As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The global acetone market demand reached a volume of nearly 7 million metric tons in 2020. The demand is estimated to grow at a CAGR of 3.4% in the forecast period of 2021-2026 to reach a volume of around 8.6 million metric tons by 2026.
The most prominent regions for sourcing acetone include South Korea, Singapore, and South Africa. These regions account for nearly 90% of the total imports globally.
Get a Free Sample Report with Table of Content - Download Now
The Asia Pacific is the largest acetone market, accounting for almost 46% of the global share, followed by the European Union and North America. China, one of the significant regions in the Asia Pacific, is the centre of acetone production. China is also a significant importer of acetone, importing majorly from countries including Taiwan, Thailand, and South Korea, among others. The other countries that import acetone to the Asia Pacific include the Unites States and Belgium. However, the import and export rates in the Asia Pacific witnessed a fall in 2018 due to rising domestic demand from construction and automobiles industries. India, another major country in the Asia Pacific region, has imposed ADD (Anti-Dumping Duties) in 2016 for five years. The duties were introduced as a measure to protect the domestic industry of acetone, which was being harmed due to excess imports from other regions. The local industry players who requested these anti-dumping duties included Hindustan Organic Chemicals Ltd. (HOC) and Schenectady Herdillia Ltd. (SI Ltd.).
Europe follows the Asia Pacific in terms of the largest acetone market. It is the largest exporter of acetone globally, significantly exporting to countries like Turkey, China, India, and the United States. Europe’s acetone market is also supported by its rapidly growing cosmetic market, which uses acetone in regulated measures. The demand meets the acetone supply in the region, and thus, the region is self-sufficient in terms of acetone. North America is also one of the significant acetone exporters, exporting majorly to Latin America and China, among other regions. Like China, North America also imports acetone from South Korea, South Africa, and Singapore.
Acetone refers to a simple organic compound used in the production of bulk pharmaceuticals, agrochemicals, dyestuffs, other explosives, and downstream chemicals. It also has wide applications in the manufacturing of rubber chemicals. It has wide applications in the following:
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The acetone market is majorly driven by the growing end-use industries, which include BPA and MMA, especially in the developing regions like India and China. BPA is used as sealants or fillings in dental practices, whereas MMA is widely used in the construction industry. Both pharmaceuticals and construction industries are growing at a rapid rate and are likely to witness faster growth in the coming years. Moreover, increasing construction in the United States is also propelling the acetone market growth. The construction industry is majorly boosting the demand growth for acetone. Acetone also has applications in the automobiles industry, which is growing at a fast pace.
The growing cosmetic industry also supports the acetone market growth. The growth of the cosmetics industry in the emerging regions of the Asia Pacific is expected to aid the industry growth further. Acetone is also widely used in the production of epoxy resins as well as polycarbonate. The increasing markets of both these products are likely to support the demand growth of acetone in the coming years.
The acetone market growth is also driven by the growing market for household cleaning products. The demand is driven by the increasing awareness about hygiene among consumers, especially the younger generation. The demand for phenol is increasing, especially in the Asia Pacific region, which is further aiding the growth of the acetone market. The growth is also aided by the rising disposable income of the population.
August 2020- Dow has reached an agreement with Texas-based Altivia Ketones & Additives to sell its acetone derivatives business to its affiliate Altivia Petrochemicals.
The report gives a detailed analysis of the following key players in the global acetone market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the acetone market based on the Porter’s five forces model along with giving a SWOT analysis.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Acetone Market Analysis
6.1 Figure: Global Acetone Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Acetone Market Breakup by Application
6.2.2 Methyl Methacrylate (MMA)
6.3 Figure: Global Acetone Market Breakup by Application: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.2 Methyl Methacrylate (MMA)
6.4 Chart: Global Acetone Market Breakup by Region:
6.4.1 North America
22.214.171.124 United States of America
126.96.36.199 United Kingdom
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 United Arab Emirates
220.127.116.11 South Africa
6.5 Figure: Global Acetone Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.1 North America
18.104.22.168 United States of America
22.214.171.124 United Kingdom
6.5.3 Asia Pacific
6.5.4 Latin America
6.5.5 Middle East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
7 Global Acetone Price Analysis
7.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
8 Global Acetone Trade Data Analysis (HS Code: 291411)
8.1 Major Exporting Countries: By Value and Volume
8.2 Major Importing Countries: By Value and Volume
9 SWOT Analysis
10 Porter’s Five Forces Analysis
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
11 Value Chain Analysis
12 EMR’s Key Indicators for Demand
13 EMR’s Key Indicators for Price
14 Procurement Strategy
14.1 Sourcing Model
14.2 Contract Terms
14.3 Pricing Model
14.4 Advantage and Disadvantage
15 Cost Analysis
15.1 Raw Material Cost
15.2 Utility Cost
15.3 Labour Cost
16 Competitive Landscape & Supplier Analysis
16.1 INEOS Phenol
16.1.1 Company Overview
16.1.2 Financial Analysis
16.2 Sinopec Corporation
16.2.1 Company Overview
16.2.2 Financial Analysis
16.3.1 Company Overview
16.3.2 Financial Analysis
16.4 Mitsui Chemicals Group
16.4.1 Company Overview
16.4.2 Financial Analysis
16.5 LG Chem, Ltd.
16.5.1 Company Overview
16.5.2 Financial Analysis
16.6 Formosa Chemicals & Fibre Corp
16.6.1 Company Overview
16.6.2 Financial Analysis
16.7 Shell Chemical
16.7.1 Company Overview
16.7.2 Financial Analysis
16.8 Honeywell International Inc.
16.8.1 Company Overview
16.8.2 Financial Analysis
16.9 Versalis S.p.A.
16.9.1 Company Overview
16.9.2 Financial Analysis
16.10 Dow Chemical Company
16.10.1 Company Overview
16.10.2 Financial Analysis
17 Industry Events and Developments
Additional Customisations Available:
18 Manufacturing Process
18.1 Detailed Process Flow
18.2 Operations Involved
18.3 Mass Balance
The global acetone market demand attained a volume of nearly 7 million metric tons in 2020. It is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3.4%. The acetone market is projected to reach a volume of around 8.6 million metric tons by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on application, the global acetone market can be segmented into solvents, Methyl Methacrylate (MMA), and BPA, among others. North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific are the major regions for the acetone market, with the Asia Pacific leading the overall global acetone market with a 46% share. The key players in the above industry are INEOS Phenol, Sinopec Corporation, Cepsa, Mitsui Chemicals Group, LG Chem, Ltd., Formosa Chemicals & Fibre Corp, Shell Chemical, Honeywell International Inc., Versalis S.p.A., and Dow Chemical Company, among others.
The major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, growing BPA and MMA sectors, growth in construction and pharmaceutical sectors, and the healthy growth of the cosmetics industry are driving the growth of the market globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.