Propionaldehyde (Propanal) is an organic compound with the formula CH3CH2CHO. Propionaldehyde is a colorless liquid with a pungent and fruity odor. It is used in cosmetics, home and personal care products, and pharmaceutical industries.
Increasing adoption of propionaldehyde from various end-use industries such as chemicals, pharmaceuticals, cosmetics and others, expected to drive growth of the propionaldehyde market over the forecast period. However, safety regulatory framework may hamper demand and restrain growth of the target market. In addition, increasing investments in R&D activities to develop novel applications and products based on propionaldehyde, is an opportunity for growth of the target market in coming years to certain extent.
The global propionaldehyde market has been segmented on the basis of application, end-use industry, and region. On the basis of application, the target market is segmented into fragrance intermediate and chemical intermediate. On the basis of end-use industry, the target market is segmented into chemicals, home and personal care, pharmaceuticals, paint and coatings, and others. The other segment is further bifurcated into fertilizers, polymer & plastic, rubber, and cosmetic industries.
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On the basis of region, the global propionaldehyde market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounted for the major share in terms of revenue and is expected to dominate the propionaldehyde market over the forecast period, owing to increasing adoption of propionaldehyde based products from various end-use industries such as home and personal care, and pharmaceuticals in developing economies in the region. The propionaldehyde market in the North America is anticipated to witness a significant growth in terms of revenue over the forecast period. The Europe propionaldehyde market is projected to register a moderate share in terms of revenue in coming years.
Key players operating in the global propionaldehyde market include BASF SE, Eastman Chemical Company, Perstorp Holding AB, Merck KGaA, Thermo Fisher Scientific, Zibo Nalcohol Chemical Co., Ltd., OXEA Corporation, Celanese Corporation, Santa Cruz Biotechnology, Inc., and CAMEO Chemicals.