The acetone market is expanding due to its extensive use in solvents, plastics, and personal care products. It is a key ingredient in the production of bisphenol A (BPA) and methyl methacrylate (MMA), both crucial in the manufacturing of plastics and resins. Growing demand from the pharmaceutical and cosmetics industries also supports market growth. However, environmental concerns and the shift toward bio-based acetone alternatives are influencing industry trends. The increasing use of acetone in chemical synthesis and industrial applications further fuels its demand globally.
Global Acetone Market size and share is currently valued at USD 6.90 billion in 2024 and is anticipated to generate an estimated revenue of USD 12.60 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.8% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Acetone Market – Trends & Drivers
- Growing Demand in Solvent Applications: Acetone is widely used as an industrial solvent in paints, coatings, and adhesives, driving market growth.
- Rising Use in Pharmaceuticals & Personal Care: Increasing demand for acetone in skincare, nail polish removers, and pharmaceutical formulations boosts the market.
- Expansion of the Chemical Industry: Acetone serves as a key raw material for manufacturing bisphenol A (BPA) and methyl methacrylate (MMA), supporting market expansion.
- Surging Demand in Plastics & Polymers: The growing plastics industry, especially in packaging and automotive sectors, increases acetone consumption.
- Sustainability Concerns & Bio-Based Alternatives: The rise of eco-friendly, bio-based acetone solutions is gaining traction due to environmental regulations.
Key Companies in Acetone Market:
- Arkema
- CEPSA Chemicals
- DOMO Chemicals
- Honeywell International Inc.
- INEOS
- Kumho P&B Chemicals
- Mitsui Chemicals Inc.
- SABIC
- Shell Plc
- Solvay
Growth Factors:
• Market dynamics:All the key factors and major developments anticipated to boost the growth of the market are covered in the study.
• Technological evolution:The report offers a thorough understanding of the emerging technologies that can influence the Acetone market demand.
• Innovation pathways: The study covers where innovations can take the market in the mid to long term.
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https://www.polarismarketresearch.com/industry-analysis/acetone-market
The Geographical Analysis Covers Following Key Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Acetone Market Segmentation:
The acetone market is segmented by application, end-user industry, and region. Major applications include solvents, bisphenol A (BPA) production, methyl methacrylate (MMA) production, and pharmaceuticals, with solvents holding the largest share. The end-user industries include chemicals, cosmetics & personal care, automotive, construction, and healthcare. The chemical industry dominates, driven by demand for BPA and MMA in plastic manufacturing. Regionally, the market is classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with Asia-Pacific leading due to rapid industrial expansion and growing demand for petrochemicals.
Acetone Market, Grade Outlook (Revenue – USD Billion, Volume Kilotons, 2019-2032)
- Specialty Grade Acetone
- Technical Grade Acetone
Acetone Market, Application Outlook (Revenue – USD Billion, Volume Kilotons, 2019-2032)
- Bisphenol A
- Methyl Methacrylate
- Solvents
- Methyl Isobutyl Ketone
- Others
Acetone Market, End-User Outlook (Revenue – USD Billion, Volume Kilotons, 2019-2032)
- Construction
- Automotive
- Cosmetics and Personal Care
- Paints and Coatings
- Pharmaceutical
- Agriculture
- Others
Acetone Industry Developments
- March 2024: Mitsui Chemicals announced that it will resume operations at its Phenol/Acetone Unit in Japan by mid-June 2024. The unit, with an annual production capacity of 190,000 tons of phenol and 114,000 tons of acetone, aims to improve supply levels and meet the growing demand in the market.
- April 2023: INEOS Phenol successfully acquired the chemical segment of Mitsui Phenols Singapore Ltd. This strategic acquisition strengthens INEOS’s ability to support its global customer base while also driving growth in new markets and fostering key partnerships across Asia.
- July 2022: LG Chem revealed its plan to export 1,200 tons of acetone and 4,000 tons of phenol, marking one of the largest shipments in South Korea to be certified with ISCC PLUS, a certification that emphasizes sustainability and traceability in the chemical supply chain.
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