The global diacetone alcohol market is projected to be worth more than US$ 1,443.7 million and to grow at a strong CAGR of nearly 4.3% in terms of value. By the end of 2022, the global market for diacetone alcohol is anticipated to be worth US$1.44 billion due to rising demand over the forecast period.
The diacetone alcohol (DAA) market is a growing industry that provides a versatile solvent with applications in various industries, including paints and coatings, adhesives, and chemical intermediates. DAA is a colorless liquid with a mild, fruity odor and is commonly used as a solvent for coatings and resins due to its ability to dissolve a wide range of substances. The market for DAA is expected to continue to grow in the coming years due to its increasing use in the production of solvents and coatings. It is also used in the production of chemical intermediates such as glycerol and glycerin, which are used in the manufacturing of various products such as soaps, cosmetics, and food.
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Key Segments of Diacetone Alcohol Industry Survey
- Diacetone Alcohol Market by Application :
- Chemical Intermediaries
- Drilling Fluids
- Other Applications
- Diacetone Alcohol Market by End Use :
- Paints & Coatings
- Oil & Gas
- Other End Uses
- Diacetone Alcohol Market by Region :
- North America Diacetone Alcohol Market
- Latin America Diacetone Alcohol Market
- Europe Diacetone Alcohol Market
- APAC Diacetone Alcohol Market
- MEA Diacetone Alcohol Market
Key Takeaways from Diacetone Alcohol Market Study
- By end use, textiles is projected to provide value of worth USD 571.2 Million over the forecast period whereas automotive is projected to provide value of 455.8 Million
- By application, solvents is projected to provide value of worth USD 572.2 Million over the forecast period
- Based on end use , automotive is projected to grow with a CAGR of around 3.6% over the forecast period
- By application, solvents is projected to grow with a CAGR of around 4.9% during the forecast period
- The oil & gas industry is expected to hold 9.6% of market share during forecast period
- On the basis of end use, paint & coating is projected to dominate diacetone alcohol market by accounting for over 36.2% in 2032 of the market share.
Key manufacturers of diacetone alcohol are SI Group, Monument Chemical, Recoche Inc, Aarey drugs & Pharmaceuticals Ltd., Alpha Chemika, Arihant Solvents and Chemicals, and Prasol Chemicals Limited.
The global diacetone alcohol market is consolidated and competitive owing to several domestic and regional players. Marketing strategies adopted by key players are mergers, acquisitions, expansion, collaborations, and partnerships.
- In Dec 2022, Parsol Chemical Ltd. focused on research & development and investing in product development. The organization is having a qualified & experienced R&D team with 14 members along with chemical engineers & scientists.
Key players in the Diacetone Alcohol Market
- SI Group
- Monument Chemical
- Arihant Solvents and Chemicals
- Alpha Chemika
- Prasol Chemicals Limited
- KH Neochem
In summary, the DAA market is expected to grow in the coming years due to its increasing use in the production of solvents and coatings and the demand for environmentally friendly solvents. However, the industry may face challenges due to the volatility of raw material prices and the availability of substitutes.