Acetone Market 2018 Booming Trends, Growth in CAGR Rate, Share, Forecast to 2023, Evolving Technology, Trends and Industry Analysis
Global Acetone Market Information by Application (Methyl Methacrylate, Bisphenol A, Solvent), by End Use (Pharmaceuticals, Personal Care, Paints & Coatings, Plastics, Construction, Electrical & Electronics), and Region- Forecast till 2023
Pune, India – November 6, 2018 /MarketersMedia/ —
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.
As per our analysis, direct solvent applications account for a large portion of world demand. MMA is having the second highest global market share and 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. Commercial, residential, and nonresidential construction, and remodeling are the largest markets for acrylic sheet. The construction, automotive, and computer segments are now seen as key growth markets by polycarbonate manufacturers. Some of the prominent market factors and trends identified in the global acetone market include rapid industrialization, rising demand for personal care products, and increasing expenditure on construction activities.
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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.
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 (the U.S.), Cepsa (Spain), Mitsui Chemicals, Inc. (China), Altivia (the 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
Moreover, demand for acetone is predicted to witness significant growth over the assessment period due to surging in plastics industry. Acetone is a derivative of petroleum production and rising crude oil usage across the globe is anticipated to be an important driver for acetone market during the review period. Increasing pharmaceutical production and sales along with rising consumption of medicines is estimated to fuel the growth of the market. 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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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.
Contact Info:
Name: Abhishek
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