Global Acetone Market segmented by Application (Methyl methacrylate, Bisphenol-A, Aldol chemicals, and Solvent), By End-Use Industry (Chemicals, Pharmaceuticals, Cosmetics, and Electronics) and Region (North America, South America, Asia Pacific, Europe and Middle East & Africa) is forecasted to reach US$ XX Bn by 2027 at a CAGR of XX %.
Rise in demand for the application of methyl methacrylate in electronics industry and increasing use of polycarbonate in the automotive industry is estimated to be a major driver for the market of acetone in the forecast period. Commercialization of the bio based acetone is estimated to create growth opportunity for the market over the forecast period. However, fluctuation in prices of crude oil limits the market growth. Moreover, contact with acetone is dangerous for health and can cause intoxication, dizziness, nausea, unconsciousness which in turn may hamper the market growth.
Methyl Methacrylate (MMA) is expected to grow at faster rate comparatively.
Approximately 75% of the MMA is utilized in the manufacture of polymethyl methacrylate acrylic plastics (PMMA) and for the production of the co-polymer methyl methacrylate-butadiene-styrene (MBS), used as a modifier for PVC. Methyl Methacrylate is as cement used in total hip replacements as well as total knee replacements. Methyl Methacrylate is also used in electronics and computer industries for flat screens, DVD’s, compact discs, and laser discs.
Electronics industry is the major end use industry of acetone market.
In electronics application acetone derivatives are used in in for flat screens, DVD’s, compact discs, laser discs, conformal coating of printed circuit boards and liquid crystal displays. Demand in this application has seen strong growth as a result of consumers increasing purchasing power of flat screen TVs and computer monitors.
Asia-Pacific is the largest market for acetone grabbing a market share of nearly 46 %.
Asia Pacific was largest revenue generating owing to the development of automotive and electronics industries. Moreover, growing pharmaceutical sector in China and India is expected to propel the demand for acetone. China’s polycarbonate capacity is increasing as a result of new 70,000 metric ton/year polycarbonate plant located in Yantai, Shandong Province. Asia Pacific is projected to maintain its dominance throughout the forecast period, owing to growing industry growth.
This report includes a study of marketing and development strategies, along with the Form portfolios of leading companies. It includes the profiles of leading manufacturers such as INEOS Phenol, Royal Dutch Shell PLC, The Dow Chemical Company, Mitsui Chemicals, Inc., Sasol, Hindustan Organic Chemicals Limited, Domo Chemicals, Honeywell International, Inc., Formosa Chemicals and Fiber Corporation, and CEPSA Quimica, Prasol Chemicals Pvt. Ltd., and EMCO Limited.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global Acetone market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global Acetone market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market of our clients and at the same time explain global Acetone market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Acetone Market”.
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