- In July 2023, the International Monetary Fund (IMF) warned that the global acetone market could be facing a shortage in the near future. The IMF cited rising demand from the chemical and plastics industries, as well as supply disruptions from Russia and China, as the main reasons for the potential shortage. This supply disruptions from major producers such as Russia and China further highlight the need for diversification and investment in acetone production, fostering market expansion and stability
- In June 2023, Eastman Chemical announced that it would be investing $100 million to expand its acetone production capacity at its plant in Kingsport, Tennessee. This expansion is also expected to meet the growing demand for acetone from the chemical and plastics industries
- 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, acetone, Bisphenol-A, and Epoxy resin).This certification attracts eco-conscious consumers, fostering trust and loyalty. Consequently, increased demand for environmentally-friendly acetone drives sales growth, expands market reach, and solidifies Kumho P&B Chemicals' position in the acetone market
- In July 2022, LG Chem announced that it would export 1,200 tons of acetone and 4,000 tons of phenol. According to the company, this is South Korea's largest shipment of products with the ISCC PLUS certification. This large-scale shipment establishes LG Chem as a leading provider of eco-friendly chemicals, driving sales and expanding market share for acetone while promoting sustainability in the industry
