Acetone Market Size, Share, Types, Products, Trends, Growth, Applications and Forecast 2020 to 2028
The global acetone market share is expected to gain momentum from the high demand for petrochemicals and chemicals from several end-use industries. This information is given by Fortune Business Insights™ in a new study, The study further mentions that the acetone market size was USD 3,962.0 million in 2019 and is projected to reach USD 4,995.3 million by 2027, exhibiting a CAGR of 3.7% during the forecast period.

COVID-19 Pandemic to Affect Growth Backed by Ongoing Crude Oil Price War

The COVID-19 pandemic has negatively affected the global chemical industry. It has disrupted supply chains and created uncertainty in the demand worldwide. Also, restrictions from governments on manufacturing activities may hinder growth. The ongoing crude oil price war is also set to hamper growth.

Browse Summary:

https://www.fortunebusinessinsights.com/acetone-market-104446


Drivers & Restraints-

Increasing Manufacturing of Sanitizers and Disinfectants to Drive Growth

The increasing production of disinfectants and sanitizers worldwide is set to surge the demand for dimethyl ketone as isopropanol is derived from it. Besides, the high popularity of cosmetics and personal care products would aid the acetone market growth throughout the forthcoming years. However, acetone possesses higher initiation energy points and can’t auto-ignite. This may hamper its demand.


Regional Insights-

Easy Availability of Raw Materials to Favor Growth in Asia Pacific

In 2019, Asia Pacific held USD 1,739.2 million in terms of revenue. This growth is attributable to the lower labor cost and easy availability of raw materials in emerging countries, such as India and China. Dimethyl ketone is extensively used in numerous manufacturing processes as an industrial solvent in the region.

North America, on the other hand, is anticipated to grow considerably backed by the increasing research and development activities in the electronics sector. It would further surge the demand for Bisphenol A. The presence of large chemical industries in the U.K., Italy, and Germany would propel growth in Europe.

Read More Simialr article:https://www.globenewswire.com/en/news-release/2023/05/17/2670679/0/en/Latest-News-Bioplastics-Market-Worth-15-552-3-Mn-by-2028-With-10-7-CAGR.html
Acetone Market Size, Share, Types, Products, Trends, Growth, Applications and Forecast 2020 to 2028 The global acetone market share is expected to gain momentum from the high demand for petrochemicals and chemicals from several end-use industries. This information is given by Fortune Business Insights™ in a new study, The study further mentions that the acetone market size was USD 3,962.0 million in 2019 and is projected to reach USD 4,995.3 million by 2027, exhibiting a CAGR of 3.7% during the forecast period. COVID-19 Pandemic to Affect Growth Backed by Ongoing Crude Oil Price War The COVID-19 pandemic has negatively affected the global chemical industry. It has disrupted supply chains and created uncertainty in the demand worldwide. Also, restrictions from governments on manufacturing activities may hinder growth. The ongoing crude oil price war is also set to hamper growth. Browse Summary: https://www.fortunebusinessinsights.com/acetone-market-104446 Drivers & Restraints- Increasing Manufacturing of Sanitizers and Disinfectants to Drive Growth The increasing production of disinfectants and sanitizers worldwide is set to surge the demand for dimethyl ketone as isopropanol is derived from it. Besides, the high popularity of cosmetics and personal care products would aid the acetone market growth throughout the forthcoming years. However, acetone possesses higher initiation energy points and can’t auto-ignite. This may hamper its demand. Regional Insights- Easy Availability of Raw Materials to Favor Growth in Asia Pacific In 2019, Asia Pacific held USD 1,739.2 million in terms of revenue. This growth is attributable to the lower labor cost and easy availability of raw materials in emerging countries, such as India and China. Dimethyl ketone is extensively used in numerous manufacturing processes as an industrial solvent in the region. North America, on the other hand, is anticipated to grow considerably backed by the increasing research and development activities in the electronics sector. It would further surge the demand for Bisphenol A. The presence of large chemical industries in the U.K., Italy, and Germany would propel growth in Europe. Read More Simialr article:https://www.globenewswire.com/en/news-release/2023/05/17/2670679/0/en/Latest-News-Bioplastics-Market-Worth-15-552-3-Mn-by-2028-With-10-7-CAGR.html
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Acetone Market Size, Growth Rate, Industry Share | Global Report, 2030
The global acetone market size was $3,962.0 Mn in 2019 and is projected to reach $4,995.3 Mn by 2027, exhibiting a CAGR of 3.7% during the forecast period.
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