Apr 22, 2021 (Market Insight Reports) -- A key factor analyzed by GMI for acetone market growth includes the chemical's rising application as solvent across various industrial segments spanning pharmaceutical, cosmetics, personal care, paints and coatings, and adhesives. Currently, during the dreaded COVID-19 pandemic outbreak, the product has been witnessing a surging demand across the globe owing to its property of acting as a disinfectant and a compound that is effective against viruses and bacteria.
In fact, numerous studies claim that when used in concentrated form, acetone would prove to be highly effective in sanitizing surfaces, thus aiding its use in the pharmaceutical industry. Acetone is a clear and colorless liquid with a pleasant odor. It has been considered to be the one of the most commercially important chemicals of all times.
Growth will predominantly come from Latin America region, chiefly led by Brazil. This regional growth can be ascribed to the steady growth of thriving automobile and plastic industries across the region. The Brazilian automotive industry is expected to depict commendable growth in the upcoming years. As a matter of fact, this has urged major automakers like Volkswagen to shift their focus towards setting up their production plants in Brazil. This initiative could lead an indirect impact on the regional acetone market in the years ahead.
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Methyl Methacrylate, Solvents, and Bisphenol A applications will continue to remain as key applications in the global acetone industry. Amongst these, Methyl Methacrylate application segment is touted to emerge as one of the remunerative verticals of the given market. The segmental growth is perhaps credited to its common use in electronics and computer industry for vivid technologies such as DVDs, flat screen displays, CDs, and laser discs.
Above that, MMA is also used to augment the resistance of chemicals on PCBs while increasing their life as these are extensively being used in automotive sector, with the increasing penetration of novel and advanced display technologies sufficing different automotive applications. Moreover, technological advancements in PCBs across the electronics sector and automotive sector would further bolster the demand for acetone over the foreseeable period.
This report provides a detailed and comprehensive analysis on the "Acetone Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026", including:
Acetone market size, historical from 2015 to 2019 and annual forecast from 2020 to 2026.
Major acetone industry trends, technology evolution, economic indicators and business challenges.
Regulatory and geopolitical trends impacting the industry.