Acetaldehyde Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Acetaldehyde Market Analysis
The acetaldehyde market is expected to grow at a CAGR of over 6% during the forecast period.
The COVID-19 pandemic impacted the market negatively. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the forecast period.
- Over the short term, the major factors driving the market studied are the increasing demand in the food and beverage industry and the rising demand for pyridines in Asia-Pacific.
- On the flip side, the replacement of acetaldehyde with methanol in the production of acetic acid is the major hindrance to the acetaldehyde market.
- Asia-Pacific dominates the market and is expected to witness the fastest growth during the forecast period.
Acetaldehyde Market Trends
Increasing Demand from Food and Beverage Sector
- Acetaldehyde is known as the aldehyde of acetic acid. It is also known as ethanal, acetic aldehyde, and ethyl aldehyde. It is primarily present at low levels in some foods made through fermentation, such as milk products, soy products, canned vegetables, and non-alcoholic beverages.
- Additionally, it is also found in fruit and fruit juices. It is also used as a food flavoring agent that is further added to some pastries, fruit juices, desserts, and milk products.
- According to the United States Census Bureau, in February 2022, retail and food services sales in the United States were USD 658.1 billion, up 0.3% from the previous month and 17.6% higher than in February 2021.
- According to FoodDrinkEurope, the European Union's food and drink industry production increased by 0.6% in Q2 2022, compared to the previous quarter. In Q2 2022, the food and drink industry production index accounted for 109.5, compared to 108.9 in Q1 2022 and 106.1 in Q2 2021.
- Also, between December 2021 and January 2022, the amount of food, drinks, and tobacco made each month in the United Kingdom went up by 2.8%.
- During the forecast period, these growth factors will likely drive the market for the food and beverage industry, which in turn will drive the market for acetaldehyde.
Asia-Pacific to Dominate the Market
- Asia-Pacific was the largest market for acetaldehyde, primarily due to the robust demand from China.
- Increasing demand from the food and beverage industries for paints and coatings combined with adhesives segments is expected to drive the Asia-Pacific market studied.
- The demand for acetaldehyde is expected to grow in the food processing industry in China. China's national food industry made a total profit of CNY 618.71 billion (USD 95.88 billion) from January to December 2021, increasing by 5.5% year on year. Among them, the wine, beverage, and refined tea production businesses had a total profit of CNY 264.37 billion (USD 40.97 billion), a rise of 24.1 percent over the previous year.
- China is known for its industrialization and manufacturing sector, where paints and coatings are widely required. Some of the major sectors where paints and coatings are used in the country are automotive, industrial, and construction, among others.
- China accounts for more than one-fourth of the global coatings market. According to the China National Coatings Industry Association, the industry has been registering a growth rate of 7% through recent years.
- With the rapid growth of food start-ups, industrial giants are increasingly investing in promoting innovation across the food supply chain. For instance, Jubilant Foodworks Ltd., the operator of Domino's Pizza and Dunkin' Donuts, has started test runs of a Chinese fast-food venture, promising opportunities in the country. This growth in China's food and beverage sector is expected to create new avenues for acetaldehyde demand.
- According to Invest India, India's food processing sector is one of the largest in the world, and its output is likely to reach USD 535 billion by 2025 or 2026. Through the Ministry of Food Processing Industries (MoFPI), the government of India is engaged in various activities to boost investments in the food processing industry in the country.
- Some of the key players operating in the paints and coatings business in India are Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel India. Recently, various companies have announced their capacity expansions, which is likely to boost the demand for paints and coatings formulations in the country.
- Such factors, in turn, are likely to create promising opportunities for acetaldehyde in the country and thus in the region.
Acetaldehyde Industry Overview
The acetaldehyde market is consolidated in nature. Some of the prominent players in the market include (not in any particular manner) Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., LCY GROUP, and Merck KGaA, among others.
Acetaldehyde Market Leaders
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Celanese Corporation
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Eastman Chemical Company
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Sumitomo Chemical Co., Ltd.
