The reports also help in understanding the Acetone Market dynamic, and structure by analyzing the market segments and projecting the Acetone Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Acetone Market makes the report investor’s guide.
Acetone Market Overview:
The "Acetone Market" study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the industry. The scope of the research includes a thorough investigation of the Acetone Market, as well as the reasons for variations in the industry's growth in various locations.
The Acetone Market size was valued at US$ 4 Bn. in 2021 and the total revenue is expected to grow at 5.2 % CAGR through 2021 to 2029, reaching nearly US$ 6 Bn.
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Market Scope:
The rise in dietary trend of consuming milk outside the home is propelling Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Segmentation:
Based on End-Use Industry, the Chemical industry is the major end-use industry of the acetone market. Acetone is a primary ingredient in chemical-derived removal products that are used on a large scale by the Cosmetics and Personal Care product manufacturing industries. Rising demand for make-up and nail paint removal products has resulted in a 2.6% increase in demand for Acetone from 2018 through 2021 by the Global Cosmetics Industry. Acetone gets easily mixed with water and holds a wide-scale application in the textile industry for degreasing wool and degumming silk. The presence of properties that increases viscosity and does not affect medical contents of medicine has resulted in a 2.1% increase in demand for Acetone in the second decade of this century by the Global Pharmaceutical Industry.
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Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the markets are determined by using secondary sources and verified through primary sources. The biggest players in the Acetone market are as follows:
• INEOS Phenol
• Royal Dutch Shell PLC
• The Dow Chemical Company
• Mitsui Chemicals, Inc.
• Sasol
• Hindustan Organic Chemicals Limited
• Domo Chemicals
• Honeywell International, Inc.
• Formosa Chemicals and Fiber Corporation
• CEPSA Quimica
• Prasol Chemicals Pvt. Ltd.
• EMCO Limited
• KUMHO PB Chemicals., Inc.
• SABIC
• LyondellBasell Industries Holdings B.V.
• Shell International B.V.
• Altivia
• Borealis AG
• Domo Chemicals
• U.S. Chemical Plastics
Regional Analysis:
Individual market-influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Acetone market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Acetone Market:
Due to a break in operations, end-user sectors where Acetone is used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Acetone manufacturers, affecting the development of the Acetone market in 2020. End-user business demand for Acetone has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
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Key Questions Answered in the Acetone Market Report are:
Which segment had the largest share in the Acetone market in 2021?
What is the competitive landscape of the Acetone market?
Which are the key drivers aiding the Acetone market growth?
Which region has the maximum share in the Acetone market?
What will be the CAGR of the Acetone market during the forecast period (2022-2027)?
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