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Global Acetone Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jan 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Acetone Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 5.5% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 6.81 Billion
Diagram Market Size (Forecast Year) USD 10.35 Billion
Diagram CAGR 5.5%

Global Acetone Market, By Application (Methyl Methacrylate (MMA), Bisphenol A (BPA), Solvents), Distribution Channel (Manufacturer to Distributor, Manufacturer to End-User), Grade Outlook (Specialty Grade, Technical Grade), End Use (Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical, Agricultural Chemicals, Paints & Coatings, Adhesives) - Industry Trends and Forecast to 2030.

Acetone Market

 

Acetone Market Analysis and Size

The essential factors contributing to the growth of the acetone market include high demand for acetone in paints and coatings, construction, and automotive industries, utilization of acetone for epoxy and polycarbonate production and heat resistant attributes, and increasing demand for polycarbonate for applications including optical media, electrical & electronics and automotive.

Data Bridge Market Research analyzes that the global acetone market which was USD 6.81 billion in 2022, is expected to reach USD 10.35 billion by 2030, growing at a CAGR of 5.5% during the forecast period of 2023 to 2030. 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.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Application (Methyl Methacrylate (MMA), Bisphenol A (BPA), Solvents), Distribution Channel (Manufacturer to Distributor, Manufacturer to End-User), Grade Outlook (Specialty Grade, Technical Grade), End Use (Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical, Agricultural Chemicals, Paints & Coatings, Adhesives)

Countries Covered

U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Hungary, Italy, Rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E., Israel, Rest of Middle East and Africa

Market Players Covered

Cepsa (Spain), KUMHO P&B CHEMICALS, INC. (South Korea), SABIC (Saudi Arabia), LyondellBasell Industries Holdings B.V. (Netherlands), INEOS (U.K.), Dow (U.S.), Shell International B.V. (Netherlands), Honeywell International Inc. (U.S.), Mitsui Chemicals Inc. (Japan), EMCO Chemical Distributors, Inc. (U.S.), Prasol Chemicals Pvt. Ltd. (India), Formosa Chemicals & Fiber Corp. (Taiwan), Altivia (U.S.), Borealis AG (Austria), Hindustan Organic Chemicals Limited (India), Domo Chemicals (Belgium), U.S. Chemical & Plastics (U.S.), Sunmarks, LLC. (U.S.), The Plaza Group (U.S.), and Versalis S.p.A. (Italy)

Market Opportunities

  • Rising application of acetone in different industries
  • Increasing spending on research and development

Market Definition

Acetone is a volatile, flammable, and colorless liquid commonly used as an industrial solvent. Acetone is an organic compound that is mainly produced through the cumene hydroperoxide process as a by-product of phenol on reaction with benzene and propylene. Acetone is majorly used as an essential feedstock for methyl methacrylate, Bisphenol A (BPA) and solvents manufacturing. Acetone is majorly used in industries including pharmaceutical, agriculture chemicals and paints, coatings, cosmetics & personal care, electronics, construction, automotive and adhesives which should accelerate industry growth.

Global Acetone Market Dynamics

Drivers

  • Rising application of acetone in different industries

Acetone is primarily produced as a byproduct of the phenol production process. Increased demand for phenol, which is used in the production of plastics, resins, and adhesives, can drive the acetone market. Acetone is a versatile solvent used in various applications, including paints, coatings, adhesives, and nail polish removers. Growth in these industries can boost acetone demand. Moreover, Acetone is used in the pharmaceutical and personal care industries for various applications. The growth of these sectors can drive demand for acetone.

  • Growing demand for acetone in renewable and sustainable applications

Acetone can be produced from renewable sources such as biomass, and there is growing interest in more sustainable and environmentally friendly production methods. In addition, changing consumer preferences, such as a shift towards more environmentally friendly products or increased demand for personal care items, can impact the demand for acetone-based products.

Opportunity

  • Increasing spending on research and development

Ongoing research and development efforts can lead to the discovery of new applications for acetone or more efficient production methods, potentially driving market growth. Furthermore, the overall economic health of regions or countries can have a significant impact on the demand for acetone. Economic growth typically leads to increased industrial and consumer activity, which can drive demand for acetone-based products.

