The global acetone market size is expected to reach USD 10.23 billion by 2030, expanding at a CAGR of 7.6% from 2023 to 2030. The growth is majorly driven by the rising consumption of the product as a cleaning agent and as a solvent in the production of plastics, textiles, cosmetics, and other personal care products.
Acetone, which also goes by the names dimethyl ketone and propanone, is a highly flammable, colorless liquid with the chemical formula (CH3)2CO. It is the smallest and most basic ketone and is frequently used in homes, businesses, and laboratories for cleaning. It is frequently used as a byproduct for the production of phenol. The Wacker process, dry distillation, and the cumene process are a few popular production processes.
Acetone, for active components, is an excellent solvent and serves as a carrier agent in fungicides and insecticides, used in agriculture. Additionally, it is used in personal care products owing to the rising awareness regarding self-care and grooming across the globe. In addition, the product as a cleaning agent or solvent is used to dissolve two-part epoxies, super glue, and polyester resin before they are set in the manufacturing process. It also aids in gel coat and polyester resin cleaning. Casting resin can also be effectively removed from the skin with acetone.
China, the U.S., South Korea, and the western European region are the main manufacturing hubs for the product. Due to the rapidly growing pharmaceutical and electronics industries, the Asia Pacific region exhibits an enormous growth in demand for the product. It is further predicted to contribute to the largest consumption share during the forecast period. In addition, India is anticipated to increase local production during the upcoming years due to the anti-dumping charges it has placed on imports of acetone from South Korea, Saudi Arabia, and China.
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Acetone, which also goes by the names dimethyl ketone and propanone, is a highly flammable, colorless liquid with the chemical formula (CH3)2CO. It is the smallest and most basic ketone and is frequently used in homes, businesses, and laboratories for cleaning. It is frequently used as a byproduct for the production of phenol. The Wacker process, dry distillation, and the cumene process are a few popular production processes.
Acetone, for active components, is an excellent solvent and serves as a carrier agent in fungicides and insecticides, used in agriculture. Additionally, it is used in personal care products owing to the rising awareness regarding self-care and grooming across the globe. In addition, the product as a cleaning agent or solvent is used to dissolve two-part epoxies, super glue, and polyester resin before they are set in the manufacturing process. It also aids in gel coat and polyester resin cleaning. Casting resin can also be effectively removed from the skin with acetone.
China, the U.S., South Korea, and the western European region are the main manufacturing hubs for the product. Due to the rapidly growing pharmaceutical and electronics industries, the Asia Pacific region exhibits an enormous growth in demand for the product. It is further predicted to contribute to the largest consumption share during the forecast period. In addition, India is anticipated to increase local production during the upcoming years due to the anti-dumping charges it has placed on imports of acetone from South Korea, Saudi Arabia, and China.
