Diacetone Alcohol Market – Market Overview
Diacetone Alcohol (DAA) is a derivative of alcohol with non-ethanol component. It is oxygenated solvent which can be produced synthetically by adol condensation of acetone. It can also be found in Achnatherum robustum, which is a plant also known as sleepy grass. Diacetone is highly pure, colourless, odourless and highly soluble with low evaporation rate. Owing to aforementioned properties, Diacetone Alcohol is used in paints and coatings, textile, automotive and oil & gas among others.
The Global Diacetone Alcohol Market is estimated to reach USD 1,594.5 million by 2023 with CAGR of 4.85%. The protuberant trends driving the market growth are rising demand of solvents in paints & coatings industry coupled with increasing awareness about personal hygiene and water treatment are expected to drive the market growth. Owing to easy solubility in water, oil and organic solvents, diacetone alcohol is essential in producing industrial and consumer solvents. Further, solvents occupy two third of market share in paints and coating industry. Moreover, rising regulatory pressure from government agencies such as EPA and REACH to lower emission of VOC from solvents is further anticipated to drive the market growth.
Among the application, solvents accounted for high market share in Global Diacetone Alcohol Market. Solvent segment is estimated to grow at CAGR of 5.70% owing to high water solubility. Diacetone alcohol is used as solvent for dyes and resin in textile and polymer processing like polyesters. However, solvents used in consumer products include adhesives, printing inks, paints, paint removers, household cleaners and agrochemicals. Furthermore, diacetone alcohol acts are chemical intermediate in manufacturing methyl isobutyl ketone (MIBK) and hexylene glycol. MIBK is also used in solvent which further improves the properties of similar application. It is also used in metal cleaning compounds, household cleaners, drilling fluids and preservatives. Among the end use industry, diacetone is divided into paints & coating, textiles, automotive, and oil & gas, among other industries. Paints and coatings is anticipated to reach USD 610 million by the end of 2023. Textile and automotive industry is estimated to closely follow paints & coating industry.
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The Global Diacetone Alcohol is segmented based on regions such as Asia Pacific, North America, Europe, Middle East & Africa and Latin America. Asia Pacific is dominating region and estimated to grow at CAGR 5.34% during forecast period. China is leading producer and consumer of diacetone alcohol and account for 48% of market share in this region. Rapid urbanization and changing standard of living has led to growth of household cleaner which in turn, anticipated to drive the Diacetone Alcohol Market. North America closely follows Asia Pacific region and account for second largest market share. It is estimated to reach USD 331.4 million by 2023 owing to rising construction activities which led to high demand of industrial solvents along with greater penetration of end use industries in the country. Europe witnessed substantial growth in Global Diacetone Alcohol Market. Growth in number of dual income household, coupled with increased disposable income has stimulate the growth of Diacetone Alcohol as cleaning application. Moreover, rising construction activities along with consumer awareness towards personal hygiene has anticipated to propel the Global Diacetone Alcohol Market.
Diacetone Alcohol Market – Competitive Analysis
Diacetone Alcohol market is fragmented market due to presence of small and medium sized active players in regional market. The key strategies adopted by major participants are either acquisition or production launch. Through acquisition company plans to expand its global footprint and augment the market share. The other strategies such as joint venture, collaboration or merger are expected to be adopted in coming years. Diacetone alcohol is niche segment having small market share. The key companies are also having collaboration across supply chain to minimise cost and achieve sustainable profit. Companies like Solvay and Arkema are leading companies in global diacetone market. Solvay S.A. holds leading position in Latin America for oxygenated solvents and phenol derivatives.
Industry/ Innovation/ Related News:
October 2015 – SGBio acquired Cobalt Technology assets for improving their position as leading developer of technology for n-butanol, acetone, ethanol and butene produced from natural ingredients like biomass. SGBio is joint venture between Solvay Group and GranBio. With this acquisition, company entering green development market or bio-technology market which would help raw materials supply in chemical industry.
October 2015 – Rhodia, a Solvay Group company launched Solsys brand for offering solutions to oxygenated solvents. The company operates a large portfolio of oxygenated solvents covering all environmental trends. With brand name Augeo oxygenated solvents based on renewable resources, catering most of the market like paints and varnishes.
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