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
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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
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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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?
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