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The global output for acetone 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 2023-2028 owing to the growing end-use industries.
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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.
International manufacturers have shifted their manufacturing units to the region due to affordable infrastructure and labour costs. Emerging economies, growing industrialization, and rising purchasing power are projected to continue contributing to the demand for chemicals from regional end-use industries. China is expected to be a leading consumer and manufacturer of acetone and is anticipated to continue its dominance owing to its increasing consumption as a solvent. Moreover, the acetone market participants in China have benefited from a plentiful supply of raw materials, putting more pressure on other regional and global suppliers.
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.
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Acetone refers to a simple organic compound used in the production of bulk pharmaceuticals, agrochemicals, dyestuffs, other explosives, and downstream chemicals.
The significant applications of the market are:
The regional markets for the acetone market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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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. The growth is expected to be driven by factors such as increased use of acetone as a solvent and high demand in the pharmaceutical, cosmetics, and paints and adhesives industries. It is one of the most common solvents used in nail polish removers and cleansers in cosmetics. Product usage is also driven by favourable physical qualities, such as low boiling point and miscibility in water, which is expected to boost the global market in the next years. 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. Additionally, the 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 growth is also aided by the rising disposable income of the population.
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 market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
---|---|
Base Year | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region |
Breakup by Application | Solvents, Methyl Methacrylate (MMA), BPA, Others |
Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
Price Analysis | Historical and Forecast Price Trends- Regional |
Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
Companies Covered | Shell Chemicals, INEOS Group Holdings S.A., Cepsa Química, S.A., LG Chem, Honeywell International Inc., Versalis S.p.A., Mitsui Chemicals Group, Formosa Chemicals and Fibre Corporation, Altivia, Hindustan Organic Chemicals Limited, SI Group, Inc., Others |
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Acetone Market Analysis
8.1 Key Industry Highlights
8.2 Global Acetone Historical Market (2018-2022)
8.3 Global Acetone Market Forecast (2023-2028)
8.4 Global Acetone Market by Application
8.4.1 Solvents
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Methyl Methacrylate (MMA)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 BPA
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Acetone Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code – 291411)
12.1 Major Importing Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Exporting Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
13.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Shell Chemicals
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 INEOS Group Holdings S.A.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Cepsa Química, S.A.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 LG Chem
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Honeywell International Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Versalis S.p.A.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Mitsui Chemicals Group
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Formosa Chemicals and Fibre Corporation
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Altivia
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Hindustan Organic Chemicals Limited
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 SI Group, Inc.
14.2.11.1 Company Overview
14.2.11.2 Product Portfolio
14.2.11.3 Demographic Reach and Achievements
14.2.11.4 Certifications
14.2.12 Others
15 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Acetone Market: Key Industry Highlights, 2018 and 2028
2. Global Acetone Historical Market: Breakup by Application (Million Metric Tons), 2018-2022
3. Global Acetone Market Forecast: Breakup by Application (Million Metric Tons), 2023-2028
4. Global Acetone Historical Market: Breakup by Region (Million Metric Tons), 2018-2022
5. Global Acetone Market Forecast: Breakup by Region (Million Metric Tons), 2023-2028
6. North America Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
7. North America Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
8. Europe Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
9. Europe Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
10. Asia Pacific Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
11. Asia Pacific Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
12. Latin America Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
13. Latin America Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
14. Middle East and Africa Acetone Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
15. Middle East and Africa Acetone Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. North America Historical Price Trends and Forecast 2018-2028
21. Europe Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Historical Price Trends and Forecast 2018-2028
23. Latin America Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Historical Price Trends and Forecast 2018-2028
25. Global Acetone Market Structure
In 2020, the global acetone market attained a volume of nearly 7 million metric tons.
The market is projected to grow at a CAGR of 3.4% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a volume of around 8.6 million metric tons by 2026.
The major drivers of the industry, such as the rising disposable incomes, increasing hygiene awareness, rapidly growing cosmetic market, and the growing end-use industries, are expected to aid the market growth.
The rising beauty and personal care industry is expected to define the market growth in the coming years.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with the Asia Pacific accounting for the largest share in the market.
Solvents, methyl methacrylate (MMA), and BPA, among others are the leading applications of acetone in the industry.
The major players in the industry are Shell Chemicals, INEOS Group Holdings S.A., Cepsa Química, S.A., LG Chem, Honeywell International Inc., Versalis S.p.A., Mitsui Chemicals Group, Formosa Chemicals and Fibre Corporation, Altivia, Hindustan Organic Chemicals Limited, and SI Group, Inc., among others.
The global acetone market attained a volume of nearly 7 million metric tons in 2020, driven by the increasing hygiene awareness. Aided by the rising beauty and personal care industry, the market is expected to witness a further growth in the forecast period of 2023-2028, 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 applications, the market can be segmented into solvents, methyl methacrylate (MMA), and BPA, among others. The major regional markets for acetones are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include Shell Chemicals, INEOS Group Holdings S.A., Cepsa Química, S.A., LG Chem, Honeywell International Inc., Versalis S.p.A., Mitsui Chemicals Group, Formosa Chemicals and Fibre Corporation, Altivia, Hindustan Organic Chemicals Limited, and SI Group, Inc., among others.
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 market insights that are accurate, actionable, and help them remain ahead of their competition.
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