Acetone Derivatives Market Expected to Expand at a Steady CAGR through 2018-2028
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[ClickPress, Mon Dec 03 2018] Acetone derivatives are organic compounds which have a ketonic functional group. Acetone derivatives are a significant type of industrial chemicals which are widely used as solvents or as chemical intermediates. Properties such as slow evaporation rate, low surface tension, low density, and high boiling point make acetone derivatives an important solvent type which can be used for high solid coatings. Acetone derivatives can also be used in various adhesives, ranging from spray adhesives to glues. The multipurpose nature of acetone derivatives make them absolutely essential in various commercial and consumer products. Acetone derivatives can also be used as diluents in combination with other solvents. Acetone derivatives are also used as coupling agents or as a functional additive in various formulation processes. The low density of acetone derivatives reduces the VOC content in various products. Acetone derivatives are widely used in pharmaceuticals and agrochemicals as process solvents. The low toxicity of acetone derivatives gives them superiority over glycol ethers and halogenated solvents. Acetone derivatives are found in cosmetics, cleaners, and printing inks, along with other daily-used products. Along with the paints and coating industry, acetone derivatives also find application in the plastic, fiber, and film industries. Acetone derivatives are also used in mining and metal extraction processes as an ore floating agent. Acetone derivatives are also used as additives in fuel and lubricants. Acetone derivatives are also used in the construction industry as a contact cement solvent. Certain acetone derivatives are considered to be hazardous air pollutants, owing to which, there has been an increase in the regulations on acetone derivatives.
Acetone derivatives are widely used in the paints and coating industry as well as a contact cement solvent in the construction industry. Increasing population and urbanization is leading to the growth of the construction industry, which, in turn, is accelerating the acetone derivatives market. Acetone derivatives find a key role in the pharmaceutical, cosmetic, and personal care industries. The growing consumption of these products is boosting the acetone derivatives market. A rise in the production in the automotive and aerospace industry is increasing the demand for protective coatings, owing to which, there has been an increase in the acetone derivatives market. Technological developments in high performance engines demand high performance lubricants and fuel in order to perform in an efficient manner, owing to which, there has been an increase in the demand for acetone derivatives from the fuel and lubricant industry. The growing consumption of consumer products such as cleaners, nail paint removers, degreasers, etc., is increasing the demand for acetone derivatives. However, increasing regulations on acetone derivatives and the development of safe and green solvents may act as denting factors for the acetone derivatives market.
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The construction industry is growing in regions such as Asia Pacific and Latin America. Along with the construction industry, the pharmaceutical, agrochemical, plastic, and coating industries are also growing in these regions, which makes these regions prominent markets for acetone derivatives. Agrochemical industries are growing in the region of Africa. The cosmetics and personal care industry has a strong presence in regions such as the Middle East. These factors make MEA a potential market for acetone derivatives. Regions such as North America and Western Europe are matured markets as compared to the others. Despite this, the strong presence of paint & coating, pharmaceutical, and chemical industries in these regions make them promising markets for acetone derivatives.
Some of the market participants in the global acetone derivatives market identified across the value chain include: BASF SE, Dow Chemical Company, Sasol Solvents, Eastman Chemical Company, Celanese Corporation, Shell Chemicals, Solvay Chemicals, Exxon Mobil, Arkema Group, INEOS,Shell Corporation etc.
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