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LCY GROUP
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Merck KGaA
*Disclaimer: Major Players sorted in no particular order
Acetaldehyde Market News
- September 2022 : Archit Organosys Ltd announced the expansion/diversification, and backward and forward integration at its existing factory plot located at Bhavnagar and also at Naroda Gujarat Industrial Development Corporation (GIDC), Ahmedabad, Gujarat. During the coming years, the company planned to invest around INR 60 crores (~USD 7.28 million) in products such as acetaldehyde, ethyl acetate, butyl acetate, and others. Archit Organosys Ltd has incorporated a wholly owned subsidiary namely, Archit Life Science Limited, for the production of acetaldehyde, and other chemicals.
- October 2021: Sekab is investing SEK 100 million (~USD 9.79 million) to increase the production of chemicals for industrial use made from renewable raw materials in 脰rnsk枚ldsvik, Sweden. The expanded plant is likely to be completed by the end of 2022. After expansion, the company will be able to supply even more renewable chemicals such as acetaldehyde, ethyl acetate, and acetic acid.
Acetaldehyde Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Food and Beverages Industry
4.1.2 Rising Demand for Pyridines in Asia-Pacific
4.2 Restraints
4.2.1 Replacement of Acetaldehyde by Methanol in the Production of Acetic Acid
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Derivative
5.1.1 Pyridine and Pyridine Bases
5.1.2 Pentaerythritol
5.1.3 Acetic Acid
5.1.4 Acetate Esters
5.1.5 Butylene Glycol
5.1.6 Other Derivatives (Chloral, Peracetic Acid)
5.2 End-user Industry
5.2.1 Adhesives
5.2.2 Resins
5.2.3 Food and Beverage
5.2.4 Paints and Coatings
5.2.5 Pharmaceuticals
5.2.6 Other End-user Industries (Plastic, Rubber, Paper and Fuel Additives)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Ashok Alco - chem Limited (AACL)
6.4.2 Celanese Corporation
6.4.3 Eastman Chemical Company
6.4.4 Jubilant Ingrevia Limited
6.4.5 Laxmi Organic Industries Ltd.
6.4.6 LCY GROUP
6.4.7 Lonza
6.4.8 Merck KGaA
6.4.9 Sekab
6.4.10 Sumitomo Chemical Co., Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Acetaldehyde Industry Segmentation
Acetaldehyde is a colorless chemical liquid substance. It is mainly employed as a precursor to its derivatives and other chemical compounds and is also known as ethanol. It's found in coffee, bread, and ripe fruits, as well as being generated by some plants. It is used as a raw material to make pyridine and pyridine bases, pentaerythritol, acetic acid, peracetic acid, and ethyl acetate, among other things. The acetaldehyde market is segmented based on derivatives, end-user industry, and geography. By derivatives, the market is segmented into pyridine and pyridine bases, pentaerythritol, acetic acid, acetate esters, butylene glycol, and other derivatives. By end-user industry, the market is segmented into adhesives, resins, food and beverage, paints and coatings, pharmaceuticals, and other end-user industries. The report also covers the size and forecasts for the acetaldehyde market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kiloton).
| Derivative | |
| Pyridine and Pyridine Bases | |
| Pentaerythritol | |
| Acetic Acid | |
| Acetate Esters | |
| Butylene Glycol | |
| Other Derivatives (Chloral, Peracetic Acid) |
| End-user Industry | |
| Adhesives | |
| Resins | |
| Food and Beverage | |
| Paints and Coatings | |
| Pharmaceuticals | |
| Other End-user Industries (Plastic, Rubber, Paper and Fuel Additives) |
| Geography | |||||||
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Acetaldehyde Market Research FAQs
What is the current Acetaldehyde Market size?
The Acetaldehyde Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Acetaldehyde Market?
Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., LCY GROUP and Merck KGaA are the major companies operating in the Acetaldehyde Market.
Which is the fastest growing region in Acetaldehyde Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Acetaldehyde Market?
In 2024, the Asia Pacific accounts for the largest market share in Acetaldehyde Market.
What years does this Acetaldehyde Market cover?
The report covers the Acetaldehyde Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Acetaldehyde Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Acetaldehyde Industry Report
Statistics for the 2024 Acetaldehyde market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Acetaldehyde analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
