Acetone Market: By Application, By End-Use Industry, and Geography

Acetone Market Size, Share, Growth, Trends, and Global Industry Analysis: 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 Region

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.

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.

Acetone Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.5%

Largest Market

  Asia Pacific

Fastest Growing Market

North America

Acetone Market Dynamics

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.

Acetone Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 6,832.9 million

Market CAGR

6.5%

By Application

  • Solvents
  • Bisphenol A
  • Methyl Methacrylate
  • Others

By End User

  • Cosmetics and Personal Care
  • Electronics
  • Automotive
  • Pharmaceutical
  • Paints
  • Coatings and Adhesives
  • Textile Industry
  • Others

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Key Features of the Report

  • The acetone market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

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.

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Author

Prem Kumar

Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....

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

  • 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

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