Benzaldehyde Market

Benzaldehyde Market for Aroma Chemicals, Pharmaceuticals, Agriculture, Coatings and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027

The increasing advancements in the manufacturing and chemical discharge sectors will present considerable growth opportunities for the benzaldehyde market. The rising use of benzaldehyde in developing aroma chemicals will have a positive impact on the growth of the global market. However, the fluctuating prices of crude oil and the strict regulations implemented by many countries on the use of chemicals may hamper the benzaldehyde market growth to a certain extent.

The agricultural sector in countries such as India and China is witnessing an increase in the consumption and sales of pesticides and herbicides. Furthermore, government bodies of several countries are taking initiatives to spread awareness about the use of pesticides and herbicides to reduce crop damage. As benzaldehyde is an important component used in the production of pesticides and herbicides, their increased use will bring substantial growth opportunities for the benzaldehyde market.

The use of FFC grade benzaldehyde products is increasing at a rapid rate. This grade of benzaldehyde is used for offering fragrance to hygiene and personal care products such as toiletries and soaps. Thus, the growing awareness about personal hygiene among the global populace propels the use of these products, eventually increasing the growth rate of the benzaldehyde market.

Benzaldehyde is used in the development of artificial cherry and almond flavors. Therefore, this aspect is likely to attract considerable growth avenues for the benzaldehyde market. Furthermore, the use of benzaldehyde in developing flavored chemicals such as cinnamaldehyde and cinnamic acid is expected to have a large impact on the growth of the benzaldehyde market.

The extensive demand for cosmetics and personal care products in the Asia Pacific region will enable it to emerge as a dominant growth-contributing region for the benzaldehyde market. The rise in disposable income of many individuals in the region and the growing urbanization due to massive rural-to-urban migration will bring profitable growth for the benzaldehyde market.

The competitive landscape of the benzaldehyde market is dominated by well-established players. The key players in the benzaldehyde market merge or acquire new companies to decrease the competitiveness. Furthermore, these players also enter into investment deals with numerous stakeholders. These factors create promising growth prospects for the benzaldehyde market.

Benzaldehyde: Description

  • The organic compound Benzaldehyde is used for the synthesis of other organic compounds such as dyes and coatings, flavors and fragrances, agrochemicals, and drug intermediaries. The demand for this compound is increasing from end user industries such as aroma chemicals, agriculture, and pharmaceuticals. This is boosting the global Benzaldehyde market. There are two grade categories of Benzaldehyde, namely food chemical codex (FCC) grade and technical grade. The FCC grade Benzaldehyde is used to give flavors such as almond or cherry.
  • The FCC grade Benzaldehyde is also used to give fragrances to toiletries and soaps. Thus, FCC grade Benzaldehyde enjoys steady demand. The technical grade Benzaldehyde is used as an intermediary during the production of odorants and flavoring chemicals. Thus, the growth of these end use industries is positively impacting the growth of the Benzaldehyde market.
global benzaldehyde market

To gauge the scope of customization in our reports Ask for a Sample

What are Key Growth Drivers of Global Benzaldehyde Market?

  • The manufacturers of benzaldehyde are highly recommended to invest in aroma chemicals application as based on our analysis aroma chemicals segment not only held a leading position in the market in 2018 but is projected to continue to account for significant amount of shares in the market in the coming years.
  • The growth of the aroma chemicals segment is linked to the high usage of Benzaldehyde for acquiring cherry and almond flavors artificially.
  • The compound is also being used to produce flavored chemicals such as cinnamaldehyde and cinnamic acid. In the agriculture sector, the use of Benzaldehyde for the production of various pesticides and herbicides is driving the segment towards growth, especially in India and China.

Get an idea about the offerings of our report from Report Brochure

What are Key Challenges for Global Benzaldehyde Market?

  • Crude oil market has been witnessing constant ups and downs and this has resulted in the fluctuation in the prices of crude oil. This is negatively impacting the growth of the global benzaldehyde market.
  • Another market challenge faced by players of the global benzaldehyde industry is the regulatory issues. Although benzaldehyde is important for food flavoring, there are set limits for its usage.
  • This is also restricting the demand for benzaldehyde. However, regulatory bodies are increasing this limit and this is likely to increase the demand for benzaldehyde.

