According to ChemAnalyst report, “Global Acetone Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Acetone market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 5.65% during the forecast period. Increasing demand of biodegradable, environmentally friendly and non-toxic materials from consumers is anticipated to increase the demand of acetone due to its eco-friendly and less toxic properties. Being one of the major commodities of organic chemicals, the supply of acetone is limited whereas, the market value of acetone is always high due to the high demand of terminal disinfectants, cleaner for paints, adhesives, coatings and other cosmetic uses.
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Acetone (CH3)2CO is an
organic compound which is colourless and volatile in nature. The most commonly
used industrial method for the manufacturing of Acetone is cumene process. In
this process, either solid phosphoric acid or anhydrous aluminium chloride is
used as a catalyst to produce acetone from benzene and propylene. Acetone can
be further oxidized to yield commercially important intermediates such as
Bisphenol A (BPA): It is widely utilized in the production of polycarbonates,
food containers and other hygienic products; Methyl Methacrylate (MMA): It has
numerous commercial and Industrial applications including acrylic paints,
adhesives, coatings, lenses, rear lights and medical procedures; Solvents: Acetone
is a considerable solvent used in pharmaceutical and cosmetic industries.
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Acetone has a wide range of
applications such as pharmaceuticals, cosmetics, paints, adhesives, and
coatings. It is exclusively used as a solvent for the manufacturing of
polycarbonate plastics and artificial fibres. The chain of solvents holds the
largest market share and continuous growing expanse of solvents across the
globe is likely to propel the growth of the global acetone market during the
forecast period. The rise in the demand from major end user i.e., automotive
sector is projected to drive the global acetone market in the upcoming years. Other
major end user industries include cosmetics and healthcare, electronics,
paints, adhesives, and others. As the supply of acetone is scarce, the cost is
acetone is usually high which will benefit the global acetone market
economically.
Global economic slowdown due to
COVID 19 impacted the manufacturing industries during the first half of 2020.
Industries were lacking the feedstock due to supply chain disruption and global
plant outages initially in 2020. This caused the sudden decline in production
and sales, which affected the acetone market worldwide. The COVID-19 hampered
the sales of paints, coatings and cosmetics as the sectors were shut due to the
lockdown.
Region
wise, Asia Pacific has emerged to be the largest consumer of Acetone followed
by North America and Europe. China has the largest production of paints, coatings,
and adhesives in the world. Due to increased construction and infrastructure
activities in China, it is expected to witness a boost in the demand of acetone
in the country followed by Thailand. Manufacturing units in India is likely to
propel the Acetone industry due to increased demand of acetone in the pharmaceutical
sector.
According
to ChemAnalyst report, Global Acetone Market: Plant Capacity, Production,
Operating Efficiency, Demand & Supply, Application, End Use, Distribution
Channel, Region, Competition, Trade, Customer & Price Intelligence Market
Analysis, 2015-2030”, some of the major players operating in global Acetone
market are Formosa Chemicals and
Fibre Corporation, Royal Dutch Shell plc, Mitsui Chemicals, Inc., INEOS,
Borealis AG.
“Being
linked to the downstream application such as pharmaceutical and cosmetic etc,
the global Acetone Industry has shown
a robust growth alongside growing population and changing consumer preference. It is forecasted that India is going to become the
world's fifth largest consumer market by 2025. In addition, growing per capita
income globally poised a stronger outlook to the country’s acetone demand. The
nationwide lockdown affected the supply chain logistics and caused immediate
shortage of raw materials hence increased the prices of Acetone. Meanwhile,
China serves as the key growth region as well with sufficiently installed
capacities. With new competitors emerging across the Asian acetone market, it
is extremely important to keep an eye which region will grab the biggest market
share in the upcoming years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm promoting
ChemAnalyst worldwide.
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Plant Capacity, Production, Operating Efficiency, Technology, Demand &
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