The report "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 acetaldehyde market is estimated at USD 1.33 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, at a CAGR of 6.24% during the forecast period. The growth of the acetaldehyde market is primarily driven by developments in the food & beverage, paper & pulp, pharmaceutical, and water treatment applications. In addition, increasing use of acetaldehyde in derivative, such as pyridines and pentaerythritol in emerging economies are influencing the growth of the acetaldehyde market. Expansions and acquisitions undertaken by key market players are further fueling market growth.
Objectives of the Study:
- To analyze and forecast the size of the acetaldehyde market, in terms of value and volume
- To provide detailed information regarding key factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the acetaldehyde market
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the market
- To define, describe, and forecast the acetaldehyde market on the basis of process, derivatives, and application
- To forecast the size of market segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
- To analyze opportunities in the acetaldehyde market for stakeholders and provide a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies2
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Top Key players analyzed in this research are Major 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) have adopted key growth strategies, such as expansions and acquisitions to strengthen their footholds in the acetaldehyde market.
Food & beverage: The largest application segment of the acetaldehyde market
The food & beverage segment is the largest application segment of the acetaldehyde market. Acetaldehyde is used as a flavoring agent in several food products, and is widely used in the food & beverage industry as a preservative for fruits, fish, and as a flavoring agent. It is used as an aromatic agent in several non-alcoholic beverages. Due to its disinfecting properties, acetaldehyde also finds use in food & beverage packaging applications.
Pyridine and pyridine bases: The largest derivative segment of the acetaldehyde market
The pyridine and pyridine bases segment is the largest derivative segment of the acetaldehyde market. Pyridine is produced by the reaction of acetaldehyde with ammonia. Pyridine & pyridine bases are manufactured by the reaction of acetaldehyde with ammonium acetate, where acetic acid is used as a solvent, in a refluxing tank reactor under atmospheric pressure. It is widely used as a reagent and as a solvent to manufacture chemicals. Pyridine & pyridine base derivative lead the overall acetaldehyde market, due to their use as scavengers and as catalysts in several reactions.
Asia Pacific: The largest market for acetaldehyde in 2016
Asia Pacific is the largest and fastest-growing region of the acetaldehyde market, globally. Growing industrialization in the Asia Pacific along with increasing manufacturing activities, backed by infrastructural development, has offered significant opportunities for the use of acetaldehyde in the region. The market in the region is projected to grow at the highest CAGR during the forecast period and offer significant growth opportunities. Increasing use of acetaldehyde as an important chemical intermediate in various applications, such as food & beverage, chemicals, plastics, and paints & coatings is driving the acetaldehyde market in the Asia Pacific.
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Top-down and bottom-up approaches were used to estimate and validate the size of the acetaldehyde market and to estimate the sizes of various other dependent submarkets. The research study involved the use of secondary sources that include directories and databases, such as Hoovers, Chemical Weekly, Factiva, Bloomberg Businessweek, and articles from recognized authors to identify and collect information useful for a technical, market-oriented, and commercial study of the acetaldehyde market.
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