A new market study presented by Value Market Research discloses trends, demand pattern, and growth scenario of the Global Benzaldehyde Market during the period of 2017-2024. The market analysis reveals that the global benzaldehyde market was valued at USD 250.8 Million (by revenue) in 2017 and is anticipated to reach USD 324.02 Million by 2024 with a CAGR of 3.70%. The report forecasts that benzaldehyde market is currently growing at a substantial rate owing to its rising use in the production of fragrances. Use of aroma chemical in fragrances and flavor in personal care and cosmetic products is raising its demand globally. Further, the market growth is also attributed to the growing aroma chemical industry along with the expansion of various end-user industries and an increase in the consumer base.
Benzaldehyde is a basic building block compound used in the synthesis of many different complex molecules for use in product ranging from pharmaceutical to plastic additives. It has unique sweet, aroma fragrance with the odor of almonds which makes benzaldehyde an important component in the production of flavor and fragrance product. It is also used for the synthesis of fragrances like rose and jasmine, which are used in soaps and perfumes. In pharmaceutical it is used for the production of medicine for treating high blood pressure and pseudoephedrine and used as active ingredient in most cough syrups. Benzaldehyde is further used as a building block component for the production of various amino acids like phenylglycine, which are used as a side chain in various antibiotics medicines.
The report "Global Benzaldehyde Market segmented By End-User (Aroma Chemicals, Pharmaceuticals, Agriculture, Coatings, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2017-2024" studies all applications explicitly and forecasts the future growth trend.
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