Benzaldehyde Market Research Report - Forecast to 2032

Benzaldehyde Market Research Report Information By Derivatives (Benzoic Acid, Sodium Benzoate, Benzyl Alcohol, Cinnamic Acid, and Others), By Process (Toluene Oxidation Process, and Toluene Chlorination Process), By Application (Aroma Chemicals, Pharmaceuticals, Agrochemicals, Food & Beverages, Dyes & Coatings, and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/CnM/1508-CR | 140 Pages | Author: Chitranshi Jaiswal | February 2021         

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Global Benzaldehyde Market Overview


The benzaldehyde market size was valued at USD 0.29 Billion in 2022. The benzaldehyde industry is projected to grow from USD 0.30 Billion in 2023 to USD 0.39 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2023 - 2032). The increasing demand for aroma chemicals manufacturers, the growing utilization of derivatives in the organic chemistry and the escalating need for benzaldehyde as an active pharmaceutical ingredient in the pharmaceutical industries are the key market drivers enhancing the market growth.


Benzaldehyde Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Benzaldehyde Market Trends




  • Increasing demand for home care and personal care products drives the market growth.




Market CAGR for benzaldehyde is being driven by the wide range of cosmetics and personal care items, including baby products, bath products, cleansing products, soaps and detergents, eye makeup, as well as nail, hair, and skincare items, utilize benzoate as an ingredient. Preservatives are needed in cosmetics and hair care products to prevent the growth of microorganisms. Apart from preservatives, benzoates are used as aversive additives. In order to discourage oral consumption, home care products, including window cleaners, antiseptics, and laundry detergent, contain a small amount of benzoate. Thus, the growing demand for personal and home care products drives the benzaldehyde market.


Large pharmaceutical companies are also developing cutting-edge anti-obesity medications for weight loss and management. The quantity of clinical trials conducted on obesity has made it the subject of most research nowadays. There are 93 practices in the obesity medications channel, spanning all stages of clinical results. Governmental organizations have several crucial responsibilities in a national public health emergency, such as the rising rate of childhood obesity. By tackling general obesity as a crucial public health preference and coordinating the public and private domain response, it demonstrates leadership. Despite stricter government guidelines and greater personal commitment, obesity rates worldwide continue to rise. Government regulations and levies may increase public awareness of weight control and compel the food and beverage industries to reduce the calorific value of their offerings.


Increasing utilization of the products of the aromatic compound for the synthesis of different organic compounds. The derivatives of the compound, such as benzoic acid, cinnamic acid, benzyl alcohol, and sodium benzoate, are increasingly being employed in organic reactions to produce other chemicals. Thus, the demand for the compound is directly linked to the increasing application of its derivatives for manufacturing new compounds. This is expected to augment the production of the compound and positively impact its demand in the benzaldehyde market revenue.


Furthermore, benzoic acid is utilized for preparing phenols in the chemical sector and preservatives in toothpaste and mouthwash, which are essential commodities and is also used as a replacement for phthalate plasticizers with non-phthalate plasticizers, particularly in European and North American regions, which has created a great market opportunity for benzoic acid manufacturers with increasing application in paper industries. Apart from this, the market is propelling high growth owing to its usage in different ointments in pharmaceuticals for fungal skin disease treatment such as anti-aging, burns, ringworm, or athlete’s food.


Benzaldehyde Market Segment Insights


Benzaldehyde Derivatives Insights


The benzaldehyde market segmentation, based on derivatives, includes benzoic acid, sodium benzoate, benzyl alcohol, cinnamic acid, and others. The benzyl alcohol segment dominated the market, accounting for 35% of market revenue (0.05 Billion). In developing economies, category growth is driven by increasing demand for benzyl alcohol as anti-parasite medicine and a common preservative in injectable drugs. However, sodium benzoate is the fastest-growing category due to the increased demand for medicinal supplies.


