Celanese (US) and Merck KGaA (Germany) are the Key Players in the Acetaldehyde Market
The acetaldehyde market is estimated at USD 1.33 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, at a CAGR of 6.24% during the forecast period. This growth can be attributed to the increasing demand for acetaldehyde in the food & beverage and water treatment applications. In addition, the demand for high-quality derivative products in emerging economies is another significant factor contributing to the growth of the acetaldehyde market.
Expansions was the primary growth strategy and acquisitions and agreements were key growth strategies adopted by leading industry players between 2013 and 2017 to strengthen their footholds in the acetaldehyde market. The acquisitions strategy has been adopted by companies operating in this market to enhance their product portfolios.
Expansions was the most adopted strategy by companies in the Asia Pacific and European regions. Key players, such as Celanese (US), Eastman (US), Merck KGaA (Germany), Sumitomo (Japan), Sekab (Sweden), Showa Denko (Japan), Jubilant Life Sciences (India), Lonza (Switzerland), LCY Chemical (Taiwan), and Ashok Alco-chem (India) focus on expanding their customer base in various regions worldwide. These companies have adopted organic and inorganic growth strategies, such as expansions, mergers & acquisitions, and agreements, to enhance their market positions.
Celanese is a leading technology and specialty materials company and key global manufacturer of acetaldehyde products. Acetaldehyde is manufactured under the acetyl intermediates business segment and is used for the manufacture of chemicals, rubber, food & beverage, pharmaceuticals, and other applications. The company focuses on maintaining its leading position by providing new products with enhanced performance using advanced technologies. Celanese announced capacity expansion for the production of acetic acid and Vinyl Acetate Monomer (VAM) in North America. As acetaldehyde is used for the production of acetic acid, this expansion is expected to contribute significantly to the growth of the acetaldehyde market in North America.
Merck KGaA offers acetaldehyde through its life science business segment. Merck is a leading supplier of acetaldehyde to the global life sciences industry and operates through a network of nearly 200 companies in more than 65 countries, globally. It provides solutions and services for research, development, and production of biotechnology and pharmaceutical drug therapies. Merck acquired Sigma-Aldrich for USD 17 billion in November 2015. This acquisition brought together the products and services and innovative capabilities of Merck Millipore and Sigma-Aldrich and helped Merck to emerge as a global leader in the life sciences industry.
Related Reports:
Acetaldehyde Market by Process (Wacker Process, Oxidation of Ethanol, Dehydrogenation of Ethanol), Derivative (Pyridine & Pyridine Bases, Pentaerythritol), Application (Food & Beverage, Chemicals, Paints & Coatings), and Region - Global Forecast to 2022
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