Global Acetone Market to Witness a CAGR of 3% Through 2020: FMI
Acetone, also known as dimethyl ketone, is a co-product of phynol, and is derived through the process of cumene peroxidation. Acetone is widely used in various sectors, including cosmetics, home, business, laboratories, etc. The major use of acetone is for making acetone cyanohydrin, an organic compound which is a key ingredient in the manufacture of Bisphenol A (BPA) and methyl methacrylate (MMA). MMA is widely used in dentistry to make prosthetics. It is also used to make cast sheets and coatings. On the other hand, BPA is widely used in the manufacture of plastics and epoxy resins.Global Acetone Market ForecastThe worldwide consumption of acetone in 2014 was approximately 6 Mn tons. It is forecasted that the global acetone market will witness a moderate 3% CAGR through 2020 and its global consumption will reach 7.21 Mn tons. The demand for acetone from the automobile and construction sectors - especially in Asia Pacific (APAC) - is anticipated to be the key reason for its growth in the next five years. Furthermore, the growth in the infrastructure sector in the Middle East is anticipated to augur well for the prospects of the global acetone market.Segmentation of the Global Acetone MarketApplication-wise, the segments of the global acetone market include:
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