Diacetone Alcohol Market Research Report Overview by Top Key Players, Opportunities, Key Drivers, Application and Regional Outlook to 2023
Global Diacetone Alcohol Market Overview
Diacetone Alcohol or DAA, an oxygenated solvent with high solubility property is a derivative of Alcohol with the non-ethanol component. Diacetone Alcohol is prominently used as a solvent in industrial and consumer products for purification process, adhesives, paints, thinners and household cleaners. This is the key factor propelling the market growth and continuing with the same trend; the market will perceive a significant increase.
Acknowledging the kind of traction gained by this market, Market Research Future recently published a study report. According to the report, continuing with the same trends, the Global DAA Market is projected to accrue USD 1,594.5 Million by 2023 at a CAGR of 4.85% during 2017 to 2023. This will be attributed to increased absorption of DAA by the prominent end-use industries.
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Industry/ Innovation/ Related News:
May 17, 2018 – Arkema S.A., (France) One of the global producers of DAA announced the acquisition of the industrial adhesives business of Nitta-Gelatin Inc. (Japan), one of the leaders in the global gelatin and collagen peptide markets. This is expected to expand Arkema’s industrial adhesives presence in Japan. Through their Joint venture – an adhesives subsidiary – Bostik S.A., Arkema and Nitta operate Bostik-Nitta, which produces industrial adhesives. The Joint venture represents sales of about $35.4 million.
February 21, 2017 – Arkema S.A., announced a price increase of 250 to 300 Euros per ton or as contracts allow for its Diacétone Alcool (DAA), along with some other oxygenated solvents, effective from March 1st 2017. The company mentions that the higher energy and raw materials costs are the main reasons, the company has taken the decision of this hike.
Global DAA Market – Regional Analysis
The Asia Pacific accounted for the leading market in 2016, possessing the largest market share. Retaining its dominance, the region is estimated to register 5.34% CAGR during the review period. Factors such as rapid industrialization and the presence of numerous producers coupled with the availability of cost-comprehensive labor-force and growing exports drive the regional market growth.
North America, accounted for the second largest market, in 2016 and is further expected to reach US$ 331.4 Mn by 2023. The U.S. among the other North American countries, backed by the greater penetration of end-user industries in the country, accounts for the major contributor to the market growth. As the third largest market for Diacetone Alcohol, Europe accounted for of 18% market share in 2016.
Germany dominates the European market share in terms of value and volume due to increasing demand for paints & coatings from both household and automotive industry. The Middle East & Africa and Latin America, regions are estimated to grow at a moderate rate during the forecast period.
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