Acetone Market To 2020 – Industry Analysis, Trends: Grand View Research, Inc.
Acetone market is expected to witness significant growth on account of its use in various end-use industries including medical, cosmetic and chemical. In addition, acetone is used in the manufacture of methyl methacrylate (MMA), bisphenol-A (BPA) and methacrylic acid. Rising demand for MMA in LCD’s and electronic industry is likely to subsequently boost acetone demand over the next six years. Additionally, increasing use of bisphenol-A in the manufacture of plastics, antioxidants, lining of water pipes, dental filling sealants and foundry castings is likely to augment acetone market demand. Asia Pacific was the largest consumer of acetone on account of its growing use across an array of industries. Emerging economies including India, Malaysia, China and Indonesia are anticipated to witness high growth rate in the acetone market on account of rapid growth of automotive sector. However, environmental regulations associated with the use of acetone in various industries are likely to hamper its market over the projected period.
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Growing demand in various consumer and medical applications is expected to drive acetone market. Furthermore, use of acetone as a solvent is likely to supplement market demand over the projected period. Key players that manufacture acetone include Mitsui, INEOS, Shanghai Sinopec Mitsu, CEPSA Quimica U.S. Chemicals LLC, ConChem Co., EMCO Chemical Distributors, Formosa Chemicals & Fiber Corp, Sonoco, Shell, Prasol and Minda. In 2013, INEOS formed a joint venture with Sinopec to establish a new acetone production facility in China which would commence operations n 2016. In December 2014, Mitsui Chemicals, Inc. and China Petroleum & Chemical Corp. formed a joint venture to establish acetone and phenol plants in Shanghai that covered all production stages from raw materials to its derivatives.
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