Report Code: A08999 | Pages: NA | Mar 2023 | 688 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Acetone Market
Request Now !Acetone, also known as propanone, is an organic compound, which is colorless and a flammable liquid Chemical intermediate in the production of acetone include methyl methacrylate (MMA), bisphenol-A (BPA), and aldol chemicals. Acetone is used in chemical industries to reduce the stickiness of silk, to remove grease from wool, and make protective coatings for cars & furniture. It is extensively used in industrial activities as it can easily mix with water and evaporates quickly in the air.Â
COVID-19 impact analysis
The rapid growth of the personal care industry across the globe is expected to drive the demand for acetone market. This is attributed to the fact that acetone is one of the most common industrial solvents used in various end-use industries, including electronics, , pharmaceutical, construction, automotive, agriculture chemicals & paints, and coatings & adhesives. Increase in demand from construction activities and automotive sector is further anticipated to fuel the market growth.
However, implementation of stringent government regulations on controlled use of acetone may negatively impact the market growth. This is attributed to the fact that extensive exposure of acetone may lead to unconsciousness, seizures, and respiratory distress, thus hampering the demand for acetone in the global market. If inhaled, acetone could cause health issues in infants and elderly individuals. Moreover, acetone is considered as a hazardous chemical that significantly affects groundwater and human health. Â
Region wise, the acetone market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these, Asia-Pacific garnered the largest share in the acetone market in terms of value and volume. Acetone demand in the Indian market is witnessing rapid growth, due to demand from the downstream building and automobile sectors. India has availability of cheap labor, lower cost of production, and less transit time as compared to other countries such as South Korea, Singapore, Thailand, and Taiwan.Â
Acetone is used as a direct solvent in several applications, including paints & coatings, printing inks, adhesives, nail polish removers, and other skin care products. Moreover, other applications include higher molecular weight glycols & alcohols, MIBK & MIBC, for solvent applications (varnishes, lacquer, cellulose acetate fiber, cellulose nitrate), as a carrier for acetylene in cylinders.
Key benefits of the report
Questions answered in the global acetone market research report:
Acetone Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Application |
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By End-use Industry |
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Key Market Players | Domo Chemicals, The Dow Chemical Company, INEOS Phenol, Honeywell International, Inc., Mitsui Chemicals, Inc., Hindustan Organic Chemicals Limited, Formosa Chemicals, Royal Dutch Shell Plc., Fiber Corporation, CEPSA Quimica |
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