Acetone Cyanohydrin Market Analysis: Historical Growth, Current Trends and Future Projections with CAGR (4.6%), 2023

Global Industry Analysis

Acetone cyanohydrin is a colorless liquid, which is used in the production of methacrylate, methionine, and other chemicals. It is a highly reactive and toxic chemical that requires careful handling and storage. The acetone cyanohydrin market is primarily driven by its usage as a raw material for the production of methacrylate, which is widely used in the manufacturing of polymers, coatings, and adhesives.

Market Overview:

The global acetone cyanohydrin market size was valued at USD 240 million in 2015 and is expected to grow at a CAGR of 4.6% from 2015 to 2023. The market growth is attributed to the increasing demand for methacrylate and methionine, which are the major applications of acetone cyanohydrin. The demand for acetone cyanohydrin is also driven by the growth of end-use industries such as construction, automotive, and electronics.

Click on the link for sample report: https://www.persistencemarketresearch.com/samples/4381

Methylmethacrylates are mostly produced using acetone cyanohydrin as a raw material (MMA). Polymethyl methacrylate is created using methylmethacrylates. Acetone cyanohydrin is also used in the production of insecticides, flavorings, and pharmaceuticals, among other things.

Significant demand from the methylmethacrylate sector propelled the market for acetone cyanohydrin. Polymethylmethacrylate is created by further polymerization of methylmethacrylate (PMMA). PMMA is used in a number of end-use industries, including the waste management, water treatment, automotive, electronics & electrical, signs & displays, medical & healthcare, and building & construction sectors.

Electronics & electrical was one of the major industries for PMMA in the past decade. Another major outlet for acetone cyanohydrins was insecticides where it is used as a raw material.

Acetone cyanohydrin is used to manufacture ethyl alpha-hydroxyisobutyrate, a pharmaceutical intermediate. In addition, acetone cyanohydrins are also used in the metal separation process in the form of a complexing agent.

In spite of this variety of applications, acetone cyanohydrin is usually considered as potentially hazardous chemical as it releases hydrogen cyanide when in contact with water. These environmental and health regulations associated with acetone cyanohydrins  in North America and Europe can have major impact on the market and is likely to hinder the growth of the acetone cyanohydrin market during the forecast period.

Regional Outlook

In terms of demand, Asia Pacific was the leading consumer for acetone cyanohydrin market. China had the largest demand for acetone cyanohydrin market owing to huge demand from methyl methacrylate industry. Huge demand for PMMA has been the key factor for growth of MMA industry.

Moreover, other countries such as Japan, India, South Koreaand Taiwan are likely to exhibit more demand for acetone cyanohydrin in upcoming years owing to huge demand from MAA industry. Asia Pacificwas followed by Europe. Growing demand from agrochemical and MMA industry is driving the acetone cyanohydrin market in Europe. European countries such as Germany, the UK, Sweden and France were the major consumers of acetone cyanohydrin in this region.

However, stringent health and environmental regulations associated with acetone cyanohydrin in European Union can act as a major restraint for the market in next few years to come. In 2012, North America had the third-largest demand for acetone cyanohydrin.

The North America market for acetone cyanohydrin was led by The U.S. However, acetone cyanohydrin is considered as potentially hazardous material in U.S. Emergency Planning and Community Right-to-Know Act which can constraint the growth of the acetone cyanohydrin market in this region.

Rest of the World market is anticipated to stable demand for acetone cyanohydrin market in near future owing to demand for PMMA, subsequently driving growth for acetone cyanohydrin in next few years.

Click on the link for customized report: https://www.persistencemarketresearch.com/request-customization/4381

Key Players

The market for acetone cyanohydrin is concentrated and is dominated by major manufacturers. Some of the key manufacturers in theacetone cyanohydrinmarket are BASFSE, Evonik Industries AG, INEOS, Mitsubishi Chemicals Co. Ltd., The Dow Chemical Company, Tokyo Chemical Industry Co. and UNEP Chemicals among others.

Market Research Methodology - Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

Click on the link to pre-book the report: https://www.persistencemarketresearch.com/checkout/4381

Contact us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us:
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.

This release was published on openPR.