Paraldehyde Market Size, Share, Growth, and Industry Analysis by Type (Pharmaceutical Grade, and Industrial Grade) By Application (Chemical Intermediates, Textile Industry, Rubber Industry, and Others) Regional Forecast to 2028

Updated On: 15 May 2023

Report Overview

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The global paraldehyde market size is expected to be worth USD 0.13 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the paraldehyde market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 0.18 billion by 2028, exhibiting a CAGR of 3.8% during the forecast period. The sudden surge in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A major aldehyde in the chemical industry is paraldehyde. This building block is used in the synthesis of a wide range of chemicals, pharmaceuticals, and polymers. Its has a pleasant smell and appears clear and colorless. 102°C is the boiling point of paraldehyde, 59°C is its melting point, and 0.985 g/mL is its density at 20°C. This is a cyclic trimer of acetaldehyde molecules. Basically, it is 1,3,5-trioxane with each carbon substituted with a methyl group. Metaldehyde is the corresponding tetramer.  Certain convulsive disorders can be treated with this chemical. Furthermore, it has been used to treat alcoholism and to calm or relax tense or nervous patients and induce sleep, as well as to treat nervous and mental illnesses. For the treatment of alcoholism and conditions related to the nervous system and mental health, it has generally been replaced by safer and more effective medicines. As a result of the reaction between this chemical and ammonia, urea is formed, which is an essential component of fertilizers. Additionally, pentaerythritol can be condensed with itself to produce explosives and varnishes.

By catalytic reduction of acetaldehyde, the French chemist Jean-Baptiste Dumas (1800-1884) first prepared paraldehyde in 1831. Currently, propylene glycol or trimethylene glycol are dehydrated to produce it on an industrial scale. More than 100 years ago, it was introduced into medical practice and used clinically as a sedative, hypnotic, and antiepileptic. As it oxidizes in the air, it turns brown and emits an acetic acid odor. Rubber and plastics are quickly affected by it. The solvent of this particular form of aldehyde is also used in resin manufacture, as a preservative, and in other processes.  As a starting material for formaldehyde, paraform, hexamethylenetetramine, and pentaerythritol, formaldehyde is used as a starting material. Colorless and flammable, industrial grade paraldehyde has a distinctive odor. Most organic solvents and water are miscible with it.

COVID-19 Impact: Halt on Chemicals & Advanced Materials to Hamper Market 

The COVID-19 outbreak has had a negative impact on the global economy, bringing various sectors to a halt. Companies in the paraldehyde production sector are facing a number of challenges as a result of various market downfalls following COVID-19.  Whether it be pharmaceutical, textile, or chemical industries, where it is used extensively, have  came into halt during the pandemic. For textile industry, here have been several production problems, cocoon and raw silk prices, transportation problems, nonavailability of skilled workers, sales of raw silk and silk products, working capital and cash flow problems, as well as restrictions on exports or imports. A huge impact has been had by COVID-19 on the pharmaceutical sector, disrupting supply chains from raw materials right up to delivery.  The ease of restrictions and lockdown is expected to give a positive impact for the paraldehyde market growth.

Latest Trends

"Increasing Demand of paraldehyde in the Rubber Industry to Drive the Market"

In the rubber industry, this chemical is used as a vulcanizing agent. It improves the elasticity and strength of the final product by cross-linking polymer chains. Synthetic rubber is also made with this aldehyde as a plasticizer and antiozonant. In addition, it accelerates the vulcanization of rubber. Due to its compatibility with most vulcanizing agents, it is a good choice for rubber manufacture.

Segmentations

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• By Type

The market is classified into pharmaceutical grade, and industrial grade based on type. The pharmaceutical grade segment will lead the paraldehyde market share throughout the forecast period.

• By Application

The market is classified into chemical intermediates, textile industry, rubber industry, and others on the basis of application. The  chemical intermediates segment will lead the paraldehyde market share throughout the forecast period.

Driving Factors

"Increasing Growth of Textile Industry to Drive the Market"

It has been a long time since paraldehyde started being used in the textile industry. Aldehydes, especially paraldehyde, are used to reduce the shrinkage and fulling of textile fabrics. Bleach and dye fixatives, as well as textiles with permanent press finishes, are manufactured with it. Fabrics may be treated at any stage of their manufacturing, namely in raw stock, skeins, woven or knitted pieces, as long as they are free or substantially free from all sizing materials, such as starch, glue, gum, natural resin compounds, etc. It is possible to overcome shrinkage of natural cellulose fibers mechanically, through a process called compressive shrinkage, provided that the fabrics treated in this way are not then stretched or stretched, which would negate the desired effect.

"Rising Demand of  Pharmaceutical Industry to Drive the Market"

Pharmaceutical demand drives the market. Paraldehyde is used for the manufacture of pharmaceutical equipments including syringes, etc. that is the products made of rubber which is another major driving factor of the market.  Pharmaceutical products are manufactured, packaged, and delivered using rubber materials. Syringes and multiple-dose vials typically have rubber stoppers. Apart from this, A variety of chemicals and drugs are produced using this chemical as a raw material. 

Restraining Factors

"Symptoms Associated Due to Overdose to Drive the Market"

The symptoms of paraldehyde overdose may be similar to those of chloral hydrate overdose, including coma, severe hypotension, respiratory depression, pulmonary edema, and cardiac failure. It is possible for this chemical to cause tolerance and physical and/or psychological dependence if used for a long time.

Regional Insights

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"North America to Lead the Market Owing to Rise in the Pharmaceutical Industry"

During the forecast period, North America is expected to be the leading market for paraldehyde. There are several leading companies in the paraldehyde market in this region, which has a well-established pharmaceutical industry. In the coming years, the region will see significant growth in the demand for this chemical due to the large number of generic drug manufacturers.

During the forecast period, Asia Pacific is expected to grow at the fastest rate, making it the 2nd biggest market for this chemical. This is due to the rapidly growing textile and rubber industries in countries such as China and India. Another factor driving the market is the extensive use of this chemical in industrial grade in these areas. Growth of rubber industry in various states of India is also a key driving factor of the market.

Key Industry Players

"Leading Players Adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolios and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the paraldehyde market.

List of Market Players Profiled

• Lonza(Switzerland)
• Godavari (India)
• Nuote Chemical (China)
• Bojing Chemical (China)
• Zhaofeng Chemical (China)

REPORT COVERAGE

In the report, factors affecting the market from both demand and supply are evaluated and market dynamics during the forecast period are also forecasted. Also included in the report is a comprehensive PEST analysis of countries, which assesses the governmental, financial, and shared factors influencing their markets. Apart from all of these, the report also provides drivers, restraints, opportunities, and future trends.