Global Benzaldehyde Market is Likely to Reach US$ 318 Mn in 2023: Transparency Market Research

Transparency Market Research has published a new report titled “Benzaldehyde Market for Aroma Chemicals, Pharmaceuticals, Agriculture, Coatings and Other End-users – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015–2023.” According to the report, the global market for benzaldehyde was valued at US$ 234.4 Mn in 2014 and is anticipated to reach US$ 318 Mn by 2023, expanding at a CAGR of 3.4% between 2015 and 2023.

In terms of demand, Asia Pacific held the largest share of over 50% of the global benzaldehyde market in 2014. The market for benzaldehyde in the region is primarily driven by increasing demand for benzaldehyde in industries such as aroma chemicals, pharmaceuticals, and agriculture. Countries such as India and China are estimated to drive the benzaldehyde market in the near future. Europe accounted for the second-largest share of the global benzaldehyde market in 2014. However, stringent governmental regulations and volatility in crude oil prices are likely to hamper demand for benzaldehyde in the region. North America is projected to exhibit stable demand for benzaldehyde during the forecast period. Latin America and the Middle East & Africa are expected to witness sluggish rise in demand for benzaldehyde during the forecast period.

Browse the full report at http://www.transparencymarketresearch.com/benzaldehyde-market.html

Demand for benzaldehyde in aroma chemicals, pharmaceuticals, and agriculture is anticipated to increase in the near future due to growth in various applications in the emerging economies. Benzaldehyde, an organic compound, is prepared by oxidation of toluene or by treating benzal chloride with an alkali such as sodium hydroxide. It is commonly used in the synthesis of other organic compounds, which include flavors and fragrances, drug intermediaries, dyes, coatings, agrochemicals and others (resins). High growth potential in developing countries and rising usage of benzaldehyde in various applications are projected to provide opportunities for the benzaldehyde market during the forecast period.

China and India dominated the demand market for benzaldehyde in Asia Pacific in 2014. Asia Pacific is estimated to boost the global benzaldehyde market in the near future. In terms of demand, the U.K. dominated the benzaldehyde market in Europe in 2014. Aroma chemicals, pharmaceuticals, and agriculture industries together accounted for over 70% share of the benzaldehyde market in the U.K. in 2014. Countries such as France, Italy, Germany, the Netherlands, and Spain have been major consumers of benzaldehyde in the recent past. This trend is anticipated to continue during the forecast period. In terms of demand, the U.S. dominated the market for benzaldehyde in North America in 2014. Brazil accounted for the largest share of the benzaldehyde market in Latin America in 2014. Industries such as aroma chemicals, pharmaceuticals, and agriculture were key contributors to the market growth. The benzaldehyde market in the Middle East & Africa is anticipated to exhibit sluggish growth in the near future.

Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/benzaldehyde-market.htm

The report segments the benzaldehyde market as follows:

Benzaldehyde Market – End-user Analysis

  • Aroma Chemicals
  • Pharmaceuticals
  • Agriculture
  • Coatings
  • Others (Including Dyes, etc.)

Benzaldehyde Market – Regional Analysis

  • North America
    • S.
    • Rest of North America
  • Europe
    • K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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