Acetylacetone falls in the category of organic compound that generally exists in two tautomeric forms, which undergoes interconvert procedure and is used as a single compound in numerous applications. Even though the compound is commercially named as the diketone form, and named as pentane-2, 4-dione, the enol form generally forms a considerable component of the compound and is essentially the preferred form in many solvents. It has an appearance of colorless liquid that is a predecessor to acetylacetonate, a bidentate ligand. Acetylacetone is also used as a building block for the formation of heterocyclic compounds. On an industrial scale the acetlycetone is formulated by the thermal rearrangement of isopropenyl acetate compound. It is also used to prepare condensation of ethyl acetate and acetone in the presence of basic catalyst, which is further undergoes through acidification. Actylacetone finds its adoption in many applications such as in synthesis of metal acetylacetonates, preparation of vitamins, intermediate for pesticides (fungicides, sulfonyl urea – herbicides), stabilizer for Polyester and PVC, in gasloline and lubricants as a metal deactivator. Furthermore acetyl acetone is also used in the preparation of coatings for anticorrosion agents. Particularly, in the agriculture sector the use of acetylacetone is high due to high yield requisite and effective crop performance achieved through use of pesticides which enables the acetylacetone as one of the prominent business opportunities globally. It further enables the increase in manufacturers and suppliers in the manufacturing and distribution of acetylacetone.
Acetylacetone Market: Drivers and Restraints
In last few years, there has been inclination towards increase in the production & consumption of acetylacetone for many applications and end-user industry, where related growth is likely to be trail in the coming 5–10 years. The adoption of innovative technologies used in production coupled with escalating demand in the automotive, agriculture and chemical industries is predictable to influence market expansion in a progressive direction. Increase in pharmaceutical-based drug consumption, industrial expansion and growing disposable incomes have directed to a surge in restoration and makeover activities and novel construction plans which allows the increase in acetylacetone consumption worldwide. Moreover, the noteworthy adoption of agrochemicals in developing countries have also fueled the demand for acetylacetone. Advanced approaches such as adoption of novel technologies in order to manufacture a bio-based product in a cost-effective manner are widely adopted by the manufacturers.
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This will deliver development opportunities in the market for long term. Also, there has been concentrated R&D doings accomplished by the manufactures, which further provide a roadmap for the usage of acetylacetone-based product in novel applications. Also the emerging business model such as collaboration with distributors in order to enhance value chain also fuels the market growth however, the processing of acetylacetone involves the evaporation of VOC compounds which is harmful for the human respiratory system and may further hinder the overall growth of the market.
Acetylacetone Market: Segmentation
By Form, the acetylacetone market can be segmented as:
By Application, the acetylacetone market can be segmented as:
- Pharmaceutical (Including Vitamins)
- Intermediate chemicals
- Dyes & Pigments
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Acetylacetone Market: Regional Outlook
The global acetylacetone market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). As of 2016, the growth in developed regions such as Western Europe, North America and Japan will be focused by the enlargement of application industries such as agriculture and pharmaceutical. APEJ will also register rapid growth due to growing demand and consumption for insecticides, herbicides bio-based chemicals, and pharmaceutical products. In addition, increasing population and disposable incomes are the prominent factors for the high growth of the end-use industries. MEA and Latin America are also projected to expand with a significant CAGR over the forecast period.
Examples of some of the market participants in the global acetylacetone market identified across the value chain include:
- Chiping Huahao Chemical
- BASF SE
- Yuanji Chemical
- Anhui Wotu Chemical