Acetone Market Growth, Share, Size, Trends and Forecast (2021 - 2027)
Market Overview:
Acetone is a clear, colorless, and volatile fluid
with a sweet aroma. The major route for production acetone is by cumene
peroxidation where phenol is obtained as a secondary product. The major
application of acetone is in the production of acetone cyanohydrin for methyl
methacrylate (MMA), bisphenol A (BPA). The other applications include heavy
metal degreaser, cleaning tools and chemical peeling in pharmaceuticals,
personal care, paints & coatings, plastics and construction end use industries.
Acetone has characteristics such as high solvency and a high rate of
evaporation which enable them to find their application in many everyday
products including paints, cleaning fluids, nail polish remover, and adhesives
In the present scenario, direct solvent applications
have a higher share in the global acetone market. MMA is having the second
highest global market share followed by bisphenol A. The largest end use for
MMA is PMMA (polymethyl methacrylate). PMMA resins are used to produce acrylic
sheet and acrylic molding and extrusion compounds. These resins have major
applications in the construction, automotive, and computer segments are now
seen as key growth markets by polycarbonate manufacturers. The important
positive impacting factors for acetone market growth are surge in global
industrialization, increasing demand for personal care products, and increasing
government investments in construction projects. Moreover, demand for acetone
is anticipated to observe significant growth over the review period owing to
increasing demand in plastics industry. Furthermore, rapid urbanization coupled
with increasing disposable income in emerging economies is predicted to propel
the growth of the market during the assessment period, 2017 to 2023.
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Segmentation
The global acetone market is categorized on the
basis of application, end use industry, and region. On the basis of
application, the acetone market is categorized into methyl methacrylate,
bisphenol A, and solvent. On the basis of end use industry, the market is
segmented into pharmaceuticals, personal care, paints & coatings, plastics,
construction and electrical & electronics. On the basis of region, the
market is categorized into Asia Pacific, Europe, Latin America, North America,
and the Middle East & Africa.
Regional Analysis
The worldwide Acetone Market comprises of five areas:
Asia Pacific, Europe, Latin America, North America, and the Middle East and
Africa. Among these, Asia Pacific is anticipated to develop with the most
astounding CAGR amid the survey time frame, 2017 to 2023 by virtue of extending
paints and coatings and construction industries. Rising white collar class
populace and their increasing expenditure on enhancing the living standards for
everyday comforts is required to increment more in the time frame, 2017 to
2023. The acetone market is anticipated to increment in various nations of the
Asia Pacific, for example, China, India, Japan and Indonesia because of
expanding urbanization and populace is expected to drive the market in the
estimate time frame.
North American acetone market is anticipated to
witness a huge development by virtue of high acetone consumption potential,
expanding production capacities, and rising monetary development rate.
Expanding interest for electrical and electronic appliances and pharmaceuticals
are the elements driving the market. In Europe, the interest for acetone is
anticipated to develop in different nations, such as, Italy, Germany, Spain,
U.K, France, and Russia by virtue of expanding use in advancement in health
care and cosmetic products and increasing purchasing power of consumers. In the
Middle East, interest for construction and paints & coatings industries are
boosting the acetone market in the review period. As acetone solvent is broadly
utilized as an integral part in paints and coatings, it is foreseen to be the
real driver in the assessment period. Latin American nations, such as,
Argentina, Colombia, and Brazil are having political emergency in the rising
economies of this area. Money related obligation in these nations has crossed
their income which is the real restriction for the acetone market to develop in
the forecast period.
Key Players
Some of the prominent players operating in the
global acetone market are INEOS (Switzerland), The Royal Dutch Shell plc (the
Netherlands), The Dow Chemical Company (U.S.), Cepsa (Spain), Mitsui Chemicals,
Inc. (China), Altivia (U.S.), LCY GROUP (Taiwan) Formosa Chemicals & Fiber
Corporation (China), Prasol Chemicals Pvt. Ltd. (India) and EMCO Limited
(India) among others
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