ID: PMRREP32492| Upcoming | Format: PDF, Excel, PPT* | Chemicals and Materials
According to latest research conducted by Persistence Market Research, the consumption of Acetoacetic Acid is expected to witness a considerable growth during the coming assessment period and anticipated to witness a CAGR of 3.5% to 5.0% during the coming assessment period due to its growing demand, especially from the dyes and pigments sector.
The demand of acetoacetate is going to increase owing to its increasing usage in the chemical industries, pharmaceuticals, pigments and dyes and other industries.
The significantly growing chemical industries all over the globe is anticipated to benefit the consumption rate of acetoacetate, since the compound is used by several chemical industries as intermediates for the production of various chemicals.
Acetoacetates are used in the acetoacetylation reaction, which are significantly utilize for the production of various kinds of dyes and pigments. The growing demand of the pigments and dyes from textiles, paper and pulp industries is projected to boost the demand of acetoacetic acid during the forecast period.
Significantly growing demand of various drugs and medicine is also expected to benefit the sales volume, as the compound is used in pharmaceutical industries as an intermediate for the manufacturing of various drugs and medicines.
The substantial growth in the pharmaceutical and healthcare sector is estimated to boost the demand of this acid in the coming years.
Rising demand of dyes and pigments from the textile and paper industries and paints and coatings industries is expected to augment the growth of acetoacetic acid market over the coming decade.
The esters of this compound are used in the production of various types of dyes and pigments, which are utilized by the paints, paper and textile industries.
The growing demand of paints and coatings all over the globe especially from the building and construction sector will indirectly benefit the sales of acetoacetate in the coming years.
The strong development in the end use industries has resulted in the substantial growth of acetoacetic acid in the Asia Pacific region especially in China. Significant growth in the chemical industries, pharmaceutical industries and paints and coatings industries in China has augmented the growth of acetoacetate.
Furthermore, the strong presence of the manufacturers have contributed significantly to the strong development of the acetoacetate and further made the country a prominent player in this market.
India is also anticipated to remain a key country in the market of acetoacetic acid during the forecast period. The growth is expected to be attributed by the growing chemical industries along with textile and paper and pulp industries in this country. Moreover, the significantly growing demand from the domestic pharmaceutical industryis also anticipated to boost the growth of acetoacetate sales in India.
The strong growth in the medicine sector in North America has resulted in the considerable growth of acetoacetate in this region. Growing chemical industries along with the growing demand of pigments and dyes are expected to benefit the acetoacetic acid consumption in North America.
The development in the paper and pulp industry and textile industry has also contributed to the sales of the compound in this region.
The Covid-19 pandemic has affected the growth of acetoacetic acid demand in the year 2020 owing to the decrease in demand from the end use industries due to shutdowns and restrictions in the region. Further the disruption in the supply chain and de-growth in the chemical industry has also impacted the sales of acetoacetate during the pandemic crisis.
However, with the recovery of the economy and improvement in the industrial performance will result in the desirable growth of the compound in near future.
Some of the leading manufacturers and suppliers of Acetoacetic Acid include
Key players are investing a considerable share of their overall sales in the Research and Development for the development of innovative and new products and solutions and technology to cater the growing demand from the end use applications and to increase their market presence.
Key players are focusing on development of various chemicals from acetoacetate to increase its applications and usage in various industries. Furthermore, to overcome the stringent regulations for the hazardous compounds, market participants are also focusing on reducing hazards generation along with carbon footprint by focusing on sustainability.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
By Purity
By End Use Industry
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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