Global Acetone Market Expected To Reach 7.07 Tons By 2020 With A CAGR Of 3.0%

Date: 2016-09-18

The global acetone market is mainly driven by use of acetone in production of chemical and as a solvent. Stringent government regulations and growing demand for bio-based acetone will decelerate growth of the global acetone market during the forecast period. However, increasing use of BPA in the automobile industry and construction industry is expected to further drive growth of the global acetone market in the near future.

The global Acetone market was estimated at 6.1 tons in 2015, and is anticipated to reach 7.07 tons by 2020, expanding at a CAGR of 3.0% between 2016 and 2020.

Acetone is inflammable, colorless, clear, and volatile organic compound with sweet odor which is the simplest form of ketone. Propylene is used as a feedstock for the production of most of the acetone. Acetone is used as a direct solvent and as a pioneer to methyl methacrylate, methacrylic acid, and bisphenol-A, and aldol chemicals. Other usages include laboratory, cosmetic, medical, and domestic uses. Rise in demand for the use of methyl methacrylate in LCDs for consumer electronics market is estimated to be a major driver for the market of acetone in the future time period.

On the whole, the global acetone utilization for bisphenol A is anticipated to rise at a standard yearly rate of approximately 4% all through 2013–2018. Asia Pacific will maintain to take part in a big role in the acetone market globally. Approximately 30% of the total acetone produced globally is utilized by bisphenol-A producers as per application, and is expected to carry on the tendency throughout 2020.

A lack of adequate supply for domestic acetone and a remarkable rise in the regional requirement aid enhance acetone manufacture in the developed countries to exports to Asia Pacific. On the other hand, Asian production and capacity have augmented faster than consumption since 2009, and import has been gradually failing. By means of the additional capability slated to come on flow by 2018, chiefly driven by phenol requirement for phenolic resins and bisphenol A, it is anticipated be an important amount of excess acetone in the market. The region is anticipated to be a net exporter.
Read Full Report:

Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample