Acetone Cyanohydrin Market: Overview

Acetone cyanohydrin is a colorless liquid that is used as an intermediate for chemical synthesis. It is also known as cyanohydrin-2-propanone, α-hydroxyisobutyronitrile, and 2-hydroxy-2-methyl-propionitrile. At lab scale, acetone cyanohydrin is produced by the reaction of sodium cyanide with acetone. Further, the resulting mixture is acidified to form acetone cyanohydrin. Acetone cyanohydrin is incompatible with sulfuric acid, caustics. It is majorly used in the production of methyl methacrylate, which is a monomer of transparent plastic polymethyl methacrylate (PMMA) (also called acrylic). PMMA is a thermoplastic material, which is used as a substitute for glass due to its resistance to UV light and light transmitting ability. Plastic polymethyl methacrylate is employed in making windows of cars, screens of cellphones, aquariums, etc.

Acetone Cyanohydrin Market: Drivers & Restraints

Affordability of plastics products is increasing at a rapid pace, as plastic is a cost effective option, for most of the people across globe, especially in developing nation. This is driving the acetone cyanohydrin market. Additionally, acetone cyanohydrin is classified as an extremely hazardous substance by the U.S. Emergency Planning and Community Right-To-Know Act. It can cause issues in breathing and enlargement of the thyroid gland. Decomposition of acetone cyanohydrin releases highly toxic hydrogen cyanide. The adverse effects of acetone cyanohydrin on human health is acting as a restraint for the global acetone cyanohydrin market.

Acetone Cyanohydrin Market: Key Segments

In terms of end-user, the global acetone cyanohydrin market can be divided into insecticide, pharmaceuticals, plastics, and others (including perfumes). Acetone cyanohydrin is widely used as an intermediate for the production of plastic products such as plexiglass, artificial teeth, acrylic paints, laser cut acrylic panels, and contact lenses. Acetone cyanohydrin is also employed in production of insecticides. It is used to manufacture ethyl alpha-hydroxyisobutyrate, which is a pharmaceutical intermediate. Acetone cyanohydrins is used as a complexing agent for metal separation processes. Despite these applications, acetone cyanohydrin is considered potentially hazardous chemical, as it releases hydrogen cyanide when it comes in contact with water. Environmental and health regulations associated with acetone cyanohydrins in North America and Europe are acting as major restraints for the market. 

Acetone Cyanohydrin Market: Regional Outlook

In terms of region, the global acetone cyanohydrin market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. China and India are anticipated to constitute major share of the global market during the forecast period. The acetone cyanohydrin market in Asia Pacific is likely to expand at a rapid pace due to the rise in per capita income in developing economies such as China and India. Increase in per capita income is boosting the spending power of consumers. This, in turn, is estimated to propel the demand for plastic and its products in Asia Pacific.

Acetone Cyanohydrin Market: Key Players

Prominent players operating in the global acetone cyanohydrin market include Tokyo Chemical Industry Co., Ltd., BASF SE, Evonik Industries AG, Mitsubishi Chemicals Co. Ltd., The Dow Chemical Company, and INEOS AG. These companies are engaged in research and development activities, strategic alliances, and mergers and acquisitions to gain market share.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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