Acetone Market Size and CAGR by 2031
The Acetone Market is expected to register a CAGR of 5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The acetone market report is segmented by application (solvents, methyl methacrylate, bisphenol a, and others). The report further presents an analysis based on the end use (cosmetics and personal care, pharmaceuticals, paints and coatings, chemicals, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities.
Purpose of the ReportThe report Acetone Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Acetone Market Segmentation
Application- Solvents
- Methyl Methacrylate
- Bisphenol A
- Cosmetics and Personal Care
- Pharmaceuticals
- Paints and Coatings
- Chemicals
Strategic Insights
Acetone Market Growth Drivers- Personal Care and Cosmetics Market Boosting Acetone Demand: The personal care and cosmetics market is one of the major markets fueling the consumption of acetone. Acetone is widely used in product formulations such as nail polish removers, hair care agents, and cleaners. Acetone helps in ensuring consistency and effectiveness in formulations.
- Acetone’s Role as a Key Solvent in the Chemical Sector: Acetone is a key solvent in the chemical sector, which utilizes it in the production of several chemicals and petrochemicals. As disinfectants and sanitizers are on the rise due to global health concerns, there is a high demand for acetone. Acetone is used as a precursor for isopropanol, a disinfectant.
- Increasing Construction Activities Driving Acetone Demand in Paints and Coatings: Acetone is highly used in paints and coatings applications. It is used as a thinner for various paints and coatings, helping to achieve the desired consistency. The strong growth of the building and construction industry due to increasing construction activities, government initiatives, and rising investment in residential, commercial, and industrial construction sectors drives demand for paints and coatings. This, in turn, drives the market for acetone.
- Rise of Bio-Based Acetone: The development of bio-based acetone is expected to be a key trend in the acetone market. This bio-based acetone is being formulated to respond to the need for sustainable alternatives to traditional petrochemical-derived products. The push factors in this direction include environmental reasons, the pressure of regulatory demands, and the increasing demand for green products.
- Environmental Conservation and Regulatory Pressures: The rising need for more considerable environmental conservation and reduction of natural resources has increased the demand for bio-based products, including acetone. Pressuring governments and organizations' increased demands for greener alternatives force manufacturers to concentrate on bio-based options, which are more environmentally friendly and less carbon-intensive as well as reduce fossil fuel dependency.
- Technological Advances in Bio-Based Acetone Production: Advances in technology make it possible to produce bio-based acetone from renewable resources. Plant-based feedstocks are used to produce bio-acetone that offers massive environmental advantages. Dazzle Dry’s bio-based acetone is produced through a proprietary fermentation process using raw plant materials (such as American-grown corn) as primary feedstock.
- Increasing Demand from the Pharmaceutical Industry: A high demand for acetone from the pharmaceutical industry will offer more opportunities for the acetone market growth during the forecast period. The pharmaceutical industry is using acetone very widely because it plays a great role in dissolving chemical agents and controlling the viscosity of drug formulations. Thus, the market growth potential is held by the upward trend of acetone demand in pharmaceuticals.
- Acetone's Role in Drug Formulation: Acetone is commonly used as a solvent in the pharmaceutical industