Ballooning Demand From Diverse Applications to Drive Growth of Benzaldehyde Market, Asia Pacific to Emerge as Largest Market Shareholder: TMR

- The demand for benzaldehyde is gaining considerable momentum across various end-users such as agriculture, pharmaceuticals, and chemicals; this aspect may bring great growth opportunities for benzaldehyde market across the forecast period of 2019-2027

- Asia Pacific may emerge as a leading growth contributor for the benzaldehyde market owing to the growing demand in agriculture and increasing sales of beauty products

ALBANY, New York, July 15, 2020 /PRNewswire/ -- The use of benzaldehyde across various applications may bring considerable growth opportunities for the benzaldehyde market across the forecast period of 2019-2027. Furthermore, supportive government initiatives and mushrooming of numerous end-use industries may propel the growth rate of the benzaldehyde market.

The analysts at Transparency Market Research (TMR) predict that the global benzaldehyde market will expand at a steady CAGR of 3.60% across the forecast period of 2019-2027. The global benzaldehyde market was valued at US$ 268.4 mn in 2018 and is extrapolated to reach a valuation of US$ 368 mn by 2027 according to TMR analysts.

The use of benzaldehyde in agrochemicals and in the manufacturing of flavors, fragrances, and dyestuffs are bringing great growth opportunities for the benzaldehyde market. Escalating demand for grooming products across a large consumer base may bring growth for the benzaldehyde market across the forecast period.

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Benzaldehyde Market: Key Findings

• The agriculture and aroma end-use segments represented more than 50% in 2018 and are predicted to observe the same rate across 2019-2027
• Based on grade categories, FCC grade benzaldehyde is forecasted to record significant growth
• Asia Pacific acquired a massive share of more than 50% in 2018 and is projected to witness the same throughout the forecast period of 2019-2027
• North America and Europe may showcase moderate growth

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Benzaldehyde Market: Promising Growth Factors

The extensive use of benzaldehyde across a plethora of endusers may bring great growth opportunities for the benzaldehyde market across the forecast period of 2019-2027.

• Benzaldehyde is used as an intermediate in pesticide manufacturing may bring good growth for the benzaldehyde market; it used in Metamitron, Fenvalerate, and Permethrin
• New product launches, mergers, acquisitions, partnerships, and joint ventures may help in strengthening the growth rate of the benzaldehyde market
• Benzaldehyde is also used as a prominent component in the production of flavoring chemicals and odorants; this aspect may bring substantial growth for the benzaldehyde market
• Flavored chemicals like cinnamaldehyde and cinnamic acid are produced by using benzaldehyde, thus bringing good growth opportunities for the benzaldehyde market

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Benzaldehyde Market: From Geographical Perspective

The global benzaldehyde market is spread across Europe, the Middle East and Africa, Latin America, Asia Pacific, and North America. Asia Pacific is envisioned to serve as a prominent growth contributor for the benzaldehyde market across the forecast period of 2019-2027. It also held more than 50% of market share in 2018. Agriculture is one of the most flourishing occupations across various Asian countries. As benzaldehyde is used on a large scale for producing agrochemicals, Asia Pacific may garner good growth. The heightened sales of beauty products may also act as a robust growth pillar.

Analyze Benzaldehyde Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Benzaldehyde Market: Competitive Scenario and Prominent Participants

The entry of new players in the benzaldehyde market may increase the competition across the benzaldehyde market. Nevertheless, key players of the benzaldehyde market either acquire these new companies or enter into collaborations. This factor results in a win-win situation where the key players as well as the new player benefit equally.

Some well-entrenched players in the benzaldehyde market are Emerald Kalama Chemical, Jiangsu Jiamai Chemical Co Ltd, Lanxess, Kadillac Chemicals Pvt. Ltd, Shenyang Huijinfengda Chemical Co Ltd, and Lianyungang Taile Chemical Industry Co Ltd.

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Global Benzaldehyde Market: Segmentation

By End User

• Aroma Chemicals
• Pharmaceuticals
• Agriculture
• Coatings
• Others (Including Dyes, etc.)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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