Acetone Derivatives Market - Market Oerview
In 2020, the overall sales of the acetone derivatives witnessed a massive decline due to the Covid-19 crisis as lockdown was implemented and all the factorial units were closed which led the manufacturing companies to face immense losses. Now in 2021, the global manufacturers are giving entire focus on improving their sales and profitability through product innovations and upgrades.
Leading corporations including BASF SE, Dow Chemical Company, Sasol Solvents, Eastman Chemical Company, Celanese Corporation, Shell Chemicals, Solvay Chemicals, Exxon Mobil, Arkema Group, INEOS, Shell Corporation and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings. They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for acetone derivatives with largest market share.
For instance, in November 2021, Solvay signed a new long term agreement with Boeing. As a part of this agreement, Solvay was supposed to provide Boeing with material solutions for the entire commercial and defense programs for applications including primary and secondary structures, interiors and surfacing. The company provides Boeing with various advanced materials such as thermoset and thermoplastic composites, adhesives and surfacing films. The contract enables Solvay in expanding its portfolio and customer base.
In Terms of growth, the North American region is expected to show a significant growth in the demand due to the expanding cosmetic and personal care industry which are creating growth space for acetone derivative manufacturers. The market in the Asia Pacific region is projected to be revenue generating through 2030 because of the emergence of new manufacturers and expansion of the infrastructure industry in the developing countries. All the other key regions are driving the market growth and opening various opportunities for manufacturers.
Acetone Derivatives Market: Introduction
Acetone derivatives are organic compounds which have a ketonic functional group. Acetone derivatives are a significant type of industrial chemicals which are widely used as solvents or as chemical intermediates. Properties such as slow evaporation rate, low surface tension, low density, and high boiling point make acetone derivatives an important solvent type which can be used for high solid coatings. Acetone derivatives can also be used in various adhesives, ranging from spray adhesives to glues.
The multipurpose nature of acetone derivatives make them absolutely essential in various commercial and consumer products. Acetone derivatives can also be used as diluents in combination with other solvents. Acetone derivatives are also used as coupling agents or as a functional additive in various formulation processes. The low density of acetone derivatives reduces the VOC content in various products. Acetone derivatives are widely used in pharmaceuticals and agrochemicals as process solvents.
The low toxicity of acetone derivatives gives them superiority over glycol ethers and halogenated solvents. Acetone derivatives are found in cosmetics, cleaners, and printing inks, along with other daily-used products. Along with the paints and coating industry, acetone derivatives also find application in the plastic, fiber, and film industries. Acetone derivatives are also used in mining and metal extraction processes as an ore floating agent.
Acetone derivatives are also used as additives in fuel and lubricants. Acetone derivatives are also used in the construction industry as a contact cement solvent. Certain acetone derivatives are considered to be hazardous air pollutants, owing to which, there has been an increase in the regulations on acetone derivatives.
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Acetone Derivatives Market: Dynamics
Acetone derivatives are widely used in the paints and coating industry as well as a contact cement solvent in the construction industry. Increasing population and urbanization is leading to the growth of the construction industry, which, in turn, is accelerating the acetone derivatives market. Acetone derivatives find a key role in the pharmaceutical, cosmetic, and personal care industries. The growing consumption of these products is boosting the acetone derivatives market
A rise in the production in the automotive and aerospace industry is increasing the demand for protective coatings, owing to which, there has been an increase in the acetone derivatives market. Technological developments in high performance engines demand high performance lubricants and fuel in order to perform in an efficient manner, owing to which, there has been an increase in the demand for acetone derivatives from the fuel and lubricant industry.
The growing consumption of consumer products such as cleaners, nail paint removers, degreasers, etc., is increasing the demand for acetone derivatives. However, increasing regulations on acetone derivatives and the development of safe and green solvents may act as denting factors for the acetone derivatives market.
Acetone Derivatives Market: Regional Outlook
The construction industry is growing in regions such as Asia Pacific and Latin America. Along with the construction industry, the pharmaceutical, agrochemical, plastic, and coating industries are also growing in these regions, which makes these regions prominent markets for acetone derivatives. grochemical industries are growing in the region of Africa.
The cosmetics and personal care industry has a strong presence in regions such as the Middle East. These factors make MEA a potential market for acetone derivatives. Regions such as North America and Western Europe are matured markets as compared to the others. Despite this, the strong presence of paint & coating, pharmaceutical, and chemical industries in these regions make them promising markets for acetone derivatives.
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Acetone Derivatives Market: Key Participants
Some of the market participants in the global acetone derivatives market identified across the value chain include:
- BASF SE
- Dow Chemical Company
- Sasol Solvents
- Eastman Chemical Company
- Celanese Corporation
- Shell Chemicals
- Solvay Chemicals
- Exxon Mobil
- Arkema Group
- Shell Corporation
The research report presents a comprehensive assessment of the market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, application, product type, and end use industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Value Chain
An Adaptive Approach to Modern-day Research Needs
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Acetone Derivatives Market: Segmentation
The global acetone derivatives market can be segmented on the basis of product type, end use industry, and application.
The global acetone derivatives market is segmented on the basis of product type:
- Methyl Isobutyl Ketone
- Methyl Isobutyl Carbinol
- Isobutyl Heptyl Ketone
- Diisobutyl Ketone
- Mesityl Oxide
- Diacetone alcohol
The global acetone derivatives market is segmented on the basis of end use industry:
- Paints & Coatings
- Cosmetic & Personal Care
- Building & Construction
The global acetone derivatives market is be segmented on the basis of application:
- Coupling Agents
- Cleaning Agents
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