Acetaldehyde Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Acetaldehyde Market
The global acetaldehyde market size was valued at USD 1.63 billion in 2023 and is projected to grow from USD 1.68 billion in 2024 to USD 2.18 billion by 2032, exhibiting a CAGR of 3.3% during the forecast period of 2024-2032.
The fallout of the COVID-19 pandemic was felt in the global acetaldehyde marketplace, which resulted in a crashing in consumption and production. The closure of manufacturing plants, the inefficiency of supply chains, and unimpressive customer activity among major acetaldehyde consumers reduced acetaldehyde consumption and worsened the acetaldehyde market growth.
The global marketplace of the acetaldehyde is determined by the development of grooming and medicate products, and the growing use of acetaldehyde as an intermediate into the making of numerous chemical items such as biodegradable plastics, glues, and coatings.
The chemical synthesis zone remains the primary driving force of the acetaldehyde marketplace, accounting for most demand. Acetaldehyde is a critical intermediate in manufacturing diverse chemical compounds of acetic acid, plastics, and derivatives, impeding the global rise in acetaldehyde market share. Its use as a building block in these chemical synthesis techniques ensures a regular demand, driving market increase. The chemical synthesis area's dominance is anticipated to continue, with advancements in manufacturing chemicals and plastics fueling the call for acetaldehyde.
Comprehensive Analysis of Acetaldehyde Market
The chemical business ranges a significant number of segments, among which, the acetaldehyde market has substantial industrial applications across critical industries. The manufactured chemical synthesis step is the primary force behind the business, pushed by the tremendous market shares for derivatives in pharmaceutical, textile, and introduction compounds. Food and beverage producers also employ acetaldehyde as a taste enforcer and preservative. Similarly, acetaldehyde is implemented in the cosmeceuticals and pharmaceuticals sector as an intermediate solvent. Acetaldehyde finds use in the paints and coatings market as one of the solvents and as a thinner, and alongside other functions as well. Ultimately, it can be concluded that, as a result, many of the acetaldehyde programs will increase their demand in a scarcity of different industries.
The Asia Pacific region led the medical devices market by benefitting a size of USD 1.12 billion in 2023 due to the location's rapid financial boom; the chemical and meals & liquids industries are experiencing significant growth, particularly in the Asia Pacific area.
The leading players in the acetaldehyde market significantly influence its growth trajectory and set industry standards. These key players, including Solvay SA (Belgium), Eastman Chemical Company (U.S.), Jubilant Life Sciences (India), Sumitomo Chemical Co. Ltd. (Japan), Arkema (France), Honeywell International (U.S.), Laxmi Organic Industries Ltd. (India), SHOWA DENKO K.K. (Japan), Wacker Chemie AG (Germany), and Celanese Corporation (U.S.), contribute to a competitive landscape, driving innovation and market advancement in the production of acetaldehyde and its derivatives.
In March 2021, Laxmi Organic Industries Ltd proposed the process of a big expansion of its production capacities by getting AHPL. This organization produces ethanal as well as ethyl acetate via the manufacture carried out by its subsidiary, YCPL.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 3.3% from 2024 to 2032
Unit Value (USD Billion), Volume (Kilo Tons)
Segmentation
By Application
Chemical Synthesis
Food & Beverages
Pharmaceuticals & Cosmetics
Paints & Coatings
Others
By Geography
North America (By Application, By Country)
- U.S.
- Canada
Europe (By Application, By Country)
- Germany
- U.K.
- France
- Italy
- Rest of Europe
Asia Pacific (By Application, By Country)
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
Rest of World (By Application, By Sub-Region)
- Latin America
- Middle East & Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Trends
- 4.2. Insights on Regulatory Scenario
- 4.3. PEST Analysis
- 4.4. Impact of COVID-19 on the Market
- 5. Global Acetaldehyde Market Analysis, Insights and Forecast, 2019–2032
- 5.1. Key Findings / Summary
- 5.2. By Application (Value & Volume)
- 5.2.1. Chemical Synthesis
- 5.2.2. Food & Beverages
- 5.2.3. Pharmaceuticals & Cosmetics
- 5.2.4. Paints & Coatings
- 5.2.5. Others
- 5.3. By Region (Value & Volume)
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Rest of World
- 6. North America Acetaldehyde Market Analysis, Insights and Forecast, 2019–2032
- 6.1. Key Findings / Summary
- 6.2. By Application (Value & Volume)
- 6.2.1. Chemical Synthesis
- 6.2.2. Food & Beverages
- 6.2.3. Pharmaceuticals & Cosmetics
- 6.2.4. Paints & Coatings
- 6.2.5. Others
- 6.3. By Country (Value & Volume)
- 6.3.1. U.S.
