NEW YORK, November 21, 2016 /PRNewswire/ --
Robust expansion of chemical manufacturing industries, coupled with rising application for acetaldehyde and its derivatives in various downstream industries to boost growth in India acetaldehyde market over the next decade
According to the recently published TechSci Research report "India Acetaldehyde MarketStudy, 2011 - 2025", the acetaldehyde market in India is projected to exhibit a CAGR of 2.53% during 2016 - 2025, owing to rising application in chemical manufacturing industries. Moreover, growing application of acetaldehyde in variousmanufacturing industries such as chemicals, perfumes, dyes, drugs, rubber, paper, food processing etc.,is further boosting demands for acetaldehyde in India. Rapid growth of chemicals manufacturing industries coupled with rising application of the acetaldehyde and its intermediates in dyes, paints, drugs, rubber and tannin solvents manufacturing industries are expected to drive India acetaldehyde market in the coming years.
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Acetaldehyde is majorly used as key substrate to produce various industrial chemicals such as pyridine and pyridine bases, pentaerythritol, acetate esters, acetic acid, ethyl acetate, n-butyl alcohol etc. It also acts as preservatives & flavouring agent in food processing and drugs manufacturing industries. Moreover, acetaldehyde is one of the most widely used organic solvent in paper, rubber and tanning industries. Rapid growing chemical industries is further propeling consumption of acetaldehyde and it's derivatives in various manufacturing industries. In 2015, India chemical market stood at USD144 billion and is the third largest producer of chemicals in Asia.Acetaldehyde is one of the prime ingredient used in dyes intermediates and India accounted for a market share of 16% in global of dyes market. Moreover,the market is expected to continue to grow further in the coming years, which is anticipated to boost consumption of acetaldehyde in dyes manufacturing industries during the forecast period.
"Pyridine and pyridine bases chemical manufacturing industry is the leading consumer of acetaldehyde in India. Moreover,organic aromatics, speciality chemicals, rubber solvent industries are some other end use industries, which widely use acetaldehyde as a key substrate for their manufacturing purposes. Increasing industrialisation and rapidly growing manufacturing industries are further expected to drive India acetaldehydemarket through 2025." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India AcetaldehydeMarket Study, 2011 - 2025", has analyzed the potential of the acetaldehyde market in India and provides statistics and information on market sizes, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers and key challenges faced by India acetaldehyde market.
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