According to Fact.MR, a market research and competitive intelligence provider, the global diacetone alcohol market is estimated to exceed a valuation of US$ 1.44 billion in 2022, and further expand at a CAGR of 4.3% by value over the assessment period (2022-2032).
Diacetone alcohol is a carbon-based compound with the formula CH3C (O) CH2C (OH), sometimes called DAA. It is a colourless, non-corrosive, limpid liquid and miscible with most common organic solvents.
The paints & coatings industry is broad and dynamic. Rising demand for paints & coatings for use in medical products, automotive, transportation equipment, and wood & non-wood products is driving the market.
Rise in the use of diacetone alcohol as a chemical intermediate for the preparation of other compounds such as hexylene glycol and methyl isobutyl will propel the market of diacetone alcohol over the coming years. Moreover, wide use of diacetone alcohol as a preservative is escalating its demand; it is widely used to preserve animal tissues.
Additionally, increased use of diacetone alcohol in applications such as chemical intermediaries, solvents, etc., is set to drive market growth going forward.
Key Takeaways from Market Study
- By end use, textiles are projected to provide value worth US$ 571.2 million by 2032, whereas automotive is projected to reach 455.8 million.
- By application, solvents are projected to provide a value of US$ 572.2 million by 2032.
- Based on end use, the automotive sector is projected to expand at a CAGR of around 3.6%.
- The oil & gas industry is expected to hold 9.6% market share.
- On the basis of end use, paints & coatings are projected to dominate the diacetone alcohol market by accounting for 36.2% share in 2032.
“The U.S. accounts for significant diacetone alcohol consumption, being widely used across the paints & coatings and automotive sectors in the country,” says a Fact.MR’s analyst
Winning Strategy
Manufacturers involved in the production of diacetone alcohol can be seen investing in research & development and focusing on coatings with highly specialized applications, such as antimicrobial coatings.
- In 2021, one of the leading manufacturers, SI Group, expanded its partnership with Brenntag to sell its plastic solution products. According to the SI Group, this partnership will increase the availability of SI Group’s high-performance coating resins and intermediates in this key market.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global diacetone alcohol market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (solvents, chemical intermediaries, cleaning, drilling fluids, preservatives, and other applications), and end use (paints & coatings, textiles, automotive, oil & gas, and other end uses), across seven major regions of the world (North America, Latin America, Europe, APAC, and MEA).
About the Chemicals Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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