Acetone Market anticipated to witness significant growth by 2025 Acetone Market | Page 2

High exposure of acetone may cause unconsciousness, seizures and respiratory
distress, thus hampering product demand. Stringent regulation regarding Bisphenol A
utilisation in plastic food contact materials due to hazardous human effects should
hinder industry profitability, thus affecting acetone market price trends.
North America, led by Mexico, Canada and the U.S. acetone market size is anticipated
to rise significantly in the projected time period. Growing cosmetics and personal care
products demand owing to rising young population and skin care awareness which
should accelerate acetone industry growth. This product is extensively used in
personal care and cosmetics products formulation which includes bath, cleansing,
nail polish,fragrance, hair care and skin care solutions owing to high miscibility and
VOC free properties which should promote industry growth.
Europe, driven by UK, Spain, Italy, France and Germany acetone market may observe
steady gains. Rising pharmaceuticals demand owing to increasing clinical trials,
research along with supportive government initiatives including PRIME launched by
European Medicines Agency to research and produce novel drugs should promote
regional industry growth.
Asia pacific, led by Australia, South Korea, Japan, China and India acetone market is
anticipated to experience significant growth owing to rising industrial and
infrastructural investments. Shifting manufacturing facilities to India due to lower
labour and production costs should boost Indian manufacturing sector which would
propel acetone market. Government initiatives like Make in India by Indian government
which promotes domestic production should increase manufacturing activities in
sectors including automotive, electronics and paints which may boost product
demand.
Global acetone market share is highly fragmented. The key players operating in the
market includes INEOS, Royal Dutch Shell plc, Dow Chemical Company, Cepsa,
Mitsui Chemicals, Inc., Altivia, LCY GROUP, Formosa Chemicals & Fiber Corporation,
Prasol Chemicals Pvt. Ltd. and EMCO Limited.
Companies are predominantly focusing on acquisitions, mergers, innovation and
increasing production capacities to cater worldwide product demand. In 2018, Deepak
Nitrite wholly owned subsidiary commissioned its phenol and acetone production
plant. This facility is equipped to manufacture 2,00,000 MPTA of phenol and 1,20,000
MPTA of acetone. This plant establishment will help company to cater more customers
in India, thus attaining strong market position.
In 2015, Cepsa established its chemical plant in China. This plant is in Shanghai
Chemical Industrial Plant. Through this setup, the company will be world’s second
largest producer of phenol and acetone with an annual production capacity of 250,000
and 150,000 tons respectively, thus increasing global market share.
Initiatives along with competitive pricing will support increase in market share over
projected time frame. Manufacturers are predominantly investing in research for
developing innovative products for obtaining sustainability and reducing environmental
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