Increasing demand from food & beverage, paper & pulp, pharmaceutical, and water treatment applications are propelling the market growth.
The Global Acetaldehyde Market is forecast to reach USD 2.25 Billion by 2026, according to a new report by Reports and Data. Acetaldehyde, otherwise called ethanal (CH3CHO), is an organic compound in the aldehyde group. The colorless and flammable liquid has a pungent smell, and it is mainly used as vinegar in households. This compound is present in several fruits and vegetables as well as in diesel and gasoline exhausts.
The market for acetaldehyde is influenced by the rising food & beverage and chemical industries. Besides the compound have various applications in paints and coatings, pharmaceuticals and cosmetics industries. The growing demand for basic dyes and polymer resins is expected to drive the growth of acetaldehyde market.
Market Size – USD 1.38 Billion in 2018, Market Growth – CAGR of 6.4%, Market Trends – Usage of pentaerythritol in manufacturing neoployol esters.
The Asia Pacific region will be the fastest-growing region during the forecast period. Easy availability of raw material for the production of ethanol and the growing population in the region will significantly work in favor of the market. Most of the developing countries are looking at India and China as the global market. These countries consist of over 40% of the global population and applications of acetaldehyde in the region will grow at a very high rate.
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COVID-19 Impact on the Global Acetaldehyde Market:
The latest report is the first Acetaldehyde market research document covering the current global economic landscape severely impacted by the COVID-19 outbreak. The global health emergency has resulted in unprecedented changes in the global economy, thereby disrupting the Acetaldehyde business sphere’s functioning. The current scenario of this ever-evolving business vertical has been clearly depicted in the report, with a broad evaluation of the pandemic’s present and future effects.
Key Players Profiled in the Report Include:
- Showa Denko K.K.,
- Merck KGaA,
- Celanese Corporation,
- Eastman Chemical Company,
- Jubilant Life Sciences,
- Lonza Group Ltd.,
- BASF SE,
- Sumitomo Chemical Co. Ltd.,
- and Ashok Alco-Chem Ltd.
- among others.
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The Acetaldehyde market Share is segmented on the basis of product types and applications offered by the market to impart an easy understanding of the Acetaldehyde market operations and covers:
By Product Process:
- Ethylene Oxidation
- Ethanol Oxidation
- Ethanol Dehydrogenation
- Food & Beverages
- Paints & Coatings
- Plastic & Synthetic Rubber
The global Acetaldehyde market Size has been categorized into several significant regions, such as North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. This section of the report analyzes the presence of the global Acetaldehyde market across the major regions. It determines the market share, market size, revenue contribution, sales network and distribution channel, and other key elements of each regional segment.
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Further key findings from the report suggest:
- The chemical produced from the oxidation of ethylene held the largest market share of 55.4% in the year 2018. The process, also known as Wacker process involves the use of a reduction-oxidation system to produce the compound. The compound has a higher reaction rate, although the chlorinated products are absent.
- The pyridine segment held the largest market share of 39.4% in the year 2018. Pyridine is used as a raw material in ethylidene diacetate ((CHâ‚ƒCOâ‚‚)â‚‚CHCHâ‚ƒ.), which is further used in the production of vinyl acetate. This is also used as a plasticizer in the plastic factory and as a paint binder in the paint factory. Furthermore, it is used as a raw material in pesticides.
- The Asia Pacific region is forecasted to witness the highest CAGR of 7.4% during the forecast period. This is due to the easy availability of raw material of acetaldehyde in the region, and countries like China and India, where the manufacturing cost of acetaldehyde is quite low.
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