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The global market for acetone cyanohydrin is being aided by the growing utilisation of acetone cyanohydrin as an intermediate in industries like pharmaceuticals, plastics, and others. One of the significant applications of the product in the pharmaceutical industry includes its utilisation in the production of ethyl alpha-hydroxyisobutyrate, a pharmaceutical intermediate. The growing pharmaceutical sector, which is aided by the increased research and development activities and expanding distribution channel, is propelling the market growth. In the plastic industry, acetone cyanohydrin is used in the synthesis of several products such as contact lenses, plexiglass, artificial teeth, and acrylic paints, among others. The overall market is supported by the rapid technological advancements.
Some of the major players in the acetone cyanohydrin industry include INEOS Group and Tokyo Chemical Industry Co., Ltd. The stringent government regulations on plastic production are influencing major players to invest in plastic recycling facilities. In April 2021, INEOS Group announced that the company would collaborate with PLASTIC ENERGY to construct a new advanced plastic recycling plant, which will facilitate the conversion of waste plastic into the raw material for new plastic products. Further, the growing retail industry is leading to a rise in sales of the end-use products, which will significantly contribute to the industry growth. In February 2021, Amazon.com, Inc. (NASDAQ: AMZN) announced that the company had made an investment worth USD 15 billion. The company also launched 225 new tools and services in 2020 to help the small and medium-sized businesses and third-party sellers thrive globally. Such developments are expected to enhance the demand for acetone cyanohydrins in major end-use sectors, thus, accelerating the industry growth.
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The major players in the global acetone cyanohydrin market are Tokyo Chemical Industry Co., Ltd., Otto Chemie Pvt Ltd, and INEOS Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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