Diacetone Alcohol Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Diacetone Alcohol Market: Snapshot
The demand within the global market for diacetone alcohol has been rising on account of several key developments in the field of chemistry. Diacetone alcohol is commonly known as DAA and has the chemical formula CH3C(O)CH2C(OH)(CH3)2. The application portfolio of diacetone alcohol is quite wide and this underpins the splendid demand within the global market for diacetone alcohol. DAA is a synthetic intermediate that is used to process several other compounds, and this further propels demand within the global market. It is projected that the global market for diacetone alcohol would witness the inflow of abundant revenues within the global market for diacetone alcohol.
The use of diacetone alcohol in lacquers where it gives a glossy finish to the surfaces has driven demand within the global market. Furthermore, the odourless appeal of the end product that are brushed with diacetone alcohol is also favourable across a number of industries. Wood thinners and wood preservatives are amongst other substances that contain diacetone alcohol, and this also creates growth opportunities within the global market. Besides this, thinners and printing pastes are also manufactured with the help of diacetone alcohol which further allows for market growth.
On the basis of geography, the demand for diacetone alcohol in North America has been rising on account of the expansive use of wood work in several industries. Moreover, the market for diacetone alcohol in Asia Pacific, Europe, and the Middle East and Africa has also expanded on account of several advancements in the field of constructions and chemicals.
Global Diacetone Alcohol Market: Overview
Diacetone alcohol chiefly finds usage as a solvent in a wide variety of professional and industrial applications in area such as cleaning, coatings, lubricants, polymer processing, metal working fluids, and water treatment. The chemical is also found in a number of consumer products such as inks, adhesives, paints, agrochemicals, and household cleaners. Diacetone alcohol is also used as a chemical intermediate in the preparation of a variety of other compounds.
The compound finds usage in cellulose ester polishes owing to its brilliant gloss and hardening properties. The paints and coatings industry is a leading consumer of the compound, utilizing it for producing dopes, wood stains, printing pastes, lacquer thinners, and wood preservatives. Other applications of diacetone alcohol are seen in the production of artificial leather and silk, permanent markers, photographic film and coating compositions for textiles and paper. The report analyzes the overall growth prospects of the market over the period between 2018 and 2028.
Global Diacetone Alcohol Market: Market Dynamics
The market for diacetone alcohol is expected to expand at a promising pace in the next few years, thanks to the thriving paints and coatings industry, which is one of the key consumers of the compound. Over the past few years, there has been a vast surge in building construction and infrastructure development activities in emerging economies across regions such as Asia Pacific and Latin America owing to exponential rise in population and rise in urban settlements. Rising disposable incomes and increased expenditure on artistic beautification of commercial and residential setups in these regions have led to a vast rise in uptake of a variety of paints and coatings, which has, in turn, proved to be a key driver for the diacetone alcohol market.
Rise in stringent environment protection rules and regulations in developed as well as developing economies have necessitated the development of paints and coatings that are low in volatile organic compounds (VOCs). This scenario has also led to the increased demand for diacetone alcohol owing to the compound’s low VOC content. The compound also benefits from its properties such as quick dry time, high film-forming ability, and excellent gloss. In the next few years, the rising demand for better quality and environment-friendly paints and coatings is expected to work well for the global diacetone alcohol market.
Global Diacetone Alcohol Market: Geographical Overview
From a geographical standpoint, the report covers the diacetone alcohol market for regions such as North America, Asia Pacific, Middle East and Africa, Europe, and Latin America. Presently, the market in Asia Pacific has been helmed as the most promising regional market owing to the thriving construction industry and China’s role as one of the leading producers of industrially viable compounds and chemicals. Over the report’s forecast period as well, the market for diacetone alcohol in Asia Pacific is likely to achieve great strides owing to favorable growth prospects in the construction sector in the region. Use of the compound as an intermediary chemical for the production of a variety of other chemicals and compounds will allow the Asia Pacific market to remain its leading consumer.
Global Diacetone Alcohol Market: Competitive Dynamics
The vendor landscape of the global diacetone alcohol market is largely fragmented in nature, featuring several small and large companies offering similar products. Thus the level of competition is intense and companies are compelled to focus on strategies related to product pricing, quality, and performance. Focus on growth opportunities in new application areas and emerging regional markets has also increased as companies look to gain a larger hold on the market. Some of the leading companies operating in the global diacetone alcohol market are KH Neochem, Arkema, Tokyo Chemical Industry, Solvay, and Monument Chemical.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
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This report is the key to questions such as:
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Which aspects will serve as game-changers for the market?
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Which factors will hinder the growth of the market?
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