This research report titled ‘Global Acetaldehyde Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global acetaldehyde market is expected to grow significantly during the forecast period because of its high demand from the food and beverage industries. Geographically, the demand for acetaldehyde from APAC is expected to be the highest among all the regions because of the huge consumption base, especially in countries like China and India. Along with this, the growth in the consumption of pyridines is expected to drive the overall market shortly.
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Technavio’s chemicals and materials research analysts categorize the global acetaldehyde market into the following segments by product. They are:
- Acetic acid
- Acetate esters
- Acetic anhydride
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The top three revenue-generating product segments of the global acetaldehyde market are discussed below:
Pyridine is produced when formaldehyde or acetaldehyde are reacted with ammonia. It is generally used as a solvent and a reagent. Currently, it is used as a precursor in various agrochemical and pharmaceutical products. Thus, with the advancement of pharmaceutical industry and biocatalysis processes, the demand for pyridine will increase.
According to Kurva Samba Sivudu, a lead specialty chemicals research analyst from Technavio, “Pyridine is used in the electronics and semiconductor industries to some extent. Acetaldehyde is preferred by manufacturers of pyridine because it is inexpensive and widely available. Thus, with the growth of the pyridine market, the expansion of acetaldehyde market is also expected to grow in the next five years.”
Pentaerythritol is an organic compound, which is white, crystalline, and water soluble. It is formed by the condensation of acetaldehyde with formaldehyde. This makes acetaldehyde an important raw material in the manufacturing of pentaerythritol. Pentaerythritol is used in various products such as alkyd resins, rosin esters, synthetic lubricants, antioxidants, and explosives.
“The application field of pentaerythritol is expanding. Recently it is being used in applications like marine coatings and therapeutics. This is expected to increase the applications for acetaldehyde in the global market. As pentaerythritol is eco-friendly, its use is encouraged by several governments across the globe, which is propelling its demand in many application areas,” adds Kurva.
Acetic acid is an organic compound, which is used as a reagent to produce various compounds such as vinyl acetate monomers and esters. Acetic acid is formed from methanol through the carboxylation process. Other than this, it is also formed by the oxidation of acetaldehyde.
Acetic acid is used in the medical treatment of diseases that occur from tumor such as cancer. In the form of vinegar, it finds application in foods and beverages. Thus, being one of the preferred raw materials in the formation of acetic acid, the demand for acetaldehyde will accelerate with the increasing use of acetic acid during the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Ashok Alco-chem Limited
- Eastman Chemical
- Sumitomo Chemical
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