Global Acetone Market 2017-2021
Acetone is largely consumed in the production of Bisphenol A (BPA) and methyl methacrylate (MMA). It also finds application as a solvent in manufacturing many chemicals. Owing to its high flexibility and strength, MMA is primarily used in the cosmetic industry to manufacture artificial nail products. It is also used to manufacture plastic sheets. MMA also finds medical application in dentistry. In its solid state it is used to make crowns and bridges. BPA is used to manufacture epoxy and polycarbonate resin, which finds extensive applications in manufacturing medical equipment, water bottles, and eye lens glasses.
Technavio’s analysts forecast the global acetone market to grow at a CAGR of 3.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global acetone market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of acetone.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Acetone Market 2017-2021
Technavio recognizes the following companies as the key players in the global acetone market: BASF, CEPSA, The Dow Chemical Company, INEOS, and Royal Dutch Shell
Other Prominent Vendors in the market are: Shanghai Sinopec Mitsui Chemicals, Honeywell International, and Prasol Chemicals
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing use of polycarbonate (manufactured using BPA) in automotive industry. There is an increasing use of polycarbonate as a substitute for glass and metal in the automotive industry. Polycarbonate is increasingly becoming a material of choice for lighting applications such as light housings and headlamp lenses and bezels, which require exceptional light transparency and high temperature and impact resistance.”
According to the report, one of the major drivers for this market is Growing demand for epoxy resins in wind energy sector spurs consumption of BPA. Large volumes of epoxy resins are used in the synthesis of composites and substances such as adhesives. These are consumed extensively to manufacture rotor blades and other mechanical components in wind turbines. At present, most of the wind blade manufacturers prefer BPA-based epoxy resins owing to their better adhesion and properties, such as lightweight, reduced shrinkage after cooling, and fatigue resistance.
Further, the report states that one of the major factors hindering the growth of this market is Growing demand for bio-solvent. The rising demand for bio-based solvent will slow down the growth of the global acetone market during the forecast period. Acetone is consumed for tool and brush cleaning, heavy cleaning, and to remove paint and resin spills. Bio-Solv is a green substitute that offers better cleaning capability and also does not have hazardous effects of acetone. Bio-Solv is biodegradable and non-toxic, which means no special dumping methods are essential. Biodegradable substitutes are gaining importance in boatyards and boat builders as they improve the health of workers and safeguard the environment.
BASF, CEPSA, The Dow Chemical Company, INEOS, and Royal Dutch Shell, Shanghai Sinopec Mitsui Chemicals, Honeywell International, and Prasol Chemicals