The global acetone market size reached US$ 6.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028. The widespread usage of acetone across various industrial verticals, the increasing demand for plastics, the widespread product usage in personal care industry, and the significant expansion in the automotive industry represent some of the key factors driving the market.
Acetone (C3H60), or dimethyl ketone, refers to a clear, colorless, water-soluble, flammable, volatile industrial liquid with a strong, pungent smell. It can be easily found in the exhaust generated by vehicles, plants, trees, and forest fires and also industrially formulated by bacterial fermentation. It can also be derived through alkylating benzene with propylene in the cumene cycle to produce cumene, which is later oxidized to compose phenol and acetone. It is versatile, miscible, has a lower boiling point, and exhibits the potential to breakdown down fat, stains, and grease quickly. Based on these properties, acetone is chiefly utilized as a key intermediate in various products, including adhesives, textiles, adhesives, paints, coatings, petroleum, nail polish removers, polyvinyl chloride (PVC), and antiseptic solutions.
Acetone Market Trends:
The widespread use of acetone across various industrial verticals to formulate polycarbonate, methyl methacrylate (MMA), and bisphenol A (BPA) as essential derivatives represents a prime factor driving the market growth. These products are utilized to compose food-grade bottles, cans, translucent sheets, and poly (methyl methacrylate) (PMMA), which is further employed in several constructional and infrastructural applications. Moreover, the sudden outbreak of the COVID-19 pandemic has prompted pharmaceutical companies to develop effective solvents, sanitizers, disinfectants, and dimethyl ketone-related materials, which, in turn, is facilitating the demand for acetone. Additionally, the increasing need for petrochemical products and the implementation of favorable green initiatives have encouraged manufacturers to produce renewable dimethyl ketone, which is acting as another growth-inducing factor. In comparison to petroleum solvents, such green compounds are non-toxic, non-corrosive, and non-carcinogenic and reduce the levels of toxic and corrosive chemicals emitted in the environment. In line with this, the extensive acetone incorporation in multiple personal care and cosmetic products, such as nail polish removers and cleansing and fragrance items, is favoring the market growth. Acetone is further utilized in the textile for degreasing wool, degumming silk, and forming lacquers. Apart from this, the rising acetone usage in automobile windows, headlamps, taillights, and headlamps is positively stimulating the market growth. Other factors, such as extensive research and development (R&D) activities, the increasing demand for beauty products, and the expanding electronics industry, are creating a positive outlook for the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global acetone market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on application, grade, distribution channel, and end use industry.
- Methyl Methacrylate (MMA)
- Bisphenol A (BPA)
The report has also provided a detailed breakup and analysis of the acetone market based on the application. This includes methyl methacrylate (MMA), bisphenol A (BPA), solvents, and others. According to the report, solvents represented the largest segment.
- Specialty Grade
- Technical Grade
A detailed breakup and analysis of the acetone market based on the grade has also been provided in the report. This includes specialty and technical grades. According to the report, technical grade accounted for the largest market share.
Distribution Channel Insights:
- Manufacturer to Distributor
- Manufacturer to End-User
The report has also provided a detailed breakup and analysis of the acetone market based on the distribution channel. This includes manufacturers to distributor and to end-user. According to the report, manufacturers to end-user represented the largest segment.
End Use Industry Insights:
- Cosmetics and Personal Care
- Paints, Coatings and Adhesives
- Textile Industry
A detailed breakup and analysis of the acetone market based on the end use industry has also been provided in the report. This includes cosmetics and personal care, electronics, automotive, pharmaceutical, paints, coatings, and adhesives, textile industry, and others. According to the report, cosmetics and personal care accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for acetone. Some of the factors driving the Asia Pacific acetone market included the significant expansion in the electronics industry, the rising demand for personal care and cosmetics products, and extensive research and development (R&D) activities.
The report has also provided a comprehensive analysis of the competitive landscape in the global acetone market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Altivia, Arkema S.A., Borealis AG (OMV Aktiengesellschaft), Compañía Española de Petróleos S.A.U. (Cepsa), Honeywell International Inc., INEOS Group Limited, Kumho P&B Chemicals Inc. (Kumho Petrochemical Co. Ltd.), Mitsui Chemicals Inc., PTT Global Chemical Public Company Limited, Sasol Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shell plc, Solvay S.A, Thermo Fisher Scientific Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Methyl Methacrylate (MMA), Bisphenol A (BPA), Solvents, Others
||Specialty Grade, Technical Grade
|Distribution Channels Covered
||Manufacturer to Distributor, Manufacturer to End-User
|End Use Industries Covered
||Cosmetics and Personal Care, Electronics, Automotive, Pharmaceutical, Paints, Coatings and Adhesives, Textile Industry, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Altivia, Arkema S.A., Borealis AG (OMV Aktiengesellschaft), Compañía Española de Petróleos S.A.U. (Cepsa), Honeywell International Inc., INEOS Group Limited, Kumho P&B Chemicals Inc. (Kumho Petrochemical Co. Ltd.), Mitsui Chemicals Inc., PTT Global Chemical Public Company Limited, Sasol Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shell plc, Solvay S.A, Thermo Fisher Scientific Inc., etc.
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Key Questions Answered in This Report:
- How has the global acetone market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global acetone market?
- What are the key regional markets?
- Which countries represent the most attractive acetone markets?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the grade?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the end use industry?
- What is the competitive structure of the global acetone market?
- Who are the key players/companies in the global acetone market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the acetone market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global acetone market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the acetone industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.