The global benzaldehyde market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each benzaldehyde market player in a comprehensive way. Further, the benzaldehyde market analysis report emphasizes the adoption pattern of the benzaldehyde across various industries.
Benzaldehyde is predominantly used as aromatic aldehyde in the manufacturing of a number flavors & fragrances, pharmaceutical intermediates, and agrochemicals. In the past few decades, there has been an increase in the production capacities of benzaldehyde and operating rates have been hovering around 70%. Rising consumer awareness in the use of halogen free compounds and stricter regulations have compelled key stakeholders to develop production routes for chlorine-free benzaldehyde. According to the Fact.MR’s new study, the global benzaldehyde market is expected to attain a CAGR of ~ 4.5% during the period, 2019 -2029.
The benzaldehyde market report highlights the following players:
- Emerald Performance Materials
- Valtris Specialty Chemicals
- Hubei Kelin Bolun New Materials Co., Ltd.
- Gujarat Alkalies & Chemicals Ltd.
The benzaldehyde market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
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Asia: The Most Promising Region for the Benzaldehyde Market
Accounting for more than half of the total global sales, Asia remains in the vanguard of benzaldehyde market. Besides, it has large production capacities spread across India & China. South Korea is one of the leading importers of benzaldehyde in the region, with imports ranging around 4,000 tons per annum mostly from India. Europe remains a key market and a major exporter of benzaldehyde, with majority of the exports originating from Belgium and Netherlands. While the market is reaching a maturity level in Western Europe, emerging demand from Central & Eastern European countries is forecast to open new avenues of growth for the manufacturers.
Consumption trends of benzaldehyde tend to vary in different regions. For instance, in Asia, agrochemicals remain a key application area for benzaldehyde, whereas in the Western countries flavors & fragrances along with agrochemicals remain the major application sectors. The flavor & fragrance industry is most likely to drive the market growth in the Central & Eastern European region. Some of the key players operating in the benzaldehyde market include Emerald Performance Materials, Lanxess, Valtris Specialty Chemicals, Hubei Kelin Bolun New Materials Co., Ltd, Lihai Chemical Industry Co., Ltd, Gujarat Alkalies & Chemicals Ltd, KLJ Group, Kadillac Chemicals Pvt. Ltd, and Wuhan Dico Chemical Co.
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These companies rely on various strategic moves such as partnership, merger & acquisition, expansion, investments etc. to strengthen their position in the market. Strategic expansion through acquisition of local and regional manufacturers remain a prime strategy followed by leading companies to increase their geographical footprint. The benzaldehyde market show a fair level of fragmentation, especially in Asia Pacific region with a large number of local players.
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