Market Research Report
Acetone Market Size, Share & Trends Analysis Report By Application (MMA, BPA, Solvents), By Distribution Channel, By Grade (Technical, Specialty), By Region, And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||923739|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Acetone Market Size, Share & Trends Analysis Report By Application (MMA, BPA, Solvents), By Distribution Channel, By Grade (Technical, Specialty), By Region, And Segment Forecasts, 2019 - 2025|
|Published: December 26, 2019||Content info: 110 Pages||
The global acetone market size is projected to reach USD 6.3 billion by 2025, exhibiting a revenue-based CAGR of 5.4% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing demand for specialty chemicals and solvents manufactured from acetone in end-use industries, such as automotive, construction and electronics is anticipated to propel the market.
Solvents manufactured from acetone have a strong demand in pharmaceutical, cosmetics, agrochemicals, and paints and coatings manufacturing. Paints and coatings used in automobile, construction, and industrial segments are one of the largest consumer groups. The excellent solvent power exhibited toward synthetic resins, such as vinyl, nitrocellulose, and acrylics has boosted the application of acetone in coating formulation. Acetone is considered as one of the most efficient solvents as most of the waxes, oils, and dyestuffs are soluble in it.
Among the two commercially available grades, the market for specialty grade acetone is comparatively low, however, it has high growth potential owing to its unique properties and rising demand from the pharmaceutical industry. Pharmaceutical industry is witnessing strong growth globally and especially in U.S. Acetone has witnessed increasing usage for manufacturing syrups and tablets, which is expected to further fuel the global market growth. Acetone is used in ophthalmic solutions in minute quantities to sterilize surgical equipment.
In spite of the various advantages and uses, production of acetone across Europe has shown a gradual decline, due to a fall in demand affecting the chemical imports. The price rise has forced manufacturers towards on-demand production in the region. The economic turmoil has largely affected and inflated the prices of petrochemicals, which has negatively impacted the Europe acetone market. Certain European regulations such as the green taxes and nuclear power taxes have also hampered the chemical industry and have inflated the demand for bio-based products.