PUBLISHER: Grand View Research | PRODUCT CODE: 1679610
PUBLISHER: Grand View Research | PRODUCT CODE: 1679610
The global benzaldehyde market size is expected to reach USD 518.7 million by 2030 and is anticipated to grow at a CAGR of 5.6% during the forecast period, according to a new report by Grand View Research, Inc. This is due to the increasing demand for derivatives, which drives increased interest in certain compounds, such as cinnamic acid, benzoic acid, sodium benzoate, and benzyl alcohol, which are increasingly used in organic reactions to synthesize other chemicals. Consequently, the demand for these compounds is directly connected to the rising use of their derivatives in producing new compounds.
During the forecast period, the toluene oxidation process segment dominated the market with a revenue share of 39.9% in 2024. Its cost-effectiveness and high-yield efficiency drive this segment compared to other production methods. This process is widely adopted due to its ability to produce high-purity benzaldehyde, which is essential for fragrances, pharmaceuticals, and agrochemical applications. Growing industrial demand for sustainable and efficient chemical synthesis further supports the segment's expansion.
The benzoic acid segment dominated the market with a revenue share of 30.6% in 2024 during the forecast period. This segment is driven by its extensive use in food preservatives, pharmaceuticals, and the production of alkyd resins. Increasing demand for processed foods and beverages and the rising need for antimicrobial preservatives fuel market growth. In addition, stringent regulations on food safety and the expanding pharmaceutical industry further support the segment's expansion.
The growing demand from the pharmaceutical, fragrance, and agrochemical industries drives the North American market. The region benefits from strong industrial infrastructure, high consumer spending on personal care products, and advancements in organic chemical synthesis. Increasing agricultural activities and the need for crop protection chemicals further propel market growth. Some of the prominent market players include Lanxess AG, Axxence Aromatic GmbH, Gujarat Alkalies and Chemicals Limited, Emerald Kalama Chemical, Taile Chemical Industry, Co. Ltd., Valtris Specialty Chemicals, Kadillac Chemicals Pvt. Ltd., and Wuhan Dico Chemical Co., Ltd., and Ganesh Benzoplast Ltd.