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Acetophenone Market

Acetophenone Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Acetophenone: Introduction

  • Acetophenone is an organic compound represented by the chemical formula C6H5C (O) CH3. It is used for various applications including fragrances, pharmaceuticals, toiletries, and food & beverages.
  • Acetophenone is a thick colorless liquid that occurs naturally in cauliflowers, cheese, and red meat. There are numerous methods to obtain acetophenone from natural sources as well as synthetically. Acetophenone is often used as a precursor for a number of compounds and applications. It is an important precursor for fragrances and resins.

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Key Drivers of Global Acetophenone Market

  • The acetophenone market is estimated to expand at a significant pace owing to rise in consumption of acetophenone in perfume & fragrance production. Acetophenone is also used in various pharmaceutical applications as a direct ingredient in manufacturing processes.
  • Increase in demand for acetophenone in the food & beverages industry is also anticipated to drive the market during the forecast period
  • The acetophenone market faces certain challenges. Many health care institutes have cited a number of dermatological issues associated with high usage of acetophenone.
  • Application in fragrances, pharmaceuticals, resins, laboratory reagent, and chewing gums; and increase in usage as precursor in manufacturing process of several chemicals are boosting the demand for acetophenone in various end-use industries
  •  Acetophenone is extensively used as perfumery ingredient in detergents, soaps, lotions, and creams. It is also widely used as specialty solvent in resins and plastics.

Perfumes & Fragrance Application Segment to Expand at Significant Pace

  • The perfumes & fragrance application segment is expected to dominate the acetophenone market during the forecast period. Rapid urbanization and growth in the consumer goods industry are estimated to propel the demand for perfumes and fragrances. Acetophenone is widely used in production of fragrances for its aroma. It is also broadly used in creams, lotions, soaps, and detergents to enhance scents.
  • The usage of acetophenone is expected to rise significantly in the pharmaceutical industry owing to its increasing applications in tablets. Rise in demand for anticonvulsants in the pharmaceutical industry is estimated to fuel the acetophenone market. Furthermore, increase in consumption of acetophenone in synthesis of various drugs such as pyrrobutamine, dextropropoxyphene, pridinol, trihexyphenidyl, biperiden, procyclidine, cycrimine, benmoxin, mesuximide, and acifran is likely to boost the demand for acetophenone in pharmaceutical applications.

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Covid-19 Impact on Acetophenone Market

  • The COVID-19 pandemic has adversely affected the global acetophenone market. Weaker consumer demand for lifestyle and wellbeing products due to social restrictions and lockdown policies may have a negative impact on the demand for cosmetic ingredients and certain categories of food additives. This is expected to hamper the global acetophenone market. However, easing of restrictions and revival of economic activities in the consumer goods market space indicate the recovery of the acetophenone market

Asia Pacific to Hold Significant Share of Global Acetophenone Market

  • In terms of region, the global acetophenone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is projected to lead the acetophenone market during the forecast period. Growth in the food & beverages industry is the key driver of the acetophenone market in the region.
  • North America is a key user of acetophenone for fragrances application. Growth of the fragrance industry in North America is expected to drive the market in the region. However, the usage of this compound in food has been restricted over the last few years in North America and Europe due to health concerns.

Key Players Operating in Global Market

  • Manufacturers of acetophenone are focusing on R&D and technological advancements in the production process. Key players operating in the global acetophenone market include:
    • Alfa Aesar
    • Rhodia
    • INEOS Phenol
    • CellMark USA LLC
    • Tanfac
    • A.B. Enterprises
    • Triveni Interchem

Global Acetophenone Market: Research Scope

Global Acetophenone Market, by Application

  • Perfumes & Fragrances
  • Pharmaceuticals
  • Food & Beverages
  • Resins
  • Others

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