The new report by Expert Market Research titled, ‘Global Acetone Cyanohydrin Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global acetone cyanohydrin market, assessing the market based on its segments like applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 9 Billion (Global Methyl Methacrylate Market)
• Forecast CAGR (2020-2025): 9% (Global Methyl Methacrylate Market)
An increasing market for plastics is driving the acetone cyanohydrin industry. In the preparation of methyl methacrylate (MMA), the substance is primarily used as an intermediate, with MMA being further converted into thermoplastic polymethyl methacrylate (PMMA). PMMA is experiencing an increased demand from various end-user industries such as electronics and electrics, healthcare, automobile, and construction, among others, with the rising affordability of plastic products. Acetone cyanohydrin is also used in insecticide manufacturing processes. It is used to produce the pharmaceutical intermediate, ethyl alpha-hydroxybutyrate. Acetone cyanohydrin is used for operations of metal separation as a complexing agent. Thus, the rising downstream demand for acetone cyanohydrin is expected to aid the market growth in the coming years.
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Industry Definition and Major Segments
Acetone cyanohydrin (ACH) can be attained via a reaction between sodium cyanide with acetone, with the product being further acidified to form acetone cyanohydrin. It is an organic compound, which is colourless. Its primary application is as an intermediate in the production of methyl methacrylate, which is further polymerised to attain the transparent plastic polymethyl methacrylate (PMMA).
The Asia Pacific region is one of the leading consumers of acetone cyanohydrin, accounting for a large market share. During the forecast period, China and India are expected to account for a massive global market share due to the increase in per capita income in these developing economies.
The market can be divided into the following segments by application:
• Complexing Agent
• Pharmaceutical Intermediates
Based on end use, the market is segmented into:
The leading regional markets for acetone cyanohydrin are:
• North America
• Latin America
• Middle East and Africa
• Asia Pacific
The affordability of plastic products is rapidly growing, as plastic is a cost-effective choice for most people worldwide, especially in developing countries, which is bolstering the global demand for acetone cyanohydrin. For the manufacture of plastic items such as plexiglass, artificial teeth, acrylic paints, laser-cut acrylic sheets, and contact lenses, acetone cyanohydrin is commonly used as an intermediate. However, the adverse effects of acetone cyanohydrin on human health might serve as a deterrent to acetone cyanohydrin’s global demand.
Key Market Players
The major players in the market are Tokyo Chemical Industry Co., Ltd, Otto Chemie Pvt Ltd, and INEOS Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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