Europe Acetone Market, By Application (Methyl Methacrylate (MMA), Bisphenol A (BPA) and Solvents), Distribution Channel (Manufacturer to Distributor and Manufacturer to End-User), Grade Outlook (Specialty Grade and Technical Grade), End Use (Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical, Agricultural Chemicals, Paints & Coatings and Adhesives) – Industry Trends and Forecast to 2029.
Europe Acetone Market Analysis and Size
The chemical is used extensively as a solvent for fats, oils, waxes, resins, rubber, plastics, lacquers, varnishes, and rubber cements and is also used as an intermediate in formation of Bisphenol-A (BPA), Methyl Methacrylate (MMA) and Methyl Isobutyl Ketone (MIBK). Increased demand from various end user industries such as personal care, pharmaceuticals, cosmetics, paints and coatings boosting the market's growth.
Data Bridge Market Research analyses that the acetone market which was growing at a value of 1631.13 million in 2021 and is expected to reach the value of USD 2560.79 million by 2029, at a CAGR of 5.8% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Europe Acetone Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD million, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Methyl Methacrylate (MMA), Bisphenol A (BPA) and Solvents), Distribution Channel (Manufacturer to Distributor and Manufacturer to End-User), Grade Outlook (Specialty Grade and Technical Grade), End Use (Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical, Agricultural Chemicals, Paints & Coatings and Adhesives)
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Countries Covered
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Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe
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Market Players Covered
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ExxonMobil Corporation (U.S.), Reliance Industries Limited (India), Marathon Petroleum Corporation (U.S.), Dupont (U.S.), PJSC Lukoil Oil Company (Russia), Valero (U.S.), Shell (U.K.), Chevron Corporation (U.S.), Honeywell International Inc. (U.S.), Janex S.A (Switzerland), SOLVAY (Belgium), Neste (Finland), Soltex Inc. (U.S.), Hengyi Industries Sdn Bhd (Malaysia), BASF SE (Germany), Ashland Inc., (U.S.), Adrol (U.S.), Koch Engineered Solutions (U.S.), Cosmique Pvt. Ltd. (India)
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Opportunities
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Market Definition
Acetone is a colourless, volatile, flammable liquid that is commonly used as an industrial solvent. Acetone is an organic compound that is primarily produced as a by-product of phenol's reaction with benzene and propylene via the cumene hydro peroxide process. Acetone is primarily used as a feedstock for producing methyl methacrylate, Bisphenol A (BPA), and solvents. Acetone is widely used in a variety of industries, including pharmaceuticals, agricultural chemicals and paints, coatings, cosmetics and personal care, electronics, construction, automotive, and adhesives, all of which should contribute to industry growth.
Acetone Market Dynamics
Drivers
- Expansion in regions chemical and industrial sectors
Acetone demand in the Europe is driven by the paints and coatings, construction, and automotive industries. The rapid growth of these industries, owing to rising employment and disposable income, is expected to drive acetone demand. Due to the rising demand from various demographics and the presence of large corporations, the cosmetics and pharmaceutical industries have shown growth potential. Increasing investments in downstream facilities for the production of plastic resins, are expected to open up new growth avenues in the future. This trend is expected to result in significant industrialization, which will benefit the regional chemical industry.
- Ramping of production due to high demands
Due to the high demand for acetone, manufacturers have had to ramp up production. This increased production per year resulted in a price increase in 2017, and this trend is expected to continue throughout the forecast period. Another reason for rising operational costs is a stagnant profit margin. The high cost was also driven by a combination of factors, including increasing propylene prices and domestic supply regulations, particularly in developing countries.
Opportunities
- Intervention of plastic resins
The production of plastic resins is expected to open up new growth opportunities for the market in the future. As acetone is a solvent with high solubility, solvent-based paints and coatings dry faster than low-solvent paints, making them more preferable and potentially profitable for the paints and coatings segment. A significant increase in the production of sanitizers and disinfectants is also expected to be a key opportunity for market growth.
Restraints
- Flammability and toxicity
Acetone has a high flammability and low acute toxicity. These factors may be a detriment to the global acetone market because exposure to this liquid causes severe eye irritation and may cause drowsiness or dizziness. Another major factor expected to impede the growth of the global acetone market over the forecast period is the high price of acetone.
- Negative effects on human health
Due to the organic compound's high solubility in water, groundwater contamination may occur, resulting in environmental degradation that may have an impact on human health. The European Commission's increased regulations on BPA are likely to impede the growth of the acetone market, as it is a key ingredient in the production of polycarbonates and epoxy resins. Furthermore, the availability of substitutes and the increasing use of green solvents can stifle growth.
This acetone market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the acetone market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Europe Acetone Market Dynamics
The COVID-19 pandemic has weakened demand for acetone and its derivatives due to logistics, large-scale supply chain disruptions, and economic disruptions. Furthermore, due to temporary lockdown measures imposed by governments, chemical manufacturing plants' operations have negatively impacted the acetone market share. Furthermore, automotive production and construction delays cause a drop in polymers and plastics. As a result, the demand for industrial chemicals like BPA and MMA falls. With new opportunities, pharmaceutical manufacturers, the largest consumers of acetone, attempt to re-establish their market position. Furthermore, the increased demand for numerous drugs, medications, and hygiene products as a result of the pandemic increases the demand for acetone market share.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In August 2021, Brenntag, a solvents distributor and the largest distributor of acetone in North America, announced the acquisition of Matrix Chemical, LLC's business and all operating assets. In 2021, the company reported sales of more than USD200 million. The transaction closed and the acquisition was signed simultaneously.
- In March 2020, Mitsubishi Chemical began planning a 350,000 metric tonne per year MMA facility in the United States. This new plant, an alternative to the traditional acetone cyanohydrin process, is based on acetone and hydrogen cyanide.
Europe Acetone Market Scope
The acetone market is segmented on the basis of application, distribution channel, grade outlook and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Grade Outlook
- Specialty Grade
- Technical Grade
Application
- Methyl Methacrylate (MMA)
- Bisphenol A (BPA)
- Solvents
Distribution Channel
- Manufacturer to Distributor
- Manufacturer to End-User
End Use
- Cosmetics and Personal Care
- Electronics
- Construction
- Automotive
- Pharmaceutical
- Agricultural Chemicals
- Paints & Coatings
- Adhesives
Acetone Market Regional Analysis/Insights
The acetone market is analysed and market size insights and trends are provided by country, application, distribution channel, grade outlook and end use as referenced above.
The countries covered in the acetone market report are Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe.
Germany dominates the European acetone market due to its easy availability and reasonable prices in the region. France is the market leader due to rising acetone demand in the textile industry. And Russia is dominating the market due to increased production of benzene, a market raw material.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Acetone Market Share Analysis
The acetone market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to acetone market.
Some of the major players operating in the acetone market are:
- ExxonMobil Corporation (U.S.)
- Reliance Industries Limited (India)
- Marathon Petroleum Corporation (U.S.)
- Dupont (U.S.)
- PJSC Lukoil Oil Company (Russia)
- Valero (U.S.)
- Shell (U.K.)
- Chevron Corporation (U.S.)
- Honeywell International Inc. (U.S.)
- Janex S.A (Switzerland)
- SOLVAY (Belgium)
- Neste (Finland)
- Soltex Inc. (U.S.)
- Hengyi Industries Sdn Bhd (Malaysia)
- BASF SE (Germany)
- Ashland Inc., (U.S.)
- Adrol (U.S.)
- Koch Engineered Solutions (U.S.)
- Cosmique Pvt. Ltd. (India)
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