Diacetone Alcohol Market Size, Share, Growth Analysis, By Application(Solvents, Chemical Intermediates), By End Use(Paints & Coatings, Chemicals) - Industry Forecast 2024-2031

Report ID: SQMIG15A2428 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 71 | Figures: 69

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diacetone alcohol market size was valued at USD 1.2 billion in 2022 and is poised to grow from USD 1.26 billion in 2023 to USD 1.83 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

Diacetone alcohol producers should focus on incorporating sustainability in their manufacturing processes to comply with modern pollution regulations. Companies can also focus on reducing their production costs to maximize their profit margins. Collaborating and partnering with different industries could also allow Diacetone alcohol companies to bolster their sales and revenue generation potential in the future. Mergers and acquisitions could also emerge as popular strategies for companies looking to expand their market presence on a level. 'Mitsubishi Chemical Corporation', 'Prasol Chemical Pvt. Ltd.', 'Arkema Group', 'Recoche Inc.', 'Aarey Drugs & Pharmaceuticals Ltd.', 'Tianjin Daofu Chemical New Technology', 'KH Neochem Co. Ltd.', 'TCI Chemicals Pvt. Ltd.', 'SI Group Inc.', 'Solvay S.A', 'Alpha Chemika', 'Arihant Solvents and Chemicals', 'Monument Chemicals Inc.', 'Solventis Ltd.'

The demand for organic solvents from various industries is increasing rapidly, estimated to bolster diacetone alcohol market growth in the future. Surging use of high-performance coatings around the world will also boost the adoption of diacetone alcohol as a solvent going forward.

Investments in R&D: Companies are focusing on investing in the research and development of diacetone alcohol to amplify its application scope and create new products that could allow them to increase their product portfolio. Diacetone alcohol manufacturers can also use R&D efforts to minimize the hazardous effects of diacetone alcohol among humans and unlock the full potential of business going forward.

North America accounts for a dominant share of the diacetone alcohol demand outlook. The presence of key industries such as textile, chemical, pharmaceuticals, and automotive allows this regional market to hold a high market share. Growing focus on sustainability is slated to promote the adoption of diacetone alcohol as an organic solvent in different industries and drive regional market growth. The United States and Canada are slated to lead revenue generation in the North American region across the forecast period and beyond.

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Diacetone Alcohol Market Size, Share, Growth Analysis, By Application(Solvents, Chemical Intermediates), By End Use(Paints & Coatings, Chemicals) - Industry Forecast 2024-2031

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