Acetone Market Size, Share, Growth, Trends, Industry Analysis & Forecast

Global Acetone Market Size, Share, Growth, Industry Trends, Competitive Analysis and Forecast to 2030

Report ID: RC148 | Report Format: PDF + Excel | Starting Price: 3600/- USD | Last Updated: July 6th, 2023

The global acetone market size is accounted to grow at a significant CAGR of over 5% during the forecast period 2021 to 2027. The increasing use of acetone in the pharmaceuticals and chemical industry is a primary factor to drive the market growth. Furthermore, the growing use in the production of household and personal care products is another factor to propel the market. The increasing use of acetone in various applications such as electronics, construction, automotive, agriculture, etc. is projected to boost the market over the forecast period. However, the hazardous properties of acetone are expected to restrain the market in the next upcoming years.

Market Snapshot:

Benchmark Year		2022
Market Size
Market Growth (CAGR)		> 5% (2023-2030)
Largest Market Share
Analysis Period		2020-2030
Market Players		INEOS, LyondellBasell Industries, Honeywell Chemicals, Royal Dutch Shell plc, and Dow Chemical Company

Market Drivers:

Industrial Applications: Acetone is a versatile chemical widely used in various industries. It is primarily used as a solvent in industries such as pharmaceuticals, cosmetics, paints and coatings, plastics, and textiles. Acetone’s ability to dissolve a wide range of substances makes it valuable for formulation, processing, and cleaning purposes in these industries, driving its market demand.

Increasing Demand for Polycarbonates and Plastics: Acetone is a key raw material in the production of polycarbonates and various plastics, including bisphenol-A (BPA), methyl methacrylate (MMA), and polyurethanes. The growing demand for these plastics in automotive, construction, electronics, and consumer goods industries contributes to the demand for acetone.

Growing Demand in the Chemical Industry: The chemical industry utilizes acetone as an intermediate in the manufacturing of various chemicals and chemical compounds. It is used as a precursor in the production of methyl isobutyl ketone (MIBK), methyl isobutyl carbinol (MIBC), isophorone, and other chemicals. The expansion of the chemical industry drives the demand for acetone.

Solvent and Cleaning Applications: Acetone is widely used as a solvent for paints, varnishes, adhesives, and other coatings. It effectively dissolves and removes these substances from surfaces. Acetone’s solvent properties, coupled with its rapid evaporation rate, make it a preferred choice for cleaning and degreasing applications in industries such as automotive, electronics, and manufacturing.

Demand in Personal Care and Cosmetics Industry: Acetone is utilized in personal care and cosmetics products, primarily as a nail polish remover. It effectively removes nail polish and other coatings from nails. The growing demand for nail care products, nail art, and manicure services drives the demand for acetone in the personal care and cosmetics industry.

Medical and Healthcare Applications: Acetone finds applications in medical and healthcare sectors. It is used as a solvent in laboratories for the preparation and analysis of samples. Acetone is also used in medical devices, such as glucometers, for the testing of blood glucose levels. The demand for acetone in medical and healthcare applications contributes to its market growth.

Favorable Properties and Versatility: Acetone possesses favorable properties such as low viscosity, low boiling point, and high solvency power. These properties make it a versatile chemical with a wide range of applications. The versatility and favorable properties of acetone make it a preferred choice in various industries, supporting its market demand.

Economic Growth and Industrialization: Economic growth, industrialization, and urbanization are factors that drive the demand for chemicals, including acetone. As economies develop, there is an increased need for products in industries such as automotive, construction, consumer goods, and healthcare. The growth of these sectors contributes to the demand for acetone.

Market Insights:

The global acetone market is bifurcated into the application, end-use industry, and geography. By application, the market is further segmented into methyl methacrylate, bisphenol A, solvents, and other applications. The solvent segment holds a significant market share in 2020 and accounted for around 34% of the market share in terms of revenue. The segment growth is attributed to the increasing use of acetone in cleaning products, paint thinner, nail polish remover, etc, which is further expected to grow the segment at a significant growth rate over the forecast period. Furthermore, the demand for acetone is increasing in the personal care industry due to its wide use in hair care products, fragrance formulation, and cleansers.

