Acetaldehyde Market Size, Share & Trends Analysis Report By Derivative (Pyridine Bases, Butylene Glycol, Acetic Acid), By Application (Food & Beverage, Chemicals, Paper & Pulp), By Region, And Segment Forecasts, 2023 - 2030

Acetaldehyde Market Size & Trends

The globalacetaldehyde market size was estimated at USD 2.01 billion in 2022and is expected to grow at a compound annual growth rate (CAGR) of 5.4% in terms of revenue from 2023 to 2030. This is attributed to the wide product usage in the production of several downstream chemicals, such asacetic acid, ethyl acetate, acetic anhydride, 1,3-butadiene, and chloral. Factors, such as high demand for pyridine & pyridine bases, in the developing regions and growth of various end-use industries are anticipated to drive the product demand over the forecast period. However, the rising adoption of methanol as a substitute to acetaldehyde (CH3CHO) in the production of acetic acid is likely to act as a restraining factor for the market.

Acetaldehyde is majorly used in the production of downstream chemicals, such as acetic acid, acetic anhydride, chloral, 1,3-butadiene, andethyl acetate. It is also used for producing drugs and dyes. It can be produced using various production processes and raw material variations. However, ethylene is a major source of production of the product globally. The COVID-19 pandemic impacted the global market in 2020 due to the closure of several major plants and facilities across various regions. Reduction in the product manufacturing as well as consumption hampered the market growth. Moreover, the market was affected due to disrupted supply chains and cross-border travel restrictions.

然而,制药工业的快速增长ry during the pandemic generated product demand from the pharmaceuticals application. Acetaldehyde is commonly referred to as the aldehyde form of acetic acid and has alternative names including acetic aldehyde, ethanal, and ethyl aldehyde. While it is naturally present in small quantities in certain fermented foods, such as soy products, milk products, canned vegetables, andnon-alcoholic beverages, it is also naturally found in fruits and fruit juices. Furthermore, CH3CHO is utilized as a food flavoring agent, enhancing the taste of fruit juices, pastries, desserts, and milk products.

Application Insights

The food & beverage segment accounted for the largest revenue share of more than 30% in 2022. This is attributed to the high food demand due to the rising global population and popularity of packaged food due to changing lifestyles and eating habits. The product is used as a flavoring agent in sweets, desserts, soft drinks, alcoholic beverages, and fruit juices. It naturally occurs in bread, coffee, and ripe fruit. The chemicals segment held the second-largest revenue share and is predicted to grow at a CAGR of 5.2%, in terms of revenue, over the forecast period. This is attributed to the application of acetaldehyde in producing chemicals, such as pyridine and pentaerythritol.

Pyridine is used as a precursor for producing several pharmaceutical and agrochemical products while pentaerythritol is used in products, such as explosives, antioxidants,synthetic lubricants、松香酯和醇酸树脂。其他applications of the product include water treatment, petrochemicals, adhesives, and agriculture. The growing demand for water due to declining fresh water reserves is expected to drive the demand for water treatment, thereby having a positive impact on the market growth. In addition, the product is utilized in the agriculture industry for producing insecticides and pesticides. This is likely to propel the market growth in agrochemicals over the forecast years.

Regional Insights

Asia Pacific accounted for the largest revenue share of more than 55% in 2022. This is attributed to the low manufacturing cost in countries, such as India, China, and South Korea, and easy raw material availability in the region. In addition, rapidly growing population in India and China is expected to fuel product demand in the food preservation applications. China, known for its industrialization and manufacturing prowess, has a significant need for paints and coatings across various sectors, such as automotive, industrial, and construction. China accounts for more than one-fourth of the global coatings market, with a consistent growth rate of 7% in recent years, according to the China National Coatings Industry Association. This robust demand for paints and coatings in China is expected to create new opportunities for CH3CHO market growth.

Moreover, in India, the paints & coatings industry is growing at a high pace owing to the presence of a large number of participants, such as Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel India. These companies have recently announced capacity expansions, which are expected to boost the demand for paint & coating formulations in the country. Europe was the second-largest regional market, in terms of revenue and volume, in 2022. It is anticipated to grow at a CAGR of 5.0% over the forecast years. This is attributed to the rapid growth of the food & beverage industry in the region. According to the European Commission, the food & drink exports have doubled and reached around USD 95.28 billion in the last 10 years. A major initiative in the region supporting EU food competitiveness that is forum for a better functioning food supply chain is likely to have a positive impact on the market in the coming years.

Derivative Insights

Based on derivative, the market has been further categorized into pyridine, pyridine bases,pentaerythritol, acetic acid, acetate esters, butylene glycol, other derivatives. The acetic acid segment held the largest revenue share in 2022. Acetaldehyde can be oxidized to produce acetic acid, a fundamental chemical compound used in the production of plastics, textiles, pharmaceuticals, and various food products. Acetic acid is also a key component in the manufacturing of vinegar. In addition, CH3CHO is a versatile organic compound that serves as a precursor for the synthesis of various derivatives through chemical reactions and modifications. These derivatives have a wide range of industrial, pharmaceutical, and chemical applications.

Key Companies & Market Share Insights

主要市场参与者不断工作integration of the value chain, and other strategic alliances to gain higher market shares. In September 2022, Archit Organosys Ltd. unveiled its plans for expansion, diversification, and integration at its current factory site in Gujarat, India. Over the next few years, the company intends to invest approximately USD 7.28 million in various product lines, including acetaldehyde, ethyl acetate, butyl acetate, and more. To facilitate the production of CH3CHO and other chemicals, the company has established a wholly owned subsidiary called Archit Life Science Limited.

This strategic move aims to enhance the company's capabilities and broaden its offerings in the chemical industry. For the quarter ending of June 2023, the product prices have slightly increased in the U.S. owing to the improved buying trends. Moreover, the demand for CH3CHO from the downstream food & beverages andfood additivessegments has increased in the domestic and overseas markets in North America.

Acetaldehyde Market Report Scope

Report Attribute	Details
马克et size value in 2023	USD 2.12 billion
Revenue forecast in 2030	USD 3.06 billion
Growth rate	CAGR of 5.4% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Volume in kilotons, revenue in USD million/billion, and CAGR from 2022 to 2030
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Derivative, application, region
Regional scope	North America; Europe; Asia Pacific; CSA; Middle East & Africa
Country scope	U.S.; Canada; Mexico; Germany; UK; Italy; France; Spain; The Netherlands; China; India; Japan; South Korea; Brazil; Chile; Argentina; Saudi Arabia; South Africa
Key companies profiled	Celanese Corporation; Eastman Chemical Company; Sumitomo Chemical Co., Ltd; Sekab, Lonza; LCY Chemical; Jubilant Life Sciences; Ashok Alco-chem
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Acetaldehyde Market Report Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the acetaldehyde market report on the basis of derivative, application, and region:

• Derivative Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Pyridine

  • Pyridine Bases

  • Pentaerythritol

  • Acetic Acid

  • Acetate Esters

  • Butylene Glycol

  • 其他衍生品

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Food & Beverage

  • Chemicals

  • Pharmaceuticals & Cosmetics

  • Paper & Pulp

  • 塑料和合成橡胶

  • Paints & Coatings

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • Italy

    • France

    • Spain

    • The Netherlands

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Chile

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa