Global Acetone Market Report and Forecast 2024-2032

Competitive Landscape

The market players are making efforts to increase acetone production capacity to meet its growing demand and are also focusing on developing sustainable production methods, offering products with eco-friendly certification

Shell Chemicals, a subsidiary of Royal Dutch Shell, is an energy-producing company. It specialises in the production of chemicals used in plastic, solvents, and industrial products, among others.

INEOS Group Holdings S.A, based in Switzerland, is a petrochemical and speciality chemical provider. The company offers a diverse range of chemical products for various end-use sectors.

Cepsa Química, S.A. is an energy and petrochemical company, based in Spain. It mainly offers chemicals and their derivatives for multiple industrial applications.

Deepak Phenolics Limited, a subsidiary of Deepak Nitrite Limited, which is a leading producer of acetone and phenol, has gained the ISO certification, making it a socially responsible company.

Several market players stand committed to lowering greenhouse gas emissions in the production of chemicals, aiming to balance emissions with an equivalent amount of carbon removal from the atmosphere. This includes shifting to renewable energy sources like solar, wind, or hydroelectric power to run their operations, instead of relying on fossil fuels, and using raw materials that are more sustainable, possibly including bio-based or recycled sources, to produce chemicals like acetone. In July 2022, Shell Chemicals Park Moerdijk announced that it is transitioning towards a net-zero emission production facility for manufacturing sustainable chemicals.

As per the acetone market analysis, the Asia Pacific accounts for almost 46% of the global share, followed by the European Union and North America. China, one of the significant regions in the Asia Pacific, is the centre of acetone production. China is also a significant importer of acetone, importing majorly from countries including Taiwan, Thailand, and South Korea, among others. International manufacturers have shifted their manufacturing units to the region due to affordable infrastructure and labour costs.

The emerging economies, growing industrialisation, and rising purchasing power are expected to continue contributing to the demand for chemicals from regional end-use sectors. China is expected to be a leading consumer and manufacturer of acetone and is anticipated to continue its dominance owing to its increasing consumption as a solvent.

Europe follows the Asia Pacific and it is one of the largest exporters of acetone globally, exporting to countries like Turkey, China, India, and the United States. The acetone market demand in Europe is also supported by the region’s rapidly growing cosmetic market, which uses acetone in regulated measures. The region is expected to witness an increased demand for chemicals with eco-friendly certification, encouraging manufacturers to improve sustainability of the entire production process as per regional standards or in accordance with the EU’s Renewable Energy Directive (EU RED).

Acetone Market Report Snapshots

Acetone Market Size

Acetone Companies