The Global Acetone Market - Forecast to 2023: Application for Isopropanol Has Been Growing With the Highest Rate of About 18.22% Per Year - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 28, 2018--The “The Global Acetone Market” report has been added to ResearchAndMarkets.com’s offering.
According to a recently conducted research about the global acetone market, as an overall, it is projected to reach approximately 7,666 thousand tons by the end of 2023, increasing at a CAGR of around 2% per year in the period 2017-2023.
The report focuses on both product and regional breakdown, offering a larger perspective on the market dynamics. Although acetone is predominantly used as a solvent and an intermediate in the synthesis of other chemicals, the analysis considers the application of acetone across various industries.
In particular, the largest share of acetone consumption is for the production of bisphenol A, which accounted for around 20% of the total in volume terms. Meanwhile, the chemical’s application for isopropanol has been growing with the highest rate of about 18.22% per year.
Regionally, the largest global acetone market was North East Asia, which accounted for about 40% of the total in volume terms. In comparison, Africa was the smallest global acetone market during the analyzed period and is expected to remain such in the medium term.
Acetone is highly dependent on the development of end-use markets such as rubbers and polymers, adhesives, metal cleaning, electronics, printing inks, paints and coatings, automotive, pharmaceuticals, agricultural chemicals, and others. Polycarbonate (a major outlet for bishpenol A) has become one of the most preferred substitute for glass and metals in the automotive industry.
Due to the fact that the growing demand for lighter vehicles with enhanced fuel efficiency is propelling the automotive industry, manufacturers tend to rely on polycarbonate that helps reduce the curb weight of the vehicles. In addition to the automotive sector, polycarbonate has driven most of the growth for applications in optical media (CDs and DVDs) as well as the electrical and electronics, such as insulators, connectors, and housings.
Geographically, the acetone’s use for acetone cyanohydrin in North America and Europe is higher than for bisphenol A, while in Asia, the trend is the opposite. In terms of regional development, acetone has been experiencing robust growth in Asia and the Middle East, due to the development of automotive and electronics sectors.
North America and Europe have also been some of the largest regions in terms of consumption, mainly owing to the increasing demand for electrical & electronic appliances and pharmaceuticals, as well as to the increasing expenditure in innovation in health care and cosmetic products, coupled with growing purchasing power.
Some of the main players on the acetone market are planning to open up additional production capacities in different regions. As a matter of fact, Asia Pacific is anticipated to witness the fastest-paced capacity increase in the medium term. As far as the balance between supply and demand is concerned, the market is forecast to remain in a state of oversupply in most of the upcoming years.
Key Topics Covered
2. Executive Summary
3. Characteristics of Acetone
4. State of the Global Demographics and Economy
5. Overview and Analysis of the Global Acetone Market
6. Overview and Analysis of the Global Production of Acetone
7. Characteristics and Analysis of the Global Prices of Acetone
8. Overview and Analysis of the Global Imports of Acetone
9. Overview and Analysis of the Global Exports of Acetone
10. Balance Between Supply and Demand on the Global Acetone Market
Companies FeaturedSasol Ineos Phenol Borealis Novapex Domo Caproleuna Ineos Phenol Versalis Pkn Orlen Pidmco Rabigh Refining And Pc Saudi Kayan Tacaamol Advansix Altivia Petrochemicals Blue Island Phenol Dow Chemical Eastman Chemical Goodyear Tire And Rubber Ineos Phenol Lyondellbasell Industries Olin Sabic Innovative Plastics Shell Chemicals Shandong Lihuayi Group Shiyou Chemical Yangzhou Sinopec Mitsui Chemicals Sinopec Sabic Tianjin Pc Deepak Nitrite G.A.I.L. India Hindustan Organic Chemicals Si Group Ptt Phenol Carboclor Rhodia and more...
For more information about this report visit https://www.researchandmarkets.com/research/vff8tr/the_global?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181128005484/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Electronic Chemicals,Solvents
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/28/2018 09:54 AM/DISC: 11/28/2018 09:54 AM