The War of Innovation Continues in the Flavor Industry
Benzaldehyde is the simplest aromatic aldehyde comprising of a benzene ring. It is colorless liquid at room temperature having an almond like odor. It is one of the pre-dominantly used aldehydes in the chemical industry for the manufacturing of a number of flavors & fragrances, pharmaceutical intermediates, and aniline dyes.
Flavor & Fragrances Set to Capture Significant Share
The use of benzaldehyde for application in flavor & fragrances accounted for ~30% share in 2018, and the significant growth in demand for perfumes and aroma chemicals on the back of rapid consumer inclination towards personal grooming is likely to result in increased share during the forecast period. Moreover, the market for flavors and fragrances is anticipated to cross the US $30 Billion mark before 2025.
Rooted in food & beverages, the flavor industry has been undergoing significant transformations to deliver unique taste in various products and to expand its relevance in wider industries, thereby potentially raising the demand for benzaldehyde.
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Lucrative Opportunities Abound in Agrochemical and Pharmaceutical Industries
In agrochemical industry, benzaldehyde is widely used as an intermediate in the manufacturing of pesticides such as Metamitron, Permethrin, and Fenvalerate, while it is used as a raw material in the production of Difenzoquat – a popular herbicide used to restrict the growth of wild oats in wheat & barley. Accounting for one-fifth of the total sales in 2018, the consumption of benzaldehyde by the agrochemical industry is forecast to register growth higher than that of the global average.
High application potential of benzaldehyde is also identified in pharmaceutical industry; a number of pharmaceutical intermediates such as phenylglycine, (pseudo) ephedrine, and anti-hypertensives are manufactured in the presence of benzaldehyde or uses benzaldehyde as a raw material.
In recent years, the demand for benzaldehyde has increased for the production of pseudo ephedrine which is used as sinus decongestant & stimulating agent (higher doses). Additionally, the consumption of anti-hypertensives is expected to increase with the changing lifestyles, which would subsequently increase the demand for benzaldehyde.
Asia Leads Gains in the Market, Europe to Present High Growth Opportunities
Asia will continue to be at the forefront of the benzaldehyde market, as the region houses a number of production facilities, accounting for more than half of the global capacity. The rise of middle class income group in the Asia-Pacific region is expected to further increase the consumption of benzaldehyde for flavor & fragrance products and F&B products such as ice creams, gelatin, puddings, and various types of beverages.
Europe continue to offer greater opportunities, and key players such as Emerald Performance Materials and Valtris Specialty Chemicals are continuously focusing on increasing their production capacities for benzaldehyde and other benzyl derivatives to meet the increasing demand in the region.
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The competitive landscape section in the benzaldehyde market report provides valuable information relative to key market players, their business strategies, installed production capacities, recent activities and global position.
The demand for benzaldehyde is estimated to exhibit a CAGR above the global GDP growth rate. New product launches, capacity expansions, collaborations, and merger & acquisitions have been the key growth strategies of benzaldehyde manufacturers.
Key players operating in the global benzaldehyde market include Emerald Performance Materials, LANXESS, Valtris Specialty Chemicals, Hubei Kelin Bolun New Materials Co., Ltd, Lihai Chemical Industry Co., Ltd, Gujarat Alkalies & Chemicals Ltd, KLJ Group, Kadillac Chemicals Pvt. Ltd, Wuhan Dico Chemical Co., Ltd, Axxence Aromatic GmbH, and others.
About the Report
Fact.MR published an exclusive forecast report on the benzaldehyde market for the period, 2019-2029. The foremost objective of this report on benzaldehyde market is to pitch spearhead insights on market scenario, demand generators, and technological advancements in the benzaldehyde market. The study on the benzaldehyde market also addresses key dynamics, which are expected to diversify the sales and future prominence of the benzaldehyde market.
The report on benzaldehyde market begins with an executive summary in which product definition has been provided. The report further proceeds with taxonomy of benzaldehyde market elaborating on the key segments.
It also outlines visionary insights on dynamics of benzaldehyde market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for benzaldehyde. Supply chain analysis and pricing analysis of benzaldehyde market have been included in the report to help the readers clearly understand the product framework map in benzaldehyde market.
An Adaptive Approach to Modern-day Research Needs
Additional Questions Answered
The report also provides answers to other important questions related to benzaldehyde market, such as -
- How many tons of different grades of benzaldehyde will be sold by 2029-end?
- Which segment will hold largest volume share for the benzaldehyde market?
- What will be the growth rate of benzaldehyde market in East Asia & Europe?
- Which region will hold the maximum share in the global benzaldehyde market in 2019 & 2029?
- What will be the effect of government regulations and fluctuating petro-chemical prices on benzaldehyde market?
The report offers an in-depth assessment on the benzaldehyde market, which is based on a tested & proven research methodology that involves comprehensive primary and secondary research approaches. These research methods have helped in arriving at important numbers for the benzaldehyde market. Data collected on the benzaldehyde market by these researches go through several validation funnels, examination and re-examination, prior to their inclusion in the report.
