Acetone Global Market Report 2024

“Acetone Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on acetone market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for acetone? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The acetone market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Grade: Specialty Grade Acetone; Technical Grade Acetone
• 2) By Distribution Channel: Manufacturer to Distributor; Manufacturer to End-User
• 3) By Application: Bisphenol A; Methyl Methacrylate (MMA); Solvents; Methyl Isobutyl Ketone; Other Applications;
• 4) By End-User: Paints, Coatings, and Adhesives; Electronics; Cosmetics and Personal Care; Pharmaceutical; Other End-user
• Companies Mentioned: INEOS Phenol GmbH; Royal Dutch Shell plc; Honeywell International Inc.; Prasol Chemicals Limited; Mitsui Chemicals Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Acetone is a colorless liquid solvent with a distinctive odor and taste, commonly employed to break down and dissolve various compounds. It finds extensive use as a solvent in the production of plastics, as well as in other industrial and cosmetic products.

The primary types of acetone grades include regular acetone and technical-grade acetone. Specialty-grade acetone represents the purest form, with a composition of 99.9% impurity-free. This high-purity acetone is frequently utilized in medical and pharmaceutical applications. Acetone is employed in diverse applications such as the production of bisphenol A, methyl methacrylate (MMA), solvents, methyl isobutyl ketone, among others. Distribution channels for acetone include manufacturer-to-distributor and manufacturer-to-end-user. The compound is utilized in the formulation of paints, coatings, adhesives, electronics, cosmetics, and personal care products.

The acetone market research report is one of a series of new reports from The Business Research Company that provides acetone market statistics, including acetone industry global market size, regional shares, competitors with an acetone market share, detailed acetone market segments, market trends, and opportunities, and any further data you may need to thrive in the acetone industry. This acetone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The acetone market size has grown strongly in recent years. It will grow from $5.13 billion in 2023 to $5.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be attributed to several factors, including the demand from chemical manufacturing, the usage of acetone in the solvent and paint industry, its role in plastics and resin production, applications in pharmaceuticals and cosmetics, and the overall expansion of chemical and petrochemical industries. These factors collectively contributed to the growth of acetone within the specified historic period.

The acetone market size is expected to see strong growth in the next few years. It will grow to $7.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to several factors, including the expanding use of acetone in solvents and coatings, increased demand from the plastics and resins sector, a rise in pharmaceutical and cosmetic applications, a growing usage in industrial cleaning products, and the overall global economic expansion. Major trends expected in the forecast period include the influence of consumer preferences and industry adoption, market globalization driven by economic factors, a rising demand for industrial cleaning products, a shift towards green chemistry practices, and the impact of environmental and regulatory pressures on the industry.

The acetone market is experiencing growth due to increased demand for personal care products. Personal care products encompass a range of consumer goods used for hygienic practices, grooming, and beautification. Acetone serves as a vital chemical compound used in various personal care products, thereby contributing to the surge in acetone demand. For example, recent data from Circana, Inc., a US-based media company, indicates a notable increase in sales of prestige beauty products, which reached $14 billion in the first half of 2023-a 15% surge compared to the same period in 2022. Additionally, the mass beauty market generated $28 billion in revenue and observed a growth rate of 9%. Thus, the rising demand for personal care products is expected to drive the acetone market.

The acetone market is also influenced by the growing demand for polycarbonate products. Polycarbonate products are transparent thermoplastics known for their strength, lightweight nature, and impact resistance. Acetone plays a critical role as a key raw material in the cumene process, a chemical method used in producing polycarbonate. This process involves combining acetone, cumene, and phenol to produce bisphenol A (BPA), a crucial intermediate in polycarbonate synthesis. For instance, according to S&P Global Inc., the consumption of polycarbonate is projected to rise significantly, surpassing 5 million metric tons by 2022. The world's polycarbonate industry capacity is expected to reach 7.2 million metric tons by 2022, with substantial capacity expansion anticipated in mainland China over the next few years. Consequently, the escalating demand for polycarbonate products is anticipated to fuel growth in the acetone market.

Innovation stands as a pivotal trend in the acetone market, with major industry players focusing on research and development to drive product innovation and maintain market positioning. For example, in June 2022, INEOS Phenol GmbH, a Germany-based manufacturer of phenol and acetone, introduced the INVIRIDIS product line. INVIRIDIS represents a bio-attributed innovative line of products for phenol, acetone, and alpha-methyl styrene (AMS) manufactured without relying on fossil fuels as feedstock. By utilizing bio-attributed cumene, INVIRIDISTM offers a lower carbon footprint compared to conventionally produced phenol, acetone, and AMS. This innovation allows for a 100% substitution of fossil feedstock in the production system, employing a mass balance approach to reduce environmental impact.

Major players in the acetone market are directing their focus towards investing in new production plants, aiming to broaden their presence and reinforce their market position. These investments are geared towards expanding company infrastructure, enhancing production capacities, and fostering innovation. For instance, Shanghai Sinopec Mitsui Chemicals Co. Ltd., a China-based chemical company, announced the restart of production at China's Sinopec Mitsui Chemicals phenol and acetone plant in Shanghai in November 2023. The acetone and phenol manufactured at this facility serve as essential raw materials for synthesizing bisphenol A (BPA), crucial in the production of polycarbonate-a widely used thermoplastic in diverse industries.

In May 2021, Aceto Corporation, a US-based company specializing in specialty materials for life sciences and advanced technology, including acetone, completed the acquisition of Finar Limited for an undisclosed amount. This acquisition was strategically aimed at fortifying Aceto Corporation's manufacturing footprint, research and development capabilities, and quality expertise in pharmaceuticals, biopharmaceuticals, and vaccine end markets. Finar Limited, an India-based manufacturer, supplier, and distributor, possesses a diverse portfolio that includes pharmaceutical excipients and laboratory chemicals, notably acetone AR/ACS and acetone BP.

Major companies operating in the acetone market report are INEOS Phenol GmbH, Royal Dutch Shell plc, Honeywell International Inc., Prasol Chemicals Limited, Mitsui Chemicals Inc., Kumho P&B Chemicals Inc., Saudi Basic Industries Corporation., LyondellBasell Industries Holdings B.V., ALTIVIA Chemicals LLC, Domo Chemicals GmbH, Formosa Chemicals & Fiber Corp, Borealis AG, Reliance Industries Limited, CEPSA Quimica S.A, Arkema S.A., Celanese Corporation, The Dow Chemical Company, LG Chem Ltd., Deepak Nitrite Limited, PTT Global Chemical Public Company Limited, China National Petroleum Corporation, Jubilant Life Sciences Ltd., Dairen Chemical Corporation, Chevron Phillips Chemical Company LLC, Versalis S.p.A., Daicel Corporation, JX Nippon Oil & Energy Corporation, PetroChina Company Limited, Lihuayi Group Co. Ltd., SunVic Chemical Holdings Limited, A.B. Enterprises, Wuhan Youji Industries Co. Ltd., Tangshan Lory Industry Co. Ltd., Aadi Industries Ltd., Qenos Pty Ltd., Rain Carbon Inc

Asia-Pacific was the largest region in the acetone market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the acetone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the acetone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The acetone market consists of sales of reagent grade, spectrophotometric grade, HPLC grade, histological grade, laboratory grade, cleanroom grade, and FCC grade acetone. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.