The North America Acetaldehyde Market would witness market growth of 4.5% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 196.25 Kilo Tonnes, showcasing a growth of 3.8% (2019-2022).
Technological advances significantly influence market trends for acetaldehyde. Innovations in manufacturing processes, catalyst development, and recycling technologies contribute to optimizing acetaldehyde production, making it more efficient and environmentally friendly. One of the prominent sectors where it finds extensive use is the chemical industry, serving as a precursor to producing acetic acid, pyridine, and pentaerythritol. Additionally, it plays a pivotal role in manufacturing resins, dyes, and flavors, further underlining its significance in the chemical landscape.
Additionally, it can be used in the production of paper-coating compounds. Coating compounds enhance the surface properties of paper, providing features such as smoothness, gloss, and ink adhesion. They contribute to the formulation of these compounds. It can be employed in chemical pulping processes. Chemical pulping is the process of separating cellulose from lignin in wood fibers through chemicals. It may play a role in specific chemical treatments during this process. It is utilized in the production of chemicals used in photographic paper. The demand for photographic paper, used in traditional and specialty photography applications, can influence the requirement for acetaldehyde.
As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada's personal care and beauty sector earned around $11 billion in revenue. With the expansion of the cosmetics industry, the need for effective preservatives increases, driving the use of acetaldehyde in Canada. The trend towards natural and organic cosmetics drives the use of bio-based and environmentally friendly ingredients, including those derived from acetaldehyde in Canada. Also, ITA estimates by 2024, cosmetic industry revenue is anticipated to increase by 1.45% yearly to USD 1.8 billion. Due to these aspects, the market will expand across the North America region in upcoming years.
The US market dominated the North America Acetaldehyde Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $369.3 million by 2030. The Canada market is experiencing a CAGR of 6.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6% during (2023 - 2030).
Based on Derivative, the market is segmented into Acetic Acid, Pyridine, Pyridine Bases, Pentaerythritol, Acetate Esters, Butylene Glycol, and Others. Based on Application, the market is segmented into Food & Beverage, Pharmaceuticals & Cosmetics, Chemicals, Paper & Pulp, Plastics & Synthetic Rubber, Paints & Coatings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., Solvay SA, Lonza Group Ltd., Arkema S.A., Merck KGAA, LCY CHEMICAL CORP., Jubilant Ingrevia Limited and Ashok Alco-chem Limited.
Technological advances significantly influence market trends for acetaldehyde. Innovations in manufacturing processes, catalyst development, and recycling technologies contribute to optimizing acetaldehyde production, making it more efficient and environmentally friendly. One of the prominent sectors where it finds extensive use is the chemical industry, serving as a precursor to producing acetic acid, pyridine, and pentaerythritol. Additionally, it plays a pivotal role in manufacturing resins, dyes, and flavors, further underlining its significance in the chemical landscape.
Additionally, it can be used in the production of paper-coating compounds. Coating compounds enhance the surface properties of paper, providing features such as smoothness, gloss, and ink adhesion. They contribute to the formulation of these compounds. It can be employed in chemical pulping processes. Chemical pulping is the process of separating cellulose from lignin in wood fibers through chemicals. It may play a role in specific chemical treatments during this process. It is utilized in the production of chemicals used in photographic paper. The demand for photographic paper, used in traditional and specialty photography applications, can influence the requirement for acetaldehyde.
As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada's personal care and beauty sector earned around $11 billion in revenue. With the expansion of the cosmetics industry, the need for effective preservatives increases, driving the use of acetaldehyde in Canada. The trend towards natural and organic cosmetics drives the use of bio-based and environmentally friendly ingredients, including those derived from acetaldehyde in Canada. Also, ITA estimates by 2024, cosmetic industry revenue is anticipated to increase by 1.45% yearly to USD 1.8 billion. Due to these aspects, the market will expand across the North America region in upcoming years.
The US market dominated the North America Acetaldehyde Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $369.3 million by 2030. The Canada market is experiencing a CAGR of 6.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6% during (2023 - 2030).
Based on Derivative, the market is segmented into Acetic Acid, Pyridine, Pyridine Bases, Pentaerythritol, Acetate Esters, Butylene Glycol, and Others. Based on Application, the market is segmented into Food & Beverage, Pharmaceuticals & Cosmetics, Chemicals, Paper & Pulp, Plastics & Synthetic Rubber, Paints & Coatings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., Solvay SA, Lonza Group Ltd., Arkema S.A., Merck KGAA, LCY CHEMICAL CORP., Jubilant Ingrevia Limited and Ashok Alco-chem Limited.
Scope of the Study
Market Segments Covered in the Report:
By Derivative (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Acetic Acid
- Pyridine
- Pyridine Bases
- Pentaerythritol
- Acetate Esters
- Butylene Glycol
- Others
- Food & Beverage
- Pharmaceuticals & Cosmetics
- Chemicals
- Paper & Pulp
- Plastics & Synthetic Rubber
- Paints & Coatings
- Others
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Celanese Corporation
- Eastman Chemical Company
- Sumitomo Chemical Co., Ltd.
- Solvay SA
- Lonza Group Ltd.
- Arkema S.A.
- Merck KGAA
- LCY CHEMICAL CORP.
- Jubilant Ingrevia Limited
- Ashok Alco-chem Limited
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Acetaldehyde Market by Derivative
Chapter 5. North America Acetaldehyde Market by Application
Chapter 6. North America Acetaldehyde Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Celanese Corporation
- Eastman Chemical Company
- Sumitomo Chemical Co., Ltd.
- Solvay SA
- Lonza Group Ltd.
- Arkema S.A.
- Merck KGAA
- LCY CHEMICAL CORP.
- Jubilant Ingrevia Limited
- Ashok Alco-chem Limited
Methodology
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