Pune — India, Jan. 31, 2023 (GLOBE NEWSWIRE) — The global acetaldehyde market size was estimated at $1.53 billion in 2021. The market is projected to grow from $1.58 billion in 2022 to $1.98 billion to 2029, showing a CAGR of 3.3% during the forecast period.
This information is presented by Fortune Business Insightsin his report entitled “Acetaldehyde Market, 2022-2029.”
List of key players mentioned in the report:
- Solvay SA (Belgium)
- Eastman Chemical Company (USA)
- Jubilant Life Sciences (India)
- Sumitomo Chemical Co. Ltd. (Japan)
- Arkema (France)
- Honeywell International (USA)
- Laxmi Organic Industries Ltd. (India)
- SHOWA DENKO KK (Japan)
- Wacker Chemie AG (Germany)
- Celanese Corporation (USA)
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Scope and Segmentation of the Acetaldehyde Market Report:
|2029 Value Projection||1.98 billion US dollars|
|Acetaldehyde Market Size 2022||$1.58 billion|
|Number of pages||140|
|Covered segments||By type of product, by age group, by distribution channel, by region|
|Acetaldehyde Market Growth Drivers||Increasing demand from high income groups in favor of growth|
|Growing number of affluent population to drive market expansion|
Rising demand for basic dyes and polymer resins to promote market expansion
By application, the market is segmented into chemical synthesis, food and beverages, pharmaceuticals and cosmetics, paints and coatings, and others. The chemical synthesis segment accounted for 52.9% of the market share in 2021 due to the growing demand for basic dyes and polymer resins in the end-use industries. This will contribute to the growing demand for derivatives in the coming years.
Regionally, the global market is fragmented into North America, Europe, Asia Pacific and Rest of the World.
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The report examines the market systematically and in-depth by dividing it into segments and regions. Growth rate forecasts, market share held and revenue forecasts for each segment and region are also provided. The paper provides an in-depth analysis of leading companies in the field and the strategic moves taken by them to maximize sales and profits generated. A comprehensive section on the impact of COVID-19 is included to inform investors about the impact of the pandemic on the market.
Guides and Limiters:
Expansion of pharmaceutical and chemical industries to generate demand for products
Acetaldehyde, also known as ethanal, is used as a raw material in the production of various pharmaceuticals and chemicals. It is widely used for the production of pentaerythritol and peracetic acid. These chemicals find a wide range of applications in the chemical and pharmaceutical industries. Thus, the expansion of the chemical and pharmaceutical industries will support the growth of the global acetaldehyde market.
On the other hand, growing concerns about the toxic effects of ethanal such as irritation, headache, and dizziness have prompted governments to regulate the use of such chemicals. This will act as a challenge for companies operating in this field.
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Asia Pacific will be the leader, supported by growing demand for chemicals and food and beverages
Asia Pacific will capture the largest global acetaldehyde market share in 2021 owing to the growth of leading end-user industries. The food and chemical industries have grown rapidly in recent years due to the availability of raw materials. This, in turn, will increase the demand for ethanal and contribute to the expansion of the market.
Meanwhile, Europe is expected to witness significant expansion in the coming years due to the growing demand for products from the cosmetic and pharmaceutical industries. Growing demand for derivatives such as pyridine bases, pyridine, ethyl acetate, and acetic acid from the pharmaceuticals and paints and coatings sectors will facilitate market escalation in this region.
The Latin American market is driven by the easy availability of alternative feedstocks such as bioethanol. Bioethanol is used in the production of acetaldehyde and is found in corn and sugar cane, which are grown in significant quantities in Mexico and Brazil.
The competitive environment:
Key players announce acquisitions to increase net sales
Leading companies use several tactics to strengthen their positions in the market. One such move is the acquisition of other prominent players in the domain to expand their reach, increase product sales and enhance brand equity. Launching new products to meet consumer demands is another important strategy to generate huge revenue.
Inquiry before you buy this research report:
- Scope of the study
- Market segmentation
- research methodology
- Definitions and assumptions
- Executive summary
- Market dynamics
- Market drivers
- Market restrictions
- Market opportunities
- Key insights
- Key trends
- Insights into the regulatory scenario
- PEST analysis
- Analysis of the impact of Covid-19
- Supply chain challenges
- Steps companies have taken to mitigate the impact
- Potential opportunities due to the outbreak of COVID-19
- Global Acetaldehyde Market Analysis, Insights and Forecast, 2018-2029.
- Key Findings / Summary
- Market Analysis, Insights & Forecast – By Application (Value & Volume)
- Chemical synthesis
- Food and drinks
- Pharmaceutical products and cosmetics
- Paints and coatings
- Market Analysis, Insights & Forecast – By Region (Value & Volume)
- North America
- Asia and the Pacific
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Key industry developments:
July 2022: Sumitomo Chemical Co., Ltd. announced its decision to acquire Nativa through its subsidiary Agro Amazonia Produtos Agropecuários SA. The move will expand its geographic footprint in Brazil and help the company achieve net sales growth.
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