Acetone Market Size, Share, Outlook & Forecast 2018-2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)
Market Overview / Study Objective / Synopsis
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.
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Competitive Analysis 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.
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Acetone Market Research Report – Global Forecast to 2023
Top 10 Global key Players & Their Strategy
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INEOS (Switzerland), The Royal Dutch Shell plc (the Netherlands), Formosa Chemicals & Fiber Corporation (China), Prasol Chemicals Pvt. Ltd. (India) EMCO Limited (India) among others.
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Segmentation Analysis
The global aromatics market is segmented into type and application. On the basis of product, the market is segregated into benzene, toluene, o-xylene, p-xylene, and rubber segments. The market by application is further categorized into paints & coating, automotive, pharmaceuticals, oil & gas, chemicals, and others.
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Regional Analysis
The global acetone market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding paints & coatings and construction industries. Rising middle class population and their increasing expenditure on improving the living standards is expected to increase furthermore in the forecast period.The acetone market is predicted to increase in numerous countries of the Asia Pacific such as China, India, Japan and Indonesia due to increasing urbanization and population is anticipated to drive the market in the forecast period.
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