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The global propionaldehyde market is being aided by the growth of the propionic acid industry. The global propionic acid market reached a value of about USD 1.64 billion in 2023. The propionic acid industry is further expected to grow at a CAGR of 6.40% in the forecast period of 2024-2032 to reach a value of approximately USD 2.83 billion by 2032.
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Propionaldehyde, a chemical intermediate, finds use in various applications ranging from fertilisers to rubber chemicals and cellulose. The growing demand from pharmaceuticals, and home and personal care industry are particularly aiding the market growth. In the home and personal care sector, the product finds application in the manufacturing of aroma chemicals, which are further utilised in various products to impart fragrances. In the pharmaceutical industry, it is used to prepare various formulations. Meanwhile, propionaldehyde is also used to produce basic and organic chemicals, agricultural chemicals, pesticides, and fertilisers. The growing consumer demand for these end-use products is expected to drive the demand for propionaldehyde in the next few years.
The Asia Pacific is expected to provide enhanced growth opportunities for the expansion of propionaldehyde industry. The demand is growing in the region due to the rapid urbanisation and industrialisation in the emerging nations like India and China. This rising demand for pesticides, fertilisers, pharmaceuticals, and personal care products in the region is pushing the growth of the regional market. The sharp increase in the demand for pharmaceuticals amidst the COVID-19 pandemic is anticipated to boost the product demand over the forecast period.
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Propionaldehyde, also known as propanal, is an organic compound and an isomer of acetone. In appearance, it is a colourless liquid with a pungent, fruity odour. It is represented by the formula C3H6O and serves as a chemical intermediate in the production of propionic acid and alkyd resins. Industrially, it is produced on a large scale via the hydroformylation reaction, where synthesis gas and ethylene react in the presence of a metal catalyst, mainly rhodium.
The major applications of propionaldehyde are as follows:
Based on end use, the industry can be segmented into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The growing awareness regarding hygiene, particularly in the emerging nations, is driving the demand for personal care and home care products, which is further bolstering the demand for propionaldehyde. This is further supported by the improving standards of living, escalating disposable incomes, and the thriving retail industry. Moreover, the growing global population is creating a need to enhance agricultural produce. The adoption of modern farming methods and favourable government initiatives to support the farmers are expected to drive the demand for agricultural chemicals, thus, supporting the growth of the propionaldehyde industry. Other factors like rapid technological advancements, increasing R&D activities, and growing mergers and acquisitions by the major players are anticipated to bolster the industry growth in the next five years.
The report gives a detailed analysis of the following key players in the global propionaldehyde market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global propionaldehyde market is being aided by the global propionic acid industry, which reached a value of USD 1.64 billion in 2023.
The global propionic acid market is expected to grow at a CAGR of 6.40% between 2024 and 2032, further driving the propionaldehyde industry.
The propionic acid industry is estimated to reach USD 2.83 billion by 2032 and is expected to continue to aid the growth of the propionaldehyde industry.
The major drivers of the industry, such as rising disposable incomes, increasing population, rising demand from pharmaceuticals and home and personal care industry, increasing consumer demand for end-use products, rising urbanisation and industrialisation, enhancing standards of living, the rapid growth of the retail industry, and favourable government initiatives, are expected to aid the market growth.
The key market trends guiding the growth of the market include the growing adoption of modern farming methods, rising technological advancements, and increasing R&D activities.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading application segments in the market are pesticides, plastics, flavours and fragrance, rubber chemicals, and cellulose alkyd resins, among others.
The major end-use sectors in the industry are agriculture, food and beverage, home and personal care, cosmetics, and pharmaceuticals, among others.
The major players in the industry are BASF SE, Eastman Chemical Company, Perstorp Holding AB., and Zibo Nuoao Chemical Co.,Ltd, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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