Global Benzaldehyde Market is expected to be valued at USD 301.0 million by the end of 2022.
Global Benzaldehyde Market is expected to grow at compound annual growth rate of 3.2% from year 2016 to year 2022.
Pune, India – June 28, 2017 /MarketersMedia/ —
Introduction:
Benzaldehyde is an organic aromatic chemical used in manufacturing of various chemicals, it is also used as an additive and flavouring agent in industries such as, food & beverages, and pharmaceutical industries. Benzaldehyde is one of the core raw material used in synthesis of various aroma chemicals, thus an augmented demand from the aroma chemical manufacturers across the globe is propelling the demand for benzaldehyde globally.
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According to MRFR analysis, the global benzaldehyde market was valued at USD 241.4 million in 2015 and is expected to be valued at USD 301.0 million by the end of 2022, expanding at a CAGR of 3.2%.
Key Findings
1) Benzaldehyde Market is expected to grow at compound annual growth rate of 3.2% from year 2016 to year 2022.
2) Asia-Pacific will be dominating the market of Benzaldehyde throughout the forecast period.
3) By derivative, benzoic acid accounts for the largest market share of 51% in the global market, followed by Benzyl Alcohol.
4) By Application, Aroma Chemicals accounts for the largest market share of 33.5% in the global market, followed by Pharmaceuticals.
Key Players
The Key Players in Benzaldehyde Market are Emerald Performance Materials, LLC, Gujarat Alkalies and Chemicals Limited, LANXESS, Wuhan Dico Chemical Co. Ltd, Kadillac Chemicals Pvt. Ltd, PENTA S.R.O, Taj Pharmaceutical Limited, Jiangsu Jiamai Chemical Co. Ltd and others.
Regional and Country Analysis of Benzaldehyde Market
The global Benzaldehyde market is expected to reach USD 282.7 million by the end of forecasted period i.e. 2022. Asia-Pacific has accounted the largest market share followed by Europe and North America. The Asia Pacific region offers huge growth potential for Benzaldehyde market and is slated to register the highest CAGR of 4.2% to reach USD 152 million by 2022 owing to the presence of large number of producers, cheap labor cost and growing exports.
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