Credibility of the statistics evaluated and data acquired on the benzaldehyde market, bases itself on unique nature of Fact.MR’s research methodology, which ensures greater accuracy and provision of authentic data.
Intelligence obtained from opinion leaders and industry experts in the benzaldehyde market have been extrapolated, meanwhile the contemplation of the data has allowed analysts to develop this analytic and insightful report on the benzaldehyde market.
Key Segments Covered in Benzaldehyde Report:
On the basis of grade, the benzaldehyde market can be segmented into:
- FCC Grade
- Technical Grade
On the basis of application, the benzaldehyde market can be segmented into:
- Flavor & Fragrances
- Pharmaceutical & intermediates
- Carbonated Soft Drinks
- Fruit Juices & Other Soft Drinks
- Alcoholic Beverages (<15 ABV)
- Bakery Goods
- Confectionary & Chewing Gum
- Ice Creams, Gelatins, Puddings
- Agrochemical (Crop protection)
- Dye & coatings
On the basis of region, the benzaldehyde market can be segmented into:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
A detailed analysis of benzaldehyde market has been provided for each segment, in terms of volume (Tons) and value (US$ Mn).
Fact.MR offers a 10-year growth forecast of benzaldehyde market for the period, 2019-2029. In terms of value, the benzaldehyde market is expected to register a CAGR of over 4% during the forecast period. The main objective of the report on benzaldehyde market is to offer insights on the trends in the global market in terms of both value and volume.
The study provides several dynamics that are expected to influence the current environment and future status of the benzaldehyde market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers and other key stakeholders operating in the benzaldehyde market.
A portion of the report sheds light on the changing dynamics in the benzaldehyde market. It also discusses various factors shaping internal, as well as external, competition in the benzaldehyde market.
The benzaldehyde market shows a fair level of fragmentation with a large number of local players in the Asian region. Moreover, high demand for FCC grade benzaldehyde along with increasing use of benzaldehyde in flavor & fragrance applications are some of the factors that have pushed the focus of market players on developing required high quality grades of benzaldehyde that are compliant as per EU & FDA standards.
A section of the report showcases overall region & country-wise benzaldehyde market. The report also provides detailed market share analysis of the benzaldehyde on the basis of key manufacturers along with their installed production capacities.
It provides a market outlook for 2019–2029 and sets the forecast within the context of the report. The report elucidates on key activities & developments executed by the prominent players operating in the benzaldehyde market.
The report starts with the market overview and provides market definition and analysis about key buying factors, market background contributing to the growth, key drivers, restraints, opportunities, supply chain analysis, and key trends in the benzaldehyde market.
The next section includes global benzaldehyde market analysis, on the basis of grade, application and regional level. All the above sections evaluate the market for benzaldehyde based on various factors affecting the market and covers the present scenario and future prospects. For market data analysis, the report considers 2018 as the base year, with benzaldehyde market numbers estimated for 2019 and forecast made for 2019–2029.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the same on the basis of key parameters, such as the year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities for market players.
Another key feature of benzaldehyde market report is the analysis of all the key segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as in identifying potential resources, from a sales and delivery perspective in the benzaldehyde.
The report titled “Benzaldehyde Market” focuses on providing information regarding the volume and value of market from a global perspective. The research on benzaldehyde market was initiated through secondary research on the product, using both top-down and bottom-up approaches, right down to the country and segmental level.
The application industries’ market trends and growth projections were taken into consideration to arrive at the total size of the benzaldehyde market. In addition to the above secondary research, primary research was also carried out across the industry and other companies that deal in the adoption of various grades of benzaldehyde.
Furthermore, the yearly revenue generated from benzaldehyde manufacturing companies from each capacity were obtained from both primary and secondary sources, and then benchmarked at the regional level.
Fluctuations in annual prices over the forecast period is based on the historic market trends and expected percentage change in the upcoming years on the basis of investment, which is done on the parent market and related industry. Any decline or increase in price in the upcoming years varies as per the region.
The benzaldehyde market value, thus, deduced was once again cross verified and validated from the supply side. Fact.MR’s proprietary regression analysis forecast model has been adopted to generate the market estimation for the forecast years and takes into account the effects of macroeconomic factors impacting the overall benzaldehyde market and was further validated by the primary respondents belonging to different levels across the entire value chain of Benzaldehyde market, such as manufacturers, distributors, and end users.
Benzaldehyde Market Participants
In the final section of the benzaldehyde market report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of benzaldehyde manufacturers have also been included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the benzaldehyde market.
Key players operating in the global market for Benzaldehyde, include Emerald Performance Materials, Lanxess, Valtris Specialty Chemicals, Hubei Kelin Bolun New Materials Co., Ltd, Lihai Chemical Industry Co., Ltd, Gujarat Alkalies & Chemicals Ltd, KLJ Group, Kadillac Chemicals Pvt. Ltd, Wuhan Dico Chemical Co., Ltd, Axxence Aromatic GmbH and others.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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