- 6.3.2. Canada
- 7. Europe Acetaldehyde Market Analysis, Insights and Forecast, 2019–2032
- 7.1. Key Findings / Summary
- 7.2. By Application (Value & Volume)
- 7.2.1. Chemical Synthesis
- 7.2.2. Food & Beverages
- 7.2.3. Pharmaceuticals & Cosmetics
- 7.2.4. Paints & Coatings
- 7.2.5. Others
- 7.3. By Country (Value & Volume)
- 7.3.1. Germany
- 7.3.2. U.K.
- 7.3.3. France
- 7.3.4. Italy
- 7.3.5. Rest of Europe
- 8. Asia Pacific Acetaldehyde Market Analysis, Insights and Forecast, 2019–2032
- 8.1. Key Findings / Summary
- 8.2. By Application (Value & Volume)
- 8.2.1. Chemical Synthesis
- 8.2.2. Food & Beverages
- 8.2.3. Pharmaceuticals & Cosmetics
- 8.2.4. Paints & Coatings
- 8.2.5. Others
- 8.3. By Country (Value & Volume)
- 8.3.1. China
- 8.3.2. India
- 8.3.3. Japan
- 8.3.4. ASEAN
- 8.3.5. Rest of Asia Pacific
- 9. Rest of World Acetaldehyde Market Analysis, Insights and Forecast, 2019–2032
- 9.1. Key Findings / Summary
- 9.2. By Application (Value & Volume)
- 9.2.1. Chemical Synthesis
- 9.2.2. Food & Beverages
- 9.2.3. Pharmaceuticals & Cosmetics
- 9.2.4. Paints & Coatings
- 9.2.5. Others
- 9.3. By Sub-Region (Value & Volume)
- 9.3.1. Latin America
- 9.3.2. Middle East & Africa
- 10. Company Profiles
- 10.1. Solvay SA
- 10.1.1. Overview
- 10.1.2. Products & Services
- 10.1.3. Recent Developments
- 10.1.4. Strategies
- 10.1.5. Financials (based on availability)
- 10.2. Eastman Chemical Synthesis Company
- 10.2.1. Overview
- 10.2.2. Products & Services
- 10.2.3. Recent Developments
- 10.2.4. Strategies
- 10.2.5. Financials (based on availability)
- 10.3. Jubilant Life Sciences
- 10.3.1. Overview
- 10.3.2. Products & Services
- 10.3.3. Recent Developments
- 10.3.4. Strategies
- 10.3.5. Financials (based on availability)
- 10.4. Sumitomo Chemical Co. Ltd.
- 10.4.1. Overview
- 10.4.2. Products & Services
- 10.4.3. Recent Developments
- 10.4.4. Strategies
- 10.4.5. Financials (based on availability)
- 10.5. Arkema
- 10.5.1. Overview
- 10.5.2. Products & Services
- 10.5.3. Recent Developments
- 10.5.4. Strategies
- 10.5.5. Financials (based on availability)
- 10.6. Honeywell International
- 10.6.1. Overview
- 10.6.2. Products & Services
- 10.6.3. Recent Developments
- 10.6.4. Strategies
- 10.6.5. Financials (based on availability)
- 10.7. Laxmi Organic Industries Ltd.
- 10.7.1. Overview
- 10.7.2. Products & Services
- 10.7.3. Recent Developments
- 10.7.4. Strategies
- 10.7.5. Financials (based on availability)
- 10.8. SHOWA DENKO K.K.
- 10.8.1. Overview
- 10.8.2. Products & Services
- 10.8.3. Recent Developments
- 10.8.4. Strategies
- 10.8.5. Financials (based on availability)
- 10.9. Wacker Chemie AG
- 10.9.1. Overview
- 10.9.2. Products & Services
- 10.9.3. Recent Developments
- 10.9.4. Strategies
- 10.9.5. Financials (based on availability)
- 10.10. Celanese Corporation
- 10.10.1. Overview
- 10.10.2. Products & Services
- 10.10.3. Recent Developments
- 10.10.4. Strategies
- 10.10.5. Financials (based on availability)
- 11. Strategic Recommendations
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