Global Acetone Market Size, Production, Sales, Average Product Price, Market Share

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Global Acetone Market Revenue Size and Production Analysis, till 2032

Global Acetone Market Size is expected to grow at an impressive rate during the timeframe (2024-2032). Acetone demand is growing due to

Expanding Use in Pharmaceutical Applications:
Acetone is widely used as a solvent in the pharmaceutical industry, particularly in the production of active pharmaceutical ingredients (APIs), ointments, and creams. The growth of the pharmaceutical sector, driven by increasing healthcare demand and research into new drugs, is boosting acetone consumption.
Rising Demand for Personal Care and Cosmetics:
Acetone is a key ingredient in personal care and cosmetic products, such as nail polish removers, skin cleansers, and makeup. The increasing focus on personal grooming and the growing cosmetic industry, especially in emerging economies, are driving the demand for acetone.
Growth of the Chemical Industry:
Acetone serves as a precursor to several important chemicals, including methyl methacrylate (MMA) and bisphenol A (BPA). MMA is crucial for producing acrylic plastics, while BPA is used in the manufacture of polycarbonate plastics and epoxy resins. The expanding applications of these materials in automotive, electronics, and construction industries are fueling acetone demand.
Increasing Use in Paints and Coatings:
Acetone is a popular solvent in the paints and coatings industry due to its quick evaporation rate and strong dissolving capabilities. The surge in construction activities and the automotive sector is driving the need for paints and coatings, thereby increasing acetone usage.
Demand from Rubber and Plastics Industry:
The rubber and plastics industry relies on acetone for its solvent properties in processes like manufacturing rubber adhesives and plastic components. The rising production of consumer goods and packaging materials is contributing to increased acetone consumption.
Growth in Cleaning and Disinfectant Products:
Acetone’s strong solvent properties make it effective in cleaning and degreasing applications. Its use in household and industrial cleaning products, along with the heightened focus on hygiene and sanitation post-pandemic, is supporting its market growth.
Support from Emerging Markets:
Emerging economies, particularly in Asia-Pacific and Latin America, are witnessing significant industrial growth, urbanization, and increased spending on consumer goods. This is driving the regional demand for acetone in multiple end-use sectors.

United States Acetone Market Trend and Business Opportunities

Market Size and Growth

In 2023, the U.S. acetone market generated approximately USD 942.5 million in revenue and is projected to reach USD 1,509.8 million by 2030, growing at a compound annual growth rate (CAGR) of 7% from 2024 to 2030.

Key Applications Driving Demand

Solvents: Acetone’s primary application is as a solvent in industries such as paints, coatings, and adhesives. In 2023, this segment was the largest revenue generator and is expected to continue leading due to ongoing industrial activities.
Methyl Methacrylate (MMA): Acetone is a precursor in MMA production, which is essential for manufacturing acrylic plastics used in automotive components and construction materials. The growing demand for lightweight and durable materials in these sectors is boosting acetone consumption.
Bisphenol A (BPA): Acetone is utilized in producing BPA, a key ingredient in polycarbonate plastics and epoxy resins. These materials are widely used in electronics, automotive, and construction industries, further driving acetone demand.

Emerging Business Opportunities

Pharmaceuticals and Personal Care: The pharmaceutical industry uses acetone as a solvent in drug formulation, while the personal care sector incorporates it in products like nail polish removers and skin cleansers. The increasing focus on health and personal grooming presents growth opportunities in these markets.
Automotive Industry: The shift towards lightweight vehicles to improve fuel efficiency has led to increased use of polycarbonate plastics derived from acetone. This trend offers opportunities for acetone producers to cater to the automotive sector’s evolving needs.
Construction Sector: The demand for durable and weather-resistant materials in construction is driving the use of MMA and BPA derivatives, thereby increasing acetone consumption. Infrastructure development projects amplify this demand, creating avenues for market expansion.

Regional Insights

The United States accounted for 15.5% of the global acetone market revenue in 2023, indicating its significant role in the global market.

