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Propionaldehyde is used in a variety of industries and applications to manufacture a wide range of products used every day at home, work, or leisure. The growing R&D activities are expected to further aid the market growth. Perstorp Holding AB, a world leader in several sectors of the specialty chemicals market and a key player in the industry, utilises propionaldehyde in the production of Perstorp’s Bis-MPA. Bis-MPA or dimethylolpropionic acid is a major raw material in polyurethane dispersion for coatings. It is also utilised in waterborne alkyds, photographic chemistry, and polyesters. These chemicals are further utilised to produce various end-use products.
Meanwhile, the increasing production of protective face shields for medical personnel and the general population to prevent the spread of COVID-19 is driving the demand for specialty plastics. Plastics form one of the major applications of propionaldehyde. Eastman (NYSE: EMN), a key industry player, along with LAMINEX collaborated with MADiT and GEA Hospital to offer innovative, protective face shields during COVID-19 pandemic. The demand for these protective equipment is expected to remain strong for the next few years, which is anticipated to contribute to the industry growth in the forecast period. Further, with the outbreak of the pandemic, there has been a surge in demand for pharmaceuticals and increasing R&D activities, which is expected to provide a boost to the industry growth.
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The major players in the global propionaldehyde market are BASF SE, Eastman Chemical Company, Perstorp Holding AB., and Zibo Nuoao Chemical Co., Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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