According to ChemAnalyst report, “Acetaldehyde Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, The Acetaldehyde market has shown considerable growth in the last five years and is anticipated to achieve a healthy CAGR of 3.8% during the forecast period, 2021-2030. Rapidly growing demand for Acetaldehyde from the major end-use industries, such as chemical, food and beverages, pulp and paper, and others, is expected to boost the Acetaldehyde market in the upcoming years. Increasing demand for Acetaldehyde for the production of various commodity chemical compounds is driving the market across the globe. The harmful effects of Acetaldehyde on human health can somehow hinder market growth in the future.
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Acetaldehyde also referred to as Ethanal, is an organic chemical compound with the molecular formula CH3CHO and is produced on a large industrial scale. It is a colorless, flammable, toxic, and highly reactive liquid with a strong odor. Naturally, Acetaldehyde occurs in cheese, ripe fruit, coffee, bread, etc., and is also produced by plants. Industrial production of Ethanal is done by various methods including oxidation of ethanol, oxidation of ethylene, ethanol dehydrogenation, and others.
Global Acetaldehyde market is segmented based on end-user industry, applications, distribution channel, and region. On the basis of application, Ethanal is extensively used in the manufacturing of synthetic lubricants, building materials, and explosives, fire protection paints, drugs, sleeping aids, sedatives, vitamins, perfumes, dyes, etc. Ethanal is widely utilized in the synthesis of various chemicals such as Acetic acid, Ethylene Acetate, disinfectants, and others. It also finds its application as a preservative and flavoring agent in the food and beverages industry. The surging demand for Acetaldehyde for fruit & fish flavoring and preservation purposes is expected to provide robust market growth of Acetaldehyde in the next few years. The rising demand for basic dyes and polymer resins is likely to bolster the growth of the Acetaldehyde industry in the upcoming years. Based on different types, the market is segmented into Pyridine and Pyridine bases, Acetic acid, Acetate Esters, Ethylene Acetate, Butylene Glycol, and others. The rapidly growing demand for Ethanal for the manufacturing of acetic acid is projected to boost the Acetaldehyde market globally over the next ten years.
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Depending on various end-use industries, the Acetaldehyde market is segregated into food & beverages, automotive, chemical, pharmaceuticals, pulp & paper, and others. The food and beverages segment holds the major share in the Acetaldehyde market around the globe. The growing demand from the automotive and aviation industries will augment the Acetaldehyde market globally in the upcoming years.
According to the International Agency for Research on Cancer (IARC), Ethanal comes under the category of Group 1 carcinogen. Acute exposure to Ethanal and its vapors can cause irritation of the eyes, skin, and respiratory tract, and can potentially result in problems with brain activity, Which can further hamper the Acetaldehyde market growth in the future.
In 2020, due to the outbreak of coronavirus, the Acetaldehyde market witnessed a drastic impact across the globe. Leading authorities in emerging countries caused nationwide lockdowns and strict social distancing norms which led to the severe decline in demand for Ethanal and further caused interruptions in the global supply chain. However, the demand from end-user industries such as pharmaceuticals and food and beverages has shown significant growth in the Acetaldehyde market due to the increased demand for consumer goods in the first half of 2020.
Among different regions, the Asia Pacific region holds the largest share in the Acetaldehyde market across the globe and is expected to maintain its dominance until 2030 due to the continuously rising demand from the food and beverages industry. The growing urbanization in India and China is augmenting the demand for Ethanal for food preservation, which is likely to propel the Acetaldehyde market in the Asia Pacific region in the next few years.
Acetaldehyde Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in Acetaldehyde market include Eastman, Jubilant Life Sciences, Celanese, LCY Chemical, Merck KGaA, Sumitomo Chemical, Showa Denko, Lonza, Sekab, Ashok Alco – Chem, Laxmi Organic Industries Ltd., Naran Lala Pvt. Ltd., and Others.
“The growing demand for Acetaldehyde by the blooming food and beverages, and other end-use industries is likely to boost the Acetaldehyde market around the world in upcoming years. The increasing disposable income around the globe has led to a rise in the demand for automobiles, which is further expected to augment the Acetaldehyde market growth in the future. Emerging trends in the market regarding Acetaldehyde and its production are expected to benefit its demand around the world until 2030. The surging demand from the Chemical industry for the manufacturing of acetic acid, ethylene acetate, acetate esters, and others will propel the Acetaldehyde market in the near future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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