[FURL=https://www.industryarc.com/Report/15322/acetophenone-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Acetophenone Market[/FURL] size is forecast to reach $285.1 million by 2026, after growing at a CAGR of 6.5% over the forecast period from 2021-2026. Acetophenone is a simplest aromatic ketone. It is a colourless, viscous liquid and precursor ideal in resins and fragrances. Therefore, with rising demands for perfumes, soaps, lotions and other cosmetic goods, the acetophenone industry is witnessing increase in demand. It is an extension of ketone with improved sweet-smelling properties. Natural presence of acetophenone in substantial number of sources including apricot, apple, banana, beef, cauliflower and cheese has enhanced the product development. However, growing public interest towards cosmetic products will enhance the overall market growth for acetophenone market, as acetophenone are used as ingredient for cosmetics formulations.Covid-19 Impact
The COVID-19 pandemic has declined the acetophenone market. Weaker consumer demand for lifestyle and well-being products owing to the social restrictions and lockdown policies have a negative impact on the demand for cosmetic ingredients and certain categories of food additives. Hence, this has restrained acetophenone market growth. However, easing of restrictions and revival of economic activities in the consumer goods market space indicate the recovery of the acetophenone market.
Key Takeaways
APAC has dominated the acetophenone market owing to increasing demand from applications such as food, soaps and others.
The growing popularity for perfumes with other cosmetics is likely to aid in the market growth of acetophenone.
Whereas the growing usage of acetophenone in tablets are, therefore owing to this the market for acetophenone is expected to grow in the pharmaceutical sector.
Harmful Effects of Acetophenone on human skin will create hurdles for the acetophenone market.
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Acetophenone Market Drivers
Growing Demand in Cosmetic Industry
Increasing demand for perfumes with other cosmetics products in Europe and Asia is expected to drive the market for acetophenone.
Rising Demand in the Pharmaceutical Industry
The usage of acetophenone is expected to rise significantly in the pharmaceutical industry owing to its increasing applications in tablets.
Acetophenone market top 10 companies are Alfa Aesar, Rhodia, Ineos Group, CellMark USA LLC, Tanfac, A.B. Enterprises, Triveni Interchem., Haicheng Liqi Carbon, Haiwang Fine Chemical, Jiangsu Yalong Chemical.
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