By end-use industry, the acetone market is classified by automotive, personal care & cosmetics, pharmaceuticals, construction, and others. The automotive segment is accounted for witness significant growth over the forecast period. The increasing polycarbonate demand for automotive lighting applications is projected to uplift the segment growth. Furthermore, the increasing demand for lightweight automobiles for better performance and low emission is increasing the demand for polycarbonate in the automotive industry, which is driving the segment growth.

The acetone comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2020 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

Global acetone market size and forecast were obtained by using “Bottom-up” and “Top-down” approaches. Extensive secondary research was conducted to understand the market insights and trends, followed by primary interviews to further validate the information sourced. The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions.

The acetone market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Market Segmentation:

By Application:

Methyl Methacrylate (MMA)
Bisphenol A (BPA)
Solvents
Others

By End-Use Industry:

Pharmaceutical
Paints, Coatings, and Adhesives
Automotive
Cosmetics and Personal Care
Electronics
Construction
Agricultural Chemicals
Other End-user Industries

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Geographic Coverage:

Geographically, the acetone market report comprises dedicated sections centering on the regional market revenue and trends. The acetone market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The acetone market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Acetone market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2020 – 2027.

Competition Assessment:

Key players operating in the global acetone market are INEOS, LyondellBasell Industries, Honeywell Chemicals, Royal Dutch Shell plc, and Dow Chemical Company. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

INEOS
LyondellBasell Industries
Honeywell Chemicals
Royal Dutch Shell plc
Dow Chemical Company
Cepsa, Mitsui Chemicals, Inc.
Altivia
LCY GROUP
Formosa Chemicals & Fiber Corporation
Prasol Chemicals Pvt. Ltd.
EMCO Limited

Key Questions Answered by Acetone Market Report:

Global acetone market forecasts from 2021-2027
Regional acetone market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
Acetone submarket forecasts from 2021-2027 covering the market by application, by end-use industry, and geography
Various industry models such as SWOT analysis, Value Chain Analysis pertaining to acetone market
Analysis of the key factors driving and restraining the growth of the global, regional and country-level acetone markets from 2021-2027
Competitive Landscape and market positioning of top 10 players operating in the acetone market

Table of Content:

1. Preface

1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

2. Executive Summary
2.1. Global Acetone Market Portraiture
2.2. Global Acetone Market, by Application, 2020 (USD Mn)
2.3. Global Acetone Market, by End-Use Industry, 2020 (USD Mn)
2.4. Global Acetone Market, by Geography, 2020 (USD Mn)

3. Global Acetone Market Analysis
3.1. Acetone Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis

4. Global Acetone Market By Application, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. Methyl Methacrylate (MMA)
4.3. Bisphenol A (BPA)
4.4. Solvents
4.5. Other Applications

5. Global Acetone Market By End-Use Industry, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Pharmaceutical
5.3. Paints, Coatings, and Adhesives
5.4. Automotive
5.5. Cosmetics and Personal Care
5.6. Electronics
5.7. Construction
5.8. Agricultural Chemicals
5.9. Other End-user Industries

6. Global Acetone Market, By Geography, 2018 – 2027 (USD Mn)
6.1. Introduction
6.2. North America
6.2.1. Overview
6.2.2. North America Acetone Market by Application (2018-2027 USD Mn)
6.2.3. North America Acetone Market by End-Use Industry (2018-2027 USD Mn)
6.2.4. North America Acetone Market by Country (2018-2027 USD Mn)
6.2.4.1. U.S.
6.2.4.2. Canada
6.3. Europe
6.3.1. Overview
6.3.2. Europe Acetone Market by Application (2018-2027 USD Mn)
6.3.3. Europe Acetone Market by End-Use Industry (2018-2027 USD Mn)
6.3.4. Europe Acetone Market by Country (2018-2027 USD Mn)
6.3.4.1. Germany
6.3.4.2. U.K.
6.3.4.3. France
6.3.4.4. Italy
6.3.4.5. Rest of Europe
6.4. Asia Pacific
6.4.1. Overview
6.4.2. Asia Pacific Acetone Market by Application (2018-2027 USD Mn)
6.4.3. Asia Pacific Acetone Market by End-Use Industry (2018-2027 USD Mn)
6.4.4. Asia Pacific Acetone Market by Country (2018-2027 USD Mn)
6.4.4.1. China.
6.4.4.2. Japan
6.4.4.3. Rest of Asia Pacific
6.5. Latin America (LATAM)
6.5.1. Overview
6.5.2. Latin America Acetone Market by Application (2018-2027 USD Mn)
6.5.3. Latin America Acetone Market by End-Use Industry (2018-2027 USD Mn)
6.5.4. Latin America Acetone Market by Country (2018-2027 USD Mn)
6.5.4.1. Brazil
6.5.4.2. Mexico
6.5.4.3. Rest of Latin America
6.6. Middle East and Africa
6.6.1. Overview
6.6.2. MEA Acetone Market by Application (2018-2027 USD Mn)
6.6.3. MEA Acetone Market by End-Use Industry (2018-2027 USD Mn)
6.6.4. Middle East and Africa Acetone Market, by Country (2018-2027 USD Mn)
6.6.4.1. GCC
6.6.4.2. Rest of MEA

