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Acetaldehyde Market Overview, SWOT Analysis, Segmentation, Applications and Regional Outlook Study 2018 2023
Acetaldehyde Market Overview to 2023
The Global Acetaldehyde Market is majorly driven by its application as a chemical intermediate. Various chemicals are produced using acetaldehyde include pyridine & pyridine bases, pentaerythritol, acetic acid among others. The increasing demand for acetaldehyde as a preservative and flavoring agent from the food & beverage industry is another major driver of the Global Acetaldehyde Market. It is highly used to add flavors to various consumables such as milk products, baked goods, fruit juices, desserts, candies, and soft drinks.
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Competitive Analysis
Some of the prominent manufacturers in the global market of Acetaldehyde are Celanese Corporation (U.S.), Eastman Chemical Company (U.S.), Merck KGaA (Germany), Sumitomo Corporation (Japan), SEKAB (Sweden), SHOWA DENKO K.K. (Japan), Jubilant Life Sciences Ltd. (India), Ashok Alco- chem Limited (India), LCY Group (Taiwan), Laxmi Organic Industries Ltd. (India), Lonza (Switzerland), Naran Lala Pvt. Ltd. (India), Eurochem Group AG (Switzerland), Wacker Chemie AG (Germany), and China National Petroleum Corporation (China).
Market Segmentation
The product type segment is categorized into pyridine & pyridine bases, pentaerythritol, acetic acid, peracetic acid, ethyl acetate, and others. The pyridine & pyridine based and pentaerythritol together lead the segmental market. Pyridine is a precursor of many agrochemicals and pharmaceuticals. Nitrapyrin is the fertilizer produced using pyridine, which is responsible for the transformation of nitrogen in the soil. Pentaerythritol is used in fuel composition to produce aviation turbine fuel, automotive engine oil, lubricants, etc. which drives the product demand in the aerospace & defense, automotive, and others.
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Regional Analysis
The Global Acetaldehyde Market is spanned across five major regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia Pacific is expected to dominate the Global Acetaldehyde Market due to the high demand from major end-use industries such as chemical and agricultural industries in this region. Countries such as China, India, and Japan drive the regional market owing to the demand from the above-mentioned industries.
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