Market Research Report
Global Acetone Market - 2021-2028
|Global Acetone Market - 2021-2028|
Published: December 6, 2021
Content info: 180 Pages
Delivery time: 2 business days
Global Acetone Market is Segmented By Application (Methyl Methacrylate, Bisphenol A, Solvents, and Other), By End-user Industry (Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical, Agricultural Chemicals, Paints, Coatings and Adhesives), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share Outlook, and Opportunity Analysis, 2020-2027
Industry overview and world production of Acetone
The Global acetone market is projected to reach USD 8.3 billion by 2025, growing at a CAGR of 4.25% from 2020-2027
Acetone, also known as dimethyl ketone, is an inflammable, colorless, transparent, and volatile fluid compound with a sweet odor which is the purest form of ketone. Propylene is used as a feedstock for the production of most of the acetone.
Acetone is used as a direct solvent and as a pioneer of methyl methacrylate (MMA), methacrylic acid, and bisphenol-A (BPA), and aldol chemicals.
It has applications such as heavy metal degreaser, cleaning tools and chemical peeling in the pharmaceuticals, acetone cyanohydrin personal care, epoxy resins paints & coatings, and construction end-use industries.
Acetone is used in the production of polycarbonate which is a raw material in the manufacturing of insulation for electrical applications.
Methyl methacrylate (MMA) is in demand, and its use in LCDs for consumer electronics market is estimated to be a significant driver for the exchange of acetone in the forecast period.
Acetone Market Segmentation Analysis
Among all the applications, Methyl Methacrylate (MMA), Bisphenol - A (BPA), Solvents and others (Aldol Chemicals, etc.), epoxy resins, acetone cyanohydrin, Bisphenol - A (BPA), accounted for significant revenue share compared to other applications.
BPA is the dominant application because of its extensive usage in the automotive industry. However, the demand is expected to grow at a moderate rate because of increasing regulations on its usage.
Methyl Methacrylate (MMA) is expected to grow at a reasonable rate because of increased usage in cosmetics for artificial nail products, especially in Asia-Pacific economies, it is also increasingly used for medical application in dentistry.
Acetone global demand in the end-user segment
The demand for acetone is increasing in end-use industries such as automotive, agricultural chemicals, and paints, coatings & adhesives industries is a significant factor in driving the growth of the graphite market.
Moreover, increasing usage of acetone in sectors like Agricultural Chemicals, Paints, Coatings & Adhesives, are other factors expected to drive the growth of the global acetone market.
Acetone Market Geographical Share
Geographically, Asia-Pacific is the largest market for acetone, and the tendency is estimated to continue over the forecast period due to the high rates of growth accounted by upcoming economies for the electronics and automotive industries. India, China, Indonesia, and Malaysia are anticipated to have the highest growth rate of acetone market in this region due to the augmentation of the automotive segment.
The Dow Chemical Company, INEOS Phenol company, Hindustan Organic Chemicals Limited, U.S. Chemicals, Mitsui Chemicals, Minda, Sunoco, The Plaza Group ALTIVIA Petrochemicals, LLC, and Honeywell Chemicals are prominent players of the global acetone market.