Increasing consumption of Acetophenone in various applications such as ingredient of fragrances in food & beverages, specialty solvent soaps in plastics and resins and in polymerization of olefins as a catalyst has resulted in growing demand for global acetophenone market. Acetophenone (formula: C6H5C(O)CH3) is an organic compound and the simplest form of sweet-smelling ketone. It is a thick colourless liquid and is an important precursor to useful fragrances and resins. It naturally occurs in apple, cauliflower, apricot, cheese, banana and beef. By different methods, acetophenone can be obtained. Acetophenone is accomplished by reaction of ethyl benzene with oxygen, which is also one of the key manufacturing methods for acetophenone in the industry. However some other manufacturing methods are also witnessing growth in the global acetophenone market.
Acetophenone Market: Drivers & Restraints
One of the key drivers for the global acetophenone market can be attributed to the application of precursor to resins. Also, increasing demand from end use industries such as use in pharmaceuticals, food & beverages, consumer goods (detergent, soaps, lotions and creams) and others (tobacco, chewing gum and cigarettes) are fuelling the growth of the acetophenone market. Increasing disposable income and inclination towards luxury goods in emerging economies is also expected to drive the global acetophenone market in coming five years. However, transient corneal injury and skin irritation in human’s as well as numerous regulations concerns act as restraints in the growth of global acetophenone market.
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Acetophenone Market: Segmentation
On the basis of End-User, the global acetophenone market has been broadly segmented into:
- Perfumes & Fragrances
- Pharmaceutical Products
On the basis of regions the global acetophenone market has been segmented into North America, Latin America, Eastern Europe, Western Europe, Middle East & Africa, Asia-Pacific and Japan.
Acetophenone Market: Region-wise Outlook
The global acetophenone market is dominated by Asia Pacific (excluding Japan) region in terms of global consumption of acetophenone. The emerging economies such as China and India witness an increased demand for high end and luxury products as a result of increase in disposable income and living standard. The Asia-Pacific region is followed by North American region in the global acetophenone market, wherein the U.S. is the key market for perfume & fragrance manufacturers. Furthermore, Western European region is the next key region, in the global acetophenone market. The Western European region accounts for a large number of fragrance manufacturers, resulting in high demand for acetophenone.
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Acetophenone Market: Key Players
Some of the key market players in the global Acetophenone market include Rhodia, Alfa Aesar, CellMark USA LLC, INEOS Phenol and many others.