The extensive usage of acetone as solvent resins, rubber, plastics, varnishes, and rubber cements has fueled the growth of the global acetone market. The worldwide consumption of acetone was about 5.9 million tons in 2014. With increased
demand for acetone, the global consumption is expected to increase at a CAGR of 3% between 2014 and 2020 to reach 7.21 million tons by 2020.
Bio-Based Acetone to Drive the Demand from the Global Acetone Market
Chemically, acetone, also known as dimethyl ketone, is a co-product of phynol and is formed as a derivative in the cumene peroxidation process. It is a
major ingredient used in the manufacturing of acetone cyanohydrin for methyl methacrylate (MMA), bisphenol A (BPA), and aldol chemicals. The rising demand
from the end-use industries especially electronics, automotive, and cosmetics, is majorly driving the demand for the global acetone market. Acetone is
normally present in low levels in the human body. In fact exposure to high levels of acetone is harmful. In the U.S., the Environmental Protection Agency
(EPA) has identified 1,350 hazardous waste sites and the presence of acetone has been confirmed in 560 of these waste sites. New environmental regulations
by the authorities will negatively affect the growth of the global acetone market. However, manufacturers are focusing on bio-based acetone which will
create new commercial prospects for the overall market.
Bisphenol Segment to Grow at the Fastest Rate during 2014-2020
In terms of application, the global acetone market has been segmented into Bisphenol–A (BPA), methyl methacrylate (MMA), and solvent. Methyl methacrylate
(MMA) finds wide usage in the medical sector. It is traditionally used in the dental industry and is also used by orthopedic doctors for joint replacement
procedures. Acrylic nails made from MMA are cheaper and hence preferred over other alternatives. Bisphenol–A (BPA) is used to make epoxy resins and
polycarbonate resins. It is also used in various safety equipments, electronics, and medical devices. Due to their extensive usage, MMA and BPA segments
together dominated the global acetone market with 59.4% market share, in which MMA accounted for 28.3% share in 2014. During the forecast period, the
consumption of acetone by BPA producers is expected to grow at a CAGR of 4.2% and the application segment is estimated to be the fastest growing segment of
Asia Pacific to Dominate the Global Acetone Market
Asia Pacific dominated the acetone market in 2014 with more than 41% of the global consumption. Due to the rising number of end-use industries in the
region, the demand for acetone has significantly increased. Asia Pacific is expected to maintain its dominance in the near future as well, growing at a
CAGR of 6.2% from 2014 to 2020. During the same period, Middle East is expected to grow at a CAGR of 3%, owing to the increasing construction activities.
Latin America and North Africa are also forecasted to contribute significantly to the overall market growth.
Key Players of the Global Acetone Market
The key market players of the global acetone market include BASF, Dow chemical company, CEPSA QUIMICA, Reliance Chemicals, Shell Chemicals, LG, Mitsui
Chemicals, and Honeywell.
Browse the full Global Acetone Market report at http://www.mrrse.com/acetone-market