Restraint/Challenge

  • Raw material price volatility

The cost of producing acetone is influenced by the price of raw materials such as benzene and propylene. Fluctuations in the prices of these feedstocks can affect the profitability of acetone production. Furthermore, the cost of producing acetone is influenced by the price of raw materials such as benzene and propylene. Fluctuations in the prices of these feedstocks can affect the profitability of acetone production.

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.

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 Development

  • In June 2023, Kumho P&B Chemicals (CEO Shin Woo-Sung) announced that it has obtained ISCC PLUS certification for its five products (Cumene, Phenol, Aceotone, Bisphenol-A, and Epoxy resin)

ISCC PLUS is an international certification system that verifies and grants the sustainability of the entire production process in accordance with the European Union’s Renewable Energy Directive (EU RED). ISCC is evaluated as a highly reliable institution in the field of eco-friendly certification due to its transparent screening standards and strict procedures

Global 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.

Application

  • Methyl Methacrylate (MMA)
  • Bisphenol A (BPA)
  • Solvents

Distribution Channel

  • Manufacturer to Distributor
  • Manufacturer to End-User

Grade Outlook

  • Specialty Grade
  • Technical Grade

End Use

  • Cosmetics and Personal Care
  • Electronics
  • Construction
  • Automotive
  • Pharmaceutical
  • Agricultural Chemicals
  • Paints & Coatings
  • Adhesives

Global Acetone Market Regional Analysis/Insights

The acetone market is analyzed and market size insights and trends are provided by application, distribution channel, grade outlook and end use as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

Asia-Pacific is expected to dominate the acetone market due to affordable infrastructure and labour costs and rising industrialization. Emergence of advanced technology in industries is also a reason for the growth of market in this region.

North America is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to increase in establishment of petrochemical industries in this region and usage of acetone in chemical and plastic industries.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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 global 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 Global 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, global 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:

  • Cepsa (Spain)
  • KUMHO P&B CHEMICALS, INC. (South Korea)
  • SABIC (Saudi Arabia)
  • LyondellBasell Industries Holdings B.V. (Netherlands)
  • INEOS (U.K.)
  • Dow (U.S.)
  • Shell International B.V. (Netherlands)
  • Honeywell International Inc. (U.S.)
  • Mitsui Chemicals Inc. (Japan)
  • EMCO Chemical Distributors, Inc. (U.S.)
  • Prasol Chemicals Pvt. Ltd. (India)
  • Formosa Chemicals & Fiber Corp. (Taiwan)
  • Altivia (U.S.)
  • Borealis AG (Austria)
  • Hindustan Organic Chemicals Limited (India)
  • Domo Chemicals (Belgium)
  • U.S. Chemical & Plastics (U.S.)
  • Sunmarks, LLC. (U.S.)
  • The Plaza Group (U.S.)
  • Versalis S.p.A. (Italy)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Acetone Market size will be worth USD 10.35 billion by 2030 during the forecast period.
The Acetone Market growth rate is 5.5% during the forecast period by 2030.
The Rising application of acetone in different industries, growing demand for acetone in renewable and sustainable applications are the growth drivers of the Acetone Market.
The application, distribution channel, grade outlook, and end use are the factors on which the Acetone Market research is based.
The major companies in the Acetone Market are Cepsa (Spain), KUMHO P&B CHEMICALS, INC. (South Korea), SABIC (Saudi Arabia), LyondellBasell Industries Holdings B.V. (Netherlands), INEOS (U.K.), Dow (U.S.), Shell International B.V. (Netherlands), Honeywell International Inc. (U.S.), Mitsui Chemicals Inc. (Japan), EMCO Chemical Distributors, Inc. (U.S.), Prasol Chemicals Pvt. Ltd. (India), Formosa Chemicals & Fiber Corp. (Taiwan), Altivia (U.S.), Borealis AG (Austria), Hindustan Organic Chemicals Limited (India), Domo Chemicals (Belgium), U.S. Chemical & Plastics (U.S.), Sunmarks, LLC. (U.S.), The Plaza Group (U.S.), and Versalis S.p.A. (Italy).
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