Acetone Market Size (2024 - 2029)

The acetone market is anticipated to experience growth over the forecast period, driven by its expanding use in personal care and household products, as well as its application in the electronics industry and polycarbonate production, particularly in the Asia-Pacific region. Despite challenges posed by the COVID-19 pandemic and regulatory constraints, the market's expansion is supported by new opportunities in dermatological applications. The Asia-Pacific region is expected to maintain its dominance due to rising consumption in countries like China and India.

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Market Size of Acetone Industry

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Acetone Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Acetone Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Acetone Market Analysis

The acetone market is projected to register a CAGR greater than 3% during the forecast period.

The acetone market is negatively impacted by the COVID-19 pandemic. The global pandemic hindered the major end-user industries of acetone, such as automotive, paints and coatings, cosmetics, and personal care. However, the demand is expected to increase during the forecast period.

  • In the medium term, the major factors driving the acetone market are growing usage in the production of personal care and household products, the growing electronics industry in Asia-Pacific, and increasing demand for polycarbonate products.
  • On the flip side, increasing production of methyl methacrylate from non-acetone raw materials and increasing regulations by the European Commission on BPA is expected to hinder the market's growth.
  • The rising adoption of acetone by dermatologists will offer new growth opportunities to the overall industry growth in the coming years.
  • The Asia-Pacific region has dominated the market and is expected to dominate during the forecast period due to the increasing consumption from countries such as China and India.

Acetone Industry Segmentation

Acetone, also known as dimethyl ketone or propanone, is a highly volatile, colorless, and flammable liquid with the chemical formula (CH3)2CO. It is the smallest and simplest ketone that is regularly used for cleaning in households, commercial operations, and laboratories. The market is segmented into application, end-user industry, and geography. By application, the market is segmented into methyl methacrylate, bisphenol A, solvents, methyl isobutyl ketone, and other applications. By end-user industry, the market is segmented into cosmetics and personal care, electronics, automotive, pharmaceutical, paints, coatings and adhesives, textile industry, and other end-user industries. The report also covers the market size and forecasts for the acetone market in 15 countries across major regions. The market sizing and forecasts for each segment have been done based on volume (kilo tons).

Application
Methyl Methacrylate (MMA)
Bisphenol A (BPA)
Solvents
Methyl Isobutyl Ketone
Other Applications (Chemical Intermediates)
End-user Industry
Cosmetics and Personal Care
Electronics
Automotive
Pharmaceutical
Paints, Coatings, and Adhesives
Textile Industry
Other End-user Industries (Plastics)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Acetone Market Size Summary

The acetone market is poised for growth, driven by increasing demand in various sectors such as personal care, electronics, and polycarbonate production. Despite the initial setbacks caused by the COVID-19 pandemic, which affected key industries like automotive and cosmetics, the market is expected to recover and expand. The Asia-Pacific region, particularly China and India, is anticipated to lead this growth due to rising consumption in construction, personal care, and electronics. However, challenges such as the production of methyl methacrylate from non-acetone raw materials and regulatory pressures in Europe could impede progress. The market's fragmentation is characterized by the presence of both global and local players, with significant contributions from companies like Formosa Chemicals and Fibre Corporation, Mitsui Chemicals Inc., INEOS, Borealis AG, and Shell PLC.

The demand for acetone is further bolstered by its application in methyl methacrylate, a key component in various industries including automotive and construction. The infrastructure development in countries like the United States and India, along with the expansion of the paints and coatings industry in China, is expected to drive the demand for acetone. China's position as a major consumer is reinforced by its large electronics production base and ongoing investments to reduce import dependency. The market dynamics are supported by strategic expansions and technological advancements, such as those announced by LG Chem and Honeywell, which aim to enhance production capacities and meet the growing global demand for acetone.

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Acetone Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Usage in the Production of Personal Care and Household Products

      2. 1.1.2 Growing Electronics Industry in Asia-Pacific

      3. 1.1.3 Increasing Demand for Polycarbonate Products

    2. 1.2 Restraints

      1. 1.2.1 Increasing Regulations by the European Commission on BPA

      2. 1.2.2 Increasing Production of Methyl Methacrylate from Non-acetone Raw Materials

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter Five Forces

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Production Capacity Analysis

    6. 1.6 Trade Analysis

    7. 1.7 Regulatory Policies

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Methyl Methacrylate (MMA)

      2. 2.1.2 Bisphenol A (BPA)

      3. 2.1.3 Solvents

      4. 2.1.4 Methyl Isobutyl Ketone

      5. 2.1.5 Other Applications (Chemical Intermediates)

    2. 2.2 End-user Industry

      1. 2.2.1 Cosmetics and Personal Care

      2. 2.2.2 Electronics

      3. 2.2.3 Automotive

      4. 2.2.4 Pharmaceutical

      5. 2.2.5 Paints, Coatings, and Adhesives

      6. 2.2.6 Textile Industry

      7. 2.2.7 Other End-user Industries (Plastics)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Acetone Market Size FAQs

The Acetone Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Formosa Chemicals and Fibre Corporation, Mitsui Chemicals, Inc., INEOS, Borealis AG and Shell Plc are the major companies operating in the Acetone Market.

Acetone Market Report Snapshots

Acetone Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)