Aldehydes Market

Aldehydes Market - Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2026
Aldehydes is an organic compound containing functional group called as formyl
group, which has numerous applications in medical disinfectant and antiseptic, food
and cosmetics among others. It is anhydrous salt, a form of sodium bicarbonate, also
called as washing soda. There are numerous types of aldehydes available such as
butyraldehyde, acetaldehyde, propionaldehyde, formaldehyde, benzaldehyde, and
others. However, there quantities are produced according to application and
utilization. In industrial applications, it is used as precursor to numerous chemicals
such as alcohols, resins, and acids.
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Aldehydes Market Dynamics
Formaldehyde is among the most common type of aldehydes and is widely used
aldehydes across the globe. It is prominently used in the manufacturing of numerous
types of resins such as melamine formaldehyde resins, urea formaldehyde resins,
and others, which is driving the global aldehydes market growth. Moreover,
formaldehyde is largely used in the downstream chemicals including 1, 4- butanediol.
Owing to its other capabilities such as inhibition of bacteria and other microbes, the
formaldehyde is used in as medical disinfectant and antiseptic.
Benzaldehyde is another common type of aldehyde widely used in production of
chemicals such as acrydine dyes, styrene, and others. It is widely used to
manufacture downstream chemicals including 2-ethylhexanol and n-butanol.
Furthermore, acetaldehyde has its applications in plastic industry as plasticizer. It is
used as paint binder in paints and coatings industry.
Excessive use of fertilizer such as urea across the globe is expected to propel
demand for aldehyde. Urea formaldehyde is used as soil fertilizers in the agriculture
industry. According to the World Bank, in 2015, fertilizer consumption increased to
94% from 89.9% in 2010.
However, some aldehyde are highly toxic, which could be harmful to environment
and human beings, which in turn is expected to restrain growth of the market.
Regional Outlook
Asia Pacific is anticipated to hold the significant market share during the forecast
period. The rising manufacturing sector coupled with the rising demand for urea from
agriculture industry particularly from emerging economy such as India is expected to
boost the aldehydes market growth. In manufacturing sector, aldehyde are widely
used in alcohol, resins, and acids. According to the India’s Brand Equity Foundation
(IBEF), in 2017, the market size of India’s manufacturing sector was US$ 347.18
billion, which increased from US$ 300.76 billion in 2012. Manufacturing sector
includes automobile, drugs & pharmaceuticals, chemicals, textile, food processing,
and others.
Key players in the Aldehydes Market
Key players operating in the market include Celanese Corporation, Georgia Pacific
Corporation, BASF SE, Huntsman Corporation, Dynea Oy, Sumitomo, CNPC,
Simalin Chemicals Industries Limited, Gujarat Alkalies and Chemicals Limited, and
Major players are adopting numerous strategies such as product launches, business
expansions, mergers & acquisitions and partnerships & collaborations to gain strong
foothold in the market. For instance, in 2018, Dynea announced completion of new
facility named Silver Formaldehyde Plant in Jubail, KSA. The unit has capability to
produce 105.00 metric ton annual capacity and is expected to deliver 55% of
formaldehyde solution.
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The research report on Aldehydes Market is segmented by Product Type, by Application and by Region - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026