Acetone Market Overview:
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
Key Market Drivers:
- Demand in Chemicals: Acetone is a precursor for various chemicals like bisphenol A and methyl methacrylate.
- Solvent Use: Broad usage in pharmaceuticals, cosmetics, and industrial cleaning applications.
- Growing Electronics Market: Acetone is essential in semiconductor manufacturing and cleaning.
- Automotive Coatings: Increasing use in paints and coatings for automobiles.
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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
Market Research Scope:
This report explores the acetone market, covering its applications as a solvent and raw material in industries like chemicals, pharmaceuticals, and cosmetics. It evaluates production trends, supply-demand dynamics, and environmental regulations impacting the market. The study also highlights advancements in bio-based acetone production, regional market trends, and competitive analysis of key players, providing a comprehensive outlook on growth opportunities and challenges.
Acetone Market Segmentation:
The acetone market is segmented by application (solvents, bisphenol A, methyl methacrylate, and others), end-use industry (chemicals, pharmaceuticals, cosmetics, and electronics), and production method (cumene process, bio-based acetone, and others). Regional segmentation includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The segmentation highlights application-specific demand trends and regional supply-chain dynamics.
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 is set to resume operations at its Phenol/Acetone Unit in Japan by mid-June 2024. The facility has an annual production capacity of 190,000 tons of phenol and 114,000 tons of acetone, aimed at boosting supply levels and meeting market demands.
April 2023: INEOS Phenol completed the acquisition of the chemical segment of Mitsui Phenols Singapore Ltd. This strategic move strengthens INEOS’s global customer support capabilities and promotes growth in new markets and partnerships across Asia.
July 2022: LG Chem announced its plan to export 1,200 tons of acetone and 4,000 tons of phenol. This marks one of South Korea’s largest ISCC PLUS-certified shipments, emphasizing sustainable chemical production.
The Acetone market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.