San Francisco, California, August 22, 2018: The global diacetone alcohol market is prognosticated to witness a surge in its demand in years to come due to its use as solvent in various industrial applications, notices TMR in their report titled, “Diacetone Alcohol Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028”. Diacetone alcohol has been found to be used as solvent in industrial application like coatings, cleaning, polymer processing, water treatment, metal working fluids, and lubricants, thus promoting the growth of the market.
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The chemical is also used to be found in products such as adhesives, inks, household cleaners, agrochemicals, and paints. The major consumer of diacetone alcohol is the paints and coatings industry, as it uses the chemical for creating lacquer thinners, wood preservatives, lacquer, wood stains, printing pastes, and dopes. In the recent years there has been a surge in construction activities all across the world, which is rising the demand for paint and coating industry, thus directly promoting the growth of diacetone alcohol market. Rise in disposable income all across the world is favoring the growth of the market. Preference of rich taste while beautification of residential and commercial setup is promoting the growth of the market. Rise in strict environmental protection rules in developing as well as developed countries regarding the use of paints with low volatile organic compounds is increasing the demand for diacetone alcohol.
Diacetone alcohol is also known to be used in the production of artificial leather, photographic film, and permanent markers.
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The global diacetone alcohol market is spread across Europe, Latin America, MEA, Europe, Asia Pacific, and North America. Presently, Asia Pacific is predicted to hold the major share in the market due to the thriving construction activities in countries such as India, Japan, and China. The market is fragmented in nature as there are few regional and large companies, thus witnessing an intense competition among each other. Some of the players are Tokyo Chemical Industry, Monument Chemical, KH Neochem, Arkema, and Solvay.