Acetone Market Value and Growth:
Acetone Market size was around USD 7.41 Billion by revenue, at the end of 2018. It is anticipated to grow at a CAGR of 3.2 % to reach close to USD 10.04 Billion by the end of 2024.
Borealis, anAustria based company, acquired all the shares of Ecoplast Kunststoffrecycling GmbH, a plastics recycling company. This will help the company expand its mechanical recycling capabilities, and will serve as a key for the sustainability and circular economy efforts. Also, the company acquired a controlling stake in DYM Solution Co. Ltd., a South Korean Company.
Drivers and Restraints:
The rising use of personal care and household products, and growing electronics industry in the APAC region are the major factors driving the global acetone market. Also, dynamic economic development and positive demand for MMA in the electronics industry are contributing to the growth of the Market.
However, contrasting to the common factors driving the market growth, there are some factors that tend to hinder or challenge the market growth. These factors like increasing regulations by European commission on BPA and other stringent regulations imposed by the governments are hindering the growth of the global acetone market.
Acetone Market Segmentation Analysis:
The Acetone market is divided into Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical, Agricultural Chemicals, Paints, Coatings and Adhesives, and Other End-user Industriesbased on the End-Use Industry.Of the mentioned types the Electronics segment has accounted for the largest share in the global Acetone market. The increasing demand for MMA in the electronics industry is the main reason for the growth of this segment.
Based on its application the global market for Acetone is segmented into methyl methacrylate, bisphenol a, solvents, powder, and others. Among the mentioned applications the methyl methacrylate segment is calculated to be the application with the fastest growth rate in the forecast period. This segment is currently leading the Acetone market and is anticipated to lead the market during the forecast period.
By geography, the Acetone Market is segmented as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa.
North America is next in the lead for the global Acetone market followed by Europe.
The Asia Pacific region willbe leading the global Acetone market both in terms of value and volume. The situation of being the largest consumer of acetone will boost the growth in this region during the forecast period. The presence of strong and developing economies like India, Malaysia, Indonesia, and China will also contribute to growth of the market in the region due to the augmentation of the automotive segment. The regional advantages offered by this region such as cheap labor and ease of resource availability is the primary reason for the interest of the key market participants to invest in this region.
The high potential in the Asia Pacific region for future opportunities caused due to the fast industrialization and urbanization mainly in countries like India, Japan, and China is the primary reason for its booming market values in the global Acetone market. China will dominate the market in the Asia Pacific due to increased demand and supply of MMA, and bisphenol-A from various end use industries like electronics, construction, and automotive.
Key Market Players:
By the end of 2018,Borealis AG, CEPSA Quimica SA, DowDuPont, Honeywell International, Mitsui Chemicals Inc., Domo Chemicals, INEOS Phenol, Hindustan Organic Chemicals Limited, and Formosa Chemicals among othersare the leading shareholders of the Global Acetone Market. There is a constant competition between these companies regarding the pricing and quality of the product. They are currently focused on providing expansion strategies to improve their market value and position.
Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Methyl Methacrylate
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 End-User Industry
5.2.2 Cosmetics and Personal Care
5.2.7 Agricultural Chemicals
5.2.9 Coatings & Adhesives
5.2.10 Y-o-Y Growth Analysis, By Type
5.2.11 Market Attractiveness Analysis, By Type
5.2.12 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Application
184.108.40.206 By End-User Industry
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Application
22.214.171.124 By End-User Industry
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Application
184.108.40.206 By End-Use Industry
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Borealis AG
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 CEPSA Quimica SA
8.4 Honeywell International
8.5 Mitsui Chemicals Inc.
8.6 Domo Chemicals
8.7 INEOS Phenol
8.8 Hindustan Organic Chemicals Limited
8.9 Formosa Chemicals
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures