As per industry analysis on acetone derivatives by Fact.MR, the market is anticipated to be valued at US$ 10.6 Bn in 2021, expanding at a moderate CAGR of 5.8% over the forecast period 2021-2031.
Fact.MR – a market research and competitive intelligence provider, estimates the market valuation to surpass US$ 18.8 Bn by 2031, owing to factors such as capacity expansion, increased consumption, and mounting investments in housing & construction activities.
The acetone derivatives business is highly competitive with key players capturing a major chunk of the market share. Since acetone derivatives find use in wide range of industries, it can be viewed as a revenue generating stream for chemical companies. Thus, in order to increase their revenue and market share, market players have opted to increase production capacity by incorporating additional facilities around the world. For instance, Kumho P&B Chemicals, a major BPA producer, plans to increase its production capacity by an additional 200 KT, work for which is estimated to be completed by 2021-end.
Moreover, in order to deliver bulk and high quality products, companies are collaborating with different technological solution providers. These key developments are being seen across the industry as players are opting for capacity expansion to increase their market share.
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Key Takeaways from Market Study
- Bisphenol A, under product type, is projected to provide an absolute $ opportunity worth US$ 1.9 Bn over the next ten years.
- Demand for chemical grade acetone derivatives is projected to increase at a CAGR of around 6% over the forecast period.
- On the basis on end use, demand for paints & coatings is anticipated to expand 1.8X by 2031.
- East Asia is projected to capture around 32% share of the global acetone derivative market by 2031.
- South Asia & Oceania to gain market by 87 BPS over the period of 2021-2031.
“Regulations over carbon emissions can act as a hindrance for acetone derivative producers; hence, investing in R&D along with technological up-gradation could account as a fruitful strategy,” says a Fact.MR analyst.
Market Segments Covered in Acetone Derivatives Industry Research
- By Product Type
- Bisphenol A
- Diacetone Alcohol
- Methyl Methacrylate (MMA)
- Methyl Isobutyl Ketone (MIBK)
- By Grade
- Chemical Grade Acetone Derivatives
- Food Grade Acetone Derivatives
- Pharma Grade Acetone Derivatives
- By Application
- Acetone Derivatives in Solvents
- Acetone Derivatives in Additives
- Acetone Derivatives in Intermediates
- By End Use
- Acetone Derivatives for Paints & Coatings
- Acetone Derivatives for Cosmetics & Personal Care
- Acetone Derivatives for Pharmaceuticals
- Acetone Derivatives for Adhesives
- Acetone Derivatives for Chemicals
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Market players can be seen collaborating with various suppliers to streamline their raw material procurement process. Collaboration and establishing long-term relationships with suppliers is helping companies procure raw materials at reasonable price points. Moreover, digitalizing of the procurement process has taken place over the years, which tends to provide an upper edge to manufacturers.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the acetone derivatives market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of product type (bisphenol A, diacetone alcohol, methyl methacrylate, isophorone, and methyl isobutyl ketone), grade (chemical grade, food grade, and pharma grade), application (solvents, additives, and intermediates), and end use (paints & coatings, cosmetics & personal care, pharmaceuticals, adhesives , chemicals, and others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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The Acetone Derivatives Market report answers important questions which include:
- What are some of the latent areas of investments in the Acetone Derivatives market?
- Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth?
- What trends are likely to change the status quo of the positions held by leading players of the Acetone Derivatives market in the not-so-distant future?
- Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the Acetone Derivatives market?
- What are the strategies adopted by top players to retain their stronghold in the Acetone Derivatives market?
- Which strategic moves will new entrants adopt to gain a strong foothold in the Acetone Derivatives market?
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