Propionaldehyde Market Size to Grow Exponentially during the Assessment Period 2017 to 2025

Propionaldehyde Market: Introduction

Propionaldehyde, formula- CH3CH2CHO, is also termed as propanal. It is an organic compound which is exclusively used as chemical intermediate in the manufacturing of propanol and propionic acid. Propionaldehyde is a structural isomer of acetone, have characteristic properties such as flammable nature, colourless, and a pungent-unpleasant odour, among others.

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Generally, Propionaldehyde is manufactured through the hydroformylation reaction in which synthesis gas i.e. hydrogen and carbon monoxide are reacted with ethylene in presence metal catalyst, mainly Rhodium. Propionaldehyde is readily oxidized or reduced in presence of air that leads to numerous addition reactions. Thus, special care has to be taken during the storage of Propionaldehyde. Propionaldehyde mainly finds application in the manufacturing of alkyd resins as it acts precursor in the formation of triol that further used in manufacturing of alkyd resins. Moreover, Propionaldehyde are used in several applications such as in organic synthesis, oxidation to propionic acid and reduction to propanol, among others.

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Propionaldehyde Market: Dynamics

Significant growth of chemicals and pharmaceutical industry across the globe and increasing production capacity coupled with increasing demand for propionic acid in turn is expected to drive the demand for propionaldehyde market. Along with this, the rising demand for propionaldehyde in various application such as in Perfume, plastics and polyols, among other applications, are the major driving factors for the growth of propionaldehyde market over the forecast period. Prompt growth of plastic, paint industry, home care and personal care industries in developing & developed region wherein propionaldehyde mainly finds application leads to drive the its market.

Apart from this, Regulation in Europe over the propionaldehyde usage owing to its flammable nature as well as the harmful effects on human being that may hamper the growth of propionaldehyde market. However, the growth of end use industry coupled with rising demand for biodegradable chemicals in developed region especially in U.S. and Europe may help for the growth of propionaldehyde market over the forecast periods. Thus, rising demand for biodegradable compound and government & industrial initiative for sustainability development across the globe that helps to create opportunity for growth of Propionaldehyde market.

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Propionaldehyde Market: Market Participants

Examples of some of the market participants in the global Propionaldehyde market, identified across the value chain include, Perstorp Holding AB, BASF SE, Eastman Chemical Company, The Dow Chemical Company, Zibo Nuoao Chemical Co.,Ltd., and OXEA Corporation, among others. The market of Propionaldehyde is a highly consolidated market. Manufacturers of Propionaldehyde are adopting the strategy of forward integration to cater increasing demand for Propionaldehyde and to increase their footprint in the global market.

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