Blog

Acetone Industry Report: Analysis and Forecast 2022-2027

Acetone Industry Report: Analysis and Forecast 2022-2027

Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Acetone Industry Report

The global acetone industry produced a volume of about 7.24 MMT in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 3.4 percent, manufacturing a volume of around 8.6 MMT by 2027.

The Acetone industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. Acetone is being used as a solvent in a growing number of industries, including personal care, home goods, and electronics. The Asia Pacific is the biggest category spender by region which is impelling the demand for the Acetone industry.

Acetone: Industry Definition and Segmentation

Scope

Acetone, also known as propanone or dimethyl ketone, is a colourless and odourless solvent used to make plastics and other industrial products. It is a highly flammable, exceedingly volatile liquid with a foul odour. It can be found in a range of home products, including cosmetics and personal care items, to a limited extent.

Get a Free Sample Report with Table of Contents: – https://www.procurementresource.com/reports/acetone-industry-report/request-sample

The acetone industry report comprises segments:

  • By application – Solvents, MMA, and BPA
  • By region – North America, Europe, Asia Pacific, the Middle East and Africa, and South America

Snapshot of the Report

The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Read Full Report with Table of Contents: – https://www.procurementresource.com/reports/acetone-industry-report

Category Drivers

Acetone is used in the textile industry to degrease wool and degum silk, as well as to make lacquers, which is fueling market expansion. The growing usage of acetone in the manufacturing of personal care and household goods, as well as the growing electronics industry and rising demand for polycarbonate products, are all contributing to the market’s growth. MMA is utilised in auto-glazing and exterior vehicle coating in the automotive industry because of its qualities such as weather resistance and scratch resistance. As infrastructure spending rises, particularly on development and repair projects associated with highways, the need for MMA is expected to rise.

The business is expected to expand further as demand for the isopropyl alcohol derivative, which is used to create sanitizers and disinfectants, grows. Bisphenol A (BPA), methyl methacrylate (MMA), and other compounds are made from acetone as a feedstock. In terms of end-user use, the cosmetics and personal care industries may account for a large portion of acetone consumption in the future. It’s an important component of nail polish removers. Demand for luxury cosmetics and personal care products is growing globally as consumer income levels rise, which will boost the acetone sector soon.

Category Insight by Region

Acetone is mostly manufactured in China, the United States, Taiwan, South Korea, and Western Europe. The Asia Pacific area saw tremendous growth in Acetone usage due to the fast-growing pharmaceutical and electronics sectors. In the Asia Pacific, China is the major consumer of acetone, with rising demand from a variety of end-users including construction, personal care, and solvents. The acetone market is primarily driven by the product’s solvent characteristics. Methyl methacrylate, a white liquid soluble in most organic solvents except water, is leading the industry’s demand. It has a wide range of applications in medical, dental, and joint replacement therapies, as well as a variety of industrial applications.

In addition, MMA is generally used to make polymethyl methacrylate (PMMA) resin, which is subsequently utilised to make PMMA plastics. PMMA is a more affordable alternative to polycarbonate. Acetone also has good solvent qualities and can be mixed easily with water for printing inks, paints, adhesives, coatings, and other applications, all of which contribute to the market’s growth.

Best Procurement Practices

The global Acetone Industry Report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of acetone products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Propylene can be used directly or indirectly to produce acetone. Cumene is responsible for more than 90% of acetone production. Acetone production is linked to phenol synthesis since the cumene process produces roughly 83 percent of it. In this method, acetone and phenol are produced simultaneously. The reaction of propylene and benzene in the presence of phosphoric acid-based or zeolite catalysts is the principal manufacturing process. In the liquid phase, cumene is oxidised to cumene hydroperoxide. In the presence of sulfuric acid, it is then split into phenol and acetone. Approximately 0.62 tonnes of acetone are produced for every tonne of phenol.

Direct oxidation of propylene (Wacker-Hoechst process) or hydrating propylene to yield 2-propanol, which is then oxidised (dehydrogenated) to acetone are two further processes.

Key Supplier Profiles included in the Acetone Industry Report

The key market players are Royal Dutch Shell Co, The Dow Chemical Company, INEOS Phenol GmbH, Mitsui Chemicals Inc., LyondellBasell Industries, SABIC, and Honeywell Chemicals.

The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliernutms.

Also Check Other Industry Reports

Do Check Our Social Media Pages

About Us:

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertake extensive research to provide our customers with the latest and up-to-date market reports, cost-models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele. We work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with the updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate, so that they can form strategies which ensure their optimum growth.

Contact Us:

Company Name: Procurement Resource
Contact Person: Chris Smiths
Email: sales@procurementresource.com
Toll Free Number: USA & Canada: +1-415-325-5166 | Europe & Africa: +44-702-402-5790 | APAC: +91-8586081494
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States
Blog – https://procurementresource.blogspot.com/
Website: https://www.procurementresource.com/

Tags: , , ,

Procurement Resource

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts.