The report "Acetaldehyde Market by Process (Wacker Process, Oxidation of Ethanol, Dehydrogenation of Ethanol), Derivative (Pyridine & Pyridine Bases, Pentaerythritol), Application (Food & Beverage, Chemicals, Paints & Coatings), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Acetaldehyde Market is estimated at USD 1.33 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, at a CAGR of 6.24% during the forecast period The growth of the Acetaldehyde Market is primarily driven by developments in the food & beverage, paper & pulp, pharmaceutical, and water treatment applications. In addition, increasing use of acetaldehyde in derivative, such as pyridines and pentaerythritol in emerging economies are influencing the growth of the Acetaldehyde Market.
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Food & beverage: The largest application segment of the Acetaldehyde Market
The food & beverage segment is the largest application segment of the Acetaldehyde Market. Acetaldehyde is used as a flavoring agent in several food products, and is widely used in the food & beverage industry as a preservative for fruits, fish, and as a flavoring agent. It is used as an aromatic agent in several non-alcoholic beverages. Due to its disinfecting properties, acetaldehyde also finds use in food & beverage packaging applications.
Pyridine and pyridine bases: The largest derivative segment of the Acetaldehyde Market
The pyridine and pyridine bases segment is the largest derivative segment of the Acetaldehyde Market. Pyridine is produced by the reaction of acetaldehyde with ammonia. Pyridine & pyridine bases are manufactured by the reaction of acetaldehyde with ammonium acetate, where acetic acid is used as a solvent, in a refluxing tank reactor under atmospheric pressure. It is widely used as a reagent and as a solvent to manufacture chemicals. Pyridine & pyridine base derivative lead the overall Acetaldehyde Market, due to their use as scavengers and as catalysts in several reactions.
Asia Pacific: The largest market for acetaldehyde in 2016
Asia Pacific is the largest and fastest-growing region of the Acetaldehyde Market, globally. Growing industrialization in the Asia Pacific along with increasing manufacturing activities, backed by infrastructural development, has offered significant opportunities for the use of acetaldehyde in the region. The market in the region is projected to grow at the highest CAGR during the forecast period and offer significant growth opportunities. Increasing use of acetaldehyde as an important chemical intermediate in various applications, such as food & beverage, chemicals, plastics, and paints & coatings is driving the Acetaldehyde Market in the Asia Pacific.
Major players, such as Celanese (US), Eastman (US), Merck KGaA (Germany), Sumitomo (Japan), Sekab (Sweden), Showa Denko (Japan), Jubilant Life Sciences (India), Lonza (Switzerland), LCY Chemical (Taiwan), and Ashok Alco-chem (India) have adopted key growth strategies, such as expansions and acquisitions to strengthen their footholds in the Acetaldehyde Market.
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