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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.
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.
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Acetone Market Analysis
8.1 Key Industry Highlights
8.2 Global Acetone Historical Market (2018-2023)
8.3 Global Acetone Market Forecast (2024-2032)
8.4 Global Acetone Market by Application
8.4.1 Solvents
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Methyl Methacrylate (MMA)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 BPA
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Acetone Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Acetone Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Acetone Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Acetone Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Acetone Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Acetone Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 291411)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Shell Chemicals
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 INEOS Group Holdings S.A.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Cepsa Química, S.A.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 LG Chem
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Honeywell International Inc.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Versalis S.p.A.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Mitsui Chemicals Group
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Formosa Chemicals and Fibre Corporation
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Altivia
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Hindustan Organic Chemicals Limited
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 SI Group, Inc.
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Acetone Market: Key Industry Highlights, 2018 and 2032
2. Global Acetone Historical Market: Breakup by Application (Million Metric Tons), 2018-2023
3. Global Acetone Market Forecast: Breakup by Application (Million Metric Tons), 2024-2032
4. Global Acetone Historical Market: Breakup by Region (Million Metric Tons), 2018-2023
5. Global Acetone Market Forecast: Breakup by Region (Million Metric Tons), 2024-2032
6. North America Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
7. North America Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
8. Europe Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
9. Europe Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
10. Asia Pacific Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
11. Asia Pacific Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
12. Latin America Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
13. Latin America Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
14. Middle East and Africa Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
15. Middle East and Africa Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. North America Historical Price Trends and Forecast 2018-2032
21. Europe Historical Price Trends and Forecast 2018-2032
22. Asia Pacific Historical Price Trends and Forecast 2018-2032
23. Latin America Historical Price Trends and Forecast 2018-2032
24. Middle East and Africa Historical Price Trends and Forecast 2018-2032
25. Global Acetone Market Structure
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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