Rising Demand in Aroma Chemicals Industry Anticipated to Drive Global Benzaldehyde Market.

Benzaldehyde is an organic, colorless liquid with a pleasant almond fragrance. Commercially, it is manufactured by the hydrolysis of benzal chloride or by air oxidation of toluene. The latter is the most widely accepted process for extracting synthetic benzaldehyde. The most commonly used grades of benzaldehyde are technical grade and F.C.C. grade. The first is used as an intermediate chemical for manufacturing artificial fragrances and flavors, and the second is used in flavors such as almond and cherry, and in fragrances for soap and toiletries.

Transparency Market Research, a leading U.S.-based market research firm, has analyzed the Benzaldehyde market and projected that the global market would expand at a compounded annual growth rate of 3.4% in terms of revenue for the period between 2015 and 2023. Growing demand for benzaldehyde in the aroma chemicals industry is likely to boost the market growth during the forecast period.

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Benzaldehyde is mainly consumed as a flavoring agent to manufacture artificial flavors such as almond and cherry in the food and beverages industry. It has large demand as an odorant in the manufacturing of a variety of soaps, cosmetics, and detergents. Prominent growth in the flavors and fragrances industry is expected to drive the demand for benzaldehyde. Double distilled benzaldehyde is primarily utilized in the pharmaceutical industry. There are a large number of prominent drugs and intermediaries including benzyl amine, diphenylhydantoin, and pseudoephedrine HCl where benzaldehyde is used as a basic ingredient. In the agrochemical industry, benzaldehyde is utilized as an intermediate chemical to produce pesticides and herbicides. Due to the wide spectrum usage of benzaldehyde derivatives in the agriculture industry, the benzaldehyde market is expected to grow significantly. Benzaldehyde also finds application in manufacturing coatings, dyes, and other formulations.

In terms of demand, the Asia Pacific region held the largest share of the global benzaldehyde market in 2014; of this, a majority of the market share is served by China and India. Rising gap in the demand and supply of benzaldehyde in the Asia Pacific region is generating growth opportunities for the existing as well as new manufacturers. In the North America and Europe regions, the benzaldehyde market is witnessing a slow to moderate growth rate due to sluggish growth in the end-user segments in aroma chemicals, pharmaceuticals, and agriculture. Increasing demand for benzaldehyde in the coatings application is expected to propel the benzaldehyde market in Latin America. In Middle East & Africa, the benzaldehyde market is expected to grow moderately during the forecast period.

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Some of the key players leading the global benzaldehyde market are Emerald Performance Materials LLC, Gujarat Alkalies And Chemicals Limited (GACL), Kadillac Chemicals Private Limited, Lanxess AG, Lianyungang Taile Chemical Industry, Co. Ltd., Haihang Industry Co., Ltd., and Wuhan Dico Chemical Co., Ltd.

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