Acetylacetone Market – Key Research Findings
- Global acetylacetone market size in 2017 – nearly US$ 130 Mn.
- The acetylacetone market is expected to grow at a CAGR of over 4% during 2018-2028.
- East Asia and Europe are expected to remain the largest regional markets in the global acetylacetone market
- East Asia and Europe are the leading regions in the acetylacetone market, owing to the increasing adoption of acetylacetone as a raw material for pharmaceuticals and agrochemicals.
- Distribution and marketing synergies between companies to exploit the growth prospects in the acetylacetone market.
- Many players in the established acetylacetone market are looking to build strong ties with suppliers and distributors.
- The heterocyclic compounds synthesis segment is expected to remain the most preferred application segment in the acetylacetone market.
- The growth of this segment can be primarily attributed to the global growth of the chemical market. Some of the factors such as cost-effectiveness and rising demand for pharmaceutical products are expected to propel the growth of the acetylacetone market.
Top 5 Factors Shaping the Acetylacetone Market
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- Acetylacetone: Growing Usage as an Intermediate in Pharmaceuticals and Agrochemicals
Acetylacetone continues to gain high demand for heterocyclic compound synthesis and biomolecules. Acetylacetone finds wide use for its pharmaceutical and agrochemical intermediate formation. The global demand for acetylacetone is increasing as a result of the growing prevalence of end users such as agrochemicals, pharmaceuticals, coatings, and petrochemicals, to name a few, where acetylacetone is prominently used for production.
- Launch of New Products and Distribution Agreements are the Major Trends in the Acetylacetone Market
Key market players such as Daicel Corporation and Wacker Chemie AG, among others, are focusing on the expansion of their acetylacetone product portfolios through distribution agreements and the launching of new products.
- Rising Demand for Pharmaceutical Products is Expected to Create Strong Demand for Acetylacetone
According to the UN Department of Economic and Social Affairs Data (2015), between 2015 and 2030, the number of people in the world aged 60 years or over is projected to grow by 56 percent, from 901 million to 1.4 billion, which is expected to result in the robust growth of the pharmaceutical market. This, in turn, is expected to drive the acetylacetone market to a great extent.
- Introduction of Agrochemicals Products Such as Fungicides and Pesticides Expected to Propel the Growth of the Acetylacetone Market Over the Forecast Period
Manufacturers are constantly improving their agrochemical products so as to meet the increasing demand for quality food. The increasing demand for agrochemical products such as fungicides, pesticides, and others is expected to increase the demand for acetylacetone, as it’s used as a raw material for multiple agrochemical products.
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- Emerging Countries Promise New Opportunities of Growth
China is expected to contribute a high revenue share in the global acetylacetone market in 2018. However, substantial growth is expected in countries such as India, South Korea, and Japan, as governments and private players are focusing on improving the quality of healthcare in these countries. Among the emerging countries, China is likely to present sustained opportunities of growth for stakeholders in the acetylacetone market. Due to China’s strong growth, East Asia is projected to emerge as a lucrative market during the forecast period.
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Acetylacetone Market Structure Analysis
- The global acetylacetone market is a consolidated market, with a limited number of big market players and regional players. Some of the prominent companies in the acetylacetone market include Wacker Chemie AG, Quzhou Weirong Pharmaceutical & Chemical Co., Ltd., Huzhou Xinaote Pharmaceutical & Chemical Co., Ltd, Daicel Corporation, Liaocheng JunHang Biotech Co., Ltd., Loba Chemie Private Limited, Haihang Industry Co., Ltd., Tokyo Chemical Industry, SD Fine Chemical Ltd., and Central Drug House Private Limited, Neuchem, among others.
- Most of the key players are maintaining strategic focus on the development of distribution partnerships and agreements for global market expansion. Manufacturers are focusing on getting government approvals for VOC emissions and HAP products, and other important environmental related regulations.
- Some of the top manufacturers that are contributing a higher revenue share in the acetylacetone are Daicel Corporation, Wacker Chemie AG, and Huzhou Xinaote Pharmaceutical & Chemical Co., Ltd. Key market players such as Daicel Corporation and Wacker Chemie AG, among others, are focusing on the expansion of the acetylacetone product portfolio through distribution agreements and the launching of new products.
- Manufacturers are strengthening their market presence through agreements with suppliers and distributors. Small and regional market players also focusing on the launch new products in the acetylacetone market.
- Stakeholders in the acetylacetone market are adapting to the evolving requirements of the healthcare sector. Manufacturers are focusing on providing effective healthcare products. They are developing products for overcoming the problem of VOC emissions by acknowledging environmental regulations. It is likely that R&D investments will continue to increase during the forecast period.