The Global Acetaldehyde Market is forecast to reach USD 2.25 Billion by 2026, according to a new report by Reports and Data. Acetaldehyde, otherwise called ethanal (CH3CHO), is an organic compound in the aldehyde group. The colorless and flammable liquid has a pungent smell, and it is mainly used as vinegar in households. This compound is present in several fruits and vegetables as well as in diesel and gasoline exhausts.
The market for acetaldehyde is influenced by the rising food & beverage and chemical industries. Besides the compound have various applications in paints and coatings, pharmaceuticals and cosmetics industries. The growing demand for basic dyes and polymer resins is expected to drive the growth of acetaldehyde market.
The above-mentioned factors collectively create opportunities for the market growth while factors such as environmental and health hazards of acetaldehyde and phasing out of acetic acid production from acetaldehyde pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period.
The Asia Pacific region will be the fastest-growing region during the forecast period. Easy availability of raw material for the production of ethanol and the growing population in the region will significantly work in favor of the market. Most of the developing countries are looking at India and China as the global market. These countries consist of over 40% of the global population and applications of acetaldehyde in the region will grow at a very high rate.
Showa Denko K.K., Merck KGaA, Celanese Corporation, Eastman Chemical Company, Jubilant Life Sciences, Lonza Group Ltd., BASF SE, CNPC, Sumitomo Chemical Co. Ltd., and Ashok Alco-Chem Ltd. among others.
Further key findings from the report suggest
- The chemical produced from the oxidation of ethylene held the largest market share of 55.4% in the year 2018. The process, also known as Wacker process involves the use of a reduction-oxidation system to produce the compound. The compound has a higher reaction rate, although the chlorinated products are absent.
- The pyridine segment held the largest market share of 39.4% in the year 2018. Pyridine is used as a raw material in ethylidene diacetate ((CHâ‚ƒCOâ‚‚)â‚‚CHCHâ‚ƒ.), which is further used in the production of vinyl acetate. This is also used as a plasticizer in the plastic factory and as a paint binder in the paint factory. Furthermore, it is used as a raw material in pesticides.
- The food and beverages industry is forecasted to grow at the highest rate of 7.1% during the forecast period. This is due to the use of chemicals as a flavoring agent in various types of foods.
- The Asia Pacific region is forecasted to witness the highest CAGR of 7.4% during the forecast period. This is due to the easy availability of raw material of acetaldehyde in the region, and countries like China and India, where the manufacturing cost of acetaldehyde is quite low.
For the purpose of this report, Reports and Data have segmented into the global acetaldehyde market on the basis of process, derivatives, application, and region:
Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Ethylene Oxidation
- Ethanol Oxidation
- Ethanol Dehydrogenation
Derivatives Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Acetic Acid
- Ethyl Acetate
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Food & Beverages
- Paints & Coatings
- Plastic & Synthetic Rubber
Read More Report @ https://www.reportsanddata.com/report-detail/acetaldehyde-market