Methyl Acetoacetate Market to Perceive Substantial Growth During 2020
Methyl acetoacetate is mainly used as an intermediate in the manufacture of polymers and other materials. It is used as a chemical intermediate across a host of end-use industries such as agro chemicals, pharmaceuticals, and others. In pharmaceuticals, methyl acetoacetate acts as an intermediate in formulations such as dipyradamole, amoxyciline, and antipyrine among others. Methyl acetoacetate is utilized as an intermediate in primiphos, mevinphos, and hymexazole formulations in the agrochemicals sector.
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Methyl acetoacetate is used in the synthesis of cyclic compounds and alpha-substituted aceto-acetic esters. Methyl acetoacetate is used as a copromoter in resins and several other compounds.
The report provides a pin-point analysis of the growth curve of the global market for methyl acetoacetate over the six-year forecast period from 2016 to 2024. It evaluates the changing competitive dynamics and provides valuable insights to market entities to stay ahead in the competition.
The market study is a useful tool to understand current market trends, industry growth drivers, and challenges. It analyzes recent product developments and technological advancements that are expected to have a bearing on this market’s growth over the forecast period. Included in this report is a review of macro and micro factors that are important for existing market players as well as for new entrants.
Global Methyl Acetoacetate Market: Trends and Opportunities
The methyl acetoacetate market is mainly driven by end-use industries such as agrochemicals, pharmaceuticals, and solvents among others. It is used as an initiating material in the manufacture of cyclic compounds such as pyrazole and coumarine. It is used as a solvent for fragrances in the perfume and cosmetic industry. Moreover, methyl acetoacetate is used in the manufacture of azo dyes, lacquers, masking isocynates in enamels, plastics, and lacquers among others.
However, environmental concerns pertaining to the use of methyl acetoacetate and .aw material issues are some of the factors that are expected to result in sluggish growth of the methyl acetoacetate market over the forecast period. Methyl acetoacetate if ingested or inhaled can cause skin and eye irritation.
Global Methyl Acetoacetate Market: Regional Outlook
Asia Pacific stood as the leading and fastest growing regional market for methyl acetoacetate in 2013. The growth of this regional market is mainly due to high demand for methyl acetoacetate from pharmaceuticals and agrochemicals industries. China displays the leading demand for methyl acetoacetate in this region. Other countries such as India, South Korea, and Japan are also significant domestic markets for methyl acetoacetate due to the increasing consumption from perfumery products and agrochemicals industry.
North America is the second-leading regional market for methyl acetoacetate. Increasing demand from agrochemicals predominantly from the U.S. is driving the methyl acetoacetate market in this region.
Europe stood as the third-leading market for methyl acetoacetate in 2013. This is mainly due to the rising demand for methyl acetoacetate from dyestuff, perfumery products, pigments, and pharmaceuticals. Western Europe is one of the leading consumers of methyl acetoacetate in Europe.
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Rest of the World region is expected to display positive outlook for the methyl acetoacetate market during the forecast period. Brazil, South Africa, and Argentina are expected to be key domestic markets in this region.
Global Methyl Acetoacetate Market: Competitive Landscape
Some of the leading companies in the global methyl acetoacetate market include Lonza Group, Eastman Chemicals, TCI Developmnet Co. Ltd., and Laxmi Organics among others.