Acetone Market: By Application (Solvents, Bisphenol A, Methyl Methacrylate, and Others), By End-Use Industry (Cosmetics and Personal Care, Electronics, Automotive, Pharmaceutical, Paints, Coatings and Adhesives, Textile Industry, and Other), and Geography

Acetone Market size was valued at USD 6,832.9 Million in 2023 and is poised to grow at a CAGR of 6.5 % over 2024-2030. The acetone market refers to the economic landscape and activities associated with the production, distribution, and consumption of acetone, a colorless, volatile, and flammable organic compound with the chemical formula (CH?)?CO. Acetone is a key solvent and chemical intermediate that finds extensive use across various industries, including chemicals, pharmaceuticals, cosmetics, and manufacturing. The acetone market is primarily driven by rising demand for polymers and plastics. The increasing demand for plastics and polymers in industries such as automotive, packaging, construction, and electronics drives the need for acetone as a feedstock in the production of compounds like methyl methacrylate (MMA) and bisphenol A (BPA), which are crucial for polymer manufacturing. Moreover, the chemical industry serves as a significant driver for the acetone market due to its extensive use as a versatile solvent, intermediate, and reagent in various industrial processes.

In the production of numerous chemicals, including solvents, paints, varnishes, and pharmaceuticals, acetone is utilized as a key raw material. Acetone's role as a solvent helps dissolve other substances and facilitates chemical reactions, making it a fundamental ingredient in numerous chemical formulations. However, the production and use of acetone are subject to various regulations and standards, including those related to worker safety, environmental protection, and emissions. Compliance with these regulations can add to operational costs and complexities, which pose challenges for the growth of the acetone market. Meanwhile, the growing emphasis on sustainability and environmental consciousness presents an opportunity for acetone manufacturers to explore bio-based production methods, renewable feedstocks, and more environmentally friendly processes. Manufacturers are adopting different strategies to develop innovative solution to cater various end-use industries. For instance, in June 2022, Ineos launched bio-based products for phenol, acetone alphamethylstyrene.

Acetone Market Key Developments:

• In July 2022, exports its first 5,200 tons of bio-balanced phenol and acetone to one of the world’s leading producers of renewable polymers in Germany.
• In March 2022, Evonik launched first renewable isophorone-based products.