Diacetone Alcohol Market – Market Overview
The Global Diacetone Alcohol is estimated to reach USD 1.5 billion by 2023 with projected CAGR of 4.85% during the forecast period. Diacetone Alcohol is oxygenated solvent produced by adol condensation of acetone. It is derivative of alcohol found in plant known as sleepy grass. They possess superior properties such as colorless, odourless and highly soluble with low evaporation rate. Due to aforementioned properties, they are used in numerous application such as paints & coatings, textile, automotive and oil & gas among others.
Though Diacetone Alcohol Market is niche segment, they have some of the positive factors driving the market growth. On of them is rising demand of solvents in paints & coatings industry. Diacetone Alcohol is used as one of the key raw material for manufacturing of solvents. Solvents occupy more than two third of market share in paints & coating industry which is expected to reach more than USD 200 billion markets. On the other hand, rising construction activities and increasing environmental regulatory pressure for usage of eco-friendly solvents are likely to propel the market growth.
The market is of USD 449.3 million by 2016 and estimated to grow at fastest CAGR during assessment period segmented into application and end use industry. On basis of application, the market is segregated into solvents, chemical intermediates, cleaning, drilling fluids, preservatives and others. Solvents account for largest market. Rising demand for solvents in dyes and textiles coupled with growing consumer products such as adhesives, printing inks and paint removers are likely to fuel the product demand in solvents. Chemical intermediates segment is trailing behind solvents segment due to growing non-specific solvent application along with production of methyl isobutyl ketone (MIBK) used as solvents. Based on end use industry, the market is divided as paints & coating industry, oil & gas, textile, and automotive among others. Rising infrastructure activities along with high demand of renewable solvents in paints & coating industry are expected to drive the market growth. Paints & coatings industry segment is anticipated to witness fastest growth on account of growing demand of bio-based paints & coatings in building & construction industry and automotive industry. Textile and automotive industry is trailing behind paints & coatings segment.
Among regions, Asia Pacific region is leading market followed by North America and Europe. Robust growth of automotive and paints & coatings industry is expected to drive the market growth. China and India are leading countries accounting for more than 65% of market share in this region. Rapid urbanization coupled with rising disposable income are likely to drive the market growth. Growing demand for modern construction arts with sustainability principles are further anticipated to augment the product demand. North America is second most prominent industry and witness considerable growth during forecast period. Increasing number of household with dual income are anticipated to stimulate the growth of Diacetone Alcohol Market. Europe witnessed significant growth on account of presence of considerable number of producers coupled with growing exports.
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Diacetone Alcohol Market – Competitive Analysis
The Diacetone Alcohol Market is highly fragmented market with presence of tier 1 players as well as presence of small sized players in regional market. The major players operating in the market are either adopting strategic alliance for sustainability development. These strategies include acquisition, partnership or collaboration, product launch and expansion. The Global Diacetone Alcohol Market is operating at growth stage in life cycle and expected to maintain its stats through the assessment period. Although Diacetone Alcohol is niche segment in acetone market, key players are expanding oxygenated solvent business to maintain the market share. Few players are also collaborating across value chain to maintain profit share. Arkema and Solvay are two major players operating in the Global Diacetone Market and account for one third of market share. For instance, Solvay is leading manufacturer in oxygenated solvents and phenol derivative majorly in Latin America.
Industry/ Innovation/ Related News:
October 2015 – SGBio is leading producer of n-butanol. Since 2014, the company is under collaboration between GranBio and Rhodia, a Solvay Group Company. This compound is basically used for manufacturing of paints and solvents. In October 2015, SGBio acquired assets from Cobalt Technologies which offers continuous process to effectively produce non-feedstock into bio-butanol. Cobalt Technologies are leading developer of n-butanol, acetone, ethanol and butene from natural ingredient like biomass. With rising demand for eco-friendly products and stringent government regulation, company has strengthened its position into green development with bio-butanol and bio-acetone production.
October 2015 – Rhodia, a Solvay Group Company, launched the Solsys brand in line with wide range of products by also adding items sold under Rhodiasolv brand previously. The company has large portfolio in oxygenated solvents covering all current and future environment trends including chemical families such as acetone, ketones, alcohols, glycols and keto-alcohol. The main product line is Augeo® which is oxygenated solvent based on renewable source for paints and varnishes, leather and wood. The product is mainly derived from Brazilian biodiesel and act as competitive alternative to conventional solvents. Although, major players in market are focusing on sustainability development principles, entering in eco-friendly systems benefit the company’s position for long term profit.
August 2013- GranBio and Rhodia, a Solvay Group company, signed an agreement to produce n-butanol from biomass. GranBio, is leading Brazilian Technology Company, focusing on biofuels and biochemicals. In early 2014, company started world’s first second generation biomass-based ethanol plant in Brazil. Under this partnership, company builds biomass-based n-butanol production which enter into production in late 2015. This plant uses same raw material such as straw and bagasse which is abundant in Brazil.
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