Global Benzaldehyde Market to Grow at One-Digit CAGR, Expects Market Research Future in Its Report Available at MarketPublishers.com10 May 2017 • by Natalie Aster
LONDON – Benzaldehyde is extensively used in the production of an array of chemicals. It is also employed as a flavoring agent and an additive in such industries as pharma and food and beverages.
There is a range of factors that spur the demand for benzaldehyde: the rising demand for end products, the growing use of this chemical in the manufacturing of different agrochemicals, etc.
As of 2015, a value of the global benzaldehyde market stood at slightly above USD 241 million. This marketplace is set to value much more in the future: e.g., it is expected to surpass the USD 300 million mark by 2023, showcasing a CAGR of over 3%.
In terms of benzaldehyde derivatives, the lead is taken by the benzoic acid derivatives segment. It held a 50% share on the total market. In terms of application, aroma chemicals dominate the global space. This segment is set to maintain this position in the offing, too.
Region-wise, the swiftest growth is expected to occur in the APAC region, and this region will also be the largest player in the years to come.
Kadillac Chemicals, LANXESS, and Jiangsu Jiamai Chemical Co. Ltd are some of the major players in the benzaldehyde universe.
In-demand research report “Global Benzaldehyde Market - Trends & Forecast, 2016-2022” developed by Market Research Future offers a comprehensive discussion of the world’s market for benzaldehyde. The study provides a 360-degree overview of the marketplace.
It sheds light on factors that drive this space and restrain it. The report looks at major trends and covers developments. The research study gives explicit details pertaining to the performance of all the segments.
It also canvasses regional performance and investigates the competitive environment, besides profiling top companies globally. Future outlook is on hand in the research report, too.
More in-demand studies by Market Research Future are available at its page.