7. Company Profiles
7.1. INEOS
7.1.1. Business Description
7.1.2. Financial Health and Budget Allocation
7.1.3. Product Positions/Portfolio
7.1.4. Recent Development
7.1.5. SWOT Analysis
7.2. LyondellBasell Industries
7.2.1. Business Description
7.2.2. Financial Health and Budget Allocation
7.2.3. Product Positions/Portfolio
7.2.4. Recent Development
7.2.5. SWOT Analysis
7.3. Honeywell Chemicals
7.3.1. Business Description
7.3.2. Financial Health and Budget Allocation
7.3.3. Product Positions/Portfolio
7.3.4. Recent Development
7.3.5. SWOT Analysis
7.4. Royal Dutch Shell plc
7.4.1. Business Description
7.4.2. Financial Health and Budget Allocation
7.4.3. Product Positions/Portfolio
7.4.4. Recent Development
7.4.5. SWOT Analysis
7.5. Dow Chemical Company
7.5.1. Business Description
7.5.2. Financial Health and Budget Allocation
7.5.3. Product Positions/Portfolio
7.5.4. Recent Development
7.5.5. SWOT Analysis
7.6. Cepsa, Mitsui Chemicals, Inc.
7.6.1. Business Description
7.6.2. Financial Health and Budget Allocation
7.6.3. Product Positions/Portfolio
7.6.4. Recent Development
7.6.5. SWOT Analysis
7.7. Altivia
7.7.1. Business Description
7.7.2. Financial Health and Budget Allocation
7.7.3. Product Positions/Portfolio
7.7.4. Recent Development
7.7.5. SWOT Analysis
7.8. LCY GROUP
7.8.1. Business Description
7.8.2. Financial Health and Budget Allocation
7.8.3. Product Positions/Portfolio
7.8.4. Recent Development
7.8.5. SWOT Analysis
7.9. Formosa Chemicals & Fiber Corporation
7.9.1. Business Description
7.9.2. Financial Health and Budget Allocation
7.9.3. Product Positions/Portfolio
7.9.4. Recent Development
7.9.5. SWOT Analysis
7.10. Prasol Chemicals Pvt. Ltd.
7.10.1. Business Description
7.10.2. Financial Health and Budget Allocation
7.10.3. Product Positions/Portfolio
7.10.4. Recent Development
7.10.5. SWOT Analysis
7.11. EMCO Limited
7.11.1. Business Description
7.11.2. Financial Health and Budget Allocation
7.11.3. Product Positions/Portfolio
7.11.4. Recent Development
7.11.5. SWOT Analysis

List of Tables:

TABLE 1 Market Snapshot: Global Acetone Market

TABLE 2 Impact Indicators

TABLE 3 Impact Analysis of Drivers and Challenges

TABLE 4 Global Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 5 Global Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 6 North America Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 7 North America Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 8 North America Acetone Market Value, By Country, 2018 - 2027 (US$ Mn)

TABLE 9 U.S. Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 10 U.S. Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 11 Canada Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 12 Canada Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 13 Europe Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 14 Europe Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 15 Europe Acetone Market Value, by Country, 2018 - 2027 (US$ Mn)

TABLE 16 Germany Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 17 Germany Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 18 U.K. Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 19 U.K. Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 20 France Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 21 France Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 22 Italy Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 23 Italy Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 24 Rest of Europe Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 25 Rest of Europe Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 26 Asia Pacific Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 27 Asia Pacific Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 28 Asia Pacific Acetone Market Value, by Country, 2018 - 2027 (US$ Mn)

