The global market for diacetone alcohol is showing a substantial chance of surpassing USD 1594.5 million by 2030, with a moderate CAGR of 4.85% during the forecast period. Market Research Future’s (MRFR’s) assessment of the global market reveals the inclusion of COVID-19 analysis as a part of the comprehensive study. The discussion also includes various factors that can provide tailwinds to ensure a better growth rate for the market. These factors are mostly end user industries and the rising intake of the compound as a solvent in them. The burgeoning automotive industry would boost the prospects and its inclusion in the paint and coating industry would be substantial.
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The global market report with details of the diacetone alcohol market has been studied on the basis of data gleaned from segments like application and end use industry. The global market study offers a look into various details like factors and prospects of the market, along with figures that could help in developing better strategies for the upcoming days.
By application, the study on the diacetone alcohol market has been segmented into chemical intermediates, cleaning, drilling fluids, solvents, and preservatives. Its use as solvents is substantial as several end user industries are increasing their intake of the substance to support the production process. In the paint and coating industry, the intake amount is notable.
By end use industry, the report on the diacetone alcohol uses market has been segmented into textiles, automotive, paints coating, oil gas, others. The automotive segment and its booming prospects in the Asia Pacific region can impact the market outcome significantly. The oil gas sector is also expected to increase the intake capacity of the product to boost the economy.
The Asia Pacific region would take charge and lead the global Diacetone Alcohol Market Trends. The regional market can benefit from the lenient regulations and impressive growth of the associated industries. China, Japan, South Korea, and India are making significant progress in terms of revenues and their contributions are paving ways ahead for the market.
The global market for diacetone alcohol is getting ample support from several companies Solvay S.A (Belgium), Monument Chemical Inc. (U.S.), Prasol Chemicals Pvt. Ltd. (India), Recochem Inc. (Canada), Arkema Group (France), KH Neochem Co., Ltd. (Japan), Galaxy Chemicals (India), Shanghai Jianyuan Chemical Co., Ltd. (China), Aareydrugs Pharmaceuticals Ltd. (India), and SRI NEELIMA LABORATORIES (India). These companies have forayed in by using several strategies like mergers, acquisitions, collaborations, and others. The inclusion of other techniques like increasing the investment for the research and development sector, promotion of products, launching of innovative products, and others would also stir changes in the market. The latest proceedings have been included in the report by MRFR analysts who are adept in reading various changes. This can boost the chances of having better launching of strategies.
The COVID-19 impact on the diacetone alcohol market is substantial, owing to the lockdowns happening across the globe. This has made several industries suffer huge financial blows, recuperating from which would require huge efforts in terms of financial contributions the market would also need time to get back on the track. Various end user industries like construction and automobile have been bludgeoned by the pandemic attack owing to which the intake of diacetone alcohol as a solvent has been stalled in several countries. Once the impact of COVID-19 subsides, the chances of growth for the market would grow significantly.
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