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Diacetone Alcohol Market

Diacetone Alcohol Market

Diacetone Alcohol Market Analysis By Application (Solvents, Chemical Intermediaries, Cleaning, Drilling Fluids, Preservatives), By End Use (Paints & Coatings, Textiles, Automotive, Oil & Gas) - Global Forecast 2022-2032

Diacetone Alcohol Market
FACT7317MR

Diacetone Alcohol Market Outlook (2022-2032)

The global diacetone alcohol market is estimated to be US$ 1.44 Billion in 2022, and is forecast to surpass US$ 2.2 Billion by 2032, expanding at a steady 4.3% CAGR over the next ten years. Diacetone alcohol consumption accounts for around 2.8% share of the global alcohol market.

Report Attributes

Details

Diacetone Alcohol Market Size (2021A)

US$ 1.4 Billion

Estimated Market Value (2022E)

US$ 1.44 Billion

Forecasted Market Value (2032F)

US$ 2.2 Billion

Global Market Growth Rate (2022-2032)

CAGR 4.3%

North America Market Share (2021)

~ 33.1 %

North America Growth Rate (2022-2032)

CAGR 4.2%

U.S. Growth Rate (2022-2032)

4.2%

Market Share of Top 5 companies

~25.6%

Key Companies Profiled

  • SI Group
  • Monument Chemical
  • Arihant Solvents and Chemicals
  • Alpha Chemika
  • Prasol Chemicals Limited
  • Solvay
  • Arkema
  • KH Neochem

Diacetone alcohol is alcohol ketone with a low evaporation rate, which is used as a solvent for both, polar substances and hydrogen bonding. Approximately 90% of diacetone alcohol solvents are used in water-based coating production.

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Diacetone Alcohol Market Historical Analysis (2017-2021) Vs. Market Forecasts (2022-2032)

As per latest market analysis by Fact.MR, a global market research and competitive intelligence provider, in 2021, the diacetone alcohol market stood at around US$ 1.4 billion. Solvents, as an application for diacetone alcohol, account for the highest share, and are mainly suitable for a wide range of contaminants.

Preservatives, under the application category, are anticipated to reach around US$ 261.5 million and create an absolute $ opportunity of US$ 81.3 million during 2022-2032.

Alcohol is a type of natural compound composed of at least one hydroxyl group attached to a saturated carbon atom. Acetone and alcohol can be used to smoothen shop equipment to remove particles with excessive evaporation rate after use. In addition, low raw materials, affordability, and several benefits of diacetone alcohol will encourage market players to invest in this space.

Diacetone liquor (DAA) is widely utilized in water-based coatings, inferable from its attributes such as magnificent dissolvability in water and most natural solvent. Water-based coatings are significantly acquiring prevalence in various works of art. They have been supplanting dissolvable-based coatings in the family and modern development areas.

Wide use of diacetone alcohol in paints & coatings, textiles, and automotive is escalating growth of the product market. The global textiles market has been propelled by factors such as greater amounts of disposable income, higher concentration of retailer stores, etc.

All these factors are estimated to drive demand growth of diacetone alcohol at 4.3% CAGR through 2032.

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.

“Rising Diacetone Alcohol Usage as Solvent”

Diacetone alcohol is also used as for solvent extracting in the distillation process of waxes and resins. Demand for low-volatile, high-quality, with a wide range of benefits is estimated to propel diacetone alcohol demand over the coming years.

Diacetone alcohol market forecast by Fact.MR

Region-wise Analysis

Which Region Market Accounts for Highest Demand for Diacetone Alcohol?

“North America Diacetone Alcohol Market Prominent”

The North America diacetone alcohol market accounts for the largest market share of 31.1%. The regional market is expected to register a CAGR of 4.2% over the forecast years.

Extensive use of diacetone alcohol in cosmetics (nail polish, shaving creams, eye makeup preparation), along with being used as a preservative of animal tissues, attracts regional manufacturers to expand their product portfolios. Additionally, the affordable price of diacetone alcohol is propelling its market.

What is the Asia Pacific Diacetone Alcohol Market Stance?

“Rising Diacetone Alcohol Usage as Solvent”

The APAC diacetone alcohol market increased in market valuation from US$ 345.2 million in 2017 to US$ 401.6 million in 2021, reflecting a CAGR of 3.9%.

Rise in demand for diacetone alcohol in multiple applications such as solvents, preservatives, drilling fluids, cleaning, etc., will support market growth. Additionally, the eco-friendly nature of the product will also demand in the region over the coming years.

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Country-wise Analysis

Which Countries Will See Substantial Consumption of Diacetone Alcohol?

“United States to Account for Highest Consumption of Diacetone Alcohol”

The United States diacetone alcohol market accounts for the largest market share, i.e., 28.9% in 2022, and is projected to register a CAGR of 4.2% during the forecast years.

Upsurge in demand for diacetone alcohol for end uses such as textiles, paints & coatings, pharmaceutical preparation, primers and pesticides, etc., is responsible for the growth of the product market.

Will of Diacetone Alcohol Suppliers Gain Substantial Profits in China?

“Easy Raw Material Availability and Low Cost in China”

The China diacetone alcohol market accounts for the second-largest market share of 11.6% in 2022.

Wide use of diacetone alcohol as a chemical intermediary opens the doors for manufacturers. Easy availability of raw material and low cost is beneficial for diacetone alcohol manufacturers from China.

Category-wise Insights

Which End Use of Diacetone Alcohol is Most Prominent?

“High Demand for Use in Paints & Coatings”

Under the end use segment, the diacetone alcohol market is segmented into paints & coatings, textiles, automotive, oil & gas, and other end uses.

The paints & coatings segment holds 32.4% of the overall market share, and is projected to witness growth at 6%. Market value of paints & coatings in 2020 was approximately US$ 107.5 million, but dropped by 34% due to the novel coronavirus pandemic.

Where is Diacetone Alcohol Application the Highest?

“Application in Solvents to Remain High”

Diacetone alcohol application is segmented into solvents, chemical intermediaries, cleaning, drilling fluids, preservatives, and other applications.

Solvents lead by holding 24.5% of the overall market share, and are projected to register a CAGR of 4.9% over the forecast period.

Prominent market players such as Sherwin-Williams and PPG are confirming the supply of DAA due to an increase in consumption of diacetone alcohol. The solvent segment is estimated to provide a gain of 160 BPS to the global diacetone alcohol market during the assessment years of 2022-2032.

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Competition 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.

Fact.MR has provided detailed information about the price points of key manufacturers in diacetone alcohol positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Segments of 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

- FAQs -

The global diacetone alcohol market is estimated to be worth over US$ 1.44 billion in 2022.
Demand for diacetone alcohol is anticipated to reach US$ 2.2 billion by 2032.
Over the past half-decade, global consumption of diacetone alcohol increased at 3.5% CAGR.
Prominent suppliers of diacetone alcohol are Galaxy Chemicals, Arihant Solvents and Chemicals, Prasol Chemicals Limited, and Alpha Chemika.
North America tops the global diacetone alcohol market accounting for 33.1% market share in 2022.
Paints & coatings contribute 32.4% share to the global sales of diacetone alcohol.

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