Benzaldehyde Market – Global Industry Analysis and Forecast (2023-2029)

Benzaldehyde Market is expected to grow at a CAGR of 3.58% during the forecast period and is expected to reach US$ 362.53 Mn by 2029.
Benzaldehyde Market Overview:
Hereafter, benzaldehyde manufactured by toluene oxidation process is gaining popularity across industries, prominently among the food & beverage manufacturers. Aroma chemical industries are the prominent end-user of benzaldehyde, followed by pharmaceutical and agrochemical industries.To know about the Research Methodology :- Request Free Sample Report
Benzaldehyde Market Dynamics:
Socio-economic development across the developing economies is a key factor that is expected to drive the growth of the global benzaldehyde market. This is expected to result in increased purchasing power, thereby driving the demand from end-use industries, for example, food and beverage, and personal care. The use of the compound in these industries for the production of fragrances and as a flavoring agent is expected to increase its application rate.

Moreover, the increasing application of its derivatives, like sodium benzoate, benzoic acid, benzyl alcohol, and cinnamic acid is expected to drive the benzaldehyde market. These products have wide applications in agrochemicals, pharmaceuticals, paints, inks, lacquers, waxes, dyes, food and beverages, and coatings. Besides, benzoic acid is used as a precursor for the industrial synthesis of organic substances.

The demand for the compound for the production of cellulose acetates, resins, oils, cellulose ethers, and nitrates is creating abundant growth opportunities for the manufacturers of the compound and its derivatives. This, in order, is expected to positively impact the growth of the global benzaldehyde market.

However, crude oil is a primary raw material for the production of benzaldehyde. And so, volatility in crude oil prices is a key factor hindering the demand for benzaldehyde. On account of the reduction in crude oil prices in the future, there has been a significant decline in revenue from benzaldehyde. One more market challenge faced by players of the global benzaldehyde industry is the regulatory issues.
Benzaldehyde Market Segmentation:
According to the product type, the technical grade is an adaptable chemical used in the production of flavoring chemicals, perfumes, dyes, and pharmaceuticals while the FCC grade is majorly used for several fragrances in toiletries and soaps.

In terms of the application, the aroma chemical sector is the main end-user segment and accounts for the largest part of the global market share. Thanks to the unique product properties, like artificial almond and cherry flavors, the aroma chemicals segment will witness major growth. Furthermore, in the manufacture of certain unique fragrances and flavors, for instance, cinnamaldehyde and cinnamic acid, it is used as a primary element therefore, augmenting the benzaldehyde market demand.

Region-wise, Asia-Pacific held the largest market share of the global market and is expected to continue its dominance in the future, on account of the booming agriculture industry and high sales of beauty products. Furthermore, North American and European markets for Benzaldehyde are expected to witness moderate growth, while the Middle East and Africa is estimated to bear a slow growth in the future.

The objective of the report is to present a comprehensive analysis of the Global Benzaldehyde Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Benzaldehyde Market dynamics, structure by analyzing the market segments and project the Global Benzaldehyde Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Benzaldehyde Market make the report investor’s guide.
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Benzaldehyde Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 283.40 Mn.


Forecast Period 2023 to 2029 CAGR:
3.58%
Market Size in 2029:
US $ 362.53 Mn.


 Segments Covered:
by Product Type
FCC Grade
Technical Grade


by Application
Dyes
Agrochemicals
Aroma Chemicals
Pharmaceuticals
Cosmetics


by End User
Benzyl Acetate
Benzoate
Chloride
Salicylate
Benzaldehyde
Cinnamyl
Vanillin



Benzaldehyde Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Benzaldehyde Market Key Players:
1. Lanxess
2. Kadillac Chemicals Pvt. Ltd.
3. Haihang Industry Co., Ltd.
4. Gujarat Alkalies And Chemicals Limited
5. Danyang Wanlong Chemical Co.
6. Emerald Kalama Chemical
7. Merck KGaA
8. Taile Chemical Industry, Co. Ltd
9. Shimmer Chemicals Pvt. Ltd.
10. Nantong Tianshi Chemical Co., Ltd.
11. Emerald Performance Materials, LLC
12. Chematek S.p.A.
13. Wuhan Dico Chemical Co., Ltd.
14. Shenyang Huijinfengda Chemical Co., Ltd.
15. Jiangsu Jiamai Chemical Co., Ltd.
16. Penta S.R.O
17. Taj Pharmaceutical Limited
18. Valtris Specialty Chemicals
19. Hubei Kelin Bolun New Materials Co., Ltd
20. Lihai Chemical Industry Co., Ltd
21. Kadillac Chemicals Pvt. Ltd
22. Axxence Aromatic GmbH

Frequently Asked Questions:

1. Which region has the largest share in Global Benzaldehyde Market?
Ans: Asia-Pacific region held the highest share in 2022.

2. What is the growth rate of Global Benzaldehyde Market?
Ans: The Global Benzaldehyde Market is growing at a CAGR of 3.58% during forecasting period 2023-2029.

3. What is scope of the Global Benzaldehyde market report?
Ans: Global Benzaldehyde Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Benzaldehyde market?
Ans: The important key players in the Global Benzaldehyde Market are – Lanxess, Kadillac Chemicals Pvt. Ltd., Haihang Industry Co., Ltd., Gujarat Alkalies And Chemicals Limited, Danyang Wanlong Chemical Co., Emerald Kalama Chemical, Merck KGaA, Taile Chemical Industry,

5. What is the study period of this market?
Ans: The Global Benzaldehyde Market is studied from 2022 to 2029.