Competitive Landscape

Major players in the U.S. acetone market include Shell PLC, Honeywell International Inc., and INEOS, among others. These companies are focusing on capacity expansions and technological advancements to meet the growing demand.

Europe Acetone Market Trend and Business Opportunities by Country

Market Size and Growth

As of 2023, Europe’s acetone demand stood at approximately 1,870 thousand tonnes and is projected to reach around 2,800 thousand tonnes by 2034, growing at a compound annual growth rate (CAGR) of 4.09%.

Key Applications Driving Demand

Solvents: Acetone is extensively used as a solvent in industries such as paints, coatings, and adhesives. In 2023, the solvent segment accounted for about 45% of the acetone market share in Europe.
Methyl Methacrylate (MMA): Acetone serves as a precursor in MMA production, essential for manufacturing acrylic plastics used in automotive components and construction materials. The growing demand for lightweight and durable materials in these sectors is boosting acetone consumption.
Bisphenol A (BPA): Acetone is utilized in producing BPA, a key ingredient in polycarbonate plastics and epoxy resins. These materials are widely used in electronics, automotive, and construction industries, further driving acetone demand.

Country-Specific Insights

Germany: As the largest consumer of acetone in Western Europe, Germany accounts for approximately 36% of the region’s consumption. The country’s robust automotive and chemical industries significantly contribute to this demand.
Italy: Following Germany, Italy is the second-largest consumer of acetone in Western Europe, driven by its manufacturing and industrial sectors.
France: The chemical industry in France utilizes acetone extensively as a solvent and in the production of various chemicals and pharmaceuticals. The demand is influenced by production needs and research and development activities.
United Kingdom: The U.K. market is expected to showcase a CAGR of 6.6% during the forecast period, with growth driven by applications in solvents, BPA, and MMA.

Emerging Business Opportunities

Pharmaceuticals and Personal Care: The increasing focus on health and personal grooming presents growth opportunities in these markets, with acetone being a key solvent in drug formulation and personal care products.
Automotive Industry: The shift towards lightweight vehicles to improve fuel efficiency has led to increased use of polycarbonate plastics derived from acetone. This trend offers opportunities for acetone producers to cater to the automotive sector’s evolving needs.
Construction Sector: The demand for durable and weather-resistant materials in construction is driving the use of MMA and BPA derivatives, thereby increasing acetone consumption. Infrastructure development projects amplify this demand, creating avenues for market expansion.

Competitive Landscape

Major players in the European acetone market include INEOS Phenol, Advansix, Domo Caproleuma, Cepsa Quimica, Versalis, Borealis Polymers, Novapex, PKN Orlen, Saratovorgsintez, and Ufaorgsintez. INEOS emerges as the leading manufacturer, accounting for over 50% of the total capacity within the region.

Middle East Acetone Market Trend and Business Opportunities by Country

Market Size and Growth

As of 2023, the Middle Eastern acetone market was valued at approximately $83 million, marking a 4.7% increase from the previous year. Despite fluctuations, the market has shown a relatively stable trend over the past decade.

Key Applications Driving Demand

Solvents: Acetone’s ability to dissolve a wide range of substances makes it indispensable in the production of coatings, paints, adhesives, and pharmaceuticals.
Polymer Production: Acetone is crucial in manufacturing polycarbonates, Bisphenol-A (BPA), and epoxy resins, which are extensively used in the automotive, construction, and electronics sectors.

Country-Specific Insights

Saudi Arabia: As the leading exporter of acetone in the region, Saudi Arabia accounted for approximately 99% of total Middle Eastern acetone exports in 2018. The country’s robust petrochemical industry underpins this dominance.
Turkey: In 2018, Turkey was the largest importer of acetone in the Middle East, constituting 58% of the region’s total imports. This significant demand is driven by its diverse industrial applications.

Emerging Business Opportunities

Pharmaceuticals and Personal Care: The growing healthcare and personal care sectors present opportunities for acetone as a solvent in drug formulation and cosmetic products.
Automotive Industry: The increasing demand for lightweight and durable materials in vehicle manufacturing boosts the need for acetone-derived products like polycarbonates.
Construction Sector: Ongoing infrastructure development in the region elevates the demand for acetone-based products used in paints, coatings, and adhesives.

