The Acetaldehyde Market is projected to reach USD 1.80 billion by 2022, at a CAGR of 6.24% from 2017 to 2022. Acetaldehyde, also known as ethanal is an aldehyde used as a preliminary material for the production of various derivatives, such as acetic acid, pyridine & pyridine bases, pentaerythritol, ethyl acetate, and other chemical compounds. Acetaldehyde finds use in a wide range of applications, such as chemicals, plastics & synthetic rubber, food & beverage, paints & coatings, pharmaceuticals & cosmetics, paper & pulp, water treatment, and others.
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The food & beverage application is projected to lead the acetaldehyde market between 2017 and 2022, in terms of value. The use of acetaldehyde in the food & beverage industry as a preservative for fruits, fish, and as a flavoring agent, is expected to drive this application. The water treatment application is projected to grow at the highest CAGR in terms of value, between 2017 and 2022. This is due to the rising demand for acetaldehyde from the water treatment application as a result of the rising environmental impact of untreated water on freshwater bodies and aquatic life.
The rising use of acetaldehyde in the food & beverage, chemical manufacturing, plastics, and paint industries; and high growth in emerging countries are driving the acetaldehyde market. The markets in the Asia Pacific, Middle East & Africa, and South America are witnessing high growth, and the trend is projected to continue in the coming years. This growth is mainly driven by the chemical, food & beverage, plastic & rubber, paints & coatings, and water treatment industries. The major challenge for manufacturers is the environmental and health hazards of acetaldehyde.
Asia Pacific is projected to lead the acetaldehyde market, in terms of value and volume, during the forecast period. Countries in this region, such as China, Japan, and India, are witnessing increasing adoption of acetaldehyde for various end-use applications.
Emerging countries in the Asia Pacific and Latin American are witnessing an increasing demand for water treatment, thereby contributing to the growth of the acetaldehyde market in these regions. Among all countries in the Asia Pacific region, China is one of the principal manufacturers of acetaldehyde, accounting for a major share of the acetaldehyde market.
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Acetaldehyde is a highly reactive chemical and is used as an important intermediate for the manufacture of plasticizers, resins, solvents, and dyes. Acetaldehyde finds use in a wide range of applications, such as chemicals, plastics & synthetic rubber, food & beverage, paints & coatings, pharmaceuticals & cosmetics, paper & pulp, water treatment, and others.
Key players in the acetaldehyde market are using innovative technologies to manufacture high-quality derivatives as per the specified requirements of end-use applications.