Acetaldehyde, an organic compound,is one of the most important aldehydes produced and consumed globally for different industrial applications. Acetaldehyde occurs naturally and is also produced on a large scale commercially in various parts of the world. Natural sources of the compound include bread, coffee, fruits, and plants. Acetaldehyde is primarily used in the production of chemical compounds such as peracetic acid, pentaerythritol, acetate esters, acetic acid, acetic anhydride, 1,3-butylene glycol, and pyridine.The market for acetaldehyde is primarily expected to be driven by the downstream markets that use the compound as a key raw material.In terms of region, Asia Pacific is anticipated to be the major market for acetaldehyde during the forecast period. However, the global market for acetaldehyde is estimated to expand at a sluggish rate,as most downstream productsare projected to be manufactured with better raw material sources such as methanol.
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Acetaldehyde is commercially manufactured through oxidation of ethylene through the copper system (Wacker process). Acetaldehyde can also be produced through hydration of acetylene using mercuric salts as catalyst. Other methods of production such as partial dehydrogenation of ethanol are not used currently, considering the cost and yield dynamics associated with the reaction.Growth in the global peracetic acid and acetic acid markets is projected to be one of the key factors driving the global acetaldehyde market. However, availability of better substitutes for acetaldehyde as a raw material is likely to hamper the market in the next eight years.Demand for acetaldehyde in the production chemical compounds such as peracetic acid and acetic acidmentioned above for application in diverse end-user industries such as food and beverage, pulp and paper bleaching, water treatment, medical, and agriculture is expected to drive the global acetaldehyde market in the next few years.
Asia Pacific is likely to be the major market for acetaldehyde in the next few years primarily due torising demand for chemical compounds such as peracetic acid in emerging countries in Asia such as China, India, Indonesia, Malaysia, and Thailand. Apart from this,the countries such as Brazil, Argentina, Egypt, South Africa, Saudi Arabia, and Israel have been witnessing rapid growth in industries such as food and beverage and water treatment since the last few years.
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There is a massive potential for these industries in countries such as China, India, Indonesia, Thailand, and Brazil owing to rapid rise in the population of these countries and the increasing purchase parity of consumers. As a result, demand for food and beverage and water treatment chemicals is estimated to increase at a significant rate in the next few years. This would eventually lead to high demand for chemicals such as peracetic acid in these emerging countries. Brisk growth infood and beverage, pulp and paper bleaching, water treatment, medical, and agriculture industries across the globe, especially in emergingnations, is anticipated to drive the global acetaldehyde market in the next few years. Additionally, the U.S. and countries in Europe are slowly recovering from the economic crisis. Furthermore, governments of developed countries in North America and Europe are largely focusing on the usage of easily disposable biocidal chemicals such as peracetic acid. Due to these factors, the global acetaldehyde market is expected to witness large demand as a precursor in the production of acetic acid and peracetic acid in the next few years. Major players operating in the acetaldehyde market are primarily focusing on developing countriesto tap their immense market potential. These companies are building extensive manufacturing facilities in developing countries to meet the increasing demand for acetaldehyde in various end-user industries. Therefore, the global acetaldehyde market is projected to experience decent growth in the next six years.
Some of the key players operating in the acetaldehyde market include SEKAB and Eastman Chemical Company.