Global Acetone Market
The global acetone market refers to the industry involved in the production, distribution, and application of acetone, a colorless, volatile liquid solvent and chemical intermediate. Acetone is one of the simplest and most widely used ketone compounds, with a wide range of applications across various industries. Here's an overview of the global acetone market:
Market Size and Growth:
Acetone Market Valued at approximately USD 6.6 billion in 2022, the market is projected to reach USD 10 billion by 2030, expanding at a CAGR of 5.6% during the forecast period.
The global acetone market has witnessed steady growth over the years, driven by its versatility and widespread use in various industrial sectors.
Market size is influenced by factors such as industrial activity levels, demand from end-use industries, regulatory standards, and macroeconomic factors.
Key Applications:
Solvent: Acetone is primarily used as a solvent in industries such as paints and coatings, adhesives, coatings, cleaning agents, and pharmaceuticals. It is an effective solvent for a wide range of organic materials, making it valuable in various formulations.
Chemical Intermediate: Acetone serves as a key intermediate in the production of numerous chemicals, including methyl methacrylate (MMA), bisphenol-A (BPA), and methyl isobutyl ketone (MIBK), which are used in the manufacture of plastics, resins, coatings, and other materials.
Polymers and Resins: Acetone is used in the production of polycarbonate resins, acrylic polymers, and polyester resins, which find applications in automotive, construction, electronics, and consumer goods industries.
Personal Care: Acetone is used in personal care products such as nail polish removers, nail polish, and cosmetics as a solvent and blending agent.
Pharmaceuticals: Acetone is used in pharmaceutical formulations and drug manufacturing processes, including extraction, synthesis, and purification of active pharmaceutical ingredients (APIs).
Market Drivers:
Growth in End-Use Industries: Demand for acetone is driven by growth in end-use industries such as automotive, construction, electronics, pharmaceuticals, and consumer goods, where acetone is used as a solvent, intermediate, or raw material.
Technological Advancements: Ongoing research and development efforts in acetone production processes, catalyst technologies, and purification methods contribute to market growth and cost competitiveness.
Regulatory Standards: Regulatory standards and environmental regulations influence acetone production, handling, and usage, driving demand for environmentally friendly processes and formulations.
Consumer Trends: Consumer preferences for sustainable products, eco-friendly packaging, and safer formulations influence market demand for acetone and acetone-based products in various applications.
Regional Analysis:
The global acetone market exhibits regional variations in demand, production capacity, consumption patterns, and market dynamics.
Key regions contributing to market demand include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, each with its own set of drivers, challenges, and opportunities.
Asia-Pacific is a major consumer and producer of acetone, driven by industrialization, urbanization, and manufacturing activities in countries such as China, India, Japan, and South Korea.
North America and Europe also represent significant markets for acetone, with applications in automotive, construction, pharmaceuticals, and consumer goods industries.
Latin America and the Middle East and Africa show potential for market growth, driven by economic development, infrastructure projects, and increasing demand for chemicals and materials.
Challenges:
Challenges facing the acetone market include volatile raw material prices, supply chain disruptions, regulatory compliance, environmental concerns, and competition from alternative solvents and chemicals.
Market players navigate these challenges through strategic partnerships, investments in research and development, innovation in product formulations, and adoption of sustainable practices.
Overall, the global acetone market presents significant opportunities for manufacturers, suppliers, and end-users across diverse industries, driven by its versatility, applications, and contribution to industrial processes and product formulations.
| Report AttributesA2:B10+A2:B10 | Details |
| Study Period | 2023 to 2033 |
| Base Year | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | • INEOS Group Holdings S.A. • The Dow Chemical Company • Mitsui Chemicals Inc. • Royal Dutch Shell plc • Formosa Chemicals & Fibre Corporation • Honeywell International Inc. • China National Petroleum Corporation • Sinopec Group • CEPSA • Reliance Industries Limited • Sunoco LP • LyondellBasell Industries N.V. • LG Chem Ltd. • Saudi Basic Industries Corporation • JXTG Holdings Inc. • Kumho P&B Chemicals Inc. • Solvay S.A. • LUKOIL • Mitsui & Co. Ltd. • PTT Global Chemical Public Company Limited • Others |
| SEGMENTS COVERED | By Type, By Application, and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Acetone Market Segments
By Grade
· Specialty Grade
· Technical Grade
By Application
· Solvents
· Bisphenol-A
· Methyl Methacrylate
· Others
By End User
· Automotive
· Electronics
· Cosmetics & Personal Care
· Pharmaceuticals
· Others
Acetone Market Regional Analysis
Regional analysis of the acetone market reveals variations in demand, production capacity, consumption patterns, and market dynamics across different parts of the world. Here's an overview:
North America:
North America is a significant market for acetone, with the United States being a major producer and consumer of the chemical.