Lucrative Opportunities for Players in Global Benzaldehyde Market

  • The global benzaldehyde market has been expanding on account of advancements in the field of chemical discharge and manufacturing, finds Transparency Market Research (TMR).
  • The competitive dynamics of the global benzaldehyde market have been changing in recent times.
  • The chemical industry offers lucrative growth opportunities, and this has prompted multiple entities to enter the global benzaldehyde market.
  • Moreover, the profit margins of benzaldehyde are wider as against other similar products, and this has also given a thrust to the growth of market vendors.
  • The forthcoming years shall be crucial for the newbie vendors, and it would be interesting to witness the course of the global benzaldehyde market.

Looking for Regional Analysis or Competitive Landscape in Benzaldehyde Market, ask for a customized report 

Asia Pacific to Dominate Global Benzaldehyde Market

  • Asia Pacific accounted for more than 50% of the market in 2018, thus emerging as a leading segment. The Asia Pacific market is anticipated to continue to lead in the market on account of the flourishing agriculture industry and high sales of beauty products.
  • The growing population and rise in disposable income are some of the factors which will ensure a continued growth of Asia Pacific in the coming years.
  • The North American and European markets for Benzaldehyde are projected to witness a moderate growth, while the Middle East and Africa is estimated to bear a slow growth in the coming years.

Leading Players in Global Benzaldehyde Market

  • The acquisition of smaller players in the global benzaldehyde market has resulted in consolidation of the position of the leading vendors. It is expected that the leading players in the benzaldehyde market would enter into investment deals with global stakeholders.
  • The global benzaldehyde market is also expected to witness the entry of amateur vendors in the market. Moreover, the ability of market players to attain supremacy with chemical research and development would largely define their growth graph.
  • Some of the leading vendors in the global benzaldehyde market are
    • Kadillac Chemicals Pvt. Ltd
    • Lanxess
    • Emerald Kalama Chemical
    • Shenyang Huijinfengda Chemical Co., Ltd.
    • Lanxess AG
    • .Jiangsu Jiamai Chemical Co., Ltd.,
    • Lianyungang Taile Chemical Industry Co., Ltd.

Global Benzaldehyde Market – Segmentation

TMR’s research study segments the global benzaldehyde market in terms of end user, and region. This report presents extensive market dynamics and growth trends associated with different segments and explains how they are influencing the growth of the global benzaldehyde market.

End User

  • Aroma Chemicals
  • Pharmaceuticals
  • Agriculture
  • Coatings
  • Others (Including Dyes, etc.)

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

    Chapter 1. Preface

        1.1. Report Description

        1.2. Market Segmentation

            1.2.1. Global Benzaldehyde Market Segmentation by End-user and Region

        1.3. Research Scope

        1.4. Assumptions

        1.5. Research Methodology

    Chapter 2. Executive Summary

        2.1. Global Benzaldehyde Market, 2018 - 2027 (Tons) (US$ Mn)

    Chapter 3. Benzaldehyde Market – Industry Analysis

        3.1. Introduction

        3.2. Value Chain Analysis

        3.3. Market Drivers

            3.3.1. Rising Demand in Aroma Chemicals Anticipated to Drive the Global Benzaldehyde Market

                3.3.1.1. Global Flavours and Fragrances Market, 2018 - 2027 (US$ Mn)

            3.3.2. Growth in Pharmaceutical Industry Projected to Drive Global Benzaldehyde Market

                3.3.2.1. Global Pharmaceuticals Market, 2018 - 2027 (US$ Bn)

            3.3.3. Increasing Demand in Agricultural (Agrochemicals) Applications Predicted to Drive Global Benzaldehyde Market

                3.3.3.1. Global Agrochemicals Market, 2018 - 2027 (US$ Bn)

        3.4. Restraints

            3.4.1. Volatility in Crude Oil Prices Expected to Restrain the Global Benzaldehyde Market

            3.4.2. Regulatory Issues are anticipated to Act as a Restraint for the Global Benzaldehyde Market

        3.5. Opportunities

            3.5.1. Scope of Capacity Expansion in Asia Pacific region to meet the Growing Demand from Emerging Economies such as India and China

