Sinopec Corporation (China), Sumitomo Corporation (Japan), Dynea Oy (Finland), UK Aromatics & Chemicals (UK), Ascent Finechem (P) Ltd (India), and Atul Ltd (India).

Segmentation Analysis

The global Aldehyde Market has been segmented based on product type, end-use industry, and region.

Based on product type, the global aldehyde market has been categorized as formaldehyde, acetaldehyde, benzaldehyde, butyraldehyde, propionaldehyde, cinnamic aldehyde, and others.

By end-use industry, the global aldehyde market has been divided into chemicals, healthcare, petrochemical, polymer, paints & coatings, adhesives & sealants, and others

The global aldehyde market, by region, has been segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

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Target Audience

Supplier and traders of aldehyde
Manufacturers of aldehyde
Resign manufacturers.
Research institute/education institute.
Potential investors.
Regional Analysis

The Asia-Pacific aldehyde market is expected to dominate the global market owing to massive chemicals and automotive production base in China, India, and ASEAN countries. The region is expected to witness healthy growth during the forecast period further, owing to rapid industrialization and economic growth in the region.

Moreover, global chemical manufacturers are focusing on shifting their production base to India and China, owing to favorable government policies and lower labor and raw material cost, this trend is expected to further augment the growth of global aldehyde market during the forecast period. North America is expected to be the second-largest market for aldehyde market. The region is projected to experience moderate growth during the forecast period. The growing chemical and manufacturing industry supports the increase in the region in the US. The European market is projected to witness steady growth during the forecast period primarily due to improving economic growth and increasing investment in the chemical industry, particularly in Germany and France. Latin America and Middle East & Africa regions are expected to grow at a moderate CAGR during the forecast period.

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This release was published on openPR.