Illinois, 28 May 2018(News)- Benzaldehyde is an organic aromatic chemical used in manufacturing of various chemicals, it is also used as an additive and flavouring agent in industries such as, food & beverages, and pharmaceutical industries. Benzaldehyde is one of the core raw material used in synthesis of various aroma chemicals, thus an augmented demand from the aroma chemical manufacturers across the globe is propelling the demand for benzaldehyde globally. Also, increasing use of benzaldehyde in the manufacturing of Agrochemicals such as, pesticides and herbicides is further surging the demand for benzaldehyde. Thus, the multibillion dollar Agrochemicals market with its steady growth is further adding value to the Global Benzaldehyde Market. According to MRFR analysis, the global benzaldehyde market was valued at USD 241.4 million in 2015 and is expected to be valued at USD 301.0 million by the end of 2022, expanding at a CAGR of 3.2%. Based on the benzaldehyde derivatives, benzoic acid derivatives was the dominating segment and accounted for the largest market value share of 51.0% in 2015 as compared to other derivatives, owing to the increasing consumption of benzaldehyde in the synthesis of benzoic acid. On basis of application, Aroma Chemicals accounted for largest market share in 2015, it is anticipated to be the dominating application segment throughout the forecast period. However, the application segments dominance vary regionally, due to its scope of application in the end-use industries and the prominence of the end-use industries in the different regions.
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• The Key Players in Benzaldehyde Market are Emerald Performance Materials LLC
• Gujarat Alkalies and Chemicals Limited
• Wuhan Dico Chemical Co. Ltd
• Kadillac Chemicals Pvt. Ltd
• PENTA S.R.O
• Taj Pharmaceutical Limited
• Jiangsu Jiamai Chemical Co. Ltd and others
Objectives of Global Benzaldehyde Market:
• To provide detailed analysis of the market structure along with forecast for the next 5 years for the various segments and sub-segments of the global Benzaldehyde market development and demand market
• Upcoming technologies, high growth geographies and countries were identified
• Regional and country specific demand and forecast for Benzaldehyde were studied
• Key segments covered in the report are: derivatives, process, application and region.
• For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
• Historical trend is identified to forecast and estimate the future value data
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• Benzaldehyde Market is expected to grow at compound annual growth rate of 3.2% from year 2016 to year 2022.
• Asia-Pacific will be dominating the market of Benzaldehyde throughout the forecast period.
• By derivative, benzoic acid accounts for the largest market share of 51% in the global market, followed by Benzyl Alcohol.
• By Application, Aroma Chemicals accounts for the largest market share of 33.5% in the global market, followed by Pharmaceuticals.
Regional and Country Analysis of Benzaldehyde Market:
The global Benzaldehyde market is expected to reach USD 282.7 million by the end of forecasted period i.e. 2022. Asia-Pacific has accounted the largest market share followed by Europe and North America. The Asia Pacific region offers huge growth potential for Benzaldehyde market and is slated to register the highest CAGR of 4.2% to reach USD 152 million by 2022 owing to the presence of large number of producers, cheap labor cost and growing exports.
The reports also covers country level analysis:
• North America
o United Kingdom
o Rest of Europe
• Asia – Pacific
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