Acetaldehyde Market by Process (Wacker Process, Oxidation of Ethanol, Dehydrogenation of Ethanol), Derivative (Pyridine & Pyridine Bases, Pentaerythritol), Application (Food & Beverage, Chemicals, Paints & Coatings), and Region - Global Forecast to 2022
The rising use of acetaldehyde in the food & beverage, chemical manufacture, plastics, and paint industries; and high growth in emerging countries drive the acetaldehyde market.
The acetaldehyde market is estimated at USD 1.33 billion in 2017 and is expected to reach USD 1.80 billion by 2022, at a CAGR of 6.24% between 2017 and 2022. Acetaldehyde, also known as ethanal, is an aldehyde used as a starting material in the production of pyridines, ethyl acetate, n-butyl alcohol, and other chemical compounds. Pure acetaldehyde is a colorless, flammable liquid, miscible with water, with a pungent and fruity odor. Acetaldehyde is synthesized naturally and is also produced synthetically on a large scale for various commercial applications and as an important chemical intermediate. The demand for acetaldehyde is growing in emerging economies, such as India, China, and Brazil. Acetaldehyde is mainly used as an intermediate for the synthesis of other chemicals. The major derivatives of acetaldehyde are pentaerythritol, which is used in the manufacture of synthetic resins for the paint industry; and pyridines which are used as solvents in the production of rubber and dyes.
Water treatment segment is projected to grow at the highest CAGR in the acetaldehyde market
Based on application, the water treatment segment is projected to grow at the highest CAGR from 2017 to 2022. Acetaldehyde plays a vital role in wastewater treatment owing to its disinfectant properties. Acetaldehyde is used for the treatment of wastewater from various industries and manufacturing plants. The demand for acetaldehyde from the water treatment application is gaining momentum due to rising environmental impact, such as degradation of freshwater bodies and aquatic life by untreated wastewater, increasing population, and concerns about pollution.
Rising demand for acetaldehyde in the Asia Pacific is driving the acetaldehyde market
The acetaldehyde market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, which can be attributed to the easy availability of raw materials used for the manufacture of acetaldehyde. The Asia Pacific is a strategic location for acetaldehyde manufacturers, as an overall slowdown in the global economic scenario has encouraged many established manufacturers to expand their manufacturing facilities in this region and, thus, increase their sales. The growth of the Asia Pacific market is expected to be primarily driven by China, India, and Japan. Key manufacturers of acetaldehyde are focusing on expanding their bases in the Asia Pacific region to increase their market shares and enhance profit margins.
The breakdown of primary interviews is given below.
• By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
• By Designation: C-Level Executives - 54%, Directors - 31%, and Others - 15%
• By Region: North America - 23%, Europe - 31%, Asia Pacific - 38%, South America – 5%, and Middle East & Africa – 3%
The report provides company profiles and details of competitive strategies adopted by key market players, such as Celanese (US), Eastman (US), Merck KGaA (Germany), Sumitomo (Japan), Sekab (Sweden), Showa Denko (Japan), Jubilant Life Sciences (India), Lonza (Switzerland), LCY Chemical (Taiwan), and Ashok Alco-chem (India).
The acetaldehyde market has been segmented on the basis of process, derivative, application, and region. The report covers the acetaldehyde market, in terms of value and volume, and forecasts its market size till 2022. It also provides company profiles and details of competitive strategies adopted by key players operating in the acetaldehyde market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. The report segments the acetaldehyde market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, opportunities, and challenges.
3. The report helps stakeholders understand their competitors and gain additional insights into the business. The competitive landscape section includes expansions, new product launches, partnerships & collaborations, and mergers & acquisitions.