The region's acetone market is driven by industries such as chemicals, pharmaceuticals, coatings, adhesives, and personal care products.
The U.S. Gulf Coast region is a key hub for acetone production, leveraging feedstocks from the petrochemical industry.
Regulatory standards and environmental regulations influence acetone production and usage in North America, with a focus on safety, emissions, and product quality.
Europe:
Europe is another important market for acetone, with countries like Germany, France, the Netherlands, and the UK being major consumers and producers.
The European acetone market is driven by industries such as chemicals, plastics, coatings, pharmaceuticals, and personal care products.
The region's regulatory framework, including REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals), influences acetone production, handling, and usage.
Consumer preferences for eco-friendly products and sustainable formulations drive market demand for acetone and acetone-based products in Europe.
Asia-Pacific:
Asia-Pacific is a rapidly growing market for acetone, driven by industrialization, urbanization, and population growth.
China is a major producer and consumer of acetone in the region, with increasing demand from industries such as chemicals, plastics, textiles, and pharmaceuticals.
Other key markets in Asia-Pacific include India, Japan, South Korea, and Southeast Asian countries, where acetone finds applications in various end-use sectors.
Technological advancements, infrastructure development, and regulatory reforms influence acetone market dynamics in Asia-Pacific, with opportunities for growth and investment.
Latin America:
Latin America represents a growing market for acetone, driven by economic development, infrastructure projects, and increasing demand for chemicals and materials.
Countries like Brazil, Mexico, Argentina, and Chile are key consumers of acetone, with applications in industries such as chemicals, coatings, adhesives, and personal care products.
Regulatory frameworks and consumer preferences vary across Latin American countries, with opportunities for sustainable formulations and eco-friendly products.
Middle East and Africa:
The Middle East and Africa region show potential for acetone market growth, driven by industrialization, construction activities, and growing demand for chemicals.
Countries such as Saudi Arabia, UAE, South Africa, and Nigeria are key markets for acetone, with applications in industries such as petrochemicals, construction, and pharmaceuticals.
Regulatory standards, economic policies, and investment climate influence acetone market dynamics in the Middle East and Africa, with opportunities for local production and distribution.
Overall, the acetone market's regional analysis highlights diverse opportunities and challenges, with variations in industrial landscapes, regulatory environments, and consumer preferences shaping the industry landscape across different parts of the world.
Acetone Market Key Players
· INEOS Group Holdings S.A.
· The Dow Chemical Company
· Mitsui Chemicals Inc.
· Royal Dutch Shell plc
· Formosa Chemicals & Fibre Corporation
· Honeywell International Inc.
· China National Petroleum Corporation
· Sinopec Group
· CEPSA
· Reliance Industries Limited
· Sunoco LP
· LyondellBasell Industries N.V.
· LG Chem Ltd.
· Saudi Basic Industries Corporation
· JXTG Holdings Inc.
· Kumho P&B Chemicals Inc.
· Solvay S.A.
· LUKOIL
· Mitsui & Co. Ltd.