Acetone Market Report Highlights
- Solvents application is expected to witness the highest CAGR of 8.0% till 2030 owing to the increasing utilization of acetone as a solvent in pharmaceutical, paints & coatings, and cosmetics industries
- The specialty grade segment witnessed the fastest growth rate of 8.7% in 2022, owing to its properties such as low water and benzene content. In addition, specialty-grade acetone products are extensively used in the production of Over-The-Counter (OTC) medicines
- Asia Pacific market witnessed the fastest growth rate of 8.2% during the forecast period. This high rate is attributed to the rise in demand for the product from various end-user industries such as pharmaceutical, automotive, and cosmetic manufacturing
- Major market players have an extensive presence throughout the value chain. Some major companies engaged in product manufacturing include INEOS; Shell Plc; Honeywell International, Inc.; SABIC; and others. These companies have been the industry leaders due to the constant product innovation, backed by the rapid adoption of the latest technological interface
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Table of Contents
Chapter 1 Methodology And Scope1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.4 Information Analysis
1.5 Market Formulation & Data Visualization
1.6 Data Validation & Publishing
1.6.1 Research Scope And Assumptions
1.6.2 List Of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Acetone Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Outlook
3.2.2 Manufacturing Trends
3.3 Price Trend Analysis, 2018 - 2030
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Growing Demand For Acetone In Cosmetics And Personal Care Products
3.5.1.2 Growing Use Of Acetone To Manufacture Plastics
3.5.2 Market Restraint Analysis
3.5.2.1 Strict Regulations Due To The Hazardous Nature Of Acetone
3.5.3 Market Challenge Analysis
3.5.4 Market Opportunity Analysis
3.6 Business Environment Analysis
3.6.1 Industry Analysis - Porter
3.6.2 PESTEL Analysis
Chapter 4 Acetone Market: Grade Estimates & Trend Analysis
4.1 Grade Movement Analysis & Market Share, 2022 & 2030
4.1.1 Specialty Grade
4.1.1.1 Specialty Grade Acetone Market Estimates & Forecast And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
4.1.2 Technical Grade
4.1.2.1 Technical Grade Acetone Market Estimates & Forecast And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5 Acetone Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.1.1 Methyl Methacrylate
5.1.1.1 Acetone Market Estimates & Forecast And Trend Analysis, In Methyl Methacrylate, 2018 - 2030 (Kilotons) (USD Million)
5.1.2 Bisphenol A
5.1.2.1 Acetone Market Estimates & Forecast And Trend Analysis, In Bisphenol A, 2018 - 2030 (Kilotons) (USD Million)
5.1.3 Solvents
5.1.3.1 Acetone Market Estimates & Forecast And Trend Analysis, In Solvents, 2018 - 2030 (Kilotons) (USD Million)
5.1.4 Other Applications
5.1.4.1 Acetone Market Estimates & Forecast And Trend Analysis, In Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6 Acetone Market: Regional Estimates & Trend Analysis
6.1 Acetone Market: Regional Outlook
6.2 North America
6.2.1 North America Acetone Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.2.2 U.S.
6.2.2.1 Key Country Dynamics
6.2.2.2 U.S. Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.2.3 Canada
6.2.3.1 Key Country Dynamics
6.2.3.2 Canada Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.2.4 Mexico
6.2.4.1 Key Country Dynamics
6.2.4.2 Mexico Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.3 Europe
6.3.1 Europe Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.3.2 Germany
6.3.2.1 Key Country Dynamics
6.3.2.2 Germany Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.3.3 France
6.3.3.1 Key Country Dynamics
6.3.3.2 France Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.3.4 Belgium
6.3.4.1 Key Country Dynamics
6.3.4.2 Belgium Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.3.5 Cis
6.3.5.1 Key Country Dynamics
6.3.5.2 Cis Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.4 Asia Pacific
6.4.1 Asia Pacific Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.4.2 China
6.4.2.1 Key Country Dynamics
6.4.2.2 China Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.4.3 Japan
6.4.3.1 Key Country Dynamics
6.4.3.2 Japan Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.4.4 India
6.4.4.1 Key Country Dynamics
6.4.4.2 India Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.4.5 South Korea
6.4.5.1 Key Country Dynamics
6.4.5.2 South Korea Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.4.6 Taiwan
6.4.6.1 Key Country Dynamics
6.4.6.2 Taiwan Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.5 Central & South America
6.5.1 Central & South America Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.5.2 Brazil
6.5.2.1 Key Country Dynamics
6.5.2.2 Brazil Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.5.3 Argentina
6.5.3.1 Key Country Dynamics
6.5.3.2 Argentina Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.6 Middle East & Africa
