Acetaldehyde Market Size To Reach $3.06 Billion By 2030

Acetaldehyde Market Growth & Trends

The global acetaldehyde market is estimated to reach USD 3.06 billion by 2030, registering a CAGR of 5.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising demand for the chemical as an intermediate for producing various commodity chemical compounds owing to their usage in various industries, such as rubber, food & beverage, and others. Acetaldehyde (CH3CHO) is widely recognized as one of the most commonly used aldehydes in various industries and serves multiple industrial purposes including food and beverages, chemicals, resins, paints and coatings. It is synthesized commercially by oxidizing ethylene using the copper system, and it occurs naturally as well.

Its large-scale production is carried out globally to meet commercial demands. The production of CH3CHO can utilize different raw materials, such as ethanol and ethylene, and the availability and cost of these feedstocks can impact the economics of production. Acetaldehyde is popularly known as the aldehyde of acetic acid. It is also known as acetic aldehyde, ethanal, and ethyl aldehyde. Moreover, it is primarily present in lesser amounts in some foods made through fermentation, such as soy products, canned vegetables, milk products, and non-alcoholic beverages. The demand for processed foods, alcoholic beverages, and other products are also impacting the CH3CHO market.

CH3CHO is used as a flavoring agent to enhance the taste and aroma of certain food products. It is often added to various beverages and confectionery items to impart a fruity, nutty, or green apple-like flavor. It can be used in alcoholic beverages like whiskey and brandy to contribute to their unique flavor profiles. Key players in the market are strengthening their position by focusing on broadening their product portfolios and investing in technological developments. Asia Pacific is expected to register significant CAGR over the coming years as the region is a major product producer and consumer, with China and India accounting for a majority share of more than 50% in the region.

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Acetaldehyde Market Report Highlights

• In 2022, acetic acid emerged as the dominant process and accounted for a revenue share of more than 34%. Acetaldehyde can be oxidized to produce acetic acid, a fundamental chemical compound used in the production of plastics, textiles, pharmaceuticals, and various food products

• Chemicals was the second-largest application segment in 2022 and is projected to grow at a CAGR of 5.2% in terms of revenue from 2023 to 2030, owing to its usage in producing various downstream chemicals

• Asia Pacific was the largest regional market in 2022 and is expected to continue its dominance over the forecast years due to the rapid growth of the end-use industries in the region

• The food & beverage segment led market, in terms of revenue and volume, due to the high product usage in various food products as a flavoring agent

Acetaldehyde Market Segmentation

Grand View Research has segmented the global acetaldehyde market on the basis of derivative, application, and region:

Acetaldehyde Derivative Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Pyridine

• Pyridine Bases

• Pentaerythritol

• Acetic Acid

• Acetate Esters

• Butylene Glycol

• Other Derivatives

Acetaldehyde Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Food & Beverage

• Chemicals

• Pharmaceuticals & Cosmetics

• Paper & Pulp

• Plastics & Synthetic Rubber

• Paints & Coatings

• Others

Acetaldehyde Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • Italy

  • France

  • Spain

  • The Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Chile

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Acetaldehyde Market

• Celanese Corporation

• Eastman Chemical Company

• Sumitomo Chemical Co., Ltd

• Sekab

• Lonza

• LCY Chemical

• Jubilant Life Sciences

• Ashok Alco-chem