· PTT Global Chemical Public Company Limited
Others
Table of Contents
Chapter 1. Preface
1.1 Report Description and Scope
1.2 Research scope
1.3 Research methodology
1.3.1 Market Research Type
1.3.2 Market Research Methodology
Chapter 2. Executive Summary
2.1 Global Acetone Market, (2024 – 2033) (USD Billion)
2.2 Global Acetone Market: snapshot
Chapter 3. Global Acetone Market – Industry Analysis
3.1 Acetone Market: Market Dynamics
3.2 Market Drivers
3.2.1 Increasing demand for solvents from pharmaceuticals industries
3.2.2 Growing demand for methyl methacrylate (MMA) and bisphenol-A (BPA) from end-use industries
3.3 Market Restraints
3.4 Market Opportunities
3.5 Market Challenges
3.6 Porter’s Five Forces Analysis
3.7 Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Grade
3.7.2 Market Attractiveness Analysis By Application
3.7.3 Market Attractiveness Analysis By End User
Chapter 4. Global Acetone Market- Competitive Landscape
4.1 Company market share analysis
4.1.1 Global Acetone Market: Company Market Share, 2023
4.2 Strategic development
4.2.1 Acquisitions & mergers
4.2.2 New Product launches
4.2.3 Agreements, partnerships, cullaborations, and joint ventures
4.2.4 Research and development and Regional expansion
4.3 Price trend analysis
Chapter 5. Global Acetone Market – Grade Analysis
5.1 Global Acetone Market Overview: By Grade
5.1.1 Global Acetone Market Share, By Grade, 2023 and 2033
5.2 Specialty Grade
5.2.1 Global Acetone Market by Specialty Grade, 2024 – 2033 (USD Billion)
5.3 Technical Grade
5.3.1 Global Acetone Market by Technical Grade, 2024 – 2033 (USD Billion)
Chapter 6. Global Acetone Market – Application Analysis
6.1 Global Acetone Market Overview: By Application
6.1.1 Global Acetone Market Share, By Application, 2023 and 2033
6.2 Solvents
6.2.1 Global Acetone Market by Solvents, 2024 – 2033 (USD Billion)
6.3 Bisphenol-A
6.3.1 Global Acetone Market by Bisphenol-A, 2024 – 2033 (USD Billion)
6.4 Methyl Methacrylate
6.4.1 Global Acetone Market by Methyl Methacrylate, 2024 – 2033 (USD Billion)
6.5 Others
6.5.1 Global Acetone Market by Others, 2024 – 2033 (USD Billion)
Chapter 7. Global Acetone Market – End User Analysis
7.1 Global Acetone Market Overview: By End User
7.1.1 Global Acetone Market Share, By End User, 2023 and 2033
7.2 Automotive
7.2.1 Global Acetone Market by Automotive, 2024 – 2033 (USD Billion)
7.3 Electronics
7.3.1 Global Acetone Market by Electronics, 2024 – 2033 (USD Billion)
7.4 Cosmetics & Personal Care
7.4.1 Global Acetone Market by Cosmetics & Personal Care, 2024 – 2033 (USD Billion)
7.5 Pharmaceuticals
7.5.1 Global Acetone Market by Pharmaceuticals, 2024 – 2033 (USD Billion)
7.6 Others
7.6.1 Global Acetone Market by Others, 2024 – 2033 (USD Billion)
Chapter 8. Acetone’s Market – Regional Analysis
8.1 Global Acetone’s Market Regional Overview
8.2 Global Acetone’s Market Share, by Region, 2023 & 2033 (USD Billion)
8.3. North America
8.3.1 North America Acetone’s Market, 2024 – 2033 (USD Billion)
8.3.1.1 North America Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
8.4 North America Acetone’s Market, by Grade, 2024 – 2033
8.4.1 North America Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
8.5 North America Acetone’s Market, by Application, 2024 – 2033
8.5.1 North America Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
8.6 North America Acetone’s Market, by End User, 2024 – 2033
8.6.1 North America Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
8.7. Europe
8.7.1 Europe Acetone’s Market, 2024 – 2033 (USD Billion)
8.7.1.1 Europe Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
8.8 Europe Acetone’s Market, by Grade, 2024 – 2033
8.8.1 Europe Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
8.9 Europe Acetone’s Market, by Application, 2024 – 2033
8.9.1 Europe Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
8.10 Europe Acetone’s Market, by End User, 2024 – 2033
8.10.1 Europe Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
8.11. Asia Pacific
8.11.1 Asia Pacific Acetone’s Market, 2024 – 2033 (USD Billion)
8.11.1.1 Asia Pacific Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
8.12 Asia Pacific Acetone’s Market, by Grade, 2024 – 2033
8.12.1 Asia Pacific Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
8.13 Asia Pacific Acetone’s Market, by Application, 2024 – 2033
8.13.1 Asia Pacific Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
8.14 Asia Pacific Acetone’s Market, by End User, 2024 – 2033
8.14.1 Asia Pacific Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
8.15. Latin America
8.15.1 Latin America Acetone’s Market, 2024 – 2033 (USD Billion)
8.15.1.1 Latin America Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
