Pune, India -- (SBWIRE) -- 08/16/2018 -- Acetone Market Overview to 2023

Acetone is used in the production of polycarbonate which is a raw material in the manufacturing of insulation for electrical & electrical applications. 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).

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Competition Analysis

The key players operating the acetone market globally comprises INEOS (Switzerland), Cepsa (Spain), The Royal Dutch Shell plc (the Netherlands), Mitsui Chemicals, Inc. (China), The Dow Chemical Company (the U.S.), and more. 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. Acetone is used in the production of methyl methacrylate which is in turn an intermediate in the production PVC (Poly Vinyl Chloride) where it is used in the manufacture of plastics.

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. Some of the prominent market factors and trends identified in the global acetone market include rapid industrialization, rising demand for personal care products, and increasing expenditure on construction activities.

Acetone Market - Intended Audience:

Acetone manufacturers
Traders and Distributors of acetone
Production Process Industries
Potential Investors
Raw Material Suppliers
Nationalized Laboratory
Segmentation Analysis

The global acetone market is categorized on the basis of application, end use industry, and region. On the basis of application, the acetone market is categorized into methyl methacrylate, bisphenol A, and solvent. On the basis of end use industry, the market is segmented into pharmaceuticals, personal care, paints & coatings, plastics, construction and electrical & electronics. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

North American acetone market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. & Canada is predicted to be the major contributors in the regional growth of acetone market and is expected to see a significant demand for acetone during the forecast period, 2017 to 2023. Increasing demand for electrical & electronic appliances and pharmaceuticals are the factors driving the market. In Europe, the demand for acetone is predicted to grow in various countries such as Italy, Germany, Spain, UK, France, and Russia on account of increasing expenditure in innovation in health care and cosmetic products and growing purchasing power of consumers.

Heavy investment in healthcare in order to provide public service, there is an opportunity for the pharmaceuticals manufacturers and suppliers to sell their products in this region. As acetone solvent is majorly used in the manufacturing of medicines, it is anticipated that this factor will drive the acetone market in the forecast period in this region. In the Middle East, demand for construction and paints & coatings industries are boosting the acetone market in the forecast period. Saudi Arabia and the U.A.E has positioned themselves as a travel hub will positively affect the present and future construction activities.

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As acetone solvent is widely used in the paints and coatings, which is anticipated to be the major driver in the forecast period. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in isoprene. Moreover there is a political crisis in the emerging economies of this region. Financial debt of these countries has crossed their earnings is the major restraint for the acetone market to grow in the forecast period.

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.