Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Acetone Market size was valued at US$ 6,832.9 million in 2023 and is poised to grow at a CAGR of 6.5 % from 2024-2030. The 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 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 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 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.
Study Period
2024-2030Base Year
2023CAGR
6.5%Largest Market
Asia PacificFastest Growing Market
North America
The growth of the pharmaceutical industry serves as a robust driving force for the market, primarily due to acetone's indispensable role in diverse pharmaceutical applications. With its versatile solvent properties, acetone plays a pivotal role in drug formulation, aiding the dissolution and blending of active pharmaceutical ingredients (APIs) and excipients to create effective drug formulations. It also finds utility in the extraction and purification of natural products used in pharmaceuticals, contributing to the creation of high-quality pharmaceutical compounds. Moreover, the consumer products and cosmetics sector play a pivotal role in propelling the market forward. Its versatile properties make it an essential ingredient in the formulation, production, and enhancement of various consumer goods and cosmetic products such as nail polish removers, skincare, hair care and adhesive and sealant removers.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 6,832.9 million |
Market CAGR |
6.5% |
By Application |
|
By End User |
|
By Region |
|
Download Free Sample Report
The global acetone market size was valued at US$ 6,832.9 Million in 2023 and is poised to grow at a CAGR of 6.5 % from 2024-2030.
The growing pharmaceutical and healthcare sectors and rising research and development activities are some of the factors that create potential opportunities for the growth of the market.
The research into bio-based acetone production and advancement in manufacturing techniques is one of the major trends in the market.
The key players of the market are INEOS, Formosa Chemicals and Fibre Corporation, Borealis AG, Honeywell International Inc, CEPSA Quimica, S.A., Mitsui Chemicals, Inc., Sasol Ltd, SABIC, Altivia Chemicals, Arkema, Kumho P&B Chemicals, Solvay, DOMO Chemicals, Royal Dutch Shell PLC are a few companies operating in acetone market.
1.Executive Summary |
2.Global Acetone Market Introduction |
2.1.Global Acetone Market - Taxonomy |
2.2.Global Acetone Market - Definitions |
2.2.1. Application |
2.2.2.Application |
2.2.3.Region |
3.Global Acetone Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Acetone Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Acetone Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Solvents |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Bisphenol A |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Methyl Methacrylate |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Others |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
6.Global Acetone Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Cosmetics and Personal Care |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Electronics |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Automotive |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Pharmaceutical |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Paints |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Coatings and Adhesives |
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
6.7. Textile Industry |
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.7.3. Market Opportunity Analysis |
6.8. Others |
6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.8.3. Market Opportunity Analysis |
7.Global Acetone Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. North America |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Europe |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Asia Pacific (APAC) |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Middle East and Africa (MEA) |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Latin America |
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
8.North America Acetone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.1.1.Solvents |
8.1.2.Bisphenol A |
8.1.3.Methyl Methacrylate |
8.1.4.Others |
8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.2.1.Cosmetics and Personal Care |
8.2.2.Electronics |
8.2.3.Automotive |
8.2.4.Pharmaceutical |
8.2.5.Paints |
8.2.6.Coatings and Adhesives |
8.2.7.Textile Industry |
8.2.8.Others |
8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.3.1.United States of America (USA) |
8.3.2.Canada |
9.Europe Acetone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Solvents |
9.1.2.Bisphenol A |
9.1.3.Methyl Methacrylate |
9.1.4.Others |
9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Cosmetics and Personal Care |
9.2.2.Electronics |
9.2.3.Automotive |
9.2.4.Pharmaceutical |
9.2.5.Paints |
9.2.6.Coatings and Adhesives |
9.2.7.Textile Industry |
9.2.8.Others |
9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Germany |
9.3.2.France |
9.3.3.Italy |
9.3.4.United Kingdom (UK) |
9.3.5.Spain |
10.Asia Pacific (APAC) Acetone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Solvents |
10.1.2.Bisphenol A |
10.1.3.Methyl Methacrylate |
10.1.4.Others |
10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Cosmetics and Personal Care |
10.2.2.Electronics |
10.2.3.Automotive |
10.2.4.Pharmaceutical |
10.2.5.Paints |
10.2.6.Coatings and Adhesives |
10.2.7.Textile Industry |
10.2.8.Others |
10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.China |
10.3.2.India |
10.3.3.Australia and New Zealand (ANZ) |
10.3.4.Japan |
10.3.5.Rest of APAC |
11.Middle East and Africa (MEA) Acetone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Solvents |
11.1.2.Bisphenol A |
11.1.3.Methyl Methacrylate |
11.1.4.Others |
11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Cosmetics and Personal Care |
11.2.2.Electronics |
11.2.3.Automotive |
11.2.4.Pharmaceutical |
11.2.5.Paints |
11.2.6.Coatings and Adhesives |
11.2.7.Textile Industry |
11.2.8.Others |
11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.GCC Countries |
11.3.2.South Africa |
11.3.3.Rest of MEA |
12.Latin America Acetone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Solvents |
12.1.2.Bisphenol A |
12.1.3.Methyl Methacrylate |
12.1.4.Others |
12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Cosmetics and Personal Care |
12.2.2.Electronics |
12.2.3.Automotive |
12.2.4.Pharmaceutical |
12.2.5.Paints |
12.2.6.Coatings and Adhesives |
12.2.7.Textile Industry |
12.2.8.Others |
12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Brazil |
12.3.2.Mexico |
12.3.3.Rest of LA |
13. Competition Landscape |
13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
13.2.1.INEOS |
13.2.2.Formosa Chemicals and Fibre Corporation |
13.2.3.Borealis AG |
13.2.4.Honeywell International Inc |
13.2.5.CEPSA Quimica, S.A. |
13.2.6.Mitsui Chemicals, Inc. |
13.2.7.Sasol Ltd |
13.2.8.SABIC |
13.2.9.Altivia Chemicals |
13.2.10.Arkema |
13.2.11.Kumho P&B Chemicals |
13.2.12.Solvay |
13.2.13.DOMO Chemicals |
13.2.14.Royal Dutch Shell PLC |
14. Research Methodology |
15. Appendix and Abbreviations |
Key Market Players