The rising popularity of organic and natural products is likely to propel the global benzaldehyde market.
The Benzaldehyde Market is expected to reach $282.7 Million during the forecast period at a 3.5% CAGR.
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. Most sectors, with the exception of medical supplies and life support items, had been severely hit, and benzaldehyde businesses had also been severely impacted and the growth of the market was hampered due to the reduced demand for benzaldehyde during this period.
The below report provides global market analysis for the Global Benzaldehyde Market industry (2019-2029). This report is the most consistent source market participants can use for long-term strategic planning of business development and short-term critical business decisions. The Global Benzaldehyde Market report 2019-2029 provides a comprehensive view of the Global Benzaldehyde Market, addressing the all the important and relevant topics top the market participants including manufacturers, sellers, retailers, wholesalers, investors, raw material suppliers, and others interested in the Global Benzaldehyde Market. The report covers the primary categories of the Global Benzaldehyde Market as well as the key sub-segments within the categories. Chapters focusing on latest trends, challenges, investment opportunities, drivers, risks, competitive scenario in domestic, national, and international is discussed in the report.
FCC Grade To Be In High Demand
The Global Benzaldehyde Market is classified into FCC Grade and Technical Grade on the basis of grade. Among these, the FCC grade segment experienced highest demand across the world. The use of FCC grade benzaldehyde in a variety of applications, particularly soaps and toiletries, is expected to drive market expansion exponentially. It's used in soaps and toiletries as a fragrance enhancer. Because of rising consumer disposable income and urbanisation, demand for toiletries and soaps has soared. As a result of the rising demand for FCC grade benzaldehyde, the benzaldehyde market is likely to expand.
Technical Grade Benzaldehyde is an organic molecule used as an intermediary in the synthesis of colours, flavours, and medicines. It's also utilised in the production of resins and polymers as a solvent. Both liquid and solid versions of this grade are in demand in the Global Benzaldehyde Market.
Aroma Chemicals Segment To Earn Highest Revenue
Agrochemicals, Aroma Chemicals, Cosmetics, Dyes, and Pharmaceuticals are some of the industries where benzaldehyde is used and the demand from these industries drives the growth of the Global Benzaldehyde Market. Aroma Chemicals accounted for the largest portion of the total industry, and it is predicted to continue to be the leading application sector throughout the forecast period. However, the application component predominance varies by province due to the extent of its use in end-use enterprises and the unmistakable quality of the end-use ventures in various areas. The use of benzaldehyde in agrochemicals and pharmaceuticals will rise rapidly during the analysis period.
Asia-Pacific Expected To Dominate
Asia-Pacific currently earns the highest market share and is predicted to dominate the Global Benzaldehyde Market during the analysis period due to the favourable government guidelines, the expansion of various end-user sectors, increased demand for flavour and fragrance products and a huge consumer base. Because of the major important players, Europe and North America are expected to see significant expansion in the benzaldehyde market. Furthermore, manufacturers are continually focusing on expanding their production capacity for benzaldehyde and other benzyl derivatives in order to meet rising demand, which is expected to drive the Global Benzaldehyde Market in the area to new s in the coming years.
Owing to benefits such as beneficial as aromatic aldehyde, flavouring additive, and other beneficial properties in manufacturing of products, the benzaldehyde is experiencing rapid adoption as opposed to other substitute compounds thus fostering remarkable progress in global benzaldehyde market.
The global benzaldehyde market is predicted to grow from USD 282.7 million in 2022 to about USD 338.8 million by 2029 at a Compound Annual Growth Rate (CAGR) of 3.5 percent during the forecast period 2019-2029.
The factors such as rising demand for aromatic chemicals in manufacturing industry, growing demand for benzaldehyde in pharmaceutical firms as an active compound, innovation leading to development of various application products is boosting the market value of global benzaldehyde market.
Benzaldehyde is a dull-looking synthetic chemical with a pleasant aroma that is commonly used in mixtures with other sweet-smelling synthetic drugs and as an additive. Toluene is chlorinated to produce benzaldehyde; however, due of the presence of chlorine, it is not considered safe for use in food production. As a result, benzaldehyde produced by toluene oxidation is gaining popularity across industries, particularly among food and beverage producers. Benzaldehyde is a sweet-smelling natural chemical that is used in the production of several synthetic compounds.
However, variations in crude oil prices and the volatility of raw material prices for benzaldehyde manufacturing and potential inhalation toxicity, on the other hand, are expected to stymie the global benzaldehyde market's expansion in the future years. However, the advancement of small companies resulting in competitive pricing, as well as federal restrictions governing the manufacture and use of benzaldehyde, may pose further challenges to the benzaldehyde market's growth in the near future.
But, global benzaldehyde market has grown rapidly in the recent years due to its rising demand for various chemical manufacturing, flavours, fragrance products, in the food and beverage industry and also as an active ingredient for various pharmaceutical products in the pharmaceutical industry. These factors are anticipated to be growth opportunity for the global benzaldehyde market.
The Global Benzaldehyde Market has intense competition due to the high demand and consists of several big corporations such as Lanxess, Emerald Performance Materials, Kadillac Chemicals, Shimmer Chemicals, Jiangsu Jiujiu Jiu Technology, and Jiangsu Jiamai Chemical among others.
Latest Innovations in the Global Benzaldehyde Market: A Snapshot
- In April 2021, Lanxess acquired Emerald Kalama Chemical and the essential regulatory sanctions were already in place beforehand. The transaction was completed for USD 1.04 Million in liquid funds. Emerald Kalama Chemical had secured a global sale of over USD 425 million in 2020, with pre-exceptional EBITDA of almost USD 90 million. One of the significant aspects of this acquisition was that the several key applications of Emerald Kalama Chemical were added to the Lanxess portfolio.
Benzaldehyde Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 338.8 million|
|Growth Rate||CAGR of 3.5 % during 2021-2028|
|Segment Covered||Type, Derivatives, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Benzaldehyde market are Lanxess, Emerald Performance Materials, Kadillac Chemicals, Shimmer Chemicals, Jiangsu Jiujiu Jiu Technology, and Jiangsu Jiamai Chemical among others.|
Key Segments of the Global Benzaldehyde Market
Type Overview, 2019-2029 (USD Million)
- FCC Grade
- Technical Grade
Derivatives Overview, 2019-2029 (USD Million)
- Cinnamic Acid
- Benzoic Acid
- Sodium Benzoate
- Benzyl Alcohol
Application Overview, 2019-2029 (USD Million)
- Dyes & Coatings
- Aroma Chemicals
- Food &Beverages
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa