Global Benzaldehyde Market – Industry Trends and Forecast to 2030

Global Benzaldehyde Market, By Derivatives (Cinnamic Acid, Benzoic Acid, Sodium Benzoate, Benzyl Alcohol and Others), Product Type (FCC Grade, Technical Grade), Process (Toluene Oxidation Process, and Toluene Chlorination Process) Application (Dyes and Coatings, Pharmaceuticals, Aroma Chemicals, Agrochemicals, Food and Beverages and Others) - Industry Trends and Forecast to 2030.

Benzaldehyde Market Analysis and Size

Major factors that are expected to boost the growth of the benzaldehyde market in the forecast period of 2023 to 2030 are the increasing demand for aroma chemicals manufacturers, the growing utilization of derivatives in the organic chemistry and the escalating need for benzaldehyde as an active pharmaceutical ingredient in the pharmaceutical industries. Furthermore, the expansion in the aromatic chemicals market, the consumption of benzaldehyde in the manufacturing of flavours and fragrance and dyestuff and the growing need for food grade benzaldehyde found from the toluene oxidation process in the food and beverage industry are further anticipated to propel the growth of the global benzaldehyde market.

Data Bridge Market Research analyses that the global benzaldehyde market which was USD 212.00 million in 2022, is expected to reach USD 299.14 million by 2030, and is expected to undergo a CAGR of 3.90% during the forecast period of 2023 to 2030. “Aroma Chemicals” segment is expected to dominate the market because of the rise in preference towards personal care.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Benzaldehyde Market Scope and Segmentation

Market Definition

Benzaldehyde, also identified as benzenecarboxy aldehyde and benzoic aldehyde, is an aromatic compound that belongs to the functional group of aldehydes. It is colorless in appearance and have a pleasant odour. Benzaldehyde is widely used in synthesis of various aromatic chemicals and as additives. Benzaldehyde is traditionally prepared by the chlorination of toluene. Benzaldehyde is also utilized as a solvent for resins, oils, cellulose acetate, cellulose ethers, and nitrate. In addition, the compound is extensively utilized in organic synthesis, where it is used as a raw material for a large number of products.

Global Benzaldehyde Market Dynamics

Drivers

• Growing Demand from the Fragrance and Flavor Industry

Benzaldehyde is a highly sought-after ingredient in the fragrance and flavor sector due to its distinctive almond-like scent. It is extensively used in perfumes, soaps, lotions, and various cosmetic products. In addition, it is a key component in flavorings for food and beverages, providing a characteristic cherry or almond flavor. The rising consumer preference for scented personal care products and the demand for diverse flavor profiles in the food and beverage industry are driving the dominance of the fragrance and flavor segment in the global benzaldehyde market.

• Increasing Applications in Pharmaceuticals

Benzaldehyde plays a vital role in pharmaceutical synthesis, serving as a versatile building block for the production of various pharmaceutical compounds. It is utilized in the synthesis of drugs, such as antibiotics, antipsychotics, and analgesics. Benzaldehyde's chemical properties make it an essential precursor for the creation of pharmaceutical intermediates, which further contribute to the development of innovative drugs. The expanding pharmaceutical industry and the continuous research and development efforts in drug discovery are driving the demand for benzaldehyde in this sector.

Opportunity

• Advancements in Green Chemistry

The global benzaldehyde market has an opportunity to capitalize on the growing focus on sustainable practices and environmentally friendly solutions. As the demand for eco-friendly products and manufacturing processes increases, there is a need for greener alternatives to traditional chemical synthesis methods. Benzaldehyde manufacturers can explore and invest in research and development efforts to develop sustainable production techniques, utilize renewable resources, and minimize the environmental impact of benzaldehyde synthesis. By embracing green chemistry principles, the industry can position itself as a responsible and innovative player in the market.

Restraints/Challenges

• Fluctuating Prices of Raw Materials

The global benzaldehyde market is influenced by the availability and cost of raw materials, particularly toluene, which is commonly used as a feedstock for benzaldehyde production. Fluctuations in the prices of raw materials can significantly impact the profitability of benzaldehyde manufacturers, as it affects the production costs. The volatility in raw material prices may necessitate strategic sourcing strategies, hedging mechanisms, and efficient supply chain management to mitigate the financial risks associated with price fluctuations.

• Stringent Regulations and Safety Concerns

Benzaldehyde is subject to various regulations and safety standards due to its hazardous properties. Safety concerns arise from its flammability, potential for skin and eye irritation, and harmful effects if ingested or inhaled in excessive amounts. Regulatory compliance can pose challenges for benzaldehyde manufacturers, requiring them to invest in safety measures, proper handling procedures, employee training, and adherence to environmental regulations. The additional costs associated with meeting these regulatory requirements can impact the overall profitability and competitiveness of the market.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

 Recent Development

• In January 2019, Symrise launches new preservative for cosmetics and personal care, it is a benzyl alcohol-based preservative blend used to protects cosmetics from undesired microorganisms such as fungi and bacteria

Global Benzaldehyde Market Scope

The global benzaldehyde market is segmented on the basis of derivatives, product type, process and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Derivatives

• Cinnamic Acid
• Benzoic Acid
• Sodium Benzoate
• Benzyl Alcohol
• Others

Product Type

• FCC Grade
• Technical Grade

Process

• Tolune Oxidation Process
• Tolune Chlorination Process

Application

• Dyes and Coatings
• Pharmaceuticals
• Aroma Chemicals
• Agrochemicals,
• Food And Beverages
• Others

Global Benzaldehyde Market Regional Analysis/Insights

The benzaldehyde market is analyzed and market size insights and trends are provided by country, derivatives, product type, process and application as referenced above.

The countries covered in global benzaldehyde market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Asia-Pacific dominates the benzaldehyde market due to the increasing demand for benzaldehyde. Furthermore, the favourable government guidelines, the growth of several end user industries, and an exceptionally large consumption base which will further boost the growth of the benzaldehyde market in the region during the forecast period.

Europe is projected to observe significant amount of growth in the benzaldehyde market due to the major key players. Moreover, the manufacturers are constantly directing on growing their production capacities for benzaldehyde and other benzyl derivatives to meet the escalating demand which is further anticipated to propel the growth of the global benzaldehyde market in the region in the coming years.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Benzaldehyde Market Share Analysis

The global benzaldehyde market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global benzaldehyde market.

Some of the major players operating in the global benzaldehyde market are:

• Emerald Performance Materials (U.S.)
• GUANGZHOU SHINY CO., LTD. (China)
• Gujarat Alkalies and Chemicals Limited (India)
• Haihang Industry (China)
• YanAn Bicon (China)
• Jiangsu Jiamai Chemical Co., Ltd. (China)
• KADILLAC Chemicals Pvt. Ltd. (India)
• LANXESS (Germany)
• Lianyungang Taile Chemical Industry Co., Ltd. (China)
• Merck KGaA (Germany)
• Shimmer Chemicals Pvt. Ltd. (India)
• TCI AMERICA, Inc. (U.S.)
• Valtris Specialty Chemicals (U.S.)
• Hubei Kelin Bolun New Materials Co., Ltd (China)
• Lihai Chemical Industry Co., Ltd. (China)
• KLJ Group (India)
• Wuhan Dico Chemical Co., Ltd. (China)
• Axxence Aromatic GmbH (Germany)
• Shijiazhuang Langrong Chemical Co., Ltd. (China)
• Tokyo Chemical Industry Co., Ltd. (Japan)
• Jiangsu Jiujiu Jiu Technology Co., Ltd. (China)