[FURL=https://www.industryarc.com/Report/16000/propionaldehyde-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Propionaldehyde Market[/FURL] size is forecast to reach US$1.6 billion by 2027, after growing at a CAGR 4.8% during 2022-2027. Propionaldehyde is prepared by oxidizing 1-propanol with a sulfuric acid/potassium dichromate solution or using a rhodium catalyst in the hydroformylation process which combines ethylene and synthesis gas. Rapidly rising demand for propanal or propionaldehyde as a disinfectant and preservative in plastic and rubber manufacturing applications has raised the market growth. Generally, propionaldehyde is an organic compound that is used for the production of propanol and propionic acid.Key Takeaways
The European region dominated the propionaldehyde market due to the rising demand for propionaldehyde from various end-use industries such as pharmaceuticals, cosmetics, and other industries in economies such as UK, Germany, and France.
Globally, the increasing demand for propionaldehyde for manufacturing propionic acid, owing to rising demand from the chemical and pharmaceutical sectors is estimated to drive the growth of the propionaldehyde market in the projected period.
However, an increase in various harmful effects caused by the exposure of organic compounds such as propionaldehyde or propanal may create hurdles for the market growth in the projected period.
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Propionaldehyde Market Segment Analysis– By Geography
The Europe region held the largest share of more than 34% in the propionaldehyde market in 2021. Globally, the region's growth in the market is mainly due to the rising growth of the agriculture, pharmaceutical, personal care and cosmetics, and other end-use industries. For instance, According to the European Federation of Pharmaceutical Industries and Association, in 2019, Europe accounted for 22.9% of world pharmaceutical sales. According to IQVIA (MIDAS May 2020), 18.4% of new medicines launched during 2014-2019 were from the European market. Moreover, the increasing production of cosmetics and personal care products in the European countries has driven the demand for propionaldehyde.
Propionaldehyde Market Drivers
Increasing Production of Personal Care and Cosmetic Products Would Drive the Propionaldehyde market growth
Rising Usage of Propionaldehyde in the Healthcare Industry
Propionaldehyde Market Landscape
Major players in the propionaldehyde market are BASF SE, Eastman Chemical Company, Dow Chemical Company, China National Petroleum Corporation, Royal Dutch Shell Plc, Mitsui Chemicals Inc, LG Chem Ltd, Zhejiang Xinhua Chemical Co Ltd, Oxea GMBH, ISU Chemical Co Ltd., and Others
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