TABLE 29 Japan Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 30 Japan Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 31 China Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 32 China Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 33 Rest of Asia Pacific Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 34 Rest of Asia Pacific Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 35 Latin America Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 36 Latin America Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 37 Latin America Acetone Market Value, by Country, 2018 - 2027 (US$ Mn)

TABLE 38 Brazil Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 39 Brazil Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 40 Mexico Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 41 Mexico Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 42 Rest of Latin America Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 43 Rest of Latin America Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 44 Middle East & Africa Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 45 Middle East & Africa Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 46 Middle East & Africa Acetone Market Value, by Country, 2018 - 2027 (US$ Mn)

TABLE 47 GCC Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 48 GCC Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 49 Rest of MEA Acetone Market Value, by Application, 2018 - 2027 (US$ Mn)

TABLE 50 Rest of MEA Acetone Market Value, by End-Use Industry, 2018 - 2027 (US$ Mn)

TABLE 51 INEOS: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 52 LyondellBasell Industries: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 53 Honeywell Chemicals: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 54 Royal Dutch Shell plc: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 55 Dow Chemical Company: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 56 Cepsa, Mitsui Chemicals, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 57 Altivia: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 58 LCY GROUP: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 59 Formosa Chemicals & Fiber Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 60 Prasol Chemicals Pvt. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

TABLE 61 EMCO Limited: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

List of Figures:

FIG. 1 Global Acetone: Market Segmentation

FIG. 2 Global Acetone Market: Research Methodology

FIG. 3 Top-Down and Bottom-up Approach

FIG. 4 Global Acetone Market, by Application, 2019 (US$ Mn)

FIG. 5 Global Acetone Market, by End-Use Industry, 2019 (US$ Mn)

FIG. 6 Global Acetone Market, by Geography, 2019 (US$ Mn)

FIG. 7 Global Acetone Market Value and Growth, 2018 – 2027, (US$ Mn) (Y-o-Y %)

FIG. 8 Attractive Investment Proposition, by Geography, 2017

FIG. 9 Market Positioning of Key Acetone Providers, 2019

FIG. 10 Global Acetone Market Value Share, by Application, 2018 & 2027 (Value %)

FIG. 11 Global Acetone Market Value for Methyl Methacrylate (MMA), 2018 - 2027 (US$ Mn)

FIG. 12 Global Acetone Market Value for Bisphenol A (BPA), 2018 - 2027 (US$ Mn)

FIG. 13 Global Acetone Market Value for Solvents, 2018 - 2027 (US$ Mn)

FIG. 14 Global Acetone Market Value for Other Applications, 2018 - 2027 (US$ Mn)

FIG. 15 Global Acetone Market Value Share, by End-Use Industry, 2018 & 2027 (Value %)

FIG. 16 Global Acetone Market Value for Pharmaceutical, 2018 - 2027 (US$ Mn)

FIG. 17 Global Acetone Market Value for Paints, Coatings, and Adhesives, 2018 - 2027 (US$ Mn)

FIG. 18 Global Acetone Market Value for Automotive, 2018 - 2027 (US$ Mn)

FIG. 19 Global Acetone Market Value for Cosmetics and Personal Care, 2018 - 2027 (US$ Mn)

FIG. 20 Global Acetone Market Value for Electronics, 2018 - 2027 (US$ Mn)

FIG. 21 Global Acetone Market Value for Construction, 2018 - 2027 (US$ Mn)

FIG. 22 Global Acetone Market Value for Agricultural Chemicals, 2018 - 2027 (US$ Mn)

FIG. 23 Global Acetone Market Value for Other End-user Industries, 2018 - 2027 (US$ Mn)

FIG. 24 North America Acetone Market Value, 2018 - 2027, (US$ Mn)

FIG. 25 Europe Acetone Market Value, 2018 - 2027, (US$ Mn)

FIG. 26 Asia Pacific Acetone Market Value, 2018 - 2027, (US$ Mn)

FIG. 27 LATIN America Acetone Market Value, 2018 - 2027, (US$ Mn)

FIG. 28 Middle East & Africa Acetone Market Value, 2018 - 2027, (US$ Mn)

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