United States, Rockville MD, May 10, 2022 (GLOBE NEWSWIRE) -- As per industry analysis by Fact.MR - market research and competitive intelligence provider, the global diacetone alcohol market is estimated to exceed a valuation of US$ 1,443.7 Million by 2022, and to expand at a significant CAGR of close to 4.3% by value over the assessment period. The demand for Diacetone Alcohol is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 1.44 Billion by the end of 2022.
Browse in-depth TOC on "Demand of Diacetone Alcohol Market"
72 Tables, 63 Figures and 170 Pages
Diacetone alcohol is a carbon based compound with the formula CH3C (O) CH2C (OH) sometimes called DAA. It is a colourless, non-corrosive, limpid liquid and miscible with most common organic solvents.
The paint & coating industry is broad & dynamic. The rising demand for paint & coating from medical products, automotive, transportation equipment, and wood & non-wood products is driving the market.
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The rise in use of diacetone alcohol as a chemical intermediates for the preparation of other compounds such as hexylene glycol and Methyl Isobutyl is to propel the market of diacetone alcohol in upcoming years.
Moreover, wide use of diacetone alcohol as a preservative escalating its demand in market. It is widely used to preserve animal tissues.
Additionally, the increased use of diacetone alcohol in applications like chemical intermediaries, solvents etc. is to drive the growth of the market.
Which End Uses are Bringing in High Profits for Diacetone Alcohol Manufacturers?
“High Use of Diacetone Alcohol in Paints & Coatings”
Diacetone alcohol has been used as an alternative solvent for benzene. Benzene was used before as a solvent in paints & coatings. However, benzene was banned due to environmental concerns.
Diacetone alcohol is an essential solvent in paints & coatings to protect metallic substrates against corrosion. One of the significant properties of diacetone alcohol is low toxicity, which leads to the safety of people nearby. These factors are estimated to drive market demand by 1.6X over the assessment period.
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Key Segments Covered in the Diacetone Alcohol Industry Survey
- Diacetone Alcohol Market by Application:
- Solvents
- Chemical Intermediaries
- Cleaning
- Drilling Fluids
- Preservatives
- Other Applications
- Diacetone Alcohol Market by End Use:
- Paints & Coatings
- Textiles
- Automotive
- Oil & Gas
- Other End Uses
- Diacetone Alcohol Market by Region:
- North America Diacetone Alcohol Market
- Latin America Diacetone Alcohol Market
- Europe Diacetone Alcohol Market
- APAC Diacetone Alcohol Market
- MEA Diacetone Alcohol Market
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Competitive Landscape
Key manufacturers of diacetone alcohol are SI Group, Monument Chemical, Recoche Inc, Aarey drugs & Pharmaceuticals Ltd., Alpha Chemika, Arihant Solvents and Chemicals, and Prasol Chemicals Limited.
The global diacetone alcohol market is consolidated and competitive owing to several domestic and regional players. Marketing strategies adopted by key players are mergers, acquisitions, expansion, collaborations, and partnerships.
- In Dec 2022, Parsol Chemical Ltd. focused on research & development and investing in product development. The organization is having a qualified & experienced R&D team with 14 members along with chemical engineers & scientists.
Key players in the Diacetone Alcohol Market
- SI Group
- Monument Chemical
- Arihant Solvents and Chemicals
- Alpha Chemika
- Prasol Chemicals Limited
- Solvay
- Arkema
- KH Neochem
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Key Takeaways from Diacetone Alcohol Market Study
- By end use, textiles is projected to provide value of worth USD 571.2 Million over the forecast period whereas automotive is projected to provide value of 455.8 Million
- By application, solvents is projected to provide value of worth USD 572.2 Million over the forecast period
- Based on end use , automotive is projected to grow with a CAGR of around 3.6% over the forecast period
- By application, solvents is projected to grow with a CAGR of around 4.9% during the forecast period
- The oil & gas industry is expected to hold 9.6% of market share during forecast period
- On the basis of end use, paint & coating is projected to dominate diacetone alcohol market by accounting for over 36.2% in 2032 of the market share.
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