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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Acetone Market Outlook
The global acetone market reached a volume of nearly 7.73 million metric tons in 2023. The market is projected to grow at a CAGR of 3.4% between 2024 and 2032, supported by the growing demand from key end-use sectors.
Key Takeaways
- Acetone plays a prominent role in the production of Methyl Methacrylate (MMA) and Bisphenol-A (BPA).
- APAC is one of the significant consumers of acetone, supported by the expanding downstream markets in the region.
- Technological advancements are expected to enhance the acetone production efficiency and environmental sustainability.
Acetone refers to a simple organic compound used in the production of bulk pharmaceuticals, agrochemicals, dyestuffs, other explosives, and downstream chemicals. It is the simplest and smallest ketone, with the chemical formula C3H6O. Acetone is known for its ability to dissolve many plastics and synthetic fibres, as well as its use in the formulation of nail polish removers and paint thinners.
The increased use of acetone as a solvent and high demand in the pharmaceutical, cosmetics, and paints and adhesives sectors are the major factors driving the acetone market demand. It is one of the most common solvents used in nail polish removers and cleansers in cosmetics. The product usage is also driven by favourable characteristics, such as low boiling point and miscibility in water as well as usage of acetone in the production of epoxy resins and polycarbonate. Additionally, the market growth is influenced by the growing demand for household cleaning products due to increasing awareness about hygiene among consumers.
Acetone Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate volume of nearly 7.73 million metric tons.
The market is estimated to grow at a CAGR of 3.4% between 2024 and 2032.
The major drivers of the industry, such as the rising disposable incomes, increasing hygiene awareness, rapidly growing cosmetic market, and the growing end-use industries, are expected to aid the market growth.
The key trends aiding the market include the growing applications of acetone in the pharmaceutical sector, the growth of the personal care and cosmetic sectors, advancements in the acetone production process, and regulations guiding the use of acetone.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with the Asia Pacific accounting for the largest share in the market.
Solvents, methyl methacrylate (MMA), and BPA, among others are the leading applications of acetone in the industry.
The major players in the market are Shell Chemicals, INEOS Group Holdings S.A., Cepsa Química, S.A., LG Chem, Honeywell International Inc., Versalis S.p.A., Mitsui Chemicals Group, Formosa Chemicals and Fibre Corporation, Altivia, Hindustan Organic Chemicals Limited, and SI Group, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124