Global Benzaldehyde Market foresees 3.70% CAGR to be worth USD 324 Million by 2024
Posted On September 14, 2018
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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The report is segmented based on end-user and region. The end-user segment covers aroma chemicals, pharmaceuticals, agriculture, coatings, others. Among which, the aroma chemical segment is dominating owing to the rising application of benzaldehyde across aroma chemical. Also, rising demand for cosmetics, personal care products, and the household product is driving the demand of aroma chemicals. Regarding geography, the market has been studied across five regions which include, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is ruling the global benzaldehyde market. The market growth can be attributed to the expansion of end-user industry along with high sales of cosmetics and personal care products in the region.
The Report Segments Global Benzaldehyde Market -
- Aroma Chemicals
Key Players Studied In The Report:
- North America
- Latin America
- Middle East & Africa
Chematek S.P.A., Emerald Performance Materials, LLC., EMD Millipore Corporation, Gujarat Alkalies And Chemicals Limited, Haihang Industry Co., Ltd., Ineos Group Limited, Jiangsu Jiamai Chemical Co., Ltd., Kadillac Chemicals Private Limited, Lanxess AG, Lianyungang Taile Chemical Industry, Co., Ltd., Nantong Tianshi Chemical Co., Ltd., Shenyang Huijinfengda Chemical Co., Ltd., Shimmer Chemicals Pvt. Ltd. and Wuhan Dico Chemical Co., Ltd.
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