Growing demand for acetone solvents is one of the significant factors influencing market growth. Acetone Market Size – USD 4.24 billion in 2018, Market Growth - CAGR of 5.0%, Market Trends – Rapid growth of the cosmetics industry
New York, NY -- (SBWIRE) -- 04/26/2021 -- The global Acetone Market research report added by Reports and Data is a comprehensive analysis of the latest trends and demands influencing the market growth. The report also covers a brief summary of the market values, analysis, market share, market size, industry statistics, market growth, top companies, market revenue, market valuation, and profit forecast. The report also covers the evolving competitive landscape and business strategies implemented by the major manufacturers of the market.
Acetone is a commonly used solvent primarily used in industrial and laboratory settings, as well as is considered safe enough for household applications. Currently, acetone is produced from petrochemicals as a co-product of phenol.
The rapid growth of the cosmetics industry is estimated to drive the market demand for acetone in the forecast period. The developing nations in the Asia Pacific and Latin America regions are likely to offer substantial growth opportunities for the cosmetics industry. Acetone is popular as the primary ingredient in nail polish remover. Moreover, cosmetic products, including makeup and skin creams, comprise acetone as a solvent provider to different chemicals. It is also a chief constituent in chemical skin peels to treat acne.
Increasing demand for polycarbonates is likely to boost the market demand in the upcoming years. Polycarbonates, derived from Bisphenol-A, find increasing implementation in the automotive industry, which is one of the key drivers for the growth of the market. Polycarbonate is increasingly deployed as an alternative for manufacturing a wide variety of materials and are most beneficial when transparency and impact resistance are a product requirement (for example, in bullet-proof glasses). Polycarbonate is usually used for plastic lenses in eyewear, protective gear, in medical devices, digital Disks (CDs, DVDs, and Blu-ray discs), greenhouses, and exterior lighting fixtures.
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This report on the Acetone Market offers an extensive analysis of the trends to estimate its growth in the near future. It provides historical analysis and evaluates the trends observed in the data gathered to speculate the growth in its size, share, demand, total earnings, and revenue
The report provides an assessment of the market status and outlook of the major regions of the market. It also covers product types, end user industries, applications, and key countries of the market. It also offers analysis of the top companies and analyzes the competitive hierarchy of the Acetone Market. The report further discusses in detail the strategic alliances formed by the key manufacturers such as mergers and acquisitions, collaborations, joint ventures, partnerships, corporate and government deals, and brand promotions and product launches. It also offers a complete overview of the businesses, expansion plans, product portfolio, revenue contribution, market share, production and manufacturing capacity, and their financial standings.
Further key findings from the report suggest
- By grade, the technical grade contributed to a larger market share of around 85.0% in 2018 and is estimated to grow at a rate of 4.5% in the forecast period.
- By application, the solvents dominated the market in 2018 and is expected to witness a growth rate of 5.1% in the forecast period. Solvents find application in products including nail polish removers, lacquers & finishes, cement, cleaners, films, paint, coatings, and adhesives.
- By industry vertical, the electronics industry held a considerable market share in 2018 and is projected to have a CAGR of 5.4% in the period 2019-2027. Electronics devices require exceptionally clean components for maximum performance and acetone suits well in meeting those requirements. Also, acetone is used in the manufacturing of polycarbonates used in several electronics applications.
- The Asia Pacific region led by China contributed to the largest market share in 2018 and is forecasted to experience the fastest growth rate of 6.2% in the forecast period. The high market demand is due to the increasing demand for solvents, MMA, and bisphenol-A from several end-user industries, including electronics, construction, and automotive.
- Key participants include Honeywell Research Chemicals, Royal Dutch Shell PLC, INEOS Phenol GmbH, Mitsui Chemicals Inc., CEPSA Quimica, Inc., Prasol Chemicals Pvt. Ltd. LyondellBasell Industries Inc., ALTIVIA Ketones & Additives, LLC, SABIC, and Kumho P&B Chemicals, among others.
For the purpose of this report, Reports and Data have segmented the global acetone market on the basis of grade, application, industry vertical, and region:
The prominent players operating in the market include:
Honeywell Research Chemicals, Royal Dutch Shell PLC, INEOS Phenol GmbH, Mitsui Chemicals Inc., CEPSA Quimica, Inc., Prasol Chemicals Pvt. Ltd. LyondellBasell Industries Inc., ALTIVIA Ketones & Additives, LLC, SABIC
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The report broadly assesses the geographical terrain of the Acetone Market and segments the market into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report offers market analysis and significant information regarding the industry share and revenue share generated by each major region along with the drivers, demands, current and emerging trends, and presence of key players in the region.
Regional analysis of the Acetone Market include:
- North America (U.S., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of EU)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Acetone Market segmentation based on Product Types:
- Technical Grade
- Specialty Grade
Acetone Market segmentation based on Application:
- Methyl Methacrylate (MMA)
- Methyl Isobutyl Ketone
The report covers vital information about the market share of each product type, revenue growth rate of segment, and profit valuation. It also provides information on the key segments expected to account for a significant share of the market in the forecast period. The report covers predicted growth rate, market share, and expected product demand for each application and product type. Additional information about the industry analysis, price trends, and the marketing strategies that are expected to drive the revenue growth of the market.
Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key Acetone Market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global Acetone Market size
2.2 Latest Acetone Market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global Acetone Market key players
3.2 Global Acetone Market size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Acetone Market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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