Acetone Market Growth Model by Top 10 Companies, Developments Factors, Application, Size, Share, Outlook to 2023

“Acetone”
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, 2018 to 2023 by virtue of extending paints and coatings and construction industries.

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.

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Global Top 10 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

Intended Audience:

  • Acetone manufacturers
  • Traders and Distributors of acetone
  • Production Process Industries
  • Potential Investors
  • Raw Material Suppliers
  • Nationalized Laboratory

Acetone is a clear, colorless, volatile fluid with a sweet scent. Acetone is most commonly prepared by means of cumene peroxidation, as a coproduct with phenol. Its fundamental substance in the production of acetone cyanohydrin for methyl methacrylate (MMA), bisphenol A (BPA). It has applications such as heavy metal degreaser, cleaning tools and chemical peeling in the pharmaceuticals, personal care, paints & coatings, plastics and construction end use industries. Acetone is used in the production of methyl methacrylate which is in turn an intermediate in the production PVC (Poly Vinyl Chloride) where it is used in the manufacture of plastics.

Acetone is used in the production of polycarbonate which is a raw material in the manufacturing of insulation for electrical & electrical applications. MMA is used in the manufacture of acrylic sheet used in the construction industry. Bisphenol A is a raw material for the production of epoxy and polycarbonate resins. Acetone due to high solvency and a high rate of evaporation. It can be found in many everyday products including paints, cleaning fluids, nail polish remover, and adhesives.

North American acetone market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. & Canada is predicted to be the major contributors in the regional growth of acetone market and is expected to see a significant demand for acetone during the forecast period, 2017 to 2023. Increasing demand for electrical & electronic appliances and pharmaceuticals are the factors driving the market.  In Europe, the demand for acetone is predicted to grow in various countries such as Italy, Germany, Spain, UK, France, and Russia on account of increasing expenditure in innovation in health care and cosmetic products and growing purchasing power of consumers. Heavy investment in healthcare in order to provide public service, there is an opportunity for the pharmaceuticals manufacturers and suppliers to sell their products in this region.

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As acetone solvent is majorly used in the manufacturing of medicines, it is anticipated that this factor will drive the acetone market in the forecast period in this region. In the Middle East, demand for construction and paints & coatings industries are boosting the acetone market in the forecast period. Saudi Arabia and the U.A.E has positioned themselves as a travel hub will positively affect the present and future construction activities. As acetone solvent is widely used in the paints and coatings, which is anticipated to be the major driver in the forecast period. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in isoprene. Moreover there is a political crisis in the emerging economies of this region. Financial debt of these countries has crossed their earnings is the major restraint for the acetone market to grow in the forecast period.

 

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