Global Acetone Market to Grow at a CAGR of 5.65% by 2030 | ChemAnalyst

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Summary

Global Acetone Market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 5.65% during the forecast period.

Press Release

According to ChemAnalyst report, “Global Acetone Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Acetone market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 5.65% during the forecast period. Increasing demand of biodegradable, environmentally friendly and non-toxic materials from consumers is anticipated to increase the demand of acetone due to its eco-friendly and less toxic properties. Being one of the major commodities of organic chemicals, the supply of acetone is limited whereas, the market value of acetone is always high due to the high demand of terminal disinfectants, cleaner for paints, adhesives, coatings and other cosmetic uses.

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Acetone (CH3)2CO is an organic compound which is colourless and volatile in nature. The most commonly used industrial method for the manufacturing of Acetone is cumene process. In this process, either solid phosphoric acid or anhydrous aluminium chloride is used as a catalyst to produce acetone from benzene and propylene. Acetone can be further oxidized to yield commercially important intermediates such as Bisphenol A (BIS): It is widely utilized in the production of polycarbonates, food containers and other hygienic products; Methyl Methacrylate (MMA): It has numerous commercial and Industrial applications including acrylic paints, adhesives, coatings, lenses, rear lights and medical procedures; Solvents: Acetone is a considerable solvent used in pharmaceutical and cosmetic industries.

Acetone has a wide range of applications such as pharmaceuticals, cosmetics, paints, adhesives, and coatings. It is exclusively used as a solvent for the manufacturing of polycarbonate plastics and artificial fibres. The chain of solvents holds the largest market share and continuous growing expanse of solvents across the globe is likely to propel the growth of the global acetone market during the forecast period. The rise in the demand from major end user i.e., automotive sector is projected to drive the global acetone market in the upcoming years. Other major end user industries include cosmetics and healthcare, electronics, paints, adhesives, and others. As the supply of acetone is scarce, the cost is acetone is usually high which will benefit the global acetone market economically.