Pune, India, May 23, 2018 /MRFR Press Release/- Market Research Future published a Cooked research report on “Global Diacetone Alcohol Market Research Report - Forecast to 2023”Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2032.
The Global Diacetone Alcohol Market is led by some of the fervent players including, Arkema Group (France), Solvay S.A (Belgium), Monument Chemical Inc. (US), Prasol Chemicals Pvt. Ltd. (India), and Recochem Inc. (Canada). Profiling them in its analysis, MRFR finds out the strategies keep them at the forefront of the market competition.
Global Diacetone Alcohol Market Overview
Diacetone Alcohol or DAA, an oxygenated solvent with high solubility property is a derivative of Alcohol with the non-ethanol component. Diacetone Alcohol is prominently used as a solvent in industrial and consumer products for purification process, adhesives, paints, thinners and household cleaners. This is the key factor propelling the market growth and continuing with the same trend; the market will perceive a significant increase.
Acknowledging the kind of traction gained by this market, Market Research Future recently published a study report. According to the report, continuing with the same trends, the global DAA market is projected to accrue USD 1.83 Billion by 2032 at a CAGR of 4.85% during 2023 - 2032. This will be attributed to increased absorption of DAA by the prominent end-use industries.
Moreover, DAA is water and oil soluble and hence extensively used across industries such as into paints & coating, textiles, automotive, and oil & gas providing impetus to the market growth. Textile and automotive industry are closely following the leading segment that is paints & coatings industry. Other factors that fuel the DAA market growth include growing population, increasing demand for crude oil and depleting reserves of oil, gas & water, improving economic conditions, industrialization & urbanization.
Industry/ Innovation/ Related News:
May 17, 2018 - Arkema S.A., (France) One of the global producers of DAA announced the acquisition of the industrial adhesives business of Nitta-Gelatin Inc. (Japan), one of the leaders in the global gelatin and collagen peptide markets. This is expected to expand Arkema’s industrial adhesives presence in Japan. Through their Joint venture – an adhesives subsidiary - Bostik S.A., Arkema and Nitta operate Bostik-Nitta, which produces industrial adhesives. The Joint venture represents sales of about $35.4 million.
February 21, 2017 – Arkema S.A., announced a price increase of 250 to 300 Euros per ton or as contracts allow for its Diacétone Alcool (DAA), along with some other oxygenated solvents, effective from March 1st 2017. The company mentions that the higher energy and raw materials costs are the main reasons, the company has taken the decision of this hike.
January 26, 2017 – Arkema, announced that the company produces Oxo alcohols on the Lavéra site (France) in a 50/50 manufacturing JV with INEOS. These products are used during the production of the Group’s acrylic esters in Europe. As part of the program to divert €700 million sales, the Group announced the project. Moreover, INEOS will continue to supply the Group’s acrylic esters units.
Global DAA Market - Segments
MRFR has segmented the market into three key dynamics.
By Application : Comprises - Solvents, Chemical Intermediates, Cleaning, Drilling Fluids, Preservatives, and other
By End-Use Industries : Paints & Coating, Textiles, Automotive, Oil & Gas, other.
By Regions : North America, Europe, APAC and Rest of the World.
Segment Solvents accounts for the leading segment by application with maximum share and is estimated to grow at a CAGR of 5.70%.
Chemical intermediate accounts for the second largest segment by applications in the Global DAA Market owning 21% share.
Segment Paints & Coatings is a leading segment by End-Use Industries and is expected to reach US$ 610.0 Mn., by the end of 2023, growing at highest CAGR.
The Asia Pacific accounted for the leading market in 2016, possessing the largest market share. Retaining its dominance, the region is estimated to register 5.34% CAGR during the review period. Factors such as rapid industrialization and the presence of numerous producers coupled with the availability of cost-comprehensive labor-force and growing exports drive the regional market growth.
North America, accounted for the second largest market, in 2016 and is further expected to reach US$ 331.4 Mn by 2023. The U.S. among the other North American countries, backed by the greater penetration of end-user industries in the country, accounts for the major contributor to the market growth. As the third largest market for Diacetone Alcohol, Europe accounted for of 18% market share in 2016.
Germany dominates the European market share in terms of value and volume due to increasing demand for paints & coatings from both household and automotive industry. The Middle East & Africa and Latin America, regions are estimated to grow at a moderate rate during the forecast period.
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