Global Benzaldehyde Market was valued at USD 225.0 million in 2015 and is expected to reach USD 282.7 million by the end of 2022, expanding at a CAGR of 3.5 % from 2016 to 2022. Benzaldehyde is an aldehyde, also known as benzenecarboxy aldehyde and benzoic aldehyde. Benzaldehyde is colorless in appearance and have a pleasant odor, widely used in synthesis of various aromatic chemicals and as additives. Benzaldehyde is traditionally manufactured by the chlorination of toluene, however, it is not regarded as safe for use in food industries, due to the presence of chlorine traces. Hence, Benzaldehyde manufactured by toluene oxidation process is gaining popularity across industries, prominently among the food & beverage manufacturers. Aroma chemical industries are the prominent end-user of Benzaldehyde, followed by pharmaceutical and agrochemical industries.
Market Highlights:
The Global Benzaldehyde Market has been evaluated to be rapidly growing and is expected to grow further. . Benzaldehyde is a colorless liquid with almond fragrance as it can be extracted from cherry stone and almond using enzyme. Benzaldehyde is produced by oxidation of toluene or by treating benzal chloride with alkali. Air oxidation of toluene uses liquid phase process to extract synthetic Benzaldehyde. With increase usage of Benzaldehyde in pharmaceutical, aroma chemicals and agrochemical industries the Benzaldehyde market is growing further. Aroma chemicals have the largest share in the market. Moreover, increase in demand of cosmetics, perfumes and personal care products is expected to boost the market of aroma chemical. Agrochemical have the second largest market due to increase in demand for pesticide and herbicides in agriculture. Other industries like pharmaceuticals and dye & coating are exhibiting higher demand in coming years.
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Based on derivatives, benzoic acid has the largest market share; it is largely used in food and agriculture industry. These industries are expected to grow in further due to rise in consumption rate and growing population. Increase in demand for personal care products, perfumes and cosmetics are ultimately increasing the demand for Benzaldehyde as it adds fragrance to the above mentioned product type. Benzaldehyde also acts as stabilizer and sweetener in food industry. Wide variety usage of Benzaldehyde will increase its market in the future.
Since Benzaldehyde is used as a flavoring agent, it is best used as an aroma chemical. Food and Drug Administration (FDA) has also approved Benzaldehyde as a synthetic flavoring substance which is safe to be used in food and agrochemicals products. The growing economy of Asia-Pacific region such as India and China are adding to the growth of the Benzaldehyde market growth. Growing end-user industries, improving infrastructure and other wide usage of Benzaldehyde will further add to the growth of the Global Benzaldehyde Market. Government regulation regarding the usage of chemicals in particular industries will hamper this market. North America is expected to contribute greatly to the growth of the above mentioned market due to steady use of Benzaldehyde and saturation in various industries. In Europe the market for Benzaldehyde is expected to grow slowly due to use of certain chemicals in industries is prohibited by the government.
Test the market data and market information presented through more than 50 market data tables and figures spread over 85 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Benzaldehyde Market Research Report –Global Forecast to 2022.
Market Dynamics:
The Global Benzaldehyde Market is expected to register steady growth of 3.5% over the forecast period. The prominent factors fuelling the growth of Global Benzaldehyde Market are, rise in demand among the aromatic chemical manufacturers along with the growth in aromatic chemicals market, increasing demand for Benzaldehyde as an active pharmaceutical ingredient (API) in the pharmaceutical industries. Agrochemicals industry being one of the key consumers of Benzaldehyde in the developing markets is further expected to augment the demand for Benzaldehyde. Apart from the above mentioned factors, demand for food grade Benzaldehyde obtained from toluene oxidation process in food and beverage industry. Furthermore, consumption of Benzaldehyde in manufacturing of dyestuff, flavors and fragrances is propelling the demand for Benzaldehyde, which in turn is adding value to the Global Benzaldehyde Market. However, the crude oil price fluctuations leading to the volatility of raw material prices for Benzaldehyde manufacturing and federal regulations associated with manufacturing and consumption of Benzaldehyde, emergence of small players leading to competitive pricing are some of the restraining factors identified in the Global Benzaldehyde Market.
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