Global Propionaldehyde Market to Grow at a Healthy Pace During 2021-2026, Aided by the Growing R&D Activities

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.

Market Breakup by Application, End-Use, and Region:

• On the basis of application, the industry has been categorised into pesticides, plastics, flavours and fragrance, rubber chemicals, and cellulose alkyd resins, among others.
• Based on end-use, the industry is divided into agriculture, food and beverage, home and personal care, cosmetics, and pharmaceuticals, among others. 
• Region-wise, the global market for propionaldehyde can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The thriving home and personal care and pharmaceutical sectors are aiding the growth of the propionaldehyde industry globally.
• The industry is being driven by the growing demand for propionaldehyde from downstream application sectors, including flavours and fragrances, pesticides, and plastics. 
• The increasing investments in the R&D activities by the manufacturers and rapid technological advancements are further propelling the market growth.
• The growing global population and growth of the agricultural sector are also accelerating the growth of the industry. 

Key Offerings of the Report:

• The EMR report gives an overview of the global market for propionaldehyde for the periods (2016-2020) and (2021-2026).
• The report also offers historical (2016-2020) and forecast (2021-2026) market information for the applications, end uses, and regional markets of propionaldehyde.
• The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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