Acetaldehyde Market is Segmented By Type (Synthetic, Bio-based), By Process(Wacker Process, Oxidation of Ethanol, Dehydrogenation of Ethanol, Others), By Derivative(Pyridine and Pyridine Bases, Pentaerythritol, Others), By Application(Chemicals, Food and Beverage, Paints and Coatings, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Global Acetaldehyde Market is expected to reach at a CAGR of 5.93% during the forecast period 2024-2031
Ethanal or acetaldehyde is an organic commodity chemical produced extensively for applications in varied industries. Some of the most common applications of acetaldehyde include the manufacture of fire protection paints, explosives, synthetic lubricants, and pharmaceutical products, among several others. Since acetaldehyde is produced within the liver by the partial oxidation of ethanol, acetaldehyde is safe for human consumption to an extent and is employed to manufacture flavorings and preservatives.
Numerous production methods for acetaldehyde exist that utilize chemicals and biochemistry methods. Some prominent manufacturing methods include the hydration of acetylene, the Wacker process, the dehydrogenation of ethanol, and the hydroformylation of methanol. Nonetheless, acetaldehyde is found extensively in the air as a toxin and is classified by the Global Agency for Research on Cancer (IARC) as a Group one carcinogen.
Market Summary
| Metrics | Details |
| Market CAGR | 5.93% |
| Segments Covered | By Type, By Process, By Derivative, By Application, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Source: DataM Intelligence Analysis (2023)
Market Dynamics
The commercial applications of acetaldehyde as an industrial solvent drive the respective market during the forecast period. Nevertheless, the toxicity associated with acetaldehyde is a major market restraint.
The escalation in industrial applications of acetaldehyde
Irrespective of its influence on human health, acetaldehyde has numerous commercial applications in modernity and is considered a prominent commodity chemical. The principal utilization of acetaldehyde in industries includes its application as an intermediate for the formulation of a plethora of chemicals utilized in making dyes, preservatives, polyester resins, and perfumes. Further, acetaldehyde also finds application as a solvent in rubber manufacture, paper and tanning markets, and disinfectants such as sanitizers.
As per the statistical data provided by the Global Trade Centre, the global import of acetaldehydes. went from 44,146 tons in 2018 to 45,771 in 2019. Further, the import quantities witnessed a growth of 20% between 2019 and 2020 and reached 45,989 tons in 2020. Furthermore, as per the Association of Natural Rubber Producing Countries (ANRPC), natural rubber production reached 13.882 million tons in November 2021, witnessing a production hike of 2.1% to meet a global demand of 14.076 million that witnessed an upscale by 8.7%. Similarly, as production in varied industrial segments rises to meet global demands, the demand and production of acetaldehyde, a primary raw material utilized in these industry segments, also experiences a spurt globally.
In short, acetaldehyde is an essential chemical ingredient and solvent used in several chemical and manufacturing industries. As a result, the demand, sales, and production of acetaldehyde rise exponentially as these end-user industries escalate in market growth. Therefore, the growing industrial application of acetaldehyde acts as a significant market driver for the global acetaldehyde market.
Growing awareness regarding the toxicity and carcinogenic nature of acetaldehyde
Despite the ease of manufacture and widespread industrial application, acetaldehyde is toxic and a carcinogen. As per U.S. Environmental Protection Agency, acute exposure to acetaldehyde could irritate the nasal cavity, skin, and eyes.
As per the Department of Agriculture, Water and Environment, Australia, acetaldehyde have enormous human health as well as environmental implications that have motivated the agency to set safe workplace exposure limits such as:
- Maximum eight-hour time-weighted average (TWA): 20 parts/million
- Maximum short-term exposure limit (STEL): 50 parts/ million
Similar exposure limits have been established globally to protect people from the negative impacts of acetaldehyde.
Further, with rising information transparency and growing health and environmental concerns, the use of acetaldehyde is expected to hit a stone wall that would decrease the production and demand for it globally. As a result, the toxicity and carcinogenic properties of acetaldehyde and growing awareness associated with these properties are expected to moderate the growth of the global acetaldehyde market and, therefore, could be considered a significant restraining parameter.
COVID-19 Impact on Market
Similar to any chemical market, the COVID-19 pandemic negatively impacted the global acetaldehyde market during its initial waves. The two primary reasons behind the experienced downsizing of the respective market are as follows:
- The disruption in the production of acetaldehyde - Since the industrial-scale manufacture of acetaldehyde requires humongous equipment, large-scale industrial reagents, and skilled people, the production process witnessed a severe reduction during the pandemic due to lockdowns of industries and the need for social distancing.
- The disruptions in supply chain and Supply-demand dynamics - Due to the global lockdown initiated by the COVID-19 pandemic world over, the supply of raw materials required to manufacture acetaldehyde and the supply of finished products were severely affected. As a result, the demand-supply dynamics of the acetaldehyde market faced severe repercussions.
