Acetone Market Report 2026

The acetone market size has grown steadily in recent years. It will grow from $5.46 billion in 2025 to $5.65 billion in 2026 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to expansion of petrochemical manufacturing capacity, growth of plastics and resins production, rising demand from paints and coatings industry, increased usage in laboratory and industrial solvents, availability of cost-effective production processes.

The acetone market size is expected to see steady growth in the next few years. It will grow to $6.6 billion in 2030 at a compound annual growth rate (CAGR) of 4%. The growth in the forecast period can be attributed to growing demand for lightweight plastics, rising consumption in pharmaceutical formulations, expansion of electronics-grade solvent usage, increasing investments in sustainable chemical production, growing demand from emerging manufacturing economies. Major trends in the forecast period include increasing use of acetone in specialty plastics production, rising demand for high-purity solvents, growing application in cosmetics and personal care, expansion of mma and bpa production chains, enhanced focus on process safety and handling standards.

The increased demand for personal care products is expected to drive the growth of the acetone market in the coming years. Personal care products include consumer goods used for hygiene, grooming, and beautification, such as nail polish removers, skincare items, and hair care products. Acetone is a key chemical extensively used in these formulations, so rising consumption directly increases the demand for acetone. Growth in personal care products is fueled by changing consumer preferences, greater beauty awareness, and wider product availability across retail channels. For example, in August 2023, according to Circana, Inc., a US-based media company, sales of prestige beauty products in the United States reached $14 billion in the first half of 2023, a 15% increase compared to the same period in 2022, while the mass beauty segment generated $28 billion, recording 9% growth. Hence, the growing demand for personal care products is supporting the expansion of the acetone market.

Major players in the acetone market are investing in new production facilities to expand their presence and strengthen their market position. These investments aim to enhance production capabilities and implement innovations. For instance, in November 2023, Shanghai Sinopec Mitsui Chemicals Co. Ltd., a China-based chemical company, announced the resumption of production at its Sinopec Mitsui Chemicals phenol plant in Shanghai. The acetone and phenol produced at the plant will serve as raw materials for synthesizing bisphenol A (BPA), which is used in producing polycarbonate, a thermoplastic applied across various industries.

In April 2023, INEOS Phenol, a manufacturing company based in Germany, acquired Mitsui Phenol Singapore Co. Ltd. for $330 million. This acquisition enhances INEOS' portfolio by adding phenol and bisphenol A assets in Jurong, creating a significant opportunity for integration with its production facilities in Germany, Belgium, and the United States. With this entry into the Asian market, INEOS Phenol is well-positioned to support the future growth plans of its global customers while also expanding into new markets and fostering customer relationships related to bisphenol A (BPA), a new product for the company. Mitsui Phenol Singapore Co. Ltd. is a manufacturer of acetone based in the United States.

Major companies operating in the acetone market are INEOS Phenol GmbH, Royal Dutch Shell plc, Honeywell International Inc., Prasol Chemicals Limited, Mitsui Chemicals Inc., Kumho P&B Chemicals Inc., Saudi Basic Industries Corporation., LyondellBasell Industries Holdings B.V., ALTIVIA Chemicals LLC, Formosa Chemicals & Fibre Corp, Borealis AG, Reliance Industries Limited, CEPSA Quimica S.A, Arkema S.A., Celanese Corporation, The Dow Chemical Company, LG Chem Ltd., Deepak Nitrite Limited, PTT Global Chemical Public Company Limited, China National Petroleum Corporation, Dairen Chemical Corporation, Chevron Phillips Chemical Company LLC, Versalis S.p.A., Daicel Corporation, JX Nippon Oil & Energy Corporation, PetroChina Company Limited, Lihuayi Group Co. Ltd., SunVic Chemical Holdings Limited.

Asia-Pacific was the largest region in the acetone market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the acetone market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the acetone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The acetone market consists of sales of reagent grade, spectrophotometric grade, HPLC grade, histological grade, laboratory grade, cleanroom grade, and FCC grade acetone. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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