Global Diacetone Alcohol Market Information- by Application (Solvents, Chemical Intermediates, Cleaning, Drilling Fluids, Preservatives, and Others), by End Use Industry (Paints & Coating, Textiles, Automotive, Oil & Gas, Others), and by Region (Asia Pacific, Europe, North America, Latin America, Middle East & Africa,) - Forecast till 2023
Global Diacetone alcohol Market Information- by application (solvents, chemical intermediates, cleaning, drilling fluids, preservatives, and others), end use industry (paints & coating, textiles, automotive, oil & gas, and others), and by Region (Asia Pacific, Europe, North America, Latin America, Middle East &Africa,)- forecast till 2023
Market Synopsis of Global Diacetone Alcohol Market:
Diacetone alcohol is a chemical compound having the molecular formula CH3C (O) CH2C (OH) (CH3)2. It is also known as DAA in the market.
The product is either synthesized by aldol condensation of acetone or can be extracted from its natural source called Achnatherum robustum (sleepy grass).This product is available in liquid form in the market. It is a common synthetic chemical intermediate used for the preparation of other compounds.
It is also used as a solvent in numerous chemical reactions, due to its high solubility property.
There are numerous applications wherein the diacetone alcohol majorly used such as solvent, chemical intermediate, and cleaning fluids, among others.
Apart from these applications, purification process, adhesives, paints, thinners and household cleaners are some of the other uses of the product. It acts as component of solvent blends for nitrocellulose, acrylic and cellulose acetate lacquers.
Global diacetone alcohol market has been increasing tremendously, growing at CAGR of 4.85% to reach USD 1,594.5 million, till 2023.
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Increasing consumption of diacetone alcohol by the prominent end use industries is the primary factor driving growth of the market.
The global diacetone alcohol is segmented into application and end use industry. Based on applications, the market is divided into solvents, chemical Intermediates, cleaning, drilling fluids, preservatives and others.
Among them, the use of diacetone alcohol as a solvent is dominating the market by holding major share. During the years to follow, this segment is estimated to grow at highest CAGR of 5.70% on account of its solubility properties in water and oil.
Chemical intermediate is another major segment in the global diacetone alcohol market, which accounted for 21% share of the market, in 2016.
Depending upon end use industry, the global diacetone alcohol market is categorized into paints & coating, textiles, automotive, and oil & gas, among other industries. Paints & coatings industry is the key consumer of diacetone alcohol and the largest segment in the market, which is growing at highest CAGR, among other end use industries.
It has been estimated to register USD 610.0 million by end of the review period. Textile and automotive industries are also an important end users of diacetone alcohol, which are closely following the leading segment that is paints & coatings industry
Global diacetone alcohol Market Share, by Application, 2016 (%) Source: Regional Analysis
The global diacetone alcohol market is spanned across into five key regions Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the leading region in the global diacetone alcohol market, which held largest share of the market in 2016.
The region is estimated to grow at the highest CAGR of 5.34% during the review period. The major factors favoring growth of the market in Asia Pacific is the rapid industrialization in the region along with presence of considerable number of producers coupled with cheap labor cost and growing exports.
Asia Pacific region is trailed by North America. The region accounted for the second largest market share, as of 2016.
During the forecast period, the market is estimated to reach USD 331.4 million till 2023.
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The U.S. is poised to dominate the market in this region throughout the forecast period and is accounted for the highest market share in North America owing to greater penetration of end user industries in the country.
Europe is another substantial region in the global diacetone alcohol market.
The region accounted for a significant market share of 18%, in 2016. Germany is likely to dominate the European market both, in terms of value and volume on account of surging demand of paints & coatings from both household and automotive industry.
Europe is followed by Latin America and the Middle East & Africa, which is estimated to grow at moderate rate during the forecast period.
Global diacetone alcohol market is segmented on the basis of application, end use industry and region. On the basis of application, market is segmented into solvents, chemical intermediates, cleaning, drilling fluids, and preservatives, among others.
By end use industry, the market is divided into paints & coating, textiles, automotive, oil & gas, others. Geographically, the global diacetone alcohol market is segmented into– Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The prominent players in the global diacetone alcohol market are Solvay S.A (Belgium), Arkema Group (France), Monument Chemical Inc. (U.S.), Recochem Inc. (Canada), Prasol Chemicals Pvt.
Ltd. (India), KH Neochem Co., Ltd. (Japan), Galaxy Chemicals (India), Shanghai Jianyuan Chemical Co.,Ltd.
(China), Aareydrugs & Pharmaceuticals Ltd. (India), and SRI NEELIMA LABORATORIES (India), among others.
Global Diacetone alcohol Market is projected to reach USD 1,594.5 million by 2023 with 4.85% CAGR during review period of 2017-2023. Asia Pacific accounted for largest share due to growing end use industries in this region.
Diacetone alcohol market is a fragmented market, however, tier1 manufacturers dominate the market. China is the largest producer and consumer of diacetone alcohol.
It accounts for 48% of the overall production of diacetone alcohol. China is the largest market not only in Asia Pacific but also in the global market.
Paints & coatings industry is the dominant end user for diacetone alcohol market across all regional segments during forecast period.
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Global Diacetone Alcohol Market is projected to grow at CAGR of 4.85% during review period of 2017-2023. Asia Pacific accounted for the largest share due to growth of major end use industries in the region.
Paints & coatings is the dominant segment in the global diacetone alcohol market, during forecast period.
The report covers brief analysis of geographical region includes
• Asia Pacific
o Rest of Asia Pacific
• North America
o Rest of Europe
• Middle East & Africa
• Latin America
• Manufacturers and distributors of diacetone alcohol.
• Manufacturers and distributors of diacetone alcohol.
• Suppliers and traders.
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts.
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