Benzaldehyde Process Insights


The benzaldehyde market segmentation, based on process, includes the toluene oxidation process and the toluene chlorination process. The toluene oxidation process category generated the most income (70.4%) due to the growing need for food-grade benzaldehyde found in the toluene oxidation process in the food and beverage industry. However, the toluene chlorination process is the fastest-growing category due to its growing utilization in producing perfumes, flavoring chemicals, dyes, and pharmaceuticals.


Figure 1: Benzaldehyde Market, by Process, 2022 & 2032 (USD Billion)


Benzaldehyde Market, by Process, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Benzaldehyde Application Insights


The benzaldehyde market segmentation, based on application, includes aroma chemicals, pharmaceuticals, agrochemicals, food & beverages, dyes & coatings, and others. The pharmaceuticals category generated the most income as a principal application for benzaldehyde is an excipient in medications given intramuscularly, such as antibiotics, anti-inflammatories, or psychiatric drugs. However, dyes & coatings are the fastest-growing category benzaldehyde is a powerful solvent free of dangerous air pollutants when coupled with a dense material to assist it in adhering to coatings.


Benzaldehyde Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American benzaldehyde market will dominate owing to increasingly lenient government regulation, the development of numerous end-user industries, and a very large consumption base will boost the market growth in this region. Moreover, the US benzaldehyde market held the largest market share, and the Canadian benzaldehyde market was the fastest-growing market in the North American region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: BENZALDEHYDE MARKET SHARE BY REGION 2022 (USD Billion)


BENZALDEHYDE MARKET SHARE BY REGION 2022


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Europe's benzaldehyde market accounts for the second-largest market share owing to increased demand from end-user industries and lower feedstock prices. Demand for benzaldehyde in the food and cosmetics industries increased due to the increasing disposable income and growing population. Further, the German benzaldehyde market held the largest market share, and the UK benzaldehyde market was the fastest-growing market in the European region.


The Asia-Pacific benzaldehyde Market is expected to grow at the fastest CAGR from 2023 to 2032. This is owing to the well-established healthcare industry and the presence of major pharmaceutical companies, which has led to increased demand for benzaldehyde in this region. Moreover, China’s benzaldehyde market held the largest market share, and the Indian benzaldehyde market was the fastest-growing market in the Asia-Pacific region.


Benzaldehyde Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the benzaldehyde market grow even more. Market players are also undertaking several strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the benzaldehyde industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the benzaldehyde industry to benefit clients and increase the market sector. Major players in the benzaldehyde market, including Kadillac Chemicals Pvt. Ltd., Shimmer Chemicals Pvt. Ltd., Emerald Performance Materials LLC, Gujarat Alkalies and Chemicals Limited (GACL), Haihang Industry Co. Ltd., and others, are attempting to increase market demand by investing in research and development operations.


Lanxess AG is a specialty chemical manufacturing company. It develops, manufactures, and markets chemical intermediates, additives, specialty chemicals and plastics. The company's products find applications in agrochemicals, automotive, construction, aromas and flavors, pharmaceuticals, tire chemicals, electrical, electronics, leather processing and water treatment, among others. It carries out R&D in alliance with institutes and universities. Some of its major brands include Rhenogran, Aktiplast, Aflux, Vulcuren, Perkalink and Rhenoshape, among others. The firm operates through a network of manufacturing facilities globally. In August 2021, Lanxess AG acquired Emerald Kalama Chemical. As per the company, the acquisition Strengthened the Consumer Protection segment, such as aroma chemicals and preservatives for food, cosmetics, household, and personal care applications.


Eastman Chemical Company is an American firm primarily involved in the chemical industry. Once a subsidiary of Kodak, it is now an independent specialty materials firm that produces various chemicals and fibers for everyday objectives. Established in 1920 and founded in Kingsport, Tennessee, the company has over 50 manufacturing sites worldwide and employs approximately 14,000 people. In April 2021, Eastman Chemical Company acquired 3F Feed & Food, a European pioneer in the technological and commercial advancement of animal feed and human food additives.


Key Companies in the Benzaldehyde market include



  • Kadillac Chemicals Pvt. Ltd.

