APAC to Dominate Global Benzaldehyde Market through 2022, Predicts MRFR in Its Topical Research Published at MarketPublishers.com
25 May 2017 • by Natalie Aster
LONDON – As of 2015, the world’s market for benzaldehyde stood at USD 241.4 million. By late 2022, the market is anticipated to reach the value of USD 301 million, exhibiting a 3.2% CAGR since 2015.
In the year 2015, benzoic acid derivatives made up the dominant segment of the total market, which accounted for a share of 51%. Growth of the benzoic acid derivatives segment was propelled primarily by the increasing consumption of benzaldehyde in the production of benzoic acid.
Application-wise, aroma chemicals grab the lion’s share (33.5%) of the overall benzaldehyde market.
When it comes to regions, APAC is likely to lead the world’s benzaldehyde market through 2022. The regional market has a significant growth potential and is expected to register the highest CAGR of more than 4% through 2022. The APAC benzaldehyde market is expected to hit the USD 152 million mark by end-2022 due to a huge number of producers, cheap labor costs and surging exports in the region.
Gujarat Alkalies and Chemicals Limited, LANXESS, Kadillac Chemicals, Taj Pharmaceutical Limited, Jiangsu Jiamai Chemical, amid other companies, are the leading companies in the marketplace.
Topical research study “Global Benzaldehyde Market - Trends & Forecast, 2016-2022” presented by Market Research Future (MRFR) provides a detailed analysis of the global benzaldehyde market, focusing on its structure and offering forecasts for the market development in the foreseeable future. It examines the main market segments and sub-segments on the basis of derivatives, processes, applications and regions in detail. The latest and emerging technologies and product launches are covered in the report and high growth geographies are identified. Valuable data on the market current scenario and historical background are provided in the report. Additionally, this cutting-edge study covers the market dynamics, prevailing trends, opportunities, challenges and growth influencing factors. A comprehensive future outlook for the world’s benzaldehyde market up to 2022 is at hand in this report.
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