However, as the lockdown and similar restrictions were lifted, the global acetaldehyde market is witnessing immense uphill growth. The growth in food and beverages, disinfectant, rubber, and varied chemicals sectors are the primary reason behind the respected market's experienced growth. Further, advancements in the field of bio-based acetaldehyde could also be responsible for the market’s experienced growth.
Market Segmentation Analysis
The global acetaldehyde market is segmented by type, process, derivative, applications, and region.
Ease of manufacture and availability of a multitude of production techniques helps the synthetic segment to spurt in the forecast period
Based on type, the global acetaldehyde market is segmented into synthetic and bio-based. The synthetic segment dominates the global acetaldehyde market by type category due to the easy availability of raw materials, comparatively cheaper price ranges of raw materials, and availability of several well-established production methods.
However, the bio-based segment is expected to grow rapidly over the forecast period due to growing environmental concerns such as carbon footprint, increasing chemical dumping, and degradation of soil quality due to extensive chemical dumping. For instance, in October 2021, Sekab, Swedish chemicals, and the clean-tech company invested US$ 11-12 million for increasing the production of renewable acetaldehyde along with several other chemicals.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
Growing population and associated growth in food, beverages, and rubber industries help the Asia-Pacific to dominate the global acetaldehyde market
The region's population explosion should be considered the primary factor that caters to the market expansion of acetaldehydes. The influence of population expansion on the acetaldehyde market could be regarded as multivariant and could be broken down as follows:
- The rapid rise in food and beverage demand due to population growth significantly uplifted the respective market of the region due to the increased consumption of acetaldehyde in preservatives and flavorings.
- Finally, the extensive demand growth for rubber in the rapidly sprouting automotive and construction sectors elevates the overall demand for acetaldehyde in the region, as acetaldehyde is a prominent solvent utilized in the rubber industry.
For instance, as per the Indian Ministry of chemicals and fertilizers annual report 2021, the production volume of acetaldehyde in India grew from 60,460 metric tons in 2017 to 65,740 metric tons in 2018. Further, despite the influence of the pandemic, which brought the production of acetaldehyde in India to 61,890 tons in 2019, the same parameter rose colossally to 77,100 tons in 2020. China and Japan exhibit a similar production trend, thereby assisting the region’s acetaldehyde market in dominating the global acetaldehyde market.
Source: DataM Intelligence Analysis (2023)
Companies and Competitive Landscape
The global acetaldehyde market is heavily competitive in terms of international and local players. The market could be considered consolidated as several chemical corporate giants take a majority share. The major players in the market incorporate market strategies such as mergers, acquisitions, product launches, contributions, and collaborations to achieve growth and dominance in the global acetaldehyde market; these include. Some of the major market players include: Merck KgaA, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., SHOWA DENKO K.K., Ashok Alco-Chem Ltd., Celanese Corporation, FINETECH INDUSTRY LIMITED, Kanoria Chemicals & Industries Ltd., LobaChemie Pvt. Ltd., Wacker Chemie AG, among others
- For instance, Sekab, Swedish chemicals, and clean-tech business committed US$ 11-12 million in October 2021 to increase the production of renewable acetaldehyde and other chemicals.
Eastman Chemical Company
Overview: Eastman Chemical Company is a well-known maker of products used in everyday life. The company aspires to deliver creative and sustainable solutions and products using hi-tech technologies. Fibers, additives & functional products, advanced materials, and chemical intermediates comprise the company's product portfolio, which includes products for markets such as transportation, building and construction, consumables, industrial and chemical processing, food, feed and agriculture, and health and wellness, among others. The corporation employs over 14,500 people and has over 50 manufacturing plants globally. In 2020, the company's customer base spanned 100 countries and generated revenue of roughly US$ 8.5 million.
Product Portfolio:
- Acetaldehyde: The product is a highly reactive, colorless, and flammable liquid, which is miscible with water as well as organic solvents such as benzene, and toluene, among others. The product finds application in manufacturing fertilizers, building materials, process additives, and food flavors and fragrances.
Key Development:
- On January 1, 2021, the acetaldehyde manufactured by Eastman Chemical Company in its North American plants received kosher certification. The certificate is valid till December 31, 2021.
Why Purchase the Report?
- To visualize the global acetaldehyde market segmentation by type, process, derivative application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the global acetaldehyde market by analyzing trends and co-development.
- Excel data sheet with numerous data points of acetaldehyde market-level with four segments.
- PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping available as excel consisting of critical products of all the major market players
The global acetaldehyde market report would provide approximately 69 tables, 68 figures, and almost 180 pages.
Target Audience 2024
- Acetaldehyde Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Logistics companies
- Distributors/ Suppliers