  • Shimmer Chemicals Pvt. Ltd.

  • Emerald Performance Materials LLC

  • Gujarat Alkalies and Chemicals Limited (GACL)

  • Haihang Industry Co. Ltd.

  • Nantong Tianshi Chemical Co. Ltd.

  • Jiangsu Jiamai Chemical Co. Ltd.

  • Shenyang Huijinfengda Chemical Co. Ltd.

  • Chematek S.p.A.

  • Wuhan Dico Chemical Co. Ltd.

  • Lianyungang Taile Chemical Industry Co. Ltd.

  • Merck KGaA.


Benzaldehyde Industry Developments


March 2022: Ganesh Benzoplast Ltd, in collaboration with Golden Agri International Enterprises Pte. Limited. KN Agri Resources Ltd. and other investors entered the ethanol production and Extra Neutral Alcohol (ENA) by acquiring a 100 percent shareholding in Sagar Industries, a distillery in Nasik, Maharashtra, India.


March 2022: The Canadian government proposed adding the alcohols methanol, 1-butanol, and benzyl alcohol to the country's toxic substances list in Schedule 1 of the Canadian Environmental Protection Act. If the move is confirmed following public consultation, regulatory risk management measures will be implemented against the substances.


November 2021: Valtris Specialty Chemicals Limited announced to expansion its production of benzoyl chloride in Europe. Valtris Advanced Organics, a manufacturer of chlorinated toluene derivatives utilized in various end markets such as agrochemicals, pharmaceuticals, construction, and automotive, serves clients globally from its three manufacturing facilities.


Benzaldehyde Market Segmentation


Benzaldehyde Derivatives Outlook



  • Benzoic Acid

  • Sodium Benzoate

  • Benzyl Alcohol

  • Cinnamic Acid

  • Others


Benzaldehyde Process Outlook



  • Toluene Oxidation Process

  • Toluene Chlorination Process


Benzaldehyde Application Outlook



  • Aroma Chemicals

  • Pharmaceuticals

  • Agrochemicals

  • Food & Beverages

  • Dyes & Coatings

  • Others


Benzaldehyde Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 0.29 Billion
Market Size 2023 USD 0.30 Billion
Market Size 2032 USD 0.39 Billion
Compound Annual Growth Rate (CAGR) 3.50% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Process, Application, Derivatives, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Kadillac Chemicals Pvt. Ltd., Shimmer Chemicals Pvt. Ltd., Emerald Performance Materials LLC, Gujarat Alkalies and Chemicals Limited (GACL), Haihang Industry Co. Ltd., Nantong Tianshi Chemical Co. Ltd., Jiangsu Jiamai Chemical Co. Ltd., Shenyang Huijinfengda Chemical Co. Ltd., Chematek S.p.A., Wuhan Dico Chemical Co. Ltd., Lianyungang Taile Chemical Industry Co. Ltd., and Merck KGaA.
Key Market Opportunities Increasing demand for aroma chemicals manufacturers
Key Market Dynamics Growing utilization of derivatives in the organic chemistry.The escalating need for benzaldehyde as an active pharmaceutical ingredient.
 



Frequently Asked Questions (FAQ) :

The benzaldehyde market size was valued at USD 0.29 Billion in 2022.

The benzaldehyde market is projected to grow at a CAGR of 3.50% during the forecast period, 2023-2032.

North America had the largest share of the benzaldehyde market.

The key players in the benzaldehyde market are Kadillac Chemicals Pvt. Ltd., Shimmer Chemicals Pvt. Ltd., Emerald Performance Materials LLC, Gujarat Alkalies and Chemicals Limited (GACL), Haihang Industry Co. Ltd., Nantong Tianshi Chemical Co. Ltd.

The benzyl alcoholic category dominated the benzaldehyde market in 2022.

The toluene oxidation process category dominated the benzaldehyde market in 2022.

Pharmaceuticals had the largest share of the benzaldehyde market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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