Acetylacetone Market Size, Share, Growth, And Industry Analysis, By Type (Keto, Enol and Acetylacetone), By Application (Biomolecules, Agrochemicals, Pharmaceutical, Intermediate Chemicals, Dyes & Pigments and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Acetylacetone Market Report Overview

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The global acetylacetone market size was USD 43160 million in 2021 and is expected to reach USD 106009.21 million in 2031, exhibiting a CAGR of 10.5% during the forecast period.

The chemical belongs to the class of organic compounds that often come in two tautomeric forms, go through an interconversion process, and are employed as a single chemical in many different contexts. The enol form typically constitutes a sizeable portion of the molecule and is essentially the preferable form in many solvents, despite the fact that the chemical is commercially known as the diketone form and named as pentane-2, 4-dione.

It resembles a whitish liquid and is a precursor to the bidentate ligand acetylacetonate. Acetylacetone is also a component utilized in the synthesis of heterocyclic compounds. On an industrial scale, the isopropanol acetate molecule is thermally rearranged to create this chemical. In the presence of a basic catalyst, it is also employed to prepare the condensation of ethyl acetate and acetone, which is then subjected to acidification. It is used in a variety of processes, including the synthesis of metal acetylacetonates, the preparation of vitamins, as an intermediate in the production of pesticides (fungicides, sulfonyl urea-based herbicides), as a stabilizer for polyester and PVC, and as a metal deactivator in gasoline and lubricants.

Additionally, the creation of coatings for anticorrosion agents uses acetyl acetone. Due to the need for high yields and the efficient crop performance achieved through the use of pesticides, the use of acetylacetone is particularly high in the agricultural sector, making it one of the most significant worldwide commercial prospects. It also makes it possible for the number of producers and distributors of the market to grow.

COVID-19 Impact: Government Imposed Restrictions to Hamper Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with acetylacetone experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the acetylacetone market growth and demand returning to pre-pandemic levels once the pandemic is over.Due to the obligatory lockdowns and other restrictions imposed by the relevant regulating agencies in the wake of the recent COVID-19 outbreak, the operations of several industries have either temporarily been suspended or are being done with a reduced crew. This propensity will likely cause the global market to experience major declines in revenue growth, much like other markets. The high expenses involved in producing and processing the chemical are another factor that can limit the growth of the market's revenue during this projected period.

Latest Trends

"Cutting-Edge Technology to Give the Market Upper Hand"

The notable use of agrochemicals in developing nations has also boosted consumption. The use of cutting-edge strategies, such as the adoption of cutting-edge technology, is frequently used by manufacturers to produce bio-based products efficiently and at a low cost. Long-term market growth prospects will result from this. Demand is rising from end-use sectors such paints and coatings, adhesives and sealants, and pharmaceuticals is also anticipated to boost acetylacetone market growth.

Acetylacetone Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into keto, enol and acetylacetone.

In terms of product, keto is the largest segment.

• By Application Analysis

Based on application, the market can be divided into biomolecules, agrochemicals, pharmaceutical, intermediate chemicals, dyes & pigments and others.

In terms of application, agrochemical is the largest segment.

Driving Factors

"Increased Use of Pharmaceutical-Based Drugs to Provide Impetus to The Market"

Acetylacetone production and consumption have been trending upward in recent years for a variety of end-use industries, and this expansion is expected to continue over the next 5 to 10 years. It is expected that increased demand in the chemical, automotive, and agricultural industries, together with the deployment of novel production technologies, will drive market expansion in a positive direction. Increased use of pharmaceutical-based drugs, industrial growth, and rising disposable incomes have led to a boom in renovation and makeover projects as well as innovative construction ideas, which has led to an increase in this chemical’s usage across the globe.

"Demand For Resin Crosslinking Agents to Augment Market Growth"

The demand for resin crosslinking agents is expected to increase across a variety of sectors, including building & construction, textile manufacturing, paper milling, and others, making this one of the fastest-growing segments over the projected period. Most often utilized in polymer modification applications, resin crosslinking agents serve as catalysts for chemical reactions between monomers (polymer's building blocks) and those polymers (chains). After curing, these substances aid in enhancing mechanical qualities like impact strength, fracture toughness, and density, which further increases their popularity across a variety of global sectors.

Restraining Factors

"Volatile Nature of The Chemical to Impede Market Expansion"

This chemical is a chemical that is sold in bulk and has a variety of uses. However, the numerous limitations of conventional production processes, such as their numerous steps, difficult working environments, low yields, and environmental issues, limit the use of acetylacetone derived from petrochemicals. VOC chemicals that are hazardous to human respiratory systems and that may further impede market expansion are evaporated during the production of the chemical.

Acetylacetone Market Regional Insights

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"Asia Pacific to Dominate the Market Due to Rising Product Demand"

Over the course of the projected period, Asia Pacific is anticipated to maintain its dominance of the global acetylacetone market share. Rising product demand from a variety of end-use industries, including automotive, packaging, construction, electrical & electronics, can be credited with this region's rise. Additionally, it is projected that over the next few years, product demand would be driven by rising domestic manufacturing investments and expanding aluminum production capacity.

This is due to the region's strict laws regulating VOC emissions, as well as strong consumption rates from key end-use industries like construction and automotive. However, the region is anticipated to see considerable growth rates during the forecast period as a result of expanding aluminum production capabilities and supportive legislative measures designed to encourage industrialization in a number of this region's nations.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Daicel (Japan)
• Wacker (German)
• Anhui Wotu Chemical (China)
• Chiping Huahao Chemical (China)
• BASF SE (Germany)
• Yuanji Chemical (China)
• XINAOTE (China)
• Fubore (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.