The global acetone market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for acetone derived polycarbonate from the automobile industry.
Acetone is part of aliphatic ketones class. The development of acetone includes reaction of benzene alkylate with propylene that produces cumenes, which is then oxidized with the help of air to create acetone and phenol as a by-product. Generally, phenol plants are integrated with acetone. It is used as solvents for oils, fats, waxes, rubber, resins, plastics, varnishes, lacquers, and rubber cement. Moreover, it is also used as an intermediate in the production of methyl methacrylate, bisphenol A, and methyl isobutyl ketone.
Acetone is a colorless, odourless, and volatile liquid with sweet odour. Acetone occurs naturally in the environment. It is also found in body but in less amount. The body produces acetone when it burns fat for energy instead of glucose. Exposure to acetone leads to nose, skin or eye irritation and the swallowing can lead to series poisoning.
The report on the global acetone market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Acetone Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Applications (Bisphenol A, Methyl Methacrylate, Solvents, Methyl Isobutyl Ketone, and Other Applications), End-user Industry (Electronics, Cosmetics and Personal Care, Automotive, Paints, Pharmaceutical, Coatings and Adhesives, Textile Industry, and Other End-user Industries) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Borealis AG; Formosa Chemicals and Fibre Corporation; Mitsui Chemicals, Inc.; Royal Dutch Shell plc; and INEOS |
Based on applications, the acetone market is divided into bisphenol A, methyl methacrylate, solvents, methyl isobutyl ketone, and other applications. The solvent segment is expected to grow at a rapid pace during the forecast period. Increasing demand for solvents from various industries such as pharmaceuticals, refining, petrochemicals, construction, glass, paints & coating, personal care, and cosmetics is anticipated to drive the growth of the market segment.
On the basis of end user industries, the market is segregated into electronics, cosmetics and personal care, automotive, paints, pharmaceutical, coatings and adhesives, textile industry, and other end-user industries. The paints segment is projected to expand at a considerable CAGR during the forecast period. Acetone-based paints dry ten times faster than normal paints. Thus, growing awareness about its benefits is expected to foster the growth of the segment.
In terms of regions, the acetone market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period. The growth of the market in the region is attributed to easy availability of raw materials and cheap labor in countries such as India and China. Increasing disposable income leads costumers to spend more on cosmetic and skin care products, propelling the growth of the market in Asia Pacific.
Segments Covered in the Report
The acetone market has been segmented on the basis of
Applications
End-user Industries
Regions
Key Players
Key players competing in the acetone market are Borealis AG; Formosa Chemicals and Fibre Corporation; Mitsui Chemicals, Inc.; Royal Dutch Shell plc; and INEOS.
Some of major players are focusing on the development of highly advanced bio-based acetone while others are striving to set up plants near raw material sources.
Segments Covered in the Report
The acetone market has been segmented on the basis of
Applications
End-user Industries
Regions
Key Players
Key players competing in the acetone market are Borealis AG; Formosa Chemicals and Fibre Corporation; Mitsui Chemicals, Inc.; Royal Dutch Shell plc; and INEOS.
Some of major players are focusing on the development of highly advanced bio-based acetone while others are striving to set up plants near raw material sources.
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