Research Report Insights (RRI) offers comprehensive insights related to the global acetylacetone market, and provides in-depth information through designed market research. The report titled, 'Acetylacetone Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028', assesses the market, and forecasts the future market scenario on the basis of form, application, and region. The global biomolecules market was pegged over US$ 30 Mn in terms of value at the end of 2017, and is expected to register a CAGR around 4%.
The acetylacetone market is expected to experience steady growth over the forecast period. Gains are expected to be driven by its viability as an effective intermediate for anti-bacterial, antidiarrheal, and medicine for live feed stock. The demand for acetylacetone is rising as a result of the growing prevalence of usage of acetylacetone as a catalyst and solvent for multiple industrial processes in chemical industries.
Acetylacetone Finding Notable Applicability in Pharmaceuticals and Agrochemicals Industries
The increased production of agrochemicals across the world is creating ample demand for raw materials, owing to which, the demand for acetylacetone is estimated to escalate. Growth in the economies of emerging countries is anticipated to increase in the forthcoming period, which is anticipated to result into swift agricultural growth and growth in production activities. This, in turn, will directly and indirectly affect the growth of the agrochemical products market. The surging agrochemicals market is boosting the need for acetylacetone, as it is used as an intermediate in the manufacturing of fungicides and pesticides.
Population growth at an alarming rate will demand better food quality. With limited fertile land at disposal, agrochemicals are expected to play an important part in meeting the demand of the growing population, which, in turn, is expected to drive the acetylacetone market. Increasing research and development in the agrochemical sector is expected to increase the acetylacetone market.
Growth of the pharmaceutical market is expected to increase the demand for acetylacetone. Increasing affordability of drugs and healthcare products is estimated to drive the production of acetylacetone over the forecast period. Pharmaceutical product categories such as antibacterial and antidiarrheal have made place in every household’s medicine cabinet. Increasing urbanization and increasing awareness regarding better healthcare products are expected to boost the acetylacetone market.
Snowballing growth in the chemical industry sector in countries such as China and India, among others, has also escalated the demand for acetylacetone as a catalyst. Acetylacetone finds application in budding sectors such as biomolecules, dyes, and paints.
Asia Pacific to Remain Prominent Market for Acetylacetone
Acetylacetone finds versatile applications in making biomolecules, agrochemicals, and dyes & pigments, among others. Biomolecules and heterocyclic compound synthesis are estimated to be front runners in the acetylacetone market in terms of volumetric consumption. However, heterocyclic compounds are expected to lead the market in terms of volume and value, just with a slight edge.
Certain countries of the Asia Pacific region, such as India, China, and Malaysia have recently witnessed growth in the chemical market, owing to lenient government regulations and higher focus on production. Countries such as China and India have witnessed growth in the acetylacetone market due to an increase in the disposable income of such emerging countries. Increasing pharmaceutical demand in North American and Europe owning to high per capita income of countries such as Germany and Spain, among others, is expected to propel the acetylacetone market. The Government of India has launched the initiative – 'Pharma Vision 2020', aiming to make India a leading force for end-to-end drug discovery and innovation, which is expected to make India a potentially stronger market over the forecast years for acetylacetone.
The high costs of agrochemicals and low farmer awareness are the major constraints for the growth in Latin America. Most of the acetylacetone demand from agrochemicals is expected to be from countries such as Brazil, Argentina, and Mexico. Countries in Latin America hold a respectable amount of land for agricultural activities, which is estimated to enhance the acetylacetone market. Hence, with better management by governments of agriculture and agrochemicals usage, Latin America is expected to be a good potential market.
Acetylacetone Market: Competition Landscape
Some of the players listed in the analysis of the global 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., Central Drug House Private Limited, and Neuchem, among others.