The acetaldehyde market was valued at US$ 1,329.4 Mn in 2018 and is projected to reach US$ 2,367.0 Mn by 2027; it is expected to grow at a CAGR of 6.7% from 2020 to 2027.
Acetaldehyde is defined as an aldehyde, formed from acetic acid by the significant reduction of the carboxy group. Acetaldehyde is a chemical which acts as an intermediate in synthesizing other chemicals. Rising demand of acetaldehyde for diverse applications such as chemicals, food & beverage, paints & coatings, pharmaceuticals & cosmetics, and others is expected to proliferate the growth of the acetaldehyde market.
In 2018, Asia Pacific held the largest share of the global acetaldehyde market. The dominance of the acetaldehyde market in this region is primarily attributable to the presence of strong industrial base with prominent manufactures significantly contributing to market growth. Countries like Japan, India, China, South Korea, have large manufacturing industries in a diverse sector which plastics & synthetic rubber, food & beverage, paints & coatings, pharmaceuticals & cosmetics, and paper & pulp. Further, the easy accessibility and availability of raw materials coupled with cheap labor and low production cost are yet another factor that bode well the market demand in the region
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns, travel bans, and business shutdowns. The chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the activities in the chemical & materials industry, which are restraining the growth of various markets related to this industry.
The ongoing COVID-19 pandemic has altered the status of the acetaldehyde industry. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, thereby, impacting the demand for acetaldehyde. However as the economies are planning to revive their operations, the demand for acetaldehyde is expected to rise globally in the coming months. Moreover, the rising demand for acetaldehyde in production of disinfectants may propel its demand in pandemic times. Further, significant investments by prominent companies in the development of advanced products is, yet, another factor supporting the market growth
Geographic Overview of Acetaldehyde Market
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Market Insights
Increasing use of acetaldehyde as intermediate in synthesis of derivatives such as pyridines and pentaerythritol
Several types of acetaldehyde-based derivatives are produced to suit the requirement of various industries. These derivatives include pyridine and pyridine bases, pentaerythritol, acetic acid, and ethyl acetate. Amongst which, pyridines and pentaerythritol derivatives are significantly demanded across several end uses over the past few years. For instance, pyridine finds applications in the manufacturing of food additives and agrochemicals including herbicides, pesticides, and insecticides. Also, pyridine also acts as a intermediate raw material in production of ethylidene diacetate, which is further used in vinyl acetate production. Also, pentaerythritol-based resin esters are widely used in a variety of products, including paints, varnishes, lacquers, printing inks, floor coverings, and adhesives. Thus, the growing demand for pyridine and pentaerythritol propels the demand for acetaldehyde globally.
Process Insights
The global acetaldehyde market, by process, is segmented into oxidation of ethylene, oxidation of ethanol, dehydrogenation of ethanol, and others. The oxidation of ethylene segment led the market with the largest share in 2018. The process of oxidation of ethylene to form acetaldehyde is also known as the Wacker-Hoechst reaction. This process is an essential intermediate of the aliphatic organic chemical industry that has now developed to a commercial process which was earlier operated in most of the industrialized countries. The Wacker process has become a model process of homogeneous catalysis. This is known to be an exothermic catalytic direct oxidation reaction that involves the use of palladium (II) (PdCl2) chloride and copper (II) chloride (CuCl2) as two-component system catalysis.
Derivatives Insights
The global acetaldehyde market, by derivative, is segmented into pyridine and pyridine bases, pentaerythritol, acetic acid, and others. The pyridine and pyridine bases segment led the market with the largest share in 2018. The demand for pyridines and pentaerythritol derivatives is rising over the past few years owing to increasing application base of the compound in manufacturing of food additives and agrochemicals. Further, pyridines are considered as an ideal raw material to be used diversified end uses such as medicines, vitamins, food flavors, rubber products, insecticides, among others. Additionally, it also acts as a plasticizer in manufacturing of plastic industry and as a paint binder in the paint industry.
Application Insights
Based on application, the global acetaldehyde market has been segmented into chemicals, plastics & synthetic rubber, food & beverages, paints & coatings, pharmaceutical & cosmetics, paper & pulp, and others. The paints & coatings segment is expected to register fastest growth in global acetaldehyde market during the forecasted period. Acetaldehyde is significantly used as a raw material in paints and coatings industry that are used in the composition of binders. Stable performance and mechanical strength are some of the added advantages of phenolic resins that are prepared using acetaldehyde in the paints and coatings.
Acetaldehyde Market, by Application – 2018 and 2027
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Acetaldehyde Market: Strategic Insights
Market Size Value in US$ 1,329.4 Million in 2018 Market Size Value by US$ 2,367.0 Million by 2027 Growth rate CAGR of 6.7% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Acetaldehyde Market: Strategic Insights
| Market Size Value in | US$ 1,329.4 Million in 2018 |
| Market Size Value by | US$ 2,367.0 Million by 2027 |
| Growth rate | CAGR of 6.7% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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A few key players operating in the global acetaldehyde market are Celanese Corporation; Eastman Chemical Company; Jubilant Life Sciences Limited; Merck KGaA; and Sumitomo Chemical Co., Ltd. Major market players are focused on strategies such as mergers and acquisitions, and product launches to increase their geographical presence and consumer base globally.
Report Spotlights
- Progressive industry trends in the global acetaldehyde market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2028
- Estimation of the demand for acetaldehyde across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for acetaldehyde
- Market trends and outlook coupled with factors driving and restraining the growth of the acetaldehyde market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global acetaldehyde market growth
- acetaldehyde market size at various nodes of market
- Detailed overview and segmentation of the global Acetaldehyde market as well as its dynamics in the industry
- acetaldehyde market size in various regions with promising growth opportunities
Acetaldehyde Market, by Insect Type
- Oxidation of Ethylene
- Oxidation of Ethanol
- Dehydrogenation of Ethanol
- Others
Acetaldehyde Market, by Derivative
- Pyridine and Pyridine Bases
- Pentaerythritol
- Acetic Acid
- Others
Acetaldehyde Market, by Application
- Chemicals
- Plastics & Synthetic Rubber
- Food & Beverages
- Pharmaceutical & Cosmetics
- Paper & Pulp
- Others
Company Profiles
- Godrej Consumer Products Limited
- Liphatech, Inc.
- Neogen Corporation
- SC Johnson & Son, Inc.
- Spectrum Brands, Inc.
- Reckitt Benckiser Group plc
- Jyothy Laboratories Ltd.
- Sumitomo Chemical Co., Ltd.
- Bayer AG
- Medella Laboratories
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Process , Derivative , Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies
- 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
- Sumitomo Chemical Co., Ltd.
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- Data Analysis:
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