Acetone Market to Grow at a CAGR of 5.0% through 2026.

Veröffentlicht von: Future Market Insights
Veröffentlicht am: 11.07.2017 11:48
Rubrik: Handel & Wirtschaft

(Presseportal openBroadcast) - Acetone, also known as dimethyl ketone, is a colourless, clear, and a volatile liquid mainly used as a chemical intermediate in the manufacture of bisphenol-A (BPA), methyl methacrylate (MMA), and aldol chemicals. It is also used as a direct solvent in various applications including paints and coatings, printing inks, adhesives, nail polish removers, and other skin care products. Acetone is a by-product of phenol and is produced via cumene peroxidation process, which involves the reaction of propylene and benzene. The global consumption of acetone was estimated to be approximately 6.1 million tons in 2015 and is projected to register a CAGR of 5.0%, reaching a market value of US$ 7.3 Bn by the end of the forecast period (2016-2026).
Rising demand for Methyl Methacrylate (MMA) to be a major growth driver for the global acetone market
Rising demand of MMA to produce polymethyl methacrylate (PMMA) resins, used in the electronics and automotive industry is a major driving factor for growth of the global acetone market. Polycarbonate plastic and epoxy resins, derived from bisphenol-A (BPA), which are used to produce food cans, water bottles, and other consumer goods are expected to surge the demand for acetone over the forecast period. By 2016 end, 23.5% revenue share of the global acetone market is expected to come from the BPA segment and the segment is anticipated to register a value CAGR of 4.8% over the forecast period. However, development of green solvents and bio based solvents are emerging as a substantial replacement for acetone and increasing use of water based solvents in paints and coatings may hamper the growth of the global acetone market.
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Market Segmentation
By Application
Methyl Methacrylate (MMA), Bisphenol-A, Solvents, Others (Aldol chemicals, etc.).
By End-Use Industry
Chemical and allied products - Agricultural chemicals, Paints and coatings, Rubber processing, Polymer and resin processing, Adhesives, Printing Ink. Pharmaceutical drugs, Cosmetics and personal care use.
By Region
North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, Middle East and Africa.
Solvents application segment is estimated to register a CAGR of 5.3% over the forecast period
Acetone is one of the most common industrial solvents used in various end use industries including chemical, pharmaceutical, cosmetics, etc. It is a fast evaporating solvent used in paints and coatings, adhesive manufacturing, and formulation of printing ink to dissolve the binder. The solvents segment is estimated to register a CAGR of 5.3% over the forecast period, creating a total incremental opportunity of US$ 1,169.3 Mn between 2016 and 2026.
Chemical and allied products end-use industry segment is likely to dominate the global acetone market
The Chemical and allied products segment is projected to register a growth rate of 5.1% in terms of value over the forecast period. The segment is also expected to hold disproportionately large shares in the global acetone market throughout the forecast period, accounting for 80.4% of the total incremental opportunity created between 2016 and 2026.
Acetone Market Press Release :
Consumption of acetone in APEJ is set to register the fastest CAGR of 5.9% during 2016-2026
The APEJ acetone market accounted for 39.8% share of the global acetone consumption in 2015 and is projected to increase at the fastest CAGR of 5.9% over the forecast period. The acetone market in North America and Western Europe is expected to be relatively mature as compared to that of the APEJ market over the forecast period. Demand for acetone in the MEA region is expected to be driven by the construction industry.
Key players are rapidly expanding their acetone production capacities, mainly in the APEJ region
Major players operating in the global acetone market include INEOS Phenol, Royal Dutch Shell PLC, Sasol, The Dow Chemical Company, Mitsui Chemicals, Inc., Hindustan Organic Chemicals Limited, Domo Chemicals, Honeywell International, Inc., Formosa Chemicals and Fiber Corporation, and CEPSA Quimica. Key players are strategically increasing their capacities worldwide through plant expansion and new acetone plant installation mainly in the Asia Pacific, to address the growing regional demand for acetone.



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