Diacetone Alcohol Market – Overview
Market Research Future which specializes in market reports related to the chemicals and material sector amongst others lately published a report on this industry. The sector is predicted to be growing at a CAGR rate of 4.85% to attain USD 1,595 million in revenue till 2023. The high solubility property of diacetone alcohol has increased the degree of applications of this product, thereby significantly also boosting its market potential.
The growth trajectory of this market has risen rapidly in the recent years due to the advancing number of uses created by noticeable end use industries. The market has also significantly diversified due to amplified usage in the solvent extractant in processes of purification for resins and waxes. Increased construction activities have also given way to further the development scope of the market in terms of varnishes, coating and paints that are employed to beautify building structures.
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The well-known players in market are Arkema Group (France), Recochem Inc. (Canada), Monument Chemical Inc. (U.S.), Solvay S.A (Belgium), KH Neochem Co., Ltd. (Japan),Prasol Chemicals Pvt. Ltd. (India) to name a few of the players existing in this industry.
The diacetone alcohol industry is divided on the types of end use industry, application and region.
The application category divides the market into chemical intermediates, solvents, drilling fluids cleaning and preservatives among others.
The end use industry segments the diacetone alcohol market into textiles, paints & coating, oil & gas, automotive and others.
The market on geographical basis is segmented into North America, Asia Pacific, Latin America, Europe and the Middle East & Africa.
North America, Asia Pacific, Latin America, Europe and the Middle East & Africa are the five major regions in the diacetone alcohol market globally.
The Asia Pacific region was the prime market in 2016 and is expected to develop at a maximum CAGR of 5.34% during the forecasted period. The control of Asia Pacific region is mainly because of the swift industrialization in the region along with existence of a considerable number of manufacturers together with low-priced labor expenditure and increasing exports. The North American region follows the Asia Pacific region, which is the second biggest market share and is likely to reach USD 331.4 million by the year 2023. U.S. is the top market share holder in the North American market and is anticipated to remain leading all through the forecast period due to better penetration of end user industries in the nation.
Europe is an important region in this particular industry for diacetone alcohol. It has an extensive market share of 18%, as of the year 2016. Germany controls the European market share in terms of volume and value due to rising demand of coatings & paints from both the automotive industry and household sectors. The Middle East & Africa and Latin American follow Europe, which is expected to develop at reasonable rate during the forecasted period.
Jan 2018 A company backed by backed by a private equity fund which is South Asian-focused called Everstone Capital Crystal and their entity Crop Protection, has approved to buy the manufacturing business of the world’s specialty chemical major chemicals firm, Solvay in India as part of the conglomerate’s which is Belgium-based planned decision to cease some of the businesses internationally.
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This post was originally published on The Market Plan