Acetophenone Market Demand, Growth, Size, Trends, Volume and Market Forecast 2023-2030

Acetophenone Market is segmented By Type (The Oxidation of Ethylbenzene, The Oxidation of Cumene), By End-User (Perfumes and Fragrances, Resins, Pharmaceuticals, Flavoring agents), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Acetophenone Market Overview

The Global Acetophenone Market is estimated to reach at a CAGR of 4 % during the forecast period (2023-2030). Acetophenone is an organic compound represented by the chemical formula (C6H5COCH3). It is one of the simplest compounds in the form of a slightly oily liquid. These liquid forms crystals at low temperature. Acetophenone has an odor similar to sweet orange or jasmine with a bitter taste. It is naturally present in many plants and foods such as apple, apricot, banana, cauliflower, cheese, and cocoa.

Acetophenone Market Scope and Summary

Acetophenone Market Dynamics and Trends

The acetophenone market growth is driven owing to the rise in consumption of acetophenone in perfume & fragrance production. In addition, acetophenone is also used in various pharmaceutical applications as a direct ingredient in manufacturing processes, growing demand for acetophenone in the food & beverages industry.

The rise in consumption of acetophenone in perfume & fragrance production, is expected to drive the global acetophenone market growth

Acetophenone is soluble in alcohol, glycerol, fatty oils, ether, and chloroform. Furthermore, as per the Hazardous Substances Data Bank (HSDB), acetophenone is highly soluble in water, biodegradable. These properties increase demand for acetophenone in perfumery items such as lotions, soaps, other body care products, and fragrances. Furthermore, due to increasing disposable income, the demand for personal care products is expected to increase during the forecast period. For instance, in 2016, the cosmetics and personal care industry contributed around US$ 32 billion to the European economy. Thus, the global acetophenone market is expected to grow during the forecast period.

Growing usage of acetophenone in various pharmaceutical applications as a direct ingredient, is expected to drive the global acetophenone market growth

The acetophenone market is set to witness notable gains from the pharmaceutical industry due to its increasing tablet applications. Furthermore, the rising demand for hypnotic and anticonvulsants in the pharmaceutical industry will fuel the industry's growth. In addition, increasing consumption in the synthesis of pyrrobutamine, trihexyphenidyl, dextropropoxyphene, pridinol, biperiden, cycrimine, procyclidine, mesuximide, benmoxin and acifran will enhance the product scope in pharmaceutical applications.

Harmful health issuses associated with acetophenone chemical is likely to hamper the market growth

Some of the significant challenges that will negatively affect the global acetophenone market growth are the harmful health hazards associated with this chemical compound, which include direct contact with acetophenone that might cause illness such as severe eye and skin irritation, effects on the central nervous system, and high-level exposure that might cause unconsciousness. Therefore, these challenges might restrict the growth of the global acetophenone market during the forecast period.

COVID-19 Impact Analysis on Acetophenone Market

Following the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries globally, and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the coronavirus (COVID-19) manifestation has resulted in more than 52.7 million infected individuals worldwide as of November 13, 2020.

COVID-19 has affected every market globally and has also impacted the global acetophenone market in the following ways; by directly affecting production and demand, creating disruptions in distribution channels, and its financial impact on firms and financial markets. Further, 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.

Furthermore, players operating in the global acetophenone market face significant challenges on various fronts due to the COVID-19 pandemic. The significant challenges include the supply of raw materials for manufacturing drug formulations due to irregularities in the transportation facility. Moreover, distributors of products are experiencing irregular demand for products from the retailers due to the increasing patient population suffering from COVID-19 and other life-threatening disorders.

Acetophenone Market Segmentation Analysis

The oxidation of ethylbenzene segment is expected to hold largest share in this market segment

The consumption of acetophenone (AP) is rapidly growing globally because of its applications in alcohol, aldehydes, resins, esters, fragrances, and pharmaceuticals.  The oxidation of ethylbenzene (EB) is one of the promising methods to synthesize AP in liquid and vapor phase’s reaction using heterogeneous catalysts, which plays a vital role in the selective production of AP.

The Perfume and fragrance segment is expected to hold the largest share in this market segment

Growing inclination towards luxury perfumes coupled with changing human psychology to enhance pleasantness will drive the industry growth in perfumes & fragrances. In addition, rapid urbanization, along with a growing consumer goods industry, will propel product demand. Furthermore, as per the Hazardous Substances Data Bank (HSDB), acetophenone is highly soluble in water, biodegradable. These properties increase demand for fragrance production, which widely include extraction from jasmine, almond, strawberry, cherry, and honey to resemble the respective aroma and it is also broadly used in creams, lotions, soaps, and soaps detergents to increase scents.

Global Acetophenone Market Geographical Analysis

Asia-Pacific region holds the largest market share of global acetophenone market

The Asia Pacific was the dominant region of the acetophenone market share. Increasing product consumption in organic synthesis and polymerization of olefins will propel revenue growth. Rising demand for high-end, luxury and lifestyle products, particularly in China and India, will drive the demand in this region. China catered for dominating demand for acetophenone, followed by India and Japan.

Acetophenone Market Companies and Competitive Landscape

The global acetophenone market is highly competitive with presence of global companies.  Some of the key players which are contributing to the growth of the market include Alfa Aesar, Rhodia, INEOS Phenol, A.B. Enterprises, SI Group, RUTGERS Group, Tanfac, Triveni Interchem, Zhongliang, CellMark USA LLC, Shenze Xinze Chemical, Xing Li Gong Mao, Jiangsu Yalong Chemical, Haiwang Fine Chemical, Yingyang, Liaoning Yingfa. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally.

Acetophenone Market Key Companies to Watch

SI Group

Overview: SI Group is a global leader in the innovative technology of performance additives, process solutions, active pharmaceutical ingredients, and chemical intermediates established in January 1890.  They focus and business strategy are aligned to these markets, offering differentiated solutions that feed into aerospace, health & wellness, tires, plastics, engines & fuels, and others.

Product: Acetophenone is a solvent for resins, plastics, cellulose ethers and esters, and an intermediate for the flavor & fragrance market.

Key Developments: In October 2018, SK Capital Partners, a U.S. based private investment firm, had announced completion of the acquisition of SI Group. SI Group is a leading manufacturer & developer of performance additives and intermediates including Acetophenone.

Why Purchase the Report?

• Visualize the composition of the acetophenone market segmentation by type, end-user and region highlighting the key commercial assets and players.
• Identify commercial opportunities in acetophenone market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of acetophenone market - level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global acetophenone market report would provide an access to an approx. 53 market data table, 42 figures and 200 pages. 

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