6.6.1 Middle East & Africa Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.6.2 Saudi Arabia
6.6.2.1 Key Country Dynamics
6.6.2.2 Saudi Arabia Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
6.6.3 South Africa
6.6.3.1 Key Country Dynamics
6.6.3.2 South Africa Acetone Market Estimates & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7 Acetone Market - Competitive Landscape
7.1 Company Listing
7.2 Financial Performance
7.3 Product Benchmarking
7.4 Company Categorization
7.5 Company Heat Map Analysis
7.6 List Of Key End-Users
7.7 Strategy Mapping
7.7.1 Mergers & Acquisition
7.7.2 Collaborations
7.7.3 New Product Launches
7.7.4 Research & Development
Chapter 8 Pipeline By Grand View Research
List of Tables
Table 1 U.S. macro-economic outlay
Table 2 Canada macro-economic outlay
Table 3 Mexico macro-economic outlay
Table 4 Germany macro-economic outlay
Table 5 France macro-economic outlay
Table 6 Belgium macro-economic outlay
Table 7 CIS macro-economic outlay
Table 8 China macro-economic outlay
Table 9 Japan macro-economic outlay
Table 10 India macro-economic outlay
Table 11 South Korea macro-economic outlay
Table 12 Taiwan macro-economic outlay
Table 13 Brazil macro-economic outlay
Table 14 Argentina macro-economic outlay
Table 15 Saudi Arabia macro-economic outlay
Table 16 South Africa macro-economic outlay
Table 17 Company Listing
Table 18 Financial Performance
Table 19 Product Benchmarking
Table 20 Company Heat Map Analysis
Table 21 List of Key end-users
Table 22 Key Companies involved in M&A
Table 23 Key Companies launching new products
Table 24 Key Companies undertaking R&D activities
List of Figures
Fig. 1 Acetone Market Segmentation & Scope
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market Formulation And Validation
Fig. 5 Data validating & publishing
Fig. 6 Acetone Market Snapshot
Fig. 7 Acetone Market Segment Snapshot, 2022 (USD Million)
Fig. 8 Acetone Market: Competitive Landscape Snapshot
Fig. 9 Acetone Value Chain Analysis
Fig. 10 Acetone Market Dynamics
Fig. 11 PORTER’S Analysis
Fig. 12 PESTEL Analysis
Fig. 13 Acetone Market Estimate & Forecast and Trend Analysis, by Grade, Key Takeaways
Fig. 14 Acetone Market Estimates & Forecast and Trend Analysis, by Grade, Market Share 2022 & 2030
Fig. 15 Specialty Grade Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 16 Technical Grade Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 17 Acetone Market Estimate & Forecast and Trend Analysis, by Application, Key Takeaways
Fig. 18 Acetone Market Estimates & Forecast and Trend Analysis, by Application, Market Share 2022 & 2030
Fig. 19 Acetone Market Estimates & Forecast and Trend Analysis, in Methyl Methacrylate, 2018 - 2030 (Kilotons) (USD Million)
Fig. 20 Acetone Market Estimates & Forecast and Trend Analysis, in Bisphenol A, 2018 - 2030 (Kilotons) (USD Million)
Fig. 21 Acetone Market Estimates & Forecast and Trend Analysis, in Solvents, 2018 - 2030 (Kilotons) (USD Million)
Fig. 22 Acetone Market Estimates & Forecast and Trend Analysis, in Other Applications 2018 - 2030 (Kilotons) (USD Million)
Fig. 23 Acetone market revenue, by region, (USD Million)
Fig. 24 North America Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 25 U.S. Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 26 Canada Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 27 Mexico Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 28 Europe Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 29 Germany Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 30 France Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 31 Belgium Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 32 CIS Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 33 Asia Pacific Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 34 China Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 35 Japan Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 36 India Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 37 South Korea Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 38 Taiwan Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 39 Central & South America Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 40 Brazil Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 41 Argentina Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 42 Middle East & Africa Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 43 Saudi Arabia Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Fig. 44 South Africa Acetone Market Estimates & Forecast and Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Companies Mentioned
- INEOS
- Shell Plc
- Honeywell International Inc
- Mitsui Chemicals, Inc.
- CEPSA Quimica, S.A.
- SABIC
- Arkema
- Solvay
- DOMO Chemicals
- Kumho P&B Chemicals
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 82 |
| Published | March 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 5.69 Billion |
| Forecasted Market Value ( USD | $ 10.23 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
