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NEW YORK , Sept. 12, 2022 /PRNewswire/ -- The "Butyraldehyde Market by Type and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market size is expected to grow by USD 73.61 million between 2021 and 2026, expanding at a CAGR of 6.48% during the forecast period. The market is highly competitive without dominant players. The global butyraldehyde market is subject to intense competition among existing players in the market. Download PDF Sample Report
The market growth is primarily driven by the increasing demand for paints and coatings in the automotive industry. Economic growth in emerging countries and rising foreign investments have resulted in a rise in the per capita income of consumers. This has increased the purchasing power of consumers, which, in turn, is increasing the adoption of automobiles. Butyraldehyde finds many applications in paints and coatings used in the automotive industry. Therefore, the growth in the global automobile industry is expected to drive the demand for butyraldehyde during the forecast period.
As per Technavio, the growing use of butyraldehyde in the fragrance industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth.
Butyraldehyde is an important raw material used in the preparation of essence and perfume. It is The global fragrance industry is growing steadily owing to the rising demand for fragrances and perfumes from end-users. The industry is also driven by the growing importance of grooming and the increasing focus on lifestyles among consumers. All these factors are expected to have a positive impact on the growth of the global butyraldehyde market during the forecast period.
This market research report segments the butyraldehyde market by type (n-butanol, 2-ethylhexanol, polyvinyl butyral, and others) and geography (APAC, North America , Europe , South America , and the Middle East and Africa ).
By type, the market growth in the n-butanol segment will be significant over the forecast period. The segment is driven by the rising demand for paints and coatings applications in various end-user industries.
The APAC region led the butyraldehyde market in 2021, followed by North America , Europe , South America , and the Middle East and Africa respectively. During the forecast period, the APAC region is expected to register the highest incremental growth. The rising investment in the construction industry in developing countries such as India is driving the growth of the regional market. In addition, strategies adopted by vendors such as redesigning distribution channels, shifting to new innovative products, and adopting digital technologies in supply chain operations will spur the growth of the butyraldehyde market in APAC during the forecast period.
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here
Accelerate at a CAGR of 6.48%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Japan, Germany, and France
Leading companies, competitive strategies, consumer engagement scope
Aurochemicals, BASF SE, Beijing Yunbang Biosciences Co.Ltd., Eastman Chemical Co., Hebei Xinji Chemical Group Co. Ltd., KH Neochem Co. Ltd., Loba Chemie Pvt. Ltd., Merck KGaA, Mitsubishi Chemical Corp., National Analytical Corp., OQ SAOC, Otto Chemie Pvt. Ltd., Perstorp Holding AB, Saanvi Corp., Santa Cruz Biotechnology Inc., The Dow Chemical Co., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Toronto Research Chemicals Inc., and Xiamen Hisunny Chemical Co. Ltd
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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