Acetophenone Market Global Industry Overviews and Complete Forecast Report For 2020
Acetophenone is an organic compound and one of the simplest forms of ketone. Acetophenone is a viscous colorless liquid and is an important precursor in the production of fragrances and resins. The applications of acetophenone include resin precursors, pharmaceuticals, fragrances, chewing gums and it is also used as a laboratory reagent. The demand for acetophenone across the globe is expected to show strong growth in the next few years
Acetophenone are used in applications such as perfumes and fragrances while it also acts as a precursor in the production process of various chemicals. This makes acetophenone a major form of ketone to be produced commercially. In, terms of demand the demand for acetophenone is high from the perfumes and fragrances market where acetophenone is an essential ingredient for creating fragrances resembling cherry, almond, jasmine, honeysuckle and strawberry fragrances. Acetophenone is also used as a fragrance ingredient in detergents, soaps, lotions and creams. It is also used as a flavoring agent in nonalcoholic beverages, tobacco and some foods. Acetophenone as a product is also used in chewing gums and forms one of the various additives to be used for making cigarettes. Naturally, acetophenone occurs in many food products such as apple, apricot, cheese, beef, banana, and cauliflower. Earlier, acetophenone was used in medicines as an anticonvulsant and hypnotic. Acetophenone can also be used as a catalyst in olefin polymerization.
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The demand for acetophenone is expected to stem from the emerging economies of Asia Pacific such as China and India as well as countries such as Indonesia, Malaysia etc. Growing disposable income in these regions is expected to drive the market demand for acetophenone in Asia Pacific. With growing consumer spending of luxury products such as perfumes and fragrances is expected to further drive the demand for acetophenone which is one of the main ingredients of perfumes. With growing economies of Asian countries has led to an increase in the expenditure on lifestyle products thus, the demand for perfumes and other lifestyle products has seen a spike in these region. With increased demand for perfumes, the demand for acetophenone is expected to increase especially in these regions.
In terms of acetophenone production, Asia Pacific was the major producer of acetophenone followed by North America and Europe. Consumption pattern of acetophenone was similar to the production pattern across the globe. In terms of consumption, Asia Pacific was the major consumer of acetophenone, globally. Asia Pacific was followed by North America, Europe and Rest of the World. North America is one of the major markets for perfumes industry and thus is also an important demand destination for acetophenone. The major acetophenone markets in North America were U.S and Canada. Europe has a large presence of lifestyle products producers, where there are many manufacturers related to the perfumes industry. In Europe, the major consumptions markets were Germany, France, Italy, and U.K amongst others. In Asia Pacific, China accounted for the largest demand for acetophenone followed by India, Japan, Indonesia etc. There has been a growing demand for acetophenone and its products especially from countries of Asia Pacific such as China and India. With further economic development of these regions is expected to further propel the demand for acetophenone and its derivates in the near future.
Some of the major companies operating in the global acetophenone market are Rhodia, CellMark USA LLC, Alfa Aesar and INEOS Phenol among others.