Global Acetophenone Market 2024-2031

PUBLISHED: July 1, 2024

PAGES: 125 Pages

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Acetophenone Market Size, Share & Trends Analysis Report by Form (Solid, Liquid, and Others), and by Application (Industrial Solvents, Pharmaceuticals, Flavors, Fragrances, and Others) Forecast Period (2024-2031)

Acetophenone market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2024-2031). The market growth is attributed to the growing demand for acetophenone in consumer goods, food and beverage, medicines, and resins globally. With recent technological advancements and ongoing research & development initiatives aimed at improving production processes and identifying new applications, acetophenone is growing considerably in demand across several industries.

Market Dynamics

Increasing Pharmaceutical and Fragrance Industries

The increasing trend of the pharmaceutical business to increase their reliance on acetophenone as a critical step in the drug-production process is creating a huge demand for acetophenone. Acetophenone's primary use as a scent ingredient in cosmetics and perfumes as well as a flavoring agent in the food and beverage sector is further aiding its market demand. Agrochemicals, medicines, and other organic molecules are all synthesized using acetophenone as a precursor. The increasing growth of the healthcare industry and rising investments in R&D fuel the demand for pharmaceuticals, which will in turn increase the need for acetophenone as a precursor. Orange flower scent is added via acetophenone to lotions, soaps, detergents, and fragrances. Acetophenone concentrations in these items can be as low as 20-50 ppm in detergents and lotions, and as high as 2000 ppm in perfumes.

Increasing Uses of Acetophenone in Resins and Coatings

The utilization of acetophenone is on the rise owing to the rising demand for high-performance resins and polymers in the building and automotive sectors. 1-3 Acetophenone formaldehyde resins are used as cost-effective binders in coating materials and printing inks, in combination with other raw materials such as cellulose nitrate. They improve gloss, fullness, hiding power, solids content, adhesion, and drying. Dollmar S.p.A offer acetophenone, which is used as an intermediate and in the preparation of alcohol-soluble resins. Acetophenone is used in industry as a photosensitizer in organic synthesis, a catalyst for olefin polymerization, and a specialized solvent for resins and plastics. Acetophenone has been used historically as a sedative, anesthetic, and a substance to produce analgesia.

Market Segmentation

Based on the form, the market is segmented into solid, liquid, and others including solidified melt/ supercooled melt.
Based on the application, the market is segmented into industrial solvents, pharmaceuticals, flavors, fragrances, and others including pesticides).

Liquid is Projected to Hold the Largest Segment

The liquid segment is expected to hold the largest share of the market. The primary factors supporting the growth include the growing use of liquid acetophenone as a food and beverage flavoring agent, and as a solvent for plastics and resins. The liquid acetophenone is also used as an ingredient in perfumes and as a chemical intermediate in the manufacturing of pharmaceuticals, resins, flavoring agents, and a form of tear gas.

Pharmaceuticals Segment to Hold a Considerable Market Share

The pharmaceuticals segment is expected to hold a considerable share of the market. The high usage of acetophenone as an anesthetic agent to induce analgesia is a key contributor to the high share of this market segment. Due to its chemical nature and reactivity, it is used as a precursor in heterocyclic synthesis and the ideal synthon for multicomponent reactions based on simple aldol condensations or the a-functionalization strategy.

Regional Outlook

The global acetophenone market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Increasing Application of Acetophenone in Europe

The regional growth is attributed to the increasing demand for Acetophenone in resins, pharmaceuticals, food and beverages, and consumer goods in countries such as Germany, the UK, and France. Acetophenone is gaining new applications in agrochemicals, dyes, and polymers which is offering growth opportunities for regional market growth. The regional companies have the potential to grow as acetophenone finds new uses in agrochemicals, dyes, and polymers. The acetophenone market may expand owing to the growing R&D spending, sustainability efforts, and environmentally friendly production methods.

North America Holds Major Market Share

North America holds a significant share owing to numerous prominent acetophenone manufacturers and providers such as Actylis, Thermo Fisher Scientific Inc., and Vigon International, Inc., in the region. The expansion of the market in the region is driven by the high adoption of acetophenone in consumer goods, food and beverage, pharmaceuticals, and resins. According to the National Center for Biotechnology Information (NCBI), in January 2023, natural and synthetic simple acetophenone derivatives were analyzed as promising agrochemicals and useful scaffolds for drug research and development. The market players in the region offer acetophenone as an active pharmaceutical ingredient. For instance, Thermo Fisher Scientific Inc. provides acetophenone, 99% purity. Acetophenone is used as a raw material in the synthesis of active pharmaceutical ingredients such as dextropropoxyphene and phenylpropanolamine.

The major companies serving the acetophenone market include FUJIFILM Corp., Merck KGaA, Solvay Group, Sumitomo Chemical Co Ltd., and Thermo Fisher Scientific Inc. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.

