Benzaldehyde Market Size, Share, Revenue, CAGR Value and Forecast 2019-2027

October 14 01:07 2021
Benzaldehyde Market Size, Share, Revenue, CAGR Value and Forecast 2019-2027

Products in the global benzaldehyde market, benzaldehyde is an organic compound that is utilized for the synthesis of other organic compounds such as flavors and fragrances, drug intermediaries, coatings and dyes, and agrochemicals. Rising demand from aroma chemical, pharmaceuticals, and agricultural industries are stimulating high growth in the global benzaldehyde market. Steady demand for benzaldehyde can be attributed to the rising requirements for agricultural products like herbicides and pesticides from countries such as China and India.

Two types of grade categories in the global benzaldehyde market include technical grade benzaldehyde and food chemical codex or FFC grade benzaldehyde. FFC grade benzaldehyde products in the global benzaldehyde market are most commonly used to offer fragrances to personal care and hygiene products such as soaps and toiletries. It is most prominently used to produce an artificial fragrance and flavor of almond and cherry. On the other hand, technical grade benzaldehyde products in the global benzaldehyde market are commonly used as an intermediary agent during the manufacturing processes of flavoring chemicals and odorants.

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Rising Demand for Artificial Production of Almond and Cherry Flavors Boosts Benzaldehyde Market

Most prominent end use industries utilizing the products in the global benzaldehyde market include aroma chemicals, agriculture, dyes, pharmaceuticals, and coatings industries. Advancements in the area of chemical manufacturing and chemical discharge have been augmenting the development of the global benzaldehyde market in recent times. Chemical industry is anticipate to offer various attractive opportunities for the players in global benzaldehyde market.

Rising usage of benzaldehyde for producing almond and cherry flavors artificially is bolstering the development of the global benzaldehyde market. They are also used to produce flavored chemicals like cinnamic acid and cinnamaldehyde. This, coupled with rising usage of benzaldehyde in the production of various herbicides and pesticides is supplementing the growth of the global benzaldehyde market. However, fluctuating prices of crude oil can adversely impact the global benzaldehyde market in coming years. Another major restraint faced by the players and manufacturers operating within the global benzaldehyde market is stringent regulatory issues. Usage of benzaldehyde is considered safe as food flavoring agent yet there are set limitations for its utilization.

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Asia Pacific to Dominate Benzaldehyde Market in Coming Years

Key regions assessed in the report on global benzaldehyde market are North America, Asia Pacific, Middle East and Africa, Europe, and Latin America. Asia Pacific region is anticipated to dominate the global benzaldehyde market in coming years, owing to high sales of cosmetic and beauty products and the region’s flourishing agricultural industry. Other notable factors stimulating high growth in the Asia Pacific benzaldehyde market include rise in disposable income and rising regional population. Europe and North America regions are expected to witness moderate growth in the global benzaldehyde market in coming years, whereas Middle East and Africa region is anticipated to witness slow growth in the near future.

Benzaldehyde Market Anticipated to Witness Entry of New Players in the Near Future

Few of the well-trenched players functioning within the global benzaldehyde market include Lanxess AG, Shenyang Huijinfergda Chemical Co., Ltd., Jiangsu Jiamai Chemical Co., Ltd., Kadillac Chemicals Pvt. Ltd., Emerald Kalama Chemical, and Lianyungang Taile Chemical Industry Co., Ltd. Acquisition of smaller vendors in the global benzaldehyde market has caused the consolidation of the market position of the leading players. It is anticipated that the prominent industry players in the global benzaldehyde market would enter into investment deals with various international stakeholders. In coming years, global benzaldehyde market is expected to witness entry of various amateur players in the industry. It is expected that the ability of industry players to retain leading position with chemical research and development would highly redefine the market’s growth graph.

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