Diacetone alcohol consumption accounts for approximately 2.8% of the global alcohol market
SEOUL, SOUTH KOREA, May 26, 2022 /EINPresswire.com/ — According to industry analysis by Fact.MR – market research and competitive intelligence provider, the global diacetone alcohol market is expected to surpass a valuation of US$1,443.7 million by 2022, and to expand at a significant CAGR of nearly 4.3% in value over the valuation period.
Diacetone alcohol is a carbon-based compound with the formula CH3C(O)CH2C(OH) sometimes called DAA. It is a colorless liquid, non-corrosive, clear and miscible with most common organic solvents. The paint and coatings industry is large and dynamic. Rising demand for paint and coating from medical products, automotive, transportation equipment, and wood and non-wood products is driving the MEA diacetone alcohol market.
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The increase in the use of diacetone alcohol as a chemical intermediate for the preparation of other compounds such as hexylene glycol and methyl isobutyl is going to propel the diacetone alcohol market in the coming years. Moreover, wide use of diacetone alcohol as a preservative increases its demand in the market. It is widely used to preserve animal tissues. Additionally, the increased use of diacetone alcohol in applications such as chemical intermediates, solvents, etc. is expected to drive the growth of the North American diacetone alcohol market.
Key insights from market research
By end use, textiles are expected to provide a value of USD 571.2 million over the forecast period, while automotive is expected to provide a value of USD 455.8 million.
Per application, Solvents are expected to provide a value of USD 572.2 million during the forecast period
Based on end use, automotive is expected to grow at a CAGR of around 3.6% during the forecast period
By application, solvents are expected to grow with a CAGR of around 4.9% over the forecast period
The oil and gas industry is expected to hold 9.6% market share over the forecast period
Based on end use, paint and coating is expected to dominate the diacetone alcohol market accounting for over 36.2% in 2032 of the market share.
“The United States maintains a heavy consumption of diacetone alcohol, which is widely used in the paint and coating and automotive industry in the country.” says a Fact.MR analyst
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One can see the manufacturers involved in the production of diacetone alcohol investing in research and development and focusing on coating with a highly specialized application such as antimicrobial coating.
In 2021, one of the leading manufacturers, SI Group, expanded its partnership with Brenntag to sell its plastic solutions products. According to SI Group, this partnership will increase the availability of SI Group’s high performance coating resins and intermediates in this key market.
Key segments of the Diacetone Alcohol industry survey
Diacetone Alcohol Market By Application:
Diacetone Alcohol Market by End Use:
Paints and coatings
Other end uses
Diacetone Alcohol Market by Region:
Diacetone Alcohol Market in North America
Diacetone Alcohol Market in Latin America
Diacetone alcohol market in Europe
Diacetone Alcohol Market APAC
Diacetone Alcohol Market MEA
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More valuable information
Fact.MR, in its new offering, presents an unbiased analysis of the global diacetone alcohol market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals critical information based on application (solvents, chemical intermediates, cleaning, drilling fluids, preservatives and other applications), end use (paints and coatings, textiles, automotive, oil and gas, other end-use industries) in seven major regions (North America, Latin America, Europe, APAC, MEA).
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