Global Acetaldehyde Market 2017-2021
Acetaldehyde is mainly used as a precursor in various industries to produce chemicals such as acetic acid, acetate ester, and pyridine. Acetaldehyde is produced by various ways such as the oxidization of ethylene by the Wacker process, hydration of acetylene, oxidization of ethanol, and much more.
Acetaldehyde is generally used as a flavoring agent in foods and beverages. Along with this, it is used in medicines and paper bleaching. It is also used in water treatment, which is one of the growing applications of acetaldehyde in the current scenario.
Technavio’s analysts forecast the global acetaldehyde market to grow at a CAGR of 4.13% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global acetaldehyde market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Acetaldehyde Market 2017-2021
Technavio recognizes the following companies as the key players in the global acetaldehyde market: Ashok Alco-chem Limited, Celanese, Eastman Chemical, Lonza, and Sumitomo Chemical.
Other Prominent Vendors in the market are: China National Petroleum Corporation, Jinyimeng Group, Jubilant Life Sciences, Laxmi Organic Industries, LCY GROUP, SEKAB, ShanDong HongDa Group, SHOWA DENKO, China Petrochemical Corporation, The Pioneer Chemical Company, and Wacker Chemie.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Expectations from water treatment applications. The global water and waste water treatment market is expected to increase at a high CAGR during the forecast period. This growth is expected to be primarily driven by environmental impacts, increasing population, and climatic concerns. In this market, chemical-based water treatment accounts for the maximum share. APAC is expected to come up with more water treatment applications in the region as its population base is high. Along with this, as APAC has the presence of more than half of the total developing economies, with the existence of water-stressed regions, the demand for water treatment applications is increasing in the region.”
According to the report, one of the major drivers for this market is Growth in demand for peracetic acid. Acetaldehyde is primarily used as a precursor in the production of various chemical compounds such as peracetic acid, pentaerythritol, acetate esters, acetic acid, and acetic anhydride. As the demand for any of these products increases, the requirement for acetaldehyde goes up eventually. Among all these, the demand for acetaldehyde from the manufacturers of peracetic acid is the maximum.
Further, the report states that one of the major factors hindering the growth of this market is Threat of substitutes. Acetaldehyde is used as an important precursor in the production of commercial chemicals such as glyoxal, maleic acid, crotonaldehyde, pentaerythritol, ethanol, acetic acid, acetic anhydride, and peracetic acid. It is also used as an intermediate in the formation of dyes, pharmaceuticals, perfumes, and pesticides. However, the accessibility of better substitutes for acetaldehyde such as crude or raw materials is attracting manufacturers the most.
Ashok Alco-chem Limited, Celanese, Eastman Chemical, Lonza, and Sumitomo Chemical, China National Petroleum Corporation, Jinyimeng Group, Jubilant Life Sciences, Laxmi Organic Industries, LCY GROUP, SEKAB, ShanDong HongDa Group, SHOWA DENKO, China Petrochemical Corporation, The Pioneer Chemical Company, and Wacker Chemie.