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Benzaldehyde Market Outlook: High product demand in the pharmaceuticals industry

Author : Ronak Bora | Published Date : 2019-03-18 

Global Market Insights, Inc. adds new Benzaldehyde Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Product usage as a precursor in pharmaceuticals is expected to drive the global benzaldehyde market demand. Pharmaceutical industry is growing rapidly owing to new developments and inventions in medicines. Growing awareness about these developments and increasing affordability of the global population will enhance the product demand in pharmaceuticals. The worldwide revenue of the pharmaceutical industry in 2016 is estimated to be over USD 1 trillion.

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The benzaldehyde market will also be driven by the growing demand in the aroma chemicals industry. Use of aroma chemicals in fragrances, flavors, and odorants in increasing owing to the rise in awareness of personal grooming and personal care. The aroma chemicals market in the U.S. is likely to grow around 5% CAGR from 2017 to 2024.

Based on the end-user industry, the benzaldehyde market can be segregated into different segments such as dyes, coatings, agriculture, pharmaceuticals, and aroma chemicals to name some. From these, agriculture and aroma chemicals sectors are the major end-user segments and account for more than half of the total market share. Due to the unique product properties, such as artificial almond and cherry flavors, the aroma chemicals segment will witness significant growth.

Following the aroma chemicals segment is the agriculture segment. The product is widely used in numerous pesticides and herbicides. Benzaldehyde market demand is increasing in the agriculture segment due to rising usage of these pesticides and herbicides, especially in the developing agro-based economies like India and China. Other end-user segments such as coatings and dyes are also anticipated to display a higher demand in the coming years.

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Taking into consideration the regions, for the benzaldehyde market in 2016, Asia Pacific held a major chunk of share which was over 50% of the total share. Benzaldehyde market demand in the region is set to witness an exponential growth in the forecast period owing to lenient government regulations, development of numerous end-user industries, and a very large consumption base. Based on the demand, countries like Japan, India and China are likely to hold sway the Asia Pacific benzaldehyde market.

The major players operating in benzaldehyde market include Haihang Industries Co. Ltd, Gujarat Alkalies and Chemicals, Jiangsu Jiamai Chemical, Shijiazhuang Chemical Industry, Tokyo Chemical Industry, Jiangsu Jiujiu Jiu Technology, Lanxess, LCC, Emeralds Performance Materials, Chematek, Shimmer Chemicals, Lianyungang Taile Chemical, Kadillac Chemicals Pvt. Ltd, Merck KGaA, Wuhan Dico Chemical to name a few.

Browse Full Report @ www.gminsights.com/industry-analysis/benzaldehyde-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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