Market Research Report
Global Acetone Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030
|Published by||ChemAnalyst||Product code||936027|
|Published||Content info||155 Pages
Delivery time: 1-2 business days
|Global Acetone Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030|
|Published: April 20, 2020||Content info: 155 Pages||
Acetone witnessed a strong demand in 2019 and is anticipated to achieve an impressive CAGR of 9% during the forecast period. The demand for Acetone is mainly driven by its application as a solvent in personal care, plastics and in paints and adhesive industry. However, sudden outbreak of Global pandemic COVID-19 has resulted in overwhelming demand for acetone, driven by rise in demand for hygienic products utilizing derivative Isopropyl Alcohol (IPA) as a prime feedstock. As more than 95 per cent of the total Acetone produced in the world comes as a byproduct of Phenol. Low demand for Phenol as an outcome of temporary turnarounds in automotive and construction sector may compel Phenol/ Acetone manufacturer to reduce their capacity utilization to combat to the losses in revenue.
Global Acetone consumption is divided into solvents, BPA and Methyl Methacrylate (MMA Production of Acetone is largely achieved via cumene peroxidation followed by dehydrogenation of isopropanol and few other low scale processes. Acetone players anticipates healthy growth for Acetone in the forecast period as the industry prompts rising demand for derivative Isopropyl Alcohol, for manufacturing of sanitizers and disinfectants. This demand is anticipated to propel for several years on rising awareness over hygiene and cleanliness, influenced by the ripple effects of Coronavirus. To combat to the demand, leading global Acetone producers like INEOS and DOW chemicals are ramping up their production capacities as well as setting up new units of cumene in order to assist the world in tough times of the Pandemic. Moreover, companies engaged in the downstream utilization of Acetone products like BPA and MMA are eyeing to expand their business by several mergers and acquisition, hence, creating immense scope for the growth of global Acetone Market.
Acetone production is majorly concentrated in China, USA, Taiwan, South Korea and western European region. Asia Pacific region witnessed an overwhelming growth for Acetone in 2019 and is further anticipated to contribute maximum consumption share in the forecast period owing to rapidly expanding pharmaceutical and electronics sectors. Moreover, addition of Phenol/Acetone capacities in China in recent years will result in reduced dependency of import and make it self-reliable. Furthermore, India is also expected to ramp up its domestic production in the coming years as it has imposed anti-dumping duties on Acetone imports from South Korea, Saudi Arabia and China.
Global economic slowdown and increasing competition among global players impacted Acetone price in 2019 causing it to dip sharply. Moreover, on account of outbreak of COVID-19 pandemic, demand for Acetone has decreased unpredictably. This sudden dip in demand has caused Acetone CFR China price to hover between USD XX/MT to USD XX/MT. Similarly, Acetone prices in Europe and the Americas has strengthened swiftly. Prices in the international market are likely to continue keep rolling downward till the 3rd Quarter of the year after which, the trend might even out gradually.
Cepsa Corporation, Kumho shell, PTTGC., Formosa Chemicals and Fibre Corporation., Taiwan Prosperity Chemical Corp (TPCC)., Deepak Nitirite Ltd., LG Chem, Mitsui Chemicals Inc., DOW Chemicals, Sabic Innovative Plastics, Shell are some of the leading players operating in the Global Acetone market.,
To extract data for Global Acetone market, primary research surveys were conducted with Acetone manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Acetone market over the coming years.
ChemAnalyst calculated Acetone global demand by analyzing the historical data and demand forecast was carried out considering Propylene and crude oil prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Acetone manufacturers, distributors, importers and end users. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the Global Acetone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.