The major market drivers of global benzaldehyde derivatives market are rising demand from food and chemical, agrochemical, solvent and pharmaceutical industry.
Albany, NY -- (SBWIRE) -- 02/13/2017 -- Global Benzaldehyde Derivatives Market: Overview
Benzaldehyde derivatives are the compounds which are derived from one of the simplest forms of aldehyde, benzaldehyde. These derivatives are found both in natural and synthetic forms. The commonly used benzaldehyde derivatives in chemical industry are cinnamic acid, benzoic acid, sodium benzoate and benzyl alcohol. Benzaldehyde derivatives can be formed from benzaldehyde via oxidation, reduction and disproportionation reactions. Key application areas of benzaldehyde derivatives include chemical industry, food industry, pharmaceutical industry, cosmetics industry and agriculture industry. Benzoic acid accounted for the major share of the global benzaldehyde derivatives market both in terms of revenue and volume owing to its growing use in aroma, food and pharmaceutical industries. In terms of volume, benzoic acid accounted for over 60 % of the global benzaldehyde derivatives market in 2015. The market share of benzoic acid is expected to increase in the forecast period due to robust growth in the food and chemical industries.
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The major market drivers of global benzaldehyde derivatives market are rising demand from food and chemical, agrochemical, solvent and pharmaceutical industry. However, the anticipated growth may be hindered by factors such as growing health concerns and threat of substitutes such as propionic and sorbic acids, volatility in crude oil prices and strict regulations. Rise in demand in developing regions such as Asia Pacific and Middle East & Africa is anticipated to propel the benzaldehyde derivatives market and is considered as an opportunity for the global benzaldehyde market. High demand for solvents in the production of oil, resin, cellulose ether, cellulose acetate, and nitrate presents significant opportunities in the benzaldehyde derivatives market.
Global Benzaldehyde Derivatives Market: Scope of the Study
This study analyzes, estimates, and forecasts the global benzaldehyde derivatives market in terms of volume (tons) and revenue (US$ thousand) from 2015 to 2024. Market numbers given in the report describe the demand for global benzaldehyde derivatives, but not production or supply. The global benzaldehyde derivatives report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
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The report provides comprehensive analysis of the global benzaldehyde derivatives by key products and regions. It segments the market into key products that include cinnamic acid, benzoic acid, sodium benzoate and benzyl alcohol. The report also segments the benzaldehyde derivatives market based on major geographies into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Besides, the report comprises 12 unique country-specific analysis.
Based on the product and country, the report analyzes the attractiveness of each segment and country with the help of an attractiveness tool. The study consist of value chain analysis, which offers a better understanding of key companies in the supply chain from raw material manufacturers to end-users. Additionally, the study examines market competition through Porter's Five Forces Analysis.
Global Benzaldehyde Derivatives Market: Competitive Landscape
The report includes an overview of the market share of key companies in the global benzaldehyde derivatives market. Market share of companies has been derived on the basis of production by manufacturers of benzaldehyde derivatives. Key market players profiled in the study include Emerald Performance Materials, Merck KGaA, Haihang Industry Co., Ltd, Elan Chemical, Guangzhou Shiny Co., Ltd, Gujarat Alkalis and Chemicals Limited, Kadillac Chemicals Pvt Ltd, Shimmer Chemicals Pvt. Ltd, Wuhan Dico Chemical Co., Ltd , Yingcheng Wuhan Organic Material Co., Ltd. Out of these companies, Merck KGaA , Haihang Industry Co., Ltd and Emerald Performance Materials are the major benzaldehyde manufacturing companies.
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Global Benzaldehyde Derivatives Market: Research Methodologies
Primary research represents the majority of our research efforts, complemented by extensive secondary research. We reviewed key players' product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of technical writing, recent trade, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most consistent, effective, and productive approach for procuring precise market data, recognizing business opportunities, and understanding industry participants' perceptions.
Secondary research sources that are typically referred to include broker reports, corporation websites, external patented databases, financial reports, stockholder presentations, Securities & Exchange Commission filings, proprietary databases and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market. Secondary sources referred for this study include ICIS Chemical Business Magazine, Hoover's, Factiva, and company presentations.
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