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Global Acetone Market: By Application: Solvents, Methyl Methacrylate (MMA), BPA, Other; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Price Analysis; Trade Data Analysis (HS Code: 291411); Porter’s Five Forces Analysis; Value Chain Analysis; Procurement Strategy; Cost Analysis; Competitive Landscape & Supplier Analysis; Manufacturing Process; Production Cost Analysis and Project Economics

Global Acetone Market Key Insights:

 

  • Applications: Solvents, Methyl Methacrylate (MMA), BPA, among others
  • Market Analysis and Outlook 2020-2025
  • SWOT Analysis
  • Market Performance
  • Breakup by Region
  • Price Analysis
  • Competitive Landscape
  • Value Chain Analysis
  • Mergers and Acquisitions

 

Market Outlook

The global acetone market demand reached a volume of nearly 7 million metric tons in 2019. The demand is estimated to grow at a CAGR of 3.4% in the forecast period of 2020-2025 to reach a volume of around 8.6 million metric tons by 2025. 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.

Global Acetone Market Report and Forecast 2020-2025

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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. India, another major country in the Asia Pacific region, has imposed ADD (Anti-Dumping Duties) in 2015 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.

Properties and Applications

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:

  • Solvents
  • Methyl Methacrylate (MMA)
  • BPA
  • Other

The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Market Analysis

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.

Competitive Landscape

August 2019- 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:

  • INEOS Phenol 
  • Sinopec Corporation
  • Cepsa
  • Mitsui Chemicals Group
  • LG Chem, Ltd.
  • Formosa Chemicals & Fibre Corp 
  • Shell Chemical
  • Honeywell International Inc.
  • Versalis S.p.A.
  • Dow Chemical Company
  • Others

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.

1    Preface
    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
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    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 (2015-2019) & Forecast (2020-2025)
    6.2    Chart: Global Acetone Market Breakup by Application
        6.2.1    Solvents
        6.2.2    Methyl Methacrylate (MMA)
        6.2.3    BPA
        6.2.4    Other
    6.3    Figure: Global Acetone Market Breakup by Application: Historical Market (2015-2019) & Forecast (2020-2025)
        6.3.1    Solvents
        6.3.2    Methyl Methacrylate (MMA)
        6.3.3    BPA
        6.3.4    Other
    6.4    Chart: Global Acetone Market Breakup by Region:
        6.4.1    North America
            6.4.1.1    United States of America
            6.4.1.2    Canada
        6.4.2    Europe
            6.4.2.1    Germany
            6.4.2.2    France
            6.4.2.3    United Kingdom
            6.4.2.4    Italy
            6.4.2.5    Others
        6.4.3    Asia Pacific
            6.4.3.1    China
            6.4.3.2    Japan
            6.4.3.3    India
            6.4.3.4    ASEAN
            6.4.3.5    Others
        6.4.4    Latin America
            6.4.4.1    Brazil
            6.4.4.2    Argentina
            6.4.4.3    Mexico
            6.4.4.4    Others
        6.4.5    Middle East and Africa
            6.4.5.1    Saudi Arabia
            6.4.5.2    United Arab Emirates
            6.4.5.3    Nigeria
            6.4.5.4    South Africa
            6.4.5.5    Others
    6.5    Figure: Global Acetone Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
        6.5.1    North America
            6.5.1.1    United States of America
            6.5.1.2    Canada
        6.5.2    Europe
            6.5.2.1    Germany
            6.5.2.2    France
            6.5.2.3    United Kingdom
            6.5.2.4    Italy
            6.5.2.5    Others
        6.5.3    Asia Pacific
            6.5.3.1    China
            6.5.3.2    Japan
            6.5.3.3    India
            6.5.3.4    ASEAN
            6.5.3.5    Others
        6.5.4    Latin America
            6.5.4.1    Brazil
            6.5.4.2    Argentina
            6.5.4.3    Mexico
            6.5.4.4    Others
        6.5.5    Middle East and Africa
            6.5.5.1    Saudi Arabia
            6.5.5.2    United Arab Emirates
            6.5.5.3    Nigeria
            6.5.5.4    South Africa
            6.5.5.5    Others
7    Global Acetone Price Analysis
    7.1    North America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.2    Europe Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.3    Asia Pacific Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.4    Latin America Historical Price Trends (2015-2019) and Forecast (2020-2025)
    7.5    Middle East and Africa Historical Price Trends (2015-2019) and Forecast (2020-2025)
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
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Porter’s Five Forces Analysis
    10.1    Overview
    10.2    Buyer’s Power
    10.3    Supplier’s Power
    10.4    New Entrants
    10.5    Degree of Rivalry
    10.6    Substitutes
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
    15.4    Others
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    Cepsa
        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
    16.11    Others
17    Events and Developments

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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 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 3.4%. The acetone market is projected to reach a volume of around 8.6 million metric tons by 2025.

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:

  • How has the global acetone market performed in the previous years (2015-2019)?
  • What is the forecast assessment of the industry for 2020-2025?
  • What are the major industry drivers and constraints?
  • What are the major price and demand indicators of the global acetone market?
  • What are the price trends of the product in the industry globally?
  • Who are the key manufacturers of the product in the global acetone market?
  • What are the import and export trends in the global acetone market?
  • Who are the top importers and exporters of the product in the industry globally?
  • What is the degree of competition in the global acetone market?

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