Global Leaders of “Aldehyde Market”
BASF SE, Huntsman Corporation, Celanese Corporation, Georgia Pacific Corporation, Gujarat Alkalies And Chemicals Limited, Simalin Chemicals Industries Limited, Eastman Chemical Company, Sinopec Corporation, China National Petroleum Corporation, Sumitomo Corporation among others are some of the prominent players at the forefront of competition in the Global Aldehyde Market and are profiled in MRFR Analysis.
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Aldehyde Market Overview:
Aldehyde are predominantly utilized in numerous end use applications such as medical disinfectants, pharmaceuticals, agrochemicals, plastic additives, soaps & detergents, and industrial applications. Aldehyde market is predicted to witness significant growth on account of their demand in numerous end use industries. Furthermore, among the product type segment acetaldehyde and formaldehyde together accounted for the largest market share due to the rising usage in pharmaceutical and agrochemicals sector.
Moreover, increasing demand for good quality food along with growing use of pesticide and insecticides has raised the consumption of agrochemical, which in turn, drive the growth of the market. Among the application segment, agrochemicals segment is estimated to witness highest growth rate owing to burgeoning demand for better quality fertilizers and limited arable land. Pharmaceutical sector is estimated to grow with steady rate due to rising disposable income along with increasing medical expenses. Moreover, rising demand for advanced technology on the production of bio based aldehyde along with rapid industrialization is further anticipated to fuel the demand for the aldehyde in the upcoming years.
Segmentation:
Aldehyde Market is majorly segmented on the basis of product type and application. Based on product type, aldehyde market is segmented into formaldehyde, acetaldehyde, butyraldehyde, benzaldehyde, propionaldehyde and others. Based on application of aldehyde, the market is segmented into pharmaceuticals, soaps & detergents, medical disinfectants, plastic additives, agrochemicals, industrial applications.
Competitive Landscapes:
The Aldehyde report has analysed the level of competition among the major manufacturers as well as sector growth and market scenario. The global aldehyde market comprises of large number of suppliers operating in the market which includes large scale and medium scale producers.
The leading manufacturers which has strong hold in the market has shifted their focus towards growth association specifically by Asia Pacific as medium level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Along with this, the key manufacturers are following various strategic plans to expand their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the key operating players in this market are increasing their manufacturing capacity of aldehyde to meet the growing demand for aldehyde across the globe.
Regions:
Geographically, Asia Pacific emerged as the largest market for Aldehyde followed by Europe and North America. The Asia Pacific aldehyde market is projected to witness tremendous growth with a significant CAGR over the forecast year on account of rapidly growing industrial base for numerous end use industries in these region. Furthermore, the demand for aldehyde is estimated to raise in various countries of Asia Pacific such as China, India, Japan, Taiwan, Singapore, Thailand, Malaysia, Australia, and South Korea owing to continuous growth of soaps & detergents sector coupled with high adoption rate from plastic additives and pharmaceutical sector.
Apart from this, massive expenditure by some of the prominent manufacturers operating in the market in their innovation and research & development activities and shifting of aldehyde manufacturing unit in this region is predicted to drive the aldehyde regional market growth. North American aldehyde market is anticipated to witness above average growth due to raising demand for aldehyde in medical disinfectant and industrial application.
In North America the market is further classified into Canada and U.S., among them U.S. accounted as the leading regional market share on account of the strong presence of big market players and is expected to retain its dominance in the regional market growth due to strong growth of medical and healthcare division. In Europe, aldehyde market is observed to register moderate growth owing to growing awareness regarding the benefits of this product as well as strong presence of various end use industries specifically in Germany, U.K., Spain, France, Italy, and Russia. In addition, numerous developing countries of Latin America and the Middle East & Africa are predicted to witness constant growth on account of rising purchasing power and strong consumer base for soaps & detergent industry.
Industry/ Innovation/ Related News:
September 2017- Emerald Kalama, a Europe based organization announced that the company started up a USD 40 Million at its site in Rotterdam, the Netherlands. With this capacity expansion, the company enhance its production capacity of Kalama hexyl cinnamic aldehyde (HCA), Kalama amyl cinnamic aldehyde (ACA), Purox B benzoic acid, and Kalama benzaldehyde. The company is increasing their footprint in aldehyde market across the globe.
June 2017- Kao Chemical announced to build a new manufacturing unit in the Philippines for hexyl cinnamic aldehyde (HCA) which is an aroma chemical in the jasmine floral scents. This plant will have the capacity of around 5,000 metric tonnes per year. This plant is expected to start production in the mid of 2018. This capacity expansion will help company to strengthen its position in global aldehyde market.
Intended Audiences:
- Aldehyde manufacturers
- Traders and distributors of Aldehyde
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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