        3.6. Porter’s Five Forces Analysis

            3.6.1. Bargaining Power of Suppliers

            3.6.2. Bargaining Power of Buyers

            3.6.3. Threat of New Entrants

            3.6.4. Threat of Substitutes

            3.6.5. Degree of Competition

        3.7. Market Attractiveness Analysis

            3.7.1. Benzaldehyde Market Attractiveness, by End-user, 2018

        3.8. Company Market Share Analysis

            3.8.1. Global Benzaldehyde Market Share, by Company, 2018

    Chapter 4. Raw Material and Price Trend Analysis

        4.1. Raw Material Analysis

        4.2. Raw Material Price Trends

            4.2.1. Toluene Price Trends, 2018 - 2027 (US$/Ton)

        4.3. Global Benzaldehyde Price Trends, by Grades, 2018 - 2027 (US$/Ton)

    Chapter 5. Benzaldehyde Market – End-user Analysis

        5.1. Global Benzaldehyde Market: Market Overview by End-user

            5.1.1. Global Benzaldehyde Market Volume Share, by End-user, 2019 and 2027

            5.1.2. Aroma Chemicals

                5.1.2.1. Global Benzaldehyde Market for Aroma Chemicals, 2018 - 2027 (Tons) (US$ Mn)

            5.1.3. Pharmaceuticals

                5.1.3.1. Global Benzaldehyde Market for Pharmaceuticals, 2018 - 2027 (Tons) (US$ Mn)

            5.1.4. Agriculture

                5.1.4.1. Global Benzaldehyde Market for Agriculture, 2018 - 2027 (Tons) (US$ Mn)

            5.1.5. Coatings

                5.1.5.1. Global Benzaldehyde Market for Coatings, 2018 - 2027 (Tons) (US$ Mn)

            5.1.6. Others (including dyes and resins)

                5.1.6.1. Global Benzaldehyde Market for Others, 2018 - 2027 (Tons) (US$ Mn)

    Chapter 6. Benzaldehyde Market - Regional Analysis

        6.1. Global Benzaldehyde Market: Regional Overview

            6.1.1. Global Benzaldehyde Market Volume Share, by Region, 2019 and 2027

        6.2. North America

            6.2.1. North America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

            6.2.2. North America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.2.3. U.S.

                6.2.3.1. U.S. Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.2.3.2. U.S. Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.2.4. Rest of North America

                6.2.4.1. Rest of North America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.2.4.2. Rest of North America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

        6.3. Europe

            6.3.1. Europe Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

            6.3.2. Europe Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.3.3. U.K.

                6.3.3.1. U.K. Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.3.3.2. U.K. Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.3.4. Germany

                6.3.4.1. Germany Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.3.4.2. Germany Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.3.5. France

                6.3.5.1. France Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.3.5.2. France Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.3.6. Spain

                6.3.6.1. Spain Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.3.6.2. Spain Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.3.7. Italy

                6.3.7.1. Italy Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.3.7.2. Italy Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.3.8. Rest of Europe

                6.3.8.1. Rest of Europe Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (tons)

                6.3.8.2. Rest of Europe Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

        6.4. Asia Pacific

            6.4.1. Asia Pacific Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

            6.4.2. Asia Pacific Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.4.3. China

                6.4.3.1. China Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.4.3.2. China Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.4.4. Japan

                6.4.4.1. Japan Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.4.4.2. Japan Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.4.5. ASEAN

                6.4.5.1. ASEAN Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.4.5.2. ASEAN Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.4.6. Rest of Asia Pacific

                6.4.6.1. Rest of Asia Pacific Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.4.6.2. Rest of Asia Pacific Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

        6.5. Latin America

            6.5.1. Latin America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

            6.5.2. Latin America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.5.3. Brazil

                6.5.3.1. Brazil Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.5.3.2. Brazil Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.5.4. Rest of Latin America

                6.5.4.1. Rest of Latin America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.5.4.2. Rest of Latin America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

        6.6. Middle East and Africa

            6.6.1.  Middle East and Africa Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

            6.6.2.  Middle East and Africa Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.6.3.  GCC

                6.6.3.1. GCC Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.6.3.2. GCC Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.6.4.  South Africa

                6.6.4.1. South Africa Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.6.4.2. South Africa Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

