Hydroxyacetophenone and Phenyl Acetate Market: Overview
- Hydroxyacetophenone is also known as 2-Hydroxyacetophenone (o-hydroxyacetophenone) or 3-Hydroxyacetophenone (m-hydroxyacetophenone) or 4-Hydroxyacetophenone (p-hydroxyacetophenone, piceol). It is weak acidic and slightly soluble compound. It is a balsam tasting, sweet, and mild compound found in sweet oranges.
- Hydroxyacetophenone is a skin conditioning and synthetic antioxidant ingredient. It has soothing ability, since it can prevent an enzyme in skin’s surface which leads to signs of irritation. It act as anti-irritant, anti-oxidant, and preservative booster.
- Phenyl acetate is also known as acetylphenol or acetates. It is the ester of phenol and acetic acid. It is an aromatic fatty acid metabolite of phenylalanine. It has potential antineoplastic activity. It can be biosynthesized from phenol.
- Phenyl acetate is used as a chemical intermediate, solvent, and as laboratory reagent
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Rise in Demand for Pharmaceuticals to Drive Hydroxyacetophenone and Phenyl Acetate Market
- Growth in the pharmaceuticals industry in Asia Pacific is projected to drive the hydroxyacetophenone and phenyl acetate market in the region during the forecast period
- Extensive usage of hydroxyacetophenone and phenyl acetate in agrochemicals is expected to drive the global market
- Rise in consumption of hydroxyacetophenone and phenyl acetate as catalyst in various applications including agrochemicals, cosmetics, and flavors & fragrance is estimated to boost the market during the forecast period
- Volatility in prices of raw materials is expected to restrain the market during the forecast period
- The hydroxyacetophenone and phenyl acetate market is facing supply-demand shortages due to the industrial shutdown triggered by the COVID 19 outbreak. Disruption in raw material supply is projected to hamper full-scale operations. Supply shortage also raises the prices of raw material. Affected downstream supply chain might take longer time to be restored. The industrial shutdown has also adversely impacted product and inventory transportation, as logistic services have been hampered due to the COVID-19 outbreak.
Industrial Grade Segment to Offer Lucrative Opportunities
- Based on grade, the global hydroxyacetophenone and phenyl acetate market can be segmented into industrial, cosmetics, and pharmaceutical
- Industrial grade segment of Hydroxyacetophenone and Phenyl Acetate is anticipated to dominate the market followed by pharmaceutical grade.
Pharmaceuticals Application Segment to Hold Major Share of Market
- Based on application, the hydroxyacetophenone and phenyl acetate market can be divided into pharmaceuticals, specialty polymers, semiconductors, agrochemicals, cosmetics, flavors & fragrance, and others
- The pharmaceuticals segment held the major share of the market in 2019. This trend is expected to continue during the forecast period.
- Rise in demand for cosmetics is anticipated to drive the demand for hydroxyacetophenone and phenyl acetate during the forecast period
Asia Pacific to Constitute Significant Share of Global Market
- In terms of region, the global hydroxyacetophenone and phenyl acetate market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global market in 2019, due to the presence of key manufacturers, especially in China
- Expansion of pharmaceutical and cosmetics industries in Asia Pacific is likely to boost the hydroxyacetophenone and phenyl acetate market in the region
- North America also held vital share of the global hydroxyacetophenone and phenyl acetate market in 2019
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Key Players in Market
The global hydroxyacetophenone and phenyl acetate market is fragmented, with the presence of several regional and global manufacturers. Prominent players operating in the market are investing in production capacity expansion in order to maintain their leading position. They are also investing in advanced manufacturing processes.
Key players operating in the global hydroxyacetophenone and phenyl acetate market include:
- BASF SE
- TCI America
- Vigon International, Inc.
- Sinohigh Chem
- Minsheng Chem
- Ansciep Chem
- Huaxia Pesticide
- Tianhong Tianda
Global Hydroxyacetophenone and Phenyl Acetate Market: Research Scope
Global Hydroxyacetophenone and Phenyl Acetate Market, by Grade
Global Hydroxyacetophenone and Phenyl Acetate Market, by Application
- Specialty Polymers
- Flavors & Fragrance
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
- 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.