Acetone Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
The global ''acetone market size'' is expected togain momentum from the high demand for petrochemicals and chemicals fromseveral end-use industries. This information is given by FortuneBusiness Insights™ in a new study, titled, “Acetone MarketSize, Share & COVID-19 Impact Analysis, By Application (Solvent, BisphenolA (BPA), Methyl Methacrylate (MMA), and Others), By End-use (Paints &Coatings, Plastic, Automotive, Adhesives, Pharmaceuticals, Cosmetics,Electrical & Electronics, and Others), and Regional Forecast, 2020-2027.” Thestudy further mentions that the acetone market size was USD 3,962.0million in 2019 and is projected to reach USD 4,995.3 million by2027, exhibiting a CAGR of 3.7% during the forecast period.
COVID-19 Pandemic to Affect GrowthBacked by Ongoing Crude Oil Price War
The COVID-19 pandemic has negativelyaffected the global chemical industry. It has disrupted supply chains andcreated uncertainty in the demand worldwide. Also, restrictions fromgovernments on manufacturing activities may hinder growth. The ongoing crudeoil price war is also set to hamper growth.
List of the Leading Companies Profiledin the Global Acetone Market are:
- LyondellBasell Industries Holdings B.V. (Rotterdam, Netherlands)
- INEOS (London, UK)
- Altivia (Texas, U.S)
- Royal Dutch Shell Co. (The Hague, Netherlands)
- Honeywell International Inc (North Carolina, U.S)
- Mitsui & Co., Ltd. (Tokyo, Japan)
- SABIC (Riyadh, Saudi Arabia)
- KUMHO P&B CHEMICALS., INC. (Seoul, Korea)
- Cepsa (Madrid, Spain)
- Formosa Chemicals & Fibre Corp. (Changhua, Taiwan)
- Borealis AG (Vienna, Austria)
- PTT Phenol Company Limited. (Bangkok, Thailand)
- Prasol Chemicals Pvt. Ltd. (Navi Mumbai, India)
- Chang Chun Group (Taipei, Taiwan)
- Other Players
How Did We Create This Report?
We employ iterative and comprehensiveresearch techniques focusing on minimizing deviance. We use a combination oftop-down and bottom-up approaches for estimating and segmenting quantitativeaspects of the parent’s market. At the same time, data triangulation is used tolook at the market from three perspectives. Simulation models were used togather data about market forecasts and estimates.
Drivers & Restraints
Increasing Manufacturing of Sanitizersand Disinfectants to Drive Growth
The increasing production ofdisinfectants and sanitizers worldwide is set to surge the demand for dimethylketone as isopropanol is derived from it. Besides, the high popularity ofcosmetics and personal care products would aid the acetone market growththroughout the forthcoming years. However, acetone possesses higher initiationenergy points and can’t auto-ignite. This may hamper its demand.
Segment
Paints & Coatings Segment to GrowSteadily Fueled by Higher Usage of Solvents
Based on end-use, the plastic segmentearned 33.3% in terms of the global acetone market share in 2019. The paints& coatings segment generated the largest share in 2019 because of therising usage of solvents in this sector as it can dissolve non-polar and polarsubstances.
Regional Insights
Easy Availability of Raw Materials toFavor Growth in Asia Pacific
In 2019, Asia Pacific held USD 1,739.2million in terms of revenue. This growth is attributable to the lower laborcost and easy availability of raw materials in emerging countries, such asIndia and China. Dimethyl ketone is extensively used in numerous manufacturingprocesses as an industrial solvent in the region.
North America, on the other hand, isanticipated to grow considerably backed by the increasing research anddevelopment activities in the electronics sector. It would further surge thedemand for Bisphenol-A. The presence of large chemical industries in the U.K.,Italy, and Germany would propel growth in Europe.
Competitive Landscape
Key Players Focus on Signing NewAgreements to Enhance Their Portfolios
The market for acetone contains manymanufacturers that are mainly focusing on expanding their production capacitiesby adopting state-of-the-art technologies from other organizations. Some of theothers are aiming to sign new agreements to acquire businesses of prominentfirms.
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/acetone-market-104446
Below are the two latest industrydevelopments:
- February 2020: PKN ORLEN is planning to adopt the Phenol 3G and UOP Q-Max™ technologies to manufacture 200,000 metric tons of phenol per year. It will be done in its facility situated in Poland. UOP is likely to offer a license for the technologies, along with adsorbents, catalysts, key equipment, and basic engineering design services.
- August 2019: Dow signed an agreement with ALTIVIA Ketones & Additives, LLC to sell off its Acetone Derivatives business. The company will now be able to align more with ALTIVIA’s portfolio and will aim to gain higher returns.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Application Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Acetone Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Acetone Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application (Volume/Value)
- Solvent
- Bisphenol A (BPA)
- Methyl Methacrylate (MMA)
- Others
- By End-use (Volume/Value)
- Paints & Coatings
- Plastic
- Automotive
- Adhesives
- Pharmaceuticals
- Cosmetics
- Electrical & Electronics
- Others
TOC Continued…!
Have a Look at Related ResearchInsights:
Methyl Methacrylate (MMA) Market Size, Share & COVID-19 Impact Analysis,By Application (Chemical Intermediate, Surface Coatings, Emulsion Polymer), ByEnd-Use (Building & Construction, Automotive, Electronics, Paints &Coatings, and Others), and Regional Forecast, 2020-2027
Cumene Market Size, Share & Industry Analysis, ByApplication (Phenol, Acetone) and Regional Forecast, 2019-2026
Food Bleaching Agents Market Size, Share & Industry Analysis, By Type(Azodicarbonamide, Chlorine, Hydrogen Peroxide, Benzyl Peroxide, Others(Ascorbic Acid, Acetone Peroxide, and others)), By Application (Bakery,Beverages, Dairy Products, Oils) and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accuratedata, helping organizations of all sizes make timely decisions. We tailor innovativesolutions for our clients, assisting them to address challenges distinct totheir businesses. Our goal is to empower our clients with holistic marketintelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix oftangible insights and qualitative analysis to help companies achievesustainable growth. Our team of experienced analysts and consultants useindustry-leading research tools and techniques to compile comprehensive marketstudies, interspersed with relevant data.
At Fortune Business Insights™, we aimat highlighting the most lucrative growth opportunities for our clients. We,therefore, offer recommendations, making it easier for them to navigate throughtechnological and market-related changes. Our consulting services are designedto help organizations identify hidden opportunities and understand prevailingcompetitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-acetone-market-10315