Product Code: OMR2028634

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Market Trends
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. FUJIFILM Corp.
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. Merck KGaA
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Solvay Group
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Sumitomo Chemical Co Ltd.
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Thermo Fisher Scientific Inc.
- 3.6.1. Overview
- 3.6.2. Financial Analysis
- 3.6.3. SWOT Analysis
- 3.6.4. Recent Developments
3.7. Key Strategy Analysis

4. Market Segmentation

4.1. Global Acetophenone Market by Form
- 4.1.1. Solid
- 4.1.2. Liquid
- 4.1.3. Others (Solidified Melt/ Supercooled Melt)
4.2. Global Acetophenone Market by Application
- 4.2.1. Industrial Solvents
- 4.2.2. Pharmaceuticals
- 4.2.3. Flavors
- 4.2.4. Fragrances
- 4.2.5. Others (Pesticide)

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
- 5.4.1. Latin America
- 5.4.2. Middle East & Africa

6. Company Profiles

6.1. Actylis
6.2. Antares Chemical Pvt. Ltd.
6.3. Biesterfeld AG
6.4. CellMark USA LLC
6.5. Domo Chemicals
6.6. INEOS Phenol
6.7. JK Chemicals
6.8. Ketan Chemical Corp.
6.9. Kind Chemical Inc.
6.10. Mitsui Chemicals, Inc.
6.11. Prasol Chemicals Ltd.
6.12. SAE Manufacturing Specialties Corp.
6.13. SI Group
6.14. Sun Industries
6.15. Supelco, Inc.
6.16. Tanfac Industries Ltd.
6.17. Triveni Interchem Pvt. Ltd.
6.18. Vigon International, Inc.
6.19. Wego Chemical Group Inc.

Product Code: OMR2028634

LIST OF TABLES

1. Global Acetophenone Market Research And Analysis By Form, 2023-2031 ($ Million)
2. Global Solid Acetophenone Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Liquid Acetophenone Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Other Form Acetophenone Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global Acetophenone Market Research And Analysis By Application, 2023-2031 ($ Million)
6. Global Acetophenone For Industrial Solvents Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Acetophenone For Pharmaceuticals Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global Acetophenone For Flavors Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Acetophenone For Fragrances Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Acetophenone For Other Applications Market Research And Analysis By Region, 2023-2031 ($ Million)
11. Global Acetophenone Market Research And Analysis By Region, 2023-2031 ($ Million)
12. North American Acetophenone Market Research And Analysis By Country, 2023-2031 ($ Million)
13. North American Acetophenone Market Research And Analysis By Form, 2023-2031 ($ Million)
14. North American Acetophenone Market Research And Analysis By Application, 2023-2031 ($ Million)
15. European Acetophenone Market Research And Analysis By Country, 2023-2031 ($ Million)
16. European Acetophenone Market Research And Analysis By Form, 2023-2031 ($ Million)
17. European Acetophenone Market Research And Analysis By Application, 2023-2031 ($ Million)
18. Asia-Pacific Acetophenone Market Research And Analysis By Country, 2023-2031 ($ Million)
19. Asia-Pacific Acetophenone Market Research And Analysis By Form, 2023-2031 ($ Million)
20. Asia-Pacific Acetophenone Market Research And Analysis By Application, 2023-2031 ($ Million)
21. Rest Of The World Acetophenone Market Research And Analysis By Region, 2023-2031 ($ Million)
22. Rest Of The World Acetophenone Market Research And Analysis By Form, 2023-2031 ($ Million)
23. Rest Of The World Acetophenone Market Research And Analysis By Application, 2023-2031 ($ Million)

LIST OF FIGURES

1. Global Acetophenone Market Share By Form, 2023 Vs 2031 (%)
2. Global Solid Acetophenone Market Share By Region, 2023 Vs 2031 (%)
3. Global Liquid Acetophenone Market Share By Region, 2023 Vs 2031 (%)
4. Global Other Form Acetophenone Market Share By Region, 2023 Vs 2031 (%)
5. Global Acetophenone Market Share By Application, 2023 Vs 2031 (%)
6. Global Acetophenone For Industrial Solvents Market Share By Region, 2023 Vs 2031 (%)
7. Global Acetophenone For Pharmaceuticals Market Share By Region, 2023 Vs 2031 (%)
8. Global Acetophenone For Flavors Market Share By Region, 2023 Vs 2031 (%)
9. Global Acetophenone For Fragrances Market Share By Region, 2023 Vs 2031 (%)
10. Global Acetophenone For Other Applications Market Share By Region, 2023 Vs 2031 (%)
11. Global Acetophenone Market Share By Region, 2023 Vs 2031 (%)
12. US Acetophenone Market Size, 2023-2031 ($ Million)
13. Canada Acetophenone Market Size, 2023-2031 ($ Million)
14. UK Acetophenone Market Size, 2023-2031 ($ Million)
15. France Acetophenone Market Size, 2023-2031 ($ Million)
16. Germany Acetophenone Market Size, 2023-2031 ($ Million)
17. Italy Acetophenone Market Size, 2023-2031 ($ Million)
18. Spain Acetophenone Market Size, 2023-2031 ($ Million)
19. Rest Of Europe Acetophenone Market Size, 2023-2031 ($ Million)
20. India Acetophenone Market Size, 2023-2031 ($ Million)
21. China Acetophenone Market Size, 2023-2031 ($ Million)
22. Japan Acetophenone Market Size, 2023-2031 ($ Million)
23. South Korea Acetophenone Market Size, 2023-2031 ($ Million)
24. Rest Of Asia-Pacific Acetophenone Market Size, 2023-2031 ($ Million)
25. Latin America Acetophenone Market Size, 2023-2031 ($ Million)
26. Middle East And Africa Acetophenone Market Size, 2023-2031 ($ Million)