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Crotonaldehyde Market Size
- Report ID: GMI6159
- Published Date: Jul 2023
- Report Format: PDF
Crotonaldehyde Market Size
Crotonaldehyde Market size was valued at around USD 412 million in 2022 and predicted to record over 4.5% CAGR from 2023 to 2032. Changing consumer tendencies, the growing demand for sorbic acid & food products with a longer shelf life in the food & beverage industry are a few factors contributing to crotonaldehyde demand. In the rubber industry, the demand for crotonaldehyde is majorly driven by factors such as rising requirement for tires, automotive components, and industrial rubber products.
In the pharmaceutical and chemical industries, crotonaldehyde is used as a building block for the synthesis of various intermediates and Active Pharmaceutical Ingredients (APIs). Factors including population growth, rising healthcare needs, and the increasing demand for specialty chemicals are propelling the growth of the pharmaceutical and chemical sectors, in turn, augmenting the demand for crotonaldehyde.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Crotonaldehyde Market Size in 2022: | USD 412 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.8% |
| 2032 Value Projection: | USD 612 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 165 |
| Tables, Charts & Figures: | 196 |
| Segments covered: | Grade, Application, End Use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Volatilities can occur in the cost & availability of raw materials used to produce crotonaldehyde such as propylene and acetaldehyde. Fluctuations in raw material prices can affect the profitability of crotonaldehyde manufacturers and subsequently impact the overall market growth. The production & handling of crotonaldehyde, a hazardous chemical, involves certain environmental & safety considerations. The strict regulations & requirements related to chemical handling, emissions, and waste disposal can increase compliance costs for manufacturers and lead to challenges in the crotonaldehyde market.
Crotonaldehyde is also subject to substitution threats from alternative chemicals or processes that offer similar functionalities. Substitution can occur due to regulatory changes, technological advancements, or the development of alternative products that provide comparable performances at lower costs. Effective supply chain management, which includes the sourcing of raw materials, transportation, and logistics, can be challenging, thereby impacting the overall market efficiency. The risks associated with advanced crotonaldehyde instruments may drive down the acceptance rate, further hampering business growth.
Frequently Asked Questions (FAQ) :
Crotonaldehyde Market Scope
