Acetylacetone is a colorless or light yellow transparent organic liquid under normal temperature. It exists in two tautomeric forms that interconvert rapidly and are treated as single compound in many applications. Acetylacetone is widely used in various industries such as chemical, pharmaceutical, and agrochemicals as synthesizer, intermediator, promoter, and desiccating and bridging agent.
Acetylacetone market is expected to exhibit significant growth over the forecast period, owing to increasing applications of acetylacetone in various end-use industries and growth of these industries. For instance, according to India Brand Equity Foundation (IBEF), pharmaceutical sector in India was valued at US$ 33 billion in 2017, which is expected to reach US$ 55 billion in 2020.
In addition to this, growing applications as synthesizer and stabilizer in agrochemicals, biomolecules, fragrances, dyes & pigments, and polyesters is to propel the revenue for the global acetylacetone market in the near future.
Among region, Asia Pacific and North America are expected to exhibit increasing demand for acetylacetone during the forecast period, owing to growing chemical industry in these regions. Acetylacetone is used as a chemical intermediate in formulation and preparation of pesticides and herbicides such as mepanipyrim, mepanipyrim is projected to contribute higher demand for the acetylacetone over the forecast period. For instance, according to the India Brand Equity Foundation, in terms of value and production volume, Indian chemical industry is the third largest in Asia Pacific and sixth largest in the world, in terms of revenue generated annually. Indian chemical industry was valued at US$ 224 billion in 2017 and is expected to reach US$ 403 billion by the end of 2025.
Moreover, Indian companies received 304 Abbreviated New Drug Application (ANDA) approvals from the U.S. Food and Drug Administration (U.S. FDA) in 2017. The country accounts for around 30 per cent (by volume) and around 10 per cent (value) in the US$ 70-80 billion U.S. generics market. This scenario is expected to boost revenue of the acetylacetone market from pharmaceutical industry over the forecast period.
Key players operating in the global acetylacetone market include Merck KGaA, Wacker, Weirong, XINAOTE, Daicel, BASF SE, Chiping Huahao Chemical, Fubore, Yuanji Chemical, Anhui Wotu Chemical, and others.
On the basis of product type, the global acetylacetone market is segmented into:
On the basis of application, the global acetylacetone market is segmented into:
On the basis of region, the global acetylacetone market is segmented into: