Acetone Market by Applications (Bisphenol A, Methyl Methacrylate, Solvents, Methyl Isobutyl Ketone, and Other Applications), End-user Industries (Electronics, Cosmetics and Personal Care, Automotive, Paints, Pharmaceutical, Coatings and Adhesives, Textile Industry, and Other End-user Industries), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for methyl methacrylate and bisphenol-A from various end-user industries is expected to drive the market growth.
- Increasing demand for acetone-based food grade bottles can spur the market growth in the projected timeline.
- Growing use of acrylic glass fiber in the construction industry is estimated to fuel the market growth during the forecast period.
- Inhalation and consumption of acetone may lead to skin irritation in workers, which can inhibit the market growth.
- High flammability and acute toxicity can restrict the market development.
- Growing demand for acetone in the pharmaceutical industry can create lucrative opportunity for market players.
Scope of the Report
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.
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Attributes |
Details |
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Report Title |
Acetone Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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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) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Borealis AG; Formosa Chemicals and Fibre Corporation; Mitsui Chemicals, Inc.; Royal Dutch Shell plc; and INEOS |
Acetone Market Segment Insights
Solvents segment is expected to grow at a rapid pace
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.
Paints segment is projected to expand at a considerable CAGR
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.
Asia Pacific is anticipated to constitute a key market share
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.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Acetone Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Acetone Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Acetone Market - Supply Chain
4.5. Global Acetone Market Forecast
4.5.1. Acetone Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Acetone Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Acetone Market Absolute $ Opportunity
5. Global Acetone Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Acetone Market Size and Volume Forecast by Applications
5.3.1. Bisphenol A
5.3.2. Methyl Methacrylate
5.3.3. Solvents
5.3.4. Methyl Isobutyl Ketone
5.3.5. Other Applications
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Acetone Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Acetone Market Size and Volume Forecast by End Users
6.3.1. Electronics
6.3.2. Cosmetics and Personal Care
6.3.3. Automotive
6.3.4. Paints
6.3.5. Pharmaceutical
6.3.6. Coatings and Adhesives
6.3.7. Textile Industry
6.3.8. Other End-user Indust
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Acetone Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Acetone Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Acetone Demand Share Forecast, 2019-2026
8. North America Acetone Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Acetone Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Acetone Market Size and Volume Forecast by Applications
8.4.1. Bisphenol A
8.4.2. Methyl Methacrylate
8.4.3. Solvents
8.4.4. Methyl Isobutyl Ketone
8.4.5. Other Applications
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Acetone Market Size and Volume Forecast by End Users
8.7.1. Electronics
8.7.2. Cosmetics and Personal Care
8.7.3. Automotive
8.7.4. Paints
8.7.5. Pharmaceutical
8.7.6. Coatings and Adhesives
8.7.7. Textile Industry
8.7.8. Other End-user Indust
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Acetone Demand Share Forecast, 2019-2026
9. Latin America Acetone Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Acetone Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Acetone Market Size and Volume Forecast by Applications
9.4.1. Bisphenol A
9.4.2. Methyl Methacrylate
9.4.3. Solvents
9.4.4. Methyl Isobutyl Ketone
9.4.5. Other Applications
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Acetone Market Size and Volume Forecast by End Users
9.7.1. Electronics
9.7.2. Cosmetics and Personal Care
9.7.3. Automotive
9.7.4. Paints
9.7.5. Pharmaceutical
9.7.6. Coatings and Adhesives
9.7.7. Textile Industry
9.7.8. Other End-user Indust
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Acetone Demand Share Forecast, 2019-2026
10. Europe Acetone Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Acetone Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Acetone Market Size and Volume Forecast by Applications
10.4.1. Bisphenol A
10.4.2. Methyl Methacrylate
10.4.3. Solvents
10.4.4. Methyl Isobutyl Ketone
10.4.5. Other Applications
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Acetone Market Size and Volume Forecast by End Users
10.7.1. Electronics
10.7.2. Cosmetics and Personal Care
10.7.3. Automotive
10.7.4. Paints
10.7.5. Pharmaceutical
10.7.6. Coatings and Adhesives
10.7.7. Textile Industry
10.7.8. Other End-user Indust
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Acetone Demand Share Forecast, 2019-2026
11. Asia Pacific Acetone Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Acetone Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Acetone Market Size and Volume Forecast by Applications
11.4.1. Bisphenol A
11.4.2. Methyl Methacrylate
11.4.3. Solvents
11.4.4. Methyl Isobutyl Ketone
11.4.5. Other Applications
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Acetone Market Size and Volume Forecast by End Users
11.7.1. Electronics
11.7.2. Cosmetics and Personal Care
11.7.3. Automotive
11.7.4. Paints
11.7.5. Pharmaceutical
11.7.6. Coatings and Adhesives
11.7.7. Textile Industry
11.7.8. Other End-user Indust
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Acetone Demand Share Forecast, 2019-2026
12. Middle East & Africa Acetone Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Acetone Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Acetone Market Size and Volume Forecast by Applications
12.4.1. Bisphenol A
12.4.2. Methyl Methacrylate
12.4.3. Solvents
12.4.4. Methyl Isobutyl Ketone
12.4.5. Other Applications
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Acetone Market Size and Volume Forecast by End Users
12.7.1. Electronics
12.7.2. Cosmetics and Personal Care
12.7.3. Automotive
12.7.4. Paints
12.7.5. Pharmaceutical
12.7.6. Coatings and Adhesives
12.7.7. Textile Industry
12.7.8. Other End-user Indust
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Acetone Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Acetone Market: Market Share Analysis
13.2. Acetone Distributors and Customers
13.3. Acetone Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Borealis AG
13.4.2. Formosa Chemicals and Fibre Corporation
13.4.3. Mitsui Chemicals, Inc.
13.4.4. Royal Dutch Shell plc
13.4.5. INEOS
Segments Covered in the Report
The acetone market has been segmented on the basis of
Applications
- Bisphenol A
- Methyl Methacrylate
- Solvents
- Methyl Isobutyl Ketone
- Other Applications
End-user Industries
- Electronics
- Cosmetics and Personal Care
- Automotive
- Paints
- Pharmaceutical
- Coatings and Adhesives
- Textile Industry
- Other End-user Industries
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Borealis AG
- Formosa Chemicals and Fibre Corporation
- Mitsui Chemicals, Inc.
- Royal Dutch Shell plc
- INEOS
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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