The global acetone market size reached US$ 7.2 Billion in 2023. Looking forward, the market is projected to reach US$ 11.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.54% during 2023-2032. The widespread usage of acetone across various industrial verticals, the increasing demand for plastics, the widespread product usage in personal care industry, and the significant expansion in the automotive industry represent some of the key factors driving the market.
Acetone (C3H60), or dimethyl ketone, refers to a clear, colorless, water-soluble, flammable, volatile industrial liquid with a strong, pungent smell. It can be easily found in the exhaust generated by vehicles, plants, trees, and forest fires and also industrially formulated by bacterial fermentation. It can also be derived through alkylating benzene with propylene in the cumene cycle to produce cumene, which is later oxidized to compose phenol and acetone.
It is versatile, miscible, has a lower boiling point, and exhibits the potential to breakdown down fat, stains, and grease quickly. Based on these properties, acetone is chiefly utilized as a key intermediate in various products, including adhesives, textiles, adhesives, paints, coatings, petroleum, nail polish removers, polyvinyl chloride (PVC), and antiseptic solutions.
Additionally, the increasing need for petrochemical products and the implementation of favorable green initiatives have encouraged manufacturers to produce renewable dimethyl ketone, which is acting as another growth-inducing factor. In comparison to petroleum solvents, such green compounds are non-toxic, non-corrosive, and non-carcinogenic and reduce the levels of toxic and corrosive chemicals emitted in the environment. In line with this, the extensive acetone incorporation in multiple personal care and cosmetic products, such as nail polish removers and cleansing and fragrance items, is favoring the market growth. Acetone is further utilized in the textile for degreasing wool, degumming silk, and forming lacquers.
Apart from this, the rising acetone usage in automobile windows, headlamps, taillights, and headlamps is positively stimulating the market growth. Other factors, such as extensive research and development (R&D) activities, the increasing demand for beauty products, and the expanding electronics industry, are creating a positive outlook for the market further.
Acetone (C3H60), or dimethyl ketone, refers to a clear, colorless, water-soluble, flammable, volatile industrial liquid with a strong, pungent smell. It can be easily found in the exhaust generated by vehicles, plants, trees, and forest fires and also industrially formulated by bacterial fermentation. It can also be derived through alkylating benzene with propylene in the cumene cycle to produce cumene, which is later oxidized to compose phenol and acetone.
It is versatile, miscible, has a lower boiling point, and exhibits the potential to breakdown down fat, stains, and grease quickly. Based on these properties, acetone is chiefly utilized as a key intermediate in various products, including adhesives, textiles, adhesives, paints, coatings, petroleum, nail polish removers, polyvinyl chloride (PVC), and antiseptic solutions.
Acetone Market Trends
The widespread use of acetone across various industrial verticals to formulate polycarbonate, methyl methacrylate (MMA), and bisphenol A (BPA) as essential derivatives represents a prime factor driving the market growth. These products are utilized to compose food-grade bottles, cans, translucent sheets, and poly (methyl methacrylate) (PMMA), which is further employed in several constructional and infrastructural applications. Moreover, the sudden outbreak of the COVID-19 pandemic has prompted pharmaceutical companies to develop effective solvents, sanitizers, disinfectants, and dimethyl ketone-related materials, which, in turn, is facilitating the demand for acetone.Additionally, the increasing need for petrochemical products and the implementation of favorable green initiatives have encouraged manufacturers to produce renewable dimethyl ketone, which is acting as another growth-inducing factor. In comparison to petroleum solvents, such green compounds are non-toxic, non-corrosive, and non-carcinogenic and reduce the levels of toxic and corrosive chemicals emitted in the environment. In line with this, the extensive acetone incorporation in multiple personal care and cosmetic products, such as nail polish removers and cleansing and fragrance items, is favoring the market growth. Acetone is further utilized in the textile for degreasing wool, degumming silk, and forming lacquers.
Apart from this, the rising acetone usage in automobile windows, headlamps, taillights, and headlamps is positively stimulating the market growth. Other factors, such as extensive research and development (R&D) activities, the increasing demand for beauty products, and the expanding electronics industry, are creating a positive outlook for the market further.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global acetone market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on application, grade, distribution channel, and end use industry.Application Insights:
- Methyl Methacrylate (MMA)
- Bisphenol A (BPA)
- Solvents
- Others
Grade Insights:
- Specialty Grade
- Technical Grade
Distribution Channel Insights:
- Manufacturer to Distributor
- Manufacturer to End-User
End Use Industry Insights:
- Cosmetics and Personal Care
- Electronics
- Automotive
- Pharmaceutical
- Paints, Coatings and Adhesives
- Textile Industry
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global acetone market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Altivia, Arkema S.A., Borealis AG (OMV Aktiengesellschaft), Compañía Española de Petróleos S.A.U. (Cepsa), Honeywell International Inc., INEOS Group Limited, Kumho P&B Chemicals Inc. (Kumho Petrochemical Co. Ltd.), Mitsui Chemicals Inc., PTT Global Chemical Public Company Limited, Sasol Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shell plc, Solvay S.A, Thermo Fisher Scientific Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
- How has the global acetone market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global acetone market?
- What are the key regional markets?
- Which countries represent the most attractive acetone markets?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the grade?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the end use industry?
- What is the competitive structure of the global acetone market?
- Who are the key players/companies in the global acetone market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Acetone Market
6 Market Breakup by Application
7 Market Breakup by Grade
8 Market Breakup by Distribution Channel
9 Market Breakup by End Use Industry
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Altivia
- Arkema S.A.
- Borealis AG (OMV Aktiengesellschaft)
- Compañía Española de Petróleos S.A.U. (Cepsa)
- Honeywell International Inc.
- INEOS Group Limited
- Kumho P&B Chemicals Inc. (Kumho Petrochemical Co. Ltd.)
- Mitsui Chemicals Inc.
- PTT Global Chemical Public Company Limited
- Sasol Limited
- Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
- Shell plc
- Solvay S.A
- Thermo Fisher Scientific Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.2 Billion |
| Forecasted Market Value ( USD | $ 11.7 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