            6.6.5.  Rest of Middle East and Africa

                6.6.5.1. Rest of Middle East and Africa Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

                6.6.5.2. Rest of Middle East and Africa Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    Chapter 7. Company Profiles

        7.1. Emerald Performance Materials, LLC

        7.2. Gujarat Alkalies and Chemicals Limited (GACL)

        7.3. Kadillac Chemicals Private Limited

        7.4. LANXESS AG

        7.5. Shimmer Chemicals Pvt. Ltd.

        7.6. Lianyungang Taile Chemical Industry, Co., Ltd.

        7.7. Chematek S.p.A.

        7.8. Haihang Industry Co., Ltd.

        7.9. Wuhan Dico Chemical Co., Ltd.

        7.10. Nantong Tianshi Chemical Co., Ltd.

        7.11. Merck KGaA

        7.12. Shenyang Huijinfengda Chemical Co., Ltd.

        7.13. Jiangsu Jiamai Chemical Co., Ltd.

    Chapter 8. Primary Research – Key Findings

    List of Tables

    TABLE 1 Global Benzaldehyde Market: Snapshot

    TABLE 2 Drivers for Benzaldehyde Market: Impact Analysis

    TABLE 3 Restraints for Benzaldehyde Market: Impact Analysis

    TABLE 4 North America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 5 North America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 6 U.S. Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 7 U.S. Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 8 Rest of North America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 9 Rest of North America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 10 Europe Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 11 Europe Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 12 U.K. Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 13 U.K. Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 14 Germany Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 15 Germany Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 16 France Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 17 France Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 18 Spain Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 19 Spain Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 20 Italy Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 21 Italy Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 22 Rest of Europe Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 23 Rest of Europe Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 24 Asia Pacific Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 25 Asia Pacific Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 26 China Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 27 China Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 28 Japan Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 29 Japan Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 30 ASEAN Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 31 ASEAN Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 32 Rest of Asia Pacific Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 33 Rest of Asia Pacific Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 34 Latin America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 35 Latin America Pacific Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 36 Brazil Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 37 Brazil Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 38 Rest of Latin America Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 39 Rest of Latin America Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 40 Middle East and Africa Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 41 Middle East and Africa Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 42 GCC Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 43 GCC Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 44 South Africa Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 45 South Africa Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    TABLE 46 Rest of Middle East and Africa Benzaldehyde Market Volume, by End-user Segment, 2018 - 2027 (Tons)

    TABLE 47 Rest of Middle East and Africa Benzaldehyde Market Revenue, by End-user Segment, 2018 - 2027 (US$ Mn)

    List of Figures 

    FIG. 1 Global Benzaldehyde Market Segmentation by End-user and Region

    FIG. 2 Global Benzaldehyde Market, 2018 - 2027 (Tons) (US$ Mn)

    FIG. 3 Benzaldehyde Market: Value Chain Analysis

    FIG. 4 Global Flavours and Fragrances Market, 2018 - 2027 (US$ Mn)

    FIG. 5 Global Pharmaceuticals Market, 2018 - 2027 (US$ Bn)

    FIG. 6 Global Agrochemicals Market, 2018 - 2027 (US$ Bn)

    FIG. 7 Porter’s Five Forces Analysis for Benzaldehyde Market

    FIG. 8 Benzaldehyde: Market Attractiveness, by End-user, 2018

    FIG. 9 Global Benzaldehyde Market Share, by Company, 2018

    FIG. 10 Global Benzaldehyde Market Volume Share, by End-user, 2019 and 2027

    FIG. 11 Global Benzaldehyde Market for Aroma Chemicals, 2018 - 2027 (Tons) (US$ Mn)

    FIG. 12 Global Benzaldehyde Market for Pharmaceuticals, 2018 - 2027 (Tons) (US $ Mn)

    FIG. 13 Global Benzaldehyde Market for Agriculture, 2018 - 2027 (Tons) (US$ Mn)

    FIG. 14 Global Benzaldehyde Market for Coatings, 2018 - 2027 (Tons) (US$ Mn)

    FIG. 15 Global Benzaldehyde Market for Others, 2018 - 2027 (Tons) (US$ Mn)

    FIG. 16 Global Benzaldehyde Market Volume Share, by Region, 2019 and 2027

Copyright © Transparency Market Research, Inc. All Rights reserved