How is China's benzaldehyde market supply and demand evolving?

How is China's benzaldehyde market supply and demand evolving?
China's benzaldehyde market has grown steadily. Domestic production reached about 47,000 tonnes in 2021, with a compound annual growth rate of 11.9% from 2017 to 2021. Apparent domestic demand was 35,400 tonnes in 2021, while exports surged from 1,000 tonnes to 12,100 tonnes over the same period, an 86.5% CAGR. Industry operating rates were around 72.3% in 2021. Key downstream sectors—pharmaceutical intermediates, flavors and fragrances—account for over 62% of demand. With global capacity estimated at 175,000 tonnes and China at 65,000 tonnes, export growth is expected to continue as overseas demand rises. Domestic producers are expanding, and future price trends will hinge on feedstock toluene costs and downstream consumption growth in healthcare and personal care sectors.