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2021
Propionaldehyde Market

Propionaldehyde Market: Global Opportunity Analysis and Industry Forecast, 2021-2028

A11491
Pages: NA
Dec 2021 | 341 Views
   
Author(s) : Eswara Prasad
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COVID-19

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Propionaldehyde Market Outlook – 2028

Propionaldehyde, commonly known as propanol, is an organic compound and an isomer of acetone, primarily used in production of cosmetics, personal care products, and basic chemicals. In general, propionaldehyde is produced by hydro formylation reaction, which involves reacting synthesis gas, such as hydrogen and carbon monoxide, with ethylene in the presence of a metal catalyst, mostly rhodium. In the presence of air, propionaldehyde is easily oxidized or reduced, resulting in a variety of addition reactions. As a result, propionaldehyde must be stored with extreme caution. In the chemical industry, it is used for manufacturing of basic chemicals, organic chemicals, agriculture chemicals, pesticides, and fertilizers. The demand for fertilizer and pesticides is growing rapidly ultimately resulting in the surge in demand for propionaldehyde. Propionaldehyde is used in the pharmaceutical industry to make essential ingredients, organic chemicals, industrial chemicals, pesticides, and fertilizers. Furthermore, the growing pharmaceuticals industry and rising demand for propionaldehyde in various applications, such as perfume, plastics, and polyols, are the major driving factors. However, due to its flammability, it is subject to stringent storage and transportation regulations, which are expected to be major restrictions on the global propionaldehyde market expansion.

Scope of the report

Report Metric

Details

  Market size available for years

  2019–2028

  Base year considered

  2020

  Forecast period

  2021–2028

  Forecast unit

  Value (USD)

  Segments covered

  Application, End User, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

DuPont, Eastman Chemical Company, BASF SE, Celanese, Perstorp Holding AB, Eastman Chemical Company, The Dow Chemical Company, Zibo Nuoao Chemical Co., Ltd., and OXEA Corporation

 

COVID-19 scenario analysis

  • The COVID-19 pandemic affected the trade activities and the ongoing restriction on movement, which hampered the productivity rate of the propionaldehyde market. 
  • In addition, insufficiency of raw materials for the production will cause temporary downfall.
  • The sharp increase in demand for pharmaceuticals amidst the COVID-19 pandemic is anticipated to boost the product demand over the forecast period.
  • Reductions in global travel and other restrictions continue to limit air shipping options and reduce overall capacity.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Propionaldehyde is used in the chemical industry to make essential ingredients, organic chemicals, industrial chemicals, pesticides, and fertilizers. Significant growth of the chemical industry and rising demand for pesticides and fertilizers in the agriculture sector are increasing the demand for propionaldehyde, thereby boosting the growth of the propionaldehyde market. Propionaldehyde is used for producing aroma chemicals that are used in perfumes and fragrances at home and personal care industry. Moreover, increased standard of living is driving the demand for propionaldehyde. Furthermore, propionaldehyde is used as a chemical intermediate in many pharmaceutical products and is used in the production of basic chemical products. Propionaldehyde is a chemical intermediate that is used to make propionic acid and alkyd resins. Pharmaceuticals, plasticizers, plastics, flavorings, rubber additives, and cellulose are only a few of the uses for propionaldehyde. Growing awareness of personal hygiene and increasing demand for agricultural chemicals are driving the growth of the propionaldehyde market. Furthermore propionaldehyde is used for manufacturing PPE kit, which is used as protecting equipment in COVID-19, further boosting the growth of the propionaldehyde market. However, fluctuating prices of raw material are hindering the growth of the propionaldehyde market.

The Asia-Pacific region dominates the global propionaldehyde market in terms of supply and consumption. The APAC region is experiencing rapid growth in pharmaceuticals, plastics, and chemicals, and the growing demand for propionic acids has converted into rising demand for propionaldehyde.

Key segments covered

Segment

Sub-segment

  Application

  • Fragrance Intermediate
  • Chemical Intermediate

  End User

  • Chemicals
  • Polymer & Plastic
  • Rubber
  • Pharmaceuticals
  • Perfume industry
  • Paint & Coatings
  • Others


Key benefits of the report

  • This study presents the analytical depiction of the global propionaldehyde market along with the current trends and market estimation to determine the imminent investment pockets.
  • The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the propionaldehyde market share.
  • The current market is quantitatively analyzed from 2019 to 2028 to highlight the propionaldehyde market growth scenario.
  • The report provides a detailed propionaldehyde market analysis depending on competitive intensity and the competition in the coming years.
  • This report helps users in comprehending the key product segments.

Questions answered in the global propionaldehyde market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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