The global acetaldehyde market accounted for US$ 1,329.4 in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 - 2027, to account for US$ 2,367.0 Mn by 2027
NEW YORK, Dec. 4, 2019 /PRNewswire/ --
The global acetaldehyde market accounted for US$ 1,329.4 in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 - 2027, to account for US$ 2,367.0 Mn by 2027. Acetaldehyde is used in a wide range of industrial applications; it is the most commonly used raw material in the organic chemical industry. As a raw material, it is used in the manufacturing of paint binders, plasticizers, and super absorbents that go in baby nappies. It is also often used as an intermediate in the chemical synthesis of acetic acid. Moreover, acetaldehyde chemical is infused in various types of perfumes and can further be used in decorative cosmetics, fragrances, shampoos, soaps, and oral care products as well as in household cleaners and detergents. Therefore, a wide range of applications is projected to boost the growth of the acetaldehyde market. However, environmental and health risk associated with acetaldehyde is projected to restrict the acetaldehyde market growth over the forecast period.
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In the food & beverage industry, acetaldehyde is used in the production of preservatives and flavorings.Furthermore, it occurs naturally in fruits and fruit juices, ripe fruits, cheese, and heated milk.
Acetaldehyde arises naturally during fermentation and is found in low levels in foodstuffs such as milk products, soy products, pickled vegetables, and nonalcoholic beverages.Acetaldehyde acts as an additive in fruit and fish preservatives and flavoring agents, as well as a cross-linker in gelatin hardening.
Furthermore, it is also used in producing vinegar and fruit and fish preservative. Acetaldehyde is mainly used to produce other chemicals, such as disinfectants, drugs, perfumes, explosives, lacquer and varnishes, photographic chemicals, phenolics, and urea resins, rubber accelerators and antioxidants, and room air deodorizers.
The developed and developing Asian countries, such as China, India, South Korea, and Australia, provide a huge market growth perspective for many small and large players operating in the acetaldehyde market.The rapid industrial development in these countries is projected to boost market growth over the forecast period.
Acetaldehyde has applications in a wide range of industries, including chemicals, plastics, and synthetic rubber, food & beverages, paints and coatings, pharmaceuticals and cosmetics, and paper and pulp, among others. The chemical, plastic, rubber, food, and beverage industries in these countries are well established in this region, which is further propelling the acetaldehyde market in the Asia Pacific region.
Some of the players present in global acetaldehyde market are Ashok Alco - chem Limited, Celanese Corporation, Chempure Private Limited, Eastman Chemical Company, Jubilant Life Sciences Limited, Lonza Group Ltd, LYC Chemical Corp., Merck KGaA, Sekab, and Sumitomo Chemical Co., Ltd. among others.
The overall global acetaldehyde market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the acetaldehyde market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the acetaldehyde market.
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