A recent report published by Infinium Global Research on acetone market provides in-depth analysis of segments and sub-segments in global as well as regional acetone market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional acetone market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global acetone market. According to the report, the global acetone market is projected to grow at a CAGR of 3.4% over the forecast period of 2018-2024.
Acetone is an organic compound with colorless, volatile and flammable properties. Acetone is also known as Propanone and it is found naturally in plants, trees, forest fires and as a breakdown product of animal fat metabolism. Acetone is the simplest and smallest ketone bodies produced during ketoacidosis. Acetone is mainly used as a solvent in the manufacturing of plastics, household, electronics, cosmetics, personal care, and other products. Although acetone has extremely low acute and chronic toxicity, The U.S. Food and Drug Administration (FDA) has determined acetone is safe for use as an indirect food additive in adhesives and food-contact coatings.
The acetone is frequently used in personal care and cosmetic products as both solvent and denaturant. They are mainly used as nail paint removers, cleansing products, hair care products, and skin care products. The rising applications of acetone in the Manufacturing of Personal Care and Household Products drives the growth of the acetone market worldwide.
Methyl methacrylate (MMA) and the Bisphenol A (BPA) are some of the major applications of acetone. According to the trusted source, among the total produced acetone, 30% to 34% acetone is used in the production of MMA and BPA. The Methyl methacrylate (MMA) as an ingredient used in the cosmetics as a filler for wrinkles and fine lines. Also, they are extensively known as a plastic component used in products such as plexiglass and other transparent glass substitutes. Bisphenol-A (BPA) is produced commercially by the acid catalyzed condensation of phenol and acetone and it is used as an intermediate for the production of polycarbonate.
In addition, the acetone is used in the petroleum industries as a gasoline additive. It helps in the diffusion of the gas inside the engines and allows it to vaporize that improves the efficiency of fuel. Vast applications offered by the acetone across various end-use industries contribute to the growth of the acetone market. However, the EU Commission issued a new regulation on the use of bisphenol A in plastic food contact materials owing to its hazardous effects is expected to hamper the growth of the acetone market. Moreover, the rising demand for BPA from the emerging market is projected to create several opportunities for acetone market in upcoming years.
Among the regions, Asia Pacific is the largest and the fastest growing region owing to the massive demand of BPA across various countries such as China and India. Furthermore, the rising cosmetic industries linked with the rising disposable income in the Asia Pacific region drives the growth of the acetone market in this region.
The report on global acetone market covers segments such as end user. On the basis of the end user, the global acetone market is categorized into cosmetics & personal care, paints, coatings & adhesives, pharmaceutical, agricultural chemicals, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global acetone market such as BASF SE, DowDuPont, ALTIVIA Petrochemicals, LLC, Borealis AG, Honeywell Chemicals, CEPSA Quimica, S.A., Formosa Chemicals and Fibre Corporation, INEOS Phenol GmbH, LG Chem Ltd., Mitsui Chemicals Inc., and Shell Chemical Co.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global acetone market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of acetone market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the acetone market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the acetone market to understand the present and future trends in this market and formulate their strategies accordingly.
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