Competitive Landscape

The Middle Eastern acetone market is characterized by a mix of domestic production and imports, with Saudi Arabia playing a pivotal role in both production and export. The region’s strategic position and industrial capabilities offer significant opportunities for market expansion.

Asia Pacific Acetone Market Trend and Business Opportunities by Country

Market Size and Growth

In 2023, the Asia Pacific acetone market generated approximately USD 2,852.3 million in revenue and is projected to reach USD 4,987.2 million by 2030, growing at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2030.

Key Applications Driving Demand

Solvents: Acetone is extensively used as a solvent in industries such as paints, coatings, and adhesives. In 2023, the solvent segment accounted for about 44% of the acetone market share in the Asia Pacific region.
Methyl Methacrylate (MMA): Acetone serves as a precursor in MMA production, essential for manufacturing acrylic plastics used in automotive components and construction materials. The growing demand for lightweight and durable materials in these sectors is boosting acetone consumption.
Bisphenol A (BPA): Acetone is utilized in producing BPA, a key ingredient in polycarbonate plastics and epoxy resins. These materials are widely used in electronics, automotive, and construction industries, further driving acetone demand.

Country-Specific Insights

China: As the largest consumer of acetone in the Asia Pacific, China is expected to further boost product consumption due to growth in its pharmaceutical and electronics sectors.
India: Rapid industrialization and urbanization, along with a growing healthcare sector, are contributing to the rising demand for acetone. The country’s expanding chemical and manufacturing industries further support this trend.
Japan: Japan’s well-established chemical industry drives significant acetone consumption, particularly in the production of chemicals, plastics, pharmaceuticals, and cosmetics.
South Korea: The country’s robust electronics and automotive sectors contribute to the demand for acetone, especially in applications like solvents and polymer production.

Emerging Business Opportunities

Pharmaceuticals and Personal Care: The increasing focus on health and personal grooming presents growth opportunities in these markets, with acetone being a key solvent in drug
Automotive Industry: The shift towards lightweight vehicles to improve fuel efficiency has led to increased use of polycarbonate plastics derived from acetone. This trend offers opportunities for acetone producers to cater to the automotive sector’s evolving needs.
Construction Sector: The demand for durable and weather-resistant materials in construction is driving the use of MMA and BPA derivatives, thereby increasing acetone consumption. Infrastructure development projects amplify this demand, creating avenues for market expansion.

Competitive Landscape

Major players in the Asia Pacific acetone market include Shell PLC, Honeywell International Inc., Mitsui Chemicals Inc., SABIC, Arkema SA, Solvay SA, Domo Inc., Kumho Petrochemical, INEOS, and Cepsa.

Global Acetone Analysis by Market Segmentation

Application Segmentation

Solvents: Acetone is extensively used as a solvent in industries such as paints, coatings, adhesives, and personal care products. This segment held a significant market share due to acetone’s effectiveness in dissolving various substances.
Methyl Methacrylate (MMA): Acetone serves as a precursor in the production of MMA, which is essential for manufacturing acrylic plastics used in automotive components and construction materials.
Bisphenol A (BPA): Acetone is utilized in producing BPA, a key ingredient in polycarbonate plastics and epoxy resins. These materials are widely used in electronics, automotive, and construction industries.

End-Use Industry Segmentation

Cosmetics and Personal Care: Acetone is a common ingredient in products like nail polish removers and skin cleansers, driving demand in this sector.
Pharmaceuticals: The pharmaceutical industry utilizes acetone as a solvent in drug formulation processes.
Paints and Coatings: Acetone’s solvent properties make it valuable in the formulation of paints and coatings, contributing to its demand in this industry.
Automotive: The automotive sector uses acetone-derived products like polycarbonates in manufacturing lightweight and durable vehicle components.
Electronics: Acetone is employed in the electronics industry for cleaning and as a solvent in manufacturing processes.

