Aldehyde Market Synopsis
Aldehyde is organic compound containing functional group called as formyl group. Aldehydes have properties that are diverse in nature and depend on the remainder of molecular functional group. Major types of aldehyde group are formaldehyde, acetaldehyde, butyraldehyde, benzaldehyde, propionaldehyde and others. Due to volatile nature of aldehyde, each of aldehyde group has different applications and is produced in different quantities according to regional need. The global aldehyde market in 2015 was ~4.4 billion in 2015 and is expected to reach ~5.7 billion in 2022, with CAGR ~3.9% between 2016 -2022.
Aldehyde Market– Top 10 Global key Players & Their Strategy
Key players of the global high Aldehyde market are BASF SE (Germany), Huntsman Corporation (U.S), Celanese Corporation (U.S), Georgia Pacific Corporation (U.S), Gujarat Alkalies And Chemicals Limited (India), Simalin Chemicals Industries Limited (India), Eastman Chemical Company (U.S), Sinopec Corporation (China), China National Petroleum Corporation (China), Sumitomo Corporation (Japan) and others.
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Aldehyde Market – Competitive Analysis
The two most important aldehydes products that drives the market demand are formaldehyde and acetaldehyde. Formaldehyde are used in manufacture of different kinds of resins such as urea, melamine and phenol. Along with application in producing resins, it is also used in manufacturing of downstream chemicals such as 1,4- butanediol and others. The major market of aldehyde is driven by uses of formaldehyde in medical application. Acetaldehyde is also main chemical compound of aldehyde family. The main application of acetaldehyde is in production of acetic acid which also used in various end user industries. It acts as plasticizer in plastic industry and paints binder in paints & coating industry.
Aldehyde Market – Segmentation Analysis
Benzaldehyde is also another product type of aldehyde group which is used as precursor in production of chemicals such as plastic additives, pharmaceuticals and dyes. Butyraldehyde is another chemical which has tremendous industrial application. It is also used in production of downstream chemicals such as n-butanol, 2-ethylhexanol and polyvinyl butyral. With such growing application of all aldehyde family, the market for aldehyde is expected to grow at highest rate. Although with growing applications of aldehyde in end user industries, the market also face restraints owing to some of aldehyde family members are toxic in nature which causes harm to human beings as well as environment. Green or bio based aldehyde are being developed in many regions replacing and gradually providing opportunity of many players in the aldehyde market.
- Aldehyde manufacturers
- Traders and distributors of Aldehyde
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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Aldehyde Market – Regional Analysis
Geographically, Asia-Pacific region represents highest market share in the Global Aldehyde followed by Europe and North America. China being largest producer and consumer of aldehyde dominates the market segment. Rapid industrialization and huge demand from agriculture industry for urea and other agrochemicals is likely to drive the aldehyde market growth. Growing demand for dyes, detergents, and medical disinfectants in China, India, Thailand and Indonesia has boosted the aldehyde market demand. Europe is second largest market owing to production of aldehyde in plastic additives which is largely used in automobile industry.
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