Tokyo Chemical Industry Co., Ltd., Otto Chemie Pvt Ltd, and INEOS Group, among others, are the major players in the global acetone cyanohydrin market.
The global acetone cyanohydrin market is being aided by the growth of the global methyl methacrylate market, which is expected to grow at a CAGR of 9% between 2022 and 2027. As per the analysis by Expert Market Research, the market is being fuelled by the growing demand for plastic products.
Acetone cyanohydrin acts as an intermediate in the preparation of methyl methacrylate (MMA), which is then converted to thermoplastics, in the form of polymethyl methacrylate (PMMA). With the growing demand for plastic products owing to their cost effectiveness and versatility, the demand for downstream products of acetone cyanohydrin from various end-user industries like electronics and electrical, healthcare, automotive, and construction, among others, is significantly growing.
Acetone cyanohydrin finds application in the production of ethyl alpha-hydroxybutyrate, a pharmaceutical intermediate. Hence, the growing pharmaceutical sector and the increasing research and development activities in the sector are propelling the market growth of acetone cyanohydrin. Moreover, the growing use of acetone cyanohydrin in insecticide manufacturing is significantly fuelling the market growth.
The rising demand for acetone cyanohydrin in the manufacturing of fragrances and perfumes is likely to aid the market development. With the growing production of synthetic resins, polyacrylic plastics, and acrylic esters, the utilisation of acetone cyanohydrin is expected to considerably increase. Furthermore, the rising demand for esters in the manufacturing of plexiglass is anticipated to surge the demand for acetone cyanohydrin in ester production.
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Tokyo Chemical Industry Co. Ltd. is a leading worldwide manufacturer and supplier of speciality organic chemicals. It offers organic laboratory chemicals as well as pharmaceutical, cosmetic, and functional materials. With research laboratories and offices across Asia, Europe, and North America, the company provides more than 39,000 quality reagents. Its products are utilised in the materials science, life science, chemistry, custom and bulk, and analytical chemicals sectors.
Otto Chemie Pvt. Ltd. is a chemical distribution and marketing company that aims to provide quality pharmaceutical raw materials as well as fine and bulk chemicals. The company offers its raw materials in various applications, including construction chemicals, agrochemicals, and pharmaceutical chemicals, among other industrial chemicals. More than 10,000 of its fine chemicals are exported to over 15 countries and the company has served above 550 clients.
|Headquarters:||London, United Kingdom|
INEOS Group is a global manufacturer of chemicals. The group comprises 36 business units with 194 sites in 29 countries across the globe. Its products and services are used in various sectors such as electronics, pharmaceuticals, agriculture, and automotive, among others. Some of its leading consumer brands include INEOS Hygienics, INEOS Grenadier, and Belstaff. It has a consolidated workforce of more than 26,000 employees around the world as of 2021, and generated revenue of USD 61 billion.
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