8.16 Latin America Acetone’s Market, by Grade, 2024 – 2033
8.16.1 Latin America Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
8.17 Latin America Acetone’s Market, by Application, 2024 – 2033
8.17.1 Latin America Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
8.18 Latin America Acetone’s Market, by End User, 2024 – 2033
8.18.1 Latin America Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
8.19. The Middle-East and Africa
8.19.1 The Middle-East and Africa Acetone’s Market, 2024 – 2033 (USD Billion)
8.19.1.1 The Middle-East and Africa Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
8.20 The Middle-East and Africa Acetone’s Market, by Grade, 2024 – 2033
8.20.1 The Middle-East and Africa Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
8.21 The Middle-East and Africa Acetone’s Market, by Application, 2024 – 2033
8.21.1 The Middle-East and Africa Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
8.22 The Middle-East and Africa Acetone’s Market, by End User, 2024 – 2033
8.22.1 The Middle-East and Africa Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
Chapter 9. Company Profiles
9.1 INEOS Group Holdings S.A.
9.1.1 Overview
9.1.2 Financials
9.1.3 Product Portfolio
9.1.4 Business Strategy
9.1.5 Recent Developments
9.2 The Dow Chemical Company
9.2.1 Overview
9.2.2 Financials
9.2.3 Product Portfolio
9.2.4 Business Strategy
9.2.5 Recent Developments
9.3 Mitsui Chemicals Inc.
9.3.1 Overview
9.3.2 Financials
9.3.3 Product Portfolio
9.3.4 Business Strategy
9.3.5 Recent Developments
9.4 Royal Dutch Shell plc
9.4.1 Overview
9.4.2 Financials
9.4.3 Product Portfolio
9.4.4 Business Strategy
9.4.5 Recent Developments
9.5 Formosa Chemicals & Fibre Corporation
9.5.1 Overview
9.5.2 Financials
9.5.3 Product Portfolio
9.5.4 Business Strategy
9.5.5 Recent Developments
9.6 Honeywell International Inc.
9.6.1 Overview
9.6.2 Financials
9.6.3 Product Portfolio
9.6.4 Business Strategy
9.6.5 Recent Developments
9.7 China National Petroleum Corporation
9.7.1 Overview
9.7.2 Financials
9.7.3 Product Portfolio
9.7.4 Business Strategy
9.7.5 Recent Developments
9.8 Sinopec Group
9.8.1 Overview
9.8.2 Financials
9.8.3 Product Portfolio
9.8.4 Business Strategy
9.8.5 Recent Developments
9.9 CEPSA
9.9.1 Overview
9.9.2 Financials
9.9.3 Product Portfolio
9.9.4 Business Strategy
9.9.5 Recent Developments
9.10 Reliance Industries Limited
9.10.1 Overview
9.10.2 Financials
9.10.3 Product Portfolio
9.10.4 Business Strategy
9.10.5 Recent Developments
9.11 Sunoco LP
9.11.1 Overview
9.11.2 Financials
9.11.3 Product Portfolio
9.11.4 Business Strategy
9.11.5 Recent Developments
9.12 LyondellBasell Industries N.V.
9.12.1 Overview
9.12.2 Financials
9.12.3 Product Portfolio
9.12.4 Business Strategy
9.12.5 Recent Developments
9.13 LG Chem Ltd.
9.13.1 Overview
9.13.2 Financials
9.13.3 Product Portfolio
9.13.4 Business Strategy
9.13.5 Recent Developments
9.14 Saudi Basic Industries Corporation
9.14.1 Overview
9.14.2 Financials
9.14.3 Product Portfolio
9.14.4 Business Strategy
9.14.5 Recent Developments
9.15 JXTG Holdings Inc.
9.15.1 Overview
9.15.2 Financials
9.15.3 Product Portfolio
9.15.4 Business Strategy
9.15.5 Recent Developments
9.16 Kumho P&B Chemicals Inc.
9.16.1 Overview
9.16.2 Financials
9.16.3 Product Portfolio
9.16.4 Business Strategy
9.16.5 Recent Developments
9.17 Solvay S.A.
9.17.1 Overview
9.17.2 Financials
9.17.3 Product Portfolio
9.17.4 Business Strategy
9.17.5 Recent Developments
9.18 LUKOIL
9.18.1 Overview
9.18.2 Financials
9.18.3 Product Portfolio
9.18.4 Business Strategy
9.18.5 Recent Developments
9.19 Mitsui & Co. Ltd.
9.19.1 Overview
9.19.2 Financials
9.19.3 Product Portfolio
9.19.4 Business Strategy
9.19.5 Recent Developments
9.20 PTT Global Chemical Public Company Limited
9.20.1 Overview
9.20.2 Financials
9.20.3 Product Portfolio
9.20.4 Business Strategy
9.20.5 Recent Developments
9.21 Others.
9.21.1 Overview
9.21.2 Financials
9.21.3 Product Portfolio
9.21.4 Business Strategy
9.21.5 Recent Developments
Acetone Market Segments
By Grade
· Specialty Grade
· Technical Grade
By Application
· Solvents
· Bisphenol-A
· Methyl Methacrylate
· Others
By End User
· Automotive
· Electronics
· Cosmetics & Personal Care
· Pharmaceuticals
Others
Acetone Market Key Players
· INEOS Group Holdings S.A.
· The Dow Chemical Company
· Mitsui Chemicals Inc.
· Royal Dutch Shell plc
· Formosa Chemicals & Fibre Corporation
· Honeywell International Inc.
· China National Petroleum Corporation
· Sinopec Group
· CEPSA
· Reliance Industries Limited
· Sunoco LP
· LyondellBasell Industries N.V.
· LG Chem Ltd.
· Saudi Basic Industries Corporation
· JXTG Holdings Inc.
· Kumho P&B Chemicals Inc.
· Solvay S.A.
· LUKOIL
· Mitsui & Co. Ltd.
· PTT Global Chemical Public Company Limited
Others
