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As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Propionaldehyde Market to Grow at a Healthy Pace During 2020-2025, Aided by the Growing R&D Activities

According to a new report by EMR titled, ‘Global Propionaldehyde Market Report and Forecast 2020-2025’, the global market for propionaldehyde is being aided by the rising propionic acid industry, which is further expected to grow at a CAGR of 5% between 2020 and 2025 to attain USD 2 billion by 2025.

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 (2015-2019) and (2020-2025).
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the applications, end uses, and regional markets of propionaldehyde.
  • The report also gives the regional historical (2015-2019) and forecast (2020-2025) 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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