Benzaldehyde Market to Witness Considerable Growth Due to Rising Utilization in Flavoring Chemicals, Odorants, Says TMR

- Use of benzaldehyde as an intermediary while producing flavoring chemicals and odorants will invite promising growth opportunities for the global market during the forecast period

- Increasing demand from pharmaceutical, aroma chemicals, and agriculture industries will boost the growth prospects of the benzaldehyde market considerably

ALBANY, N.Y., Sept. 21, 2021 /PRNewswire/ -- The growing use of benzaldehyde in many industries due to its advantageous properties such as complete solubility in ether and alcohol and sweet smell is expected to offer substantial growth prospects to the benzaldehyde market during the forecast period of 2019-2027.

Transparency Market Research (TMR) has conducted a detailed analysis on various aspects related to the growth of the benzaldehyde market. According to TMR analysts, the global market for benzaldehyde is expected to expand at a CAGR of 3.6% during the forecast period.

The growing popularity of benzaldehyde across cosmetics and personal care industry will lead to the growth of the market. Furthermore, rise in the disposable income of individuals around the world is anticipated to contribute to the expansion of the global market. The emergence of new players in the benzaldehyde market is also likely to add to the market growth trajectory, as players would invest more in R&Dto developnew formulations, thus increasing the growth rate of the benzaldehyde market.

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Key Findings of Report:

Increasing Prominence of Artificial Cherry, Almond Flavors to Present New Avenues of Growth

Almond and cherry flavors have gained considerable popularity among the masses. Various drinks, ointments, and food products include artificial almond and cherry flavors. Benzaldehyde contains the aroma of almond and cherry. The aroma of cherry and almond is similar and hence, benzaldehyde is a common ingredient in many products that need these flavors. Thus, these aspects will have a profound impact on the growth structure of the benzaldehyde market.

FCC Grade Benzaldehyde to Witness Extensive Demand

The use of FCC grade benzaldehyde in various applications, especially in soaps and toiletries,is likely to bring exponential growth to the market. It serves as a fragrance adder in soaps and toiletries. The demand for toiletries and soaps has increased due to the rising disposable income of consumers and growing urbanization. Hence, the growth of the benzaldehyde market is expected to boost due to the heightening demand for FCC grade benzaldehyde. The aroma chemicals segment of the benzaldehyde market held a leading position in 2018 and is expected to display a similar trend between 2019 and 2027.

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Asia Pacific to Lead Benzaldehyde Market

The Asia Pacific benzaldehyde market is projected to emerge as a dominating region in terms of growth during the forecast period. Asia Pacific accounted for more than 50% share of the benzaldehyde market in 2018. Agriculture is the prime occupation in India and also practiced on a large scale in China. As the agricultural sector in these countries have a large number of stakeholders, the demand for benzaldehyde is increasing.

Furthermore, benzaldehyde is used as the main component in the production of pesticides and herbicides. Therefore, the growing demand for pesticides and herbicides is expected to drive the benzaldehyde market.

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COVID-19 Impact on Benzaldehyde Market

The COVID-19 pandemic has had a short-term impact on the benzaldehyde market due to the lockdown restrictions imposed by government bodies across the world. However, governments of numerous countries are gradually lifting the restrictions. In addition, mass vaccination drives are offering a hope of returning to pre-pandemic scenario soon. These factors will serve as growth boosters for the benzaldehyde market.

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

Global Benzaldehyde Market: Research Scope

Global Benzaldehyde Market, by End User

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

Global Benzaldehyde Market, by Region

• North America
• U.S.
• Rest of North America
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa

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Bismaleimide Monomer Market - The global bismaleimide monomer market was valued at US$ 59.3 Mn in 2020 and is expected to reach US$ 80.7 Mn by 2031, expanding at a CAGR of 2.7% during the forecast period of 2021 to 2031. Bismaleimides are compounds that possess two maleimide groups connected by nitrogen atoms. Bismaleimide monomer exists in the form of yellow tan powder. Bismaleimide-based polymers are primarily used in high temperature applications with temperatures up to 250°C. These compounds are used as crosslinking reagents in polymer chemistry. Bismaleimide monomers are often blended with reactive co-monomers such as vinyl & allyl compounds, allyl phenols, isocyanates, and aromatic amines, as these provide high toughness and flexibility. Bismaleimide monomer possesses thermal, mechanical, and dielectric properties. It also offers chemical resistance, toughness, and moisture resistance.

3-Methoxy Benzaldehyde Market - The global 3-Methoxy benzaldehyde market has been expanding significantly owing to rapid growth of the personal care products industry. Rise in demand for exotic and floral perfumes among the youth population is anticipated to drive the market. Products pertaining to women's fragrances and perfumes have dominated the market. However, substantial growth in terms of sales of men's perfumes and fragrances has also been witnessed. This has led to the emergence of several opportunities in the industry for perfumes and fragrances. 

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