Grade Segmentation

Technical Grade: This grade is commonly used in industrial applications, including the production of MMA and BPA. It accounted for the largest revenue share in 2024.
Specialty Grade: Utilized in applications requiring higher purity levels, such as pharmaceuticals and cosmetics.

Distribution Channel Segmentation

Manufacturer to End-User: Direct supply of acetone from manufacturers to end-users like chemical companies or manufacturers in various industries, facilitating better pricing and quicker delivery times.
Manufacturer to Distributor to End-User: Manufacturers sell acetone to distributors, who then deliver it to various end-users, managing inventory and providing localized support.

Regional Segmentation

Asia Pacific: The largest consumer of acetone, driven by demand in countries like China, India, and Japan, particularly in the pharmaceutical and electronics sectors.
North America: Experiencing demand from solvent manufacturing companies, with the United States being a major hub for automotive manufacturers.
Europe: Growth is driven by rising demand from sectors like skincare, lifestyle, and cosmetics.
Latin America: Notable growth in the cosmetic and personal care industry, mainly in Brazil, due to increasing demand for such products.
Middle East & Africa: Diverse climates and environmental conditions contribute to varying skincare needs, prompting consumers to seek effective moisturizing solutions.

Acetone Production and Import-Export Scenario

Global Production

Market Volume: In 2022, the worldwide acetone market volume reached approximately 7.10 million metric tons.
Major Producers: Key players in the acetone production industry include:
- INEOS Group Ltd.: Leading in production capacity, INEOS expanded its footprint by acquiring Mitsui Phenols Singapore Pte. Ltd. in H1 2023, adding an annual acetone production capacity of 185,000 tonnes.
- Cepsa Corporation
- Formosa Chemicals and Fibre Corp
- Kumho P&B Chemicals, Inc.

Import-Export Dynamics

Top Exporters (2023):
- Germany: Accounted for 16.5% of global acetone exports, valued at $169 million.
- Saudi Arabia: Contributed 13.7% of exports, totaling $140 million.
- United States: Represented 11.7% of exports, amounting to $120 million.
- Netherlands: Held 11% of the market share, with exports worth $113 million.
- Thailand: Made up 10.3% of exports, valued at $106 million.
Top Importers (2023):
- China: The largest importer, comprising 23% of global imports at $308 million.
- Netherlands: Imported 11.6%, equating to $149 million.
- India: Accounted for 7.29% of imports, totaling $94 million.
- Germany: Held 7% of the import market, with $90 million.
- Belgium: Comprised 4.52% of imports, valued at $58 million.

Trade Flows and Notable Trends

China’s Import Sources:
- Saudi Arabia: Supplied 8.02% of China’s imports, valued at $103 million.
- Thailand: Contributed 6.78%, amounting to $87 million.
India’s Import Sources:
- Other Asia, nes: Provided 2.42% of imports, worth $31 million.
- Thailand: Supplied 2.59%, totaling $33 million.
United States’ Export Destinations:
- Mexico: Received 6.93% of U.S. exports, valued at $70 million.

Market Scenario, Demand vs Supply, Average Product Price, Import vs Export, till 2032

Global Acetone Market revenue and demand by region
Global Acetone Market production and sales volume
Import-export scenario
Average product price
Market player analysis, competitive scenario, market share analysis
Business opportunity analysis

Key questions answered in the Global Acetone Market Analysis Report:

What is the market size for Acetone?
What is the yearly sales volume of Acetone and how is the demand rising?
Who are the top market players by market share, in each product segment?
Which is the fastest growing business/ product segment?
What should be the business strategies and Go to Market strategies?

The report covers Acetone Market revenue, Production, Sales volume, by regions, (further split into countries):

Asia Pacific (China, Japan, South Korea, India, Indonesia, Vietnam, Rest of APAC)
Europe (UK, Germany, France, Italy, Spain, Benelux, Poland, Rest of Europe)
North America (United States, Canada, Mexico)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa

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