According to latest research by Future Market Insights, Acetoacetanilide market is projected to grow with a CAGR of more than 5% during the forecast period 2021-2031. Demand is surging at a significant rate owing to growth in number of end use industries and expanding demand for plastic products. Moreover, growing demand for agricultural products due to rise in population across the globe is providing required momentum to the market.
Acetoacetanilide find its application in formulation of pigments which in turn are used as important ingredient for production of paints, ink, and coatings etc. Paint and coatings industry is witnessing significant growth due to various macro economic factors like growing GDP and increased residential and commercial construction spending. This growth in paints and coating industry is fueling Acetoacetanilide sales across the globe during the forecast period.
The environmental regulations imposed on the use of toxic ingredients in the production of paints and coatings has led to a surge in development and use of water based paints and coating products. Such aspects open new opportunity areas for the sales of pigment products, thus helping market growth.
Acetoacetanilide also finds its application in formulation of agrochemicals. Demand for agrichemicals is witnessing remarkable growth owing to growing demand of better crop yield which in turn promoting the sales during the forecast period.
Due to increase in population across the globe the demand for agro products in increasing remarkably and expected to carry the same trend for the forecast period. To cater this vast demand need for better crop yield and per hectare production is increasing, which in turn elevating the sales of agrochemicals which increases the sales of Acetoacetanilide.
In addition, product also finds its applications in the printing inks industry. Also, Paints and Coating Industry is experiencing significant growth due to various factors like rise in construction industry and increasing sustainable materials. These factors are anticipated to promote the demand during the forecast period.
U.S. is one of key market for the product owing to the strong presence of agrochemical manufacturers and growth of paints and coatings industry. Demand from agrichemical sector is rising due to involvement of manufacturers in R & D activities. Demand for sustainable agrochemicals having Acetoacetanilide as an ingredient is rising across the US and Canada.
Additionally, Paints and Coatings industry is also witness strong growth in the countries due to increase in construction activities and rising demand for products from automotive sector in the countries. However, US construction industry is facing a challenging year due ongoing pandemic but the industry is like to recover in the near future due to rise in construction activities across the country which in turn benefits the paints and coatings industry which in turn promoting the sales during the forecast period.
East Asia is one of the most lucrative market across the globe owing to the strong presence of manufacturers of Acetoacetanilide as well as end use industries. East Asian countries of China, Japan and South Korea are prominent markets for the consumption owing to rising demand from several end use industries such as pharmaceuticals, agriculture, paint & coatings, plastic, and other industries.
In addition, the region has strong demand from the paints and coating industry in countries such as Indi and ASEAN region as well, owing to vast residential and commercial construction sectors. Rising demand for the products from manufacturing industries is propelling paints and coating industry which in turn promoting the sales during the forecast period.
Some of key manufacturers and suppliers across the market are
Manufacturers are engaged in research and development of products to cater the demand and remain ahead of their key competitors. Manufacturers are involved in long term partnerships with end users to mitigate the fluctuations in demand.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Acetoacetanilide Market
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