The Global Acetaldehyde Market size is expected to reach $2.6 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,180.26 Kilo Tonnes, experiencing a growth of 4.4% (2019-2022).
Pyridine is extensively used in the pharmaceutical industry as a building block for the synthesis of various drugs and pharmaceutical intermediates. Therefore, the Pyridine segment captured $219.11 million revenue in the market in 2022. Pyridine is commonly employed as a catalyst in the production of this chemical. It acts as a reaction promoter in ethanol oxidation, facilitating the conversion of ethanol into acetaldehyde. The versatility of pyridine in forming derivatives with different functional groups makes it a valuable component in drug development. As the pharmaceutical sector grows, the demand for pyridine and it remains robust. Some of the factors impacting the market are Growing pharmaceutical and healthcare sector, Expansion of textile and leather industries and Environmental impact and safety concerns.
It is utilized in the pharmaceutical industry to synthesize intermediates and active pharmaceutical ingredients (APIs). The ongoing growth in pharmaceutical research, development, and production fuels the demand for acetaldehyde. Active pharmaceutical compounds are critical components in the formulation of drugs. It is utilized to synthesize certain APIs, contributing to producing a wide range of pharmaceutical products. It can improve the color fastness of dyed textiles and the color fixation of various fabrics. The textile industry's emphasis on producing vibrant and long-lasting colors in textiles drives the demand for acetaldehyde. In the leather industry, it may be used in surface treatment processes to achieve the desired properties in the final leather product. This can include enhancing leather goods' texture, color, and overall appearance. It is used to produce polyurethane foams, which can find applications in textiles and leather, particularly in furniture and upholstery manufacturing. Expansion of textile and leather industries have been a pivotal factor in driving the growth of the market.
However, it is a volatile organic compound (VOC) associated with environmental and safety concerns. Emissions of this into the air can contribute to air pollution, and its handling and transportation require adherence to safety protocols. It is a VOC and can contribute to air pollution. Negative public perception regarding acetaldehyde's environmental and health impacts can lead to community opposition and challenges in obtaining necessary permits for expansion or new facilities. The byproducts and waste generated during its production need proper management and disposal. Regulatory requirements for waste treatment and disposal can complicate and increase the cost of the manufacturing process, affecting the overall economic viability. Environmental impact and safety concerns are a significant challenge that hampers the growth of market.
Based on application, the market is classified into food & beverage, chemicals, pharmaceuticals & cosmetics, paper & pulp, plastics & synthetic rubber, paints & coatings, and others. The paper & pulp segment procured a promising growth rate in the market in 2022. It is used in pulp bleaching, specifically in hydrogen peroxide production. Bleaching agents with hydrogen peroxide results in the production of high-quality, bright paper products. The demand for improved sizing agents in the paper industry contributes to the need for acetaldehyde. It is a key intermediate in producing cellulose acetate, used in manufacturing photographic films, coatings, and certain specialty papers. The growth in demand for cellulose acetate can drive the need for acetaldehyde.
By derivative, the market is categorized into pyridine, pyridine bases, pentaerythritol, acetic acid, acetate esters, butylene glycol, and others. The pentaerythritol segment projected a prominent growth rate in the market in 2022.Pentaerythritol is a key component in the production of alkyd resins. These resins are widely used in paint and coatings, providing durability and adhesion. The demand for alkyd resins, driven by the construction and automotive sectors, directly influences the need for this as a precursor in synthesizing pentaerythritol. These plasticizers enhance the flexibility and durability of plastics, contributing to their use in various industries such as construction, automotive, and packaging.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.7 Billion |
| Market size forecast in 2030 | USD 2.6 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.3% from 2023 to 2030 |
| Number of Pages | 358 |
| Number of Table | 670 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Derivative, Application, Region |
| Country scope |
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| Companies Included | Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., Solvay SA, Lonza Group Ltd., Arkema S.A., Merck KGAA, LCY CHEMICAL CORP., Jubilant Ingrevia Limited and Ashok Alco-chem Limited. |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The Asia Pacific region has various manufacturing industries, including chemicals, plastics, and pharmaceuticals. The ongoing process of industrialization in many Asia Pacific countries has increased the demand for chemical intermediates. Acetaldehyde, a versatile chemical, finds applications in multiple industrial processes, contributing to the growth of this in the region. The ongoing construction and infrastructure development projects in the Asia Pacific region drive the demand for acetaldehyde.
Free Valuable Insights: The Global Acetaldehyde Market size to reach USD 2.6 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., Solvay SA, Lonza Group Ltd., Arkema S.A., Merck KGAA, LCY CHEMICAL CORP., Jubilant Ingrevia Limited and Ashok Alco-chem Limited.
By Derivative (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $2.6 billion by 2030.
Growing pharmaceutical and healthcare sector are driving the Market in coming years, however, Environmental impact and safety concerns restraints the growth of the Market.
Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., Solvay SA, Lonza Group Ltd., Arkema S.A., Merck KGAA, LCY CHEMICAL CORP., Jubilant Ingrevia Limited and Ashok Alco-chem Limited.
In the year 2022, the market attained a volume of 1,180.26 Kilo Tonnes, experiencing a growth of 4.4% (2019-2022).
The Acetic Acid segment is generating the maximum revenue in the Market by Derivative in 2022; thereby, achieving a market value of $774.9 million by 2030.
The Asia Pacific region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,234 million by 2030.
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