Benzaldehyde Market: Introduction
Benzaldehyde is an aromatic compound also known as benzoic aldehyde belonging to the aldehydes functional group. Benzaldehyde is a colorless liquid with a bitter almond Odour, soluble in a number of solvents including alcohols and ethers. Its major application includes the chemical, agrochemical and food industry. Benzaldehyde is also found naturally in a number of fruits such as cherries, peach pits, apricots, and almonds. The commercially available grades of benzaldehyde includes, pure benzaldehyde and double-distilled benzaldehyde. The major use of Benzaldehyde is in organic synthesis where the key raw materials for the production of a number of aromatic & perfumery chemicals and aldehydes including cinnamic, methylcinnamic, amylcinnamic and hexylcinnamic. The two commercially available manufacturing process of Benzaldehyde include the hydrolysis of benzal chloride and air oxidation of toluene. The air oxidation of toluene process for benzaldehyde production is an energy and engineering intensive process. Majority of the global production is done via the air oxidation of toluene, however the process requires high pressure and temperature conditions and produces by-products. The higher energy requirements are not offset by raw materials which are relatively inexpensive, making it a cost intensive manufacturing costs.
Benzaldehyde Market: Dynamics
The key driving factor for the global Benzaldehyde market is the growing utilization of Benzaldehyde in flavor & fragrance. The other key industry is the agrochemical industry where Benzaldehyde is used in the production of intermediates for pesticides. The global population is on the rise and could almost double until 2050. With the available technologies, the modern agriculture feeds over seven billion. With the fast depleting non-renewable resources and climate changes, the necessity for a change in agriculture manufacturing practice rises. Increasing yield using sustainable solutions is a major challenge in the sector of agriculture. The market has experienced merger & acquisitions. DSM Special Products, BV, subsidiary of the Netherlands based DSM and manufacturer of benzoic acid, sodium benzoate, benzaldehyde and benzyl alcohol was acquired by Emerald Performance Materials, LLC. Secondly, Lanxess acquired the benzaldehyde and other derivatives manufacturing facility of Gwalior Chemicals.
Benzaldehyde Market: Segmentation
The global Benzaldehyde market is segmented on the basis of grade, end-use industry and region.
Based on the grades of benzaldehyde, the market is segmented as:
- Pure benzaldehyde
- Double-distilled benzaldehyde
Pure benzaldehyde, is suitable for use in a number of applications whereas, the double-distilled benzaldehyde is majorly used in the pharmaceutical and the flavor & fragrance industries.
Based on the end-use industry, the global Benzaldehyde market is segmented as:
- Fragrance & flavor
- Dyes & pigments
Based on region, the global Benzaldehyde market is segmented as:
- North America
- Latin America
- CIS & Russia
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
The application of Benzaldehyde in agriculture (as a pesticide additive) and fragrance & flavors is estimated to account for around 40% of the market over the forecast period owing to its wide scale applications.
Benzaldehyde Market: Regional Outlook
Based on geographies, the global Benzaldehyde market is segmented into seven regions including North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA. Among the above-mentioned countries, APEJ is estimated to account for more than 45% of global production and consumption with major producers having their manufacturing facilities in the region. The region is also anticipated to witness a medium to high growth in the global Benzaldehyde market on the back of India and China. Moreover, North America followed by Europe are projected to showcase phenomenal growth in the global Benzaldehyde market due to the lower current market penetration rates and rising awareness of sustainable agricultural practices. Middle East & Africa and Latin America account for a mere single digit market share in terms of demand.
Benzaldehyde Market: Prominent players
Prominent players for the global Benzaldehyde market are Emerald Performance Materials, Gujarat Alkalies and Chemicals Limited (GACL), Lanxess, Wuhan Youji Industries, Shimmer Chemicals Pvt. Ltd., Hubei Kelin Bolun New Materials Co., Ltd., Kadillac Chemicals Pvt. Ltd. and other key market players. The Benzaldehyde market consists of well-diversified global and regional players with the global vendors are ruling the market.
The research report presents a comprehensive assessment of the Benzaldehyde market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Benzaldehyde market report provides analysis and information, according to market segments such as geographies, application and industry.
The Benzaldehyde Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Benzaldehyde Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Benzaldehyde report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Benzaldehyde report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Benzaldehyde report also maps the qualitative impact of various market factors on market segments and geographies.
The Benzaldehyde Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
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