Global Acetone Market was valued US$ XX Bn in 2019 and is forecasted to reach US$ XX Bn by 2027 at a CAGR of XX %.
Rise in demand for the application of methyl methacrylate in LCDs for consumer electronics market 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. An increasing demand for bio based acetone and strict government regulations is expected to slow the market growth of acetone. Moreover, contact with acetone is dangerous for health and can cause intoxication, dizziness, nausea, unconsciousness which in turn may hamper the market growth.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Bisphenol-A is the dominant application segment due to its extensive usage in the automotive industry. However, demand is expected to grow at slow pace owing to increasing regulations on its usage. Methyl Methacrylate (MMA) is expected to grow at a moderate rate because of increasing usage in cosmetics for artificial nail products, especially in Asia-Pacific economies. Methyl Methacrylate is majorly used in electronics and computer industries for flat screens, DVD’s, compact discs, and laser discs. Methyl Methacrylate is also used in conformal coatings to provide resistance to attack and prolonging their life. Printed circuit boards are increasingly used in automotive sector.
Electronics industry is the major end use industry of acetone market. Acetone derived methyl methacrylate is used in electronics and computer industries for flat screens, DVD’s, compact discs, and laser discs. Methyl methacrylate is also used in printed circuit boards to provide resistance to attack and prolonging their life. Growing demand for PCB’s is expected to drive the electronics segment growth in acetone market during the forecast period. Automotive is the second largest market for acetone attributed to increased use of PCBs.
Asia-Pacific is the largest market for acetone grabbing a market share of nearly 46 %, and is expected to grow at a healthy rate during the forecast period. 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. North America and Europe have been largest market for acetone owing to the increasing demand for electrical & electronic appliances and pharmaceuticals, as well as to the increasing expenditure in innovation in health care and cosmetic products, coupled with increasing purchasing power.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding acetone market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in acetone market.
Scope of Global Acetone Market
Global Acetone Market, by Application:
• Methyl methacrylate
• Aldol chemicals
Global Acetone Market, by End-Use Industry:
Global Acetone Market, by Region:
• North America
• South America
• Asia Pacific
• Middle East & Africa
Key Player analyzed in the Report:
• INEOS Phenol
• Royal Dutch Shell PLC
• The Dow Chemical Company
• Mitsui Chemicals, Inc.
• Hindustan Organic Chemicals Limited
• Domo Chemicals
• Honeywell International, Inc.
• Formosa Chemicals and Fiber Corporation
• CEPSA Quimica
• Prasol Chemicals Pvt. Ltd.
• EMCO Limited
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