The Latin America, Middle East and Africa Acetaldehyde Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 132.86 Kilo Tonnes, showcasing a growth of 6.9% (2023-2030).
The packaging industry extensively uses plastics and coatings derived from acetaldehyde, is a significant driver. The market expansion is supported by consumer demand for creative and sustainable packaging options. The beverage and food industries are major consumers of plastic packaging. It produces polyethylene terephthalate (PET) bottles for soft drinks, water, and various beverage products. The growth of the beverage and food packaging sectors can contribute to the market's expansion. It produces rigid plastic packaging, including containers for personal care products, household chemicals, and pharmaceuticals.
Furthermore, it has applications in producing materials used in the automotive sector, such as polyurethane foams. The growth in automotive manufacturing activities globally contributes to the demand for these chemicals. It is a key component in producing adhesives and sealants in automotive assembly. These fibers contribute to manufacturing carpets, seat covers, and other textile components in vehicles. Acetaldehyde-derived materials are used to produce soundproofing and insulation materials for vehicles. These materials help reduce noise and vibrations, enhancing the overall driving experience.
Acetaldehyde-related products are used in producing coatings for automotive finishes in Saudi Arabia. The demand for high-quality and durable coatings is essential for maintaining the appearance and protection of vehicles in Saudi Arabia. According to the International Trade Administration, in 2020, Saudi Arabia accounted for nearly 52% of all vehicles sold in the Gulf Cooperation Council (GCC) and 35% in the MENA region. In Saudi Arabia, 556,000 vehicles were sold in 2019 and 436,000 in 2020. Sales are anticipated to reach 543,000 units by 2025, with only 32,000 units being electric vehicles. The factors mentioned above will drive the regional market growth.
The Brazil market dominated the LAMEA Acetaldehyde Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $66.5 million by 2030. The Argentina market is showcasing a CAGR of 7.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.7% during (2023 - 2030).
Based on Derivative, the market is segmented into Acetic Acid, Pyridine, Pyridine Bases, Pentaerythritol, Acetate Esters, Butylene Glycol, and Others. Based on Application, the market is segmented into Food & Beverage, Pharmaceuticals & Cosmetics, Chemicals, Paper & Pulp, Plastics & Synthetic Rubber, Paints & Coatings, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Acetaldehyde Market is Projected to reach USD 2.6 Billion by 2030, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Celanese Corporation, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., Solvay SA, Lonza Group Ltd., Arkema S.A., Merck KGAA, LCY CHEMICAL CORP., Jubilant Ingrevia Limited and Ashok Alco-chem Limited.
By Derivative (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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