Acetone Market to Reach USD 4,995.3 Million by 2027; High Demand for Chemicals and Petrochemicals to Aid Growth, says Fortune Business Insights™

Top companies covered in the acetone market report are LyondellBasell Industries Holdings B.V. (Rotterdam, Netherlands), INEOS (London, UK), Altivia (Texas, U.S), Royal Dutch Shell Co. (The Hague Netherlands), Honeywell International Inc (North Carolina, U.S), Mitsui & Co., Ltd. (Tokyo, Japan), SABIC (Riyadh, Saudi Arabia), and more players profiled


Pune, India, Dec. 10, 2020 (GLOBE NEWSWIRE) -- The global acetone market size is expected to gain momentum from the high demand for petrochemicals and chemicals from several end-use industries. This information is given by Fortune Business Insights™ in a new study, titled, Acetone Market Size, Share & COVID-19 Impact Analysis, By Application (Solvent, Bisphenol A (BPA), Methyl Methacrylate (MMA), and Others), By End-use (Paints & Coatings, Plastic, Automotive, Adhesives, Pharmaceuticals, Cosmetics, Electrical & Electronics, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the acetone market size was USD 3,962.0 million in 2019 and is projected to reach USD 4,995.3 million by 2027, exhibiting a CAGR of 3.7% during the forecast period.


COVID-19 Pandemic to Affect Growth Backed by Ongoing Crude Oil Price War

The COVID-19 pandemic has negatively affected the global chemical industry. It has disrupted supply chains and created uncertainty in the demand worldwide. Also, restrictions from governments on manufacturing activities may hinder growth. The ongoing crude oil price war is also set to hamper growth.


Get Sample PDF Brochure with Impact of COVID19:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/acetone-market-104446 


List of the Leading Companies Profiled in the Global Acetone Market are:

  • LyondellBasell Industries Holdings B.V. (Rotterdam, Netherlands)
  • INEOS (London, UK)
  • Altivia (Texas, U.S)
  • Royal Dutch Shell Co. (The Hague, Netherlands)
  • Honeywell International Inc (North Carolina, U.S)
  • Mitsui & Co., Ltd. (Tokyo, Japan)
  • SABIC (Riyadh, Saudi Arabia)
  • KUMHO P&B CHEMICALS., INC. (Seoul, Korea)
  • Cepsa (Madrid, Spain)
  • Formosa Chemicals & Fibre Corp. (Changhua, Taiwan)
  • Borealis AG (Vienna, Austria)
  • PTT Phenol Company Limited. (Bangkok, Thailand)
  • Prasol Chemicals Pvt. Ltd. (Navi Mumbai, India)
  • Chang Chun Group (Taipei, Taiwan)
  • Other Players


How Did We Create This Report?

We employ iterative and comprehensive research techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmenting quantitative aspects of the parent’s market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about market forecasts and estimates.


Drivers & Restraints

Increasing Manufacturing of Sanitizers and Disinfectants to Drive Growth

The increasing production of disinfectants and sanitizers worldwide is set to surge the demand for dimethyl ketone as isopropanol is derived from it. Besides, the high popularity of cosmetics and personal care products would aid the acetone market growth throughout the forthcoming years. However, acetone possesses higher initiation energy points and can’t auto-ignite. This may hamper its demand.


Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/acetone-market-104446


Segment

Paints & Coatings Segment to Grow Steadily Fueled by Higher Usage of Solvents

Based on end-use, the plastic segment earned 33.3% in terms of the global acetone market share in 2019. The paints & coatings segment generated the largest share in 2019 because of the rising usage of solvents in this sector as it can dissolve non-polar and polar substances.


Regional Insights

Easy Availability of Raw Materials to Favor Growth in Asia Pacific

In 2019, Asia Pacific held USD 1,739.2 million in terms of revenue. This growth is attributable to the lower labor cost and easy availability of raw materials in emerging countries, such as India and China. Dimethyl ketone is extensively used in numerous manufacturing processes as an industrial solvent in the region.

North America, on the other hand, is anticipated to grow considerably backed by the increasing research and development activities in the electronics sector. It would further surge the demand for Bisphenol-A. The presence of large chemical industries in the U.K., Italy, and Germany would propel growth in Europe.


Competitive Landscape

Key Players Focus on Signing New Agreements to Enhance Their Portfolios

The market for acetone contains many manufacturers that are mainly focusing on expanding their production capacities by adopting state-of-the-art technologies from other organizations. Some of the others are aiming to sign new agreements to acquire businesses of prominent firms.


Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/acetone-market-104446


Below are the two latest industry developments:

  • February 2020: PKN ORLEN is planning to adopt the Phenol 3G and UOP Q-Max™ technologies to manufacture 200,000 metric tons of phenol per year. It will be done in its facility situated in Poland. UOP is likely to offer a license for the technologies, along with adsorbents, catalysts, key equipment, and basic engineering design services.
  • August 2019: Dow signed an agreement with ALTIVIA Ketones & Additives, LLC to sell off its Acetone Derivatives business. The company will now be able to align more with ALTIVIA’s portfolio and will aim to gain higher returns.


Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Industry SWOT Analysis
    • Regulatory Analysis
    • Recent Industry Developments - Policies, Partnerships, New Application  Launches, and Mergers & Acquisitions
  • Qualitative Insights – Impact of COVID-19 on Global Acetone Market
    • Supply Chain Challenges
    • Steps taken by Government/Companies to overcome this impact
    • Potential opportunities due to COVID-19 outbreak
  • Global Acetone Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Application (Volume/Value)
        • Solvent
        • Bisphenol A (BPA)
        • Methyl Methacrylate (MMA)
        • Others
      • By End-use (Volume/Value)
        • Paints & Coatings
        • Plastic
        • Automotive
        • Adhesives
        • Pharmaceuticals
        • Cosmetics
        • Electrical & Electronics
        • Others

 TOC Continued…!


Speak to Our Expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/acetone-market-104446


Have a Look at Related Research Insights:

Methyl Methacrylate (MMA) Market Size, Share & COVID-19 Impact Analysis, By Application (Chemical Intermediate, Surface Coatings, Emulsion Polymer), By End-Use (Building & Construction, Automotive, Electronics, Paints & Coatings, and Others), and Regional Forecast, 2020-2027  

Cumene Market Size, Share & Industry Analysis, By Application (Phenol, Acetone) and Regional Forecast, 2019-2026

Food Bleaching Agents Market Size, Share & Industry Analysis, By Type (Azodicarbonamide, Chlorine, Hydrogen Peroxide, Benzyl Peroxide, Others (Ascorbic Acid, Acetone Peroxide, and others)), By Application (Bakery, Beverages, Dairy Products, Oils) and Regional Forecast, 2019-2026


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.


Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Emailsales@fortunebusinessinsights.com

Fortune Business Insights™

LinkedIn | Twitter | Blogs


Read Press Release:

https://www.fortunebusinessinsights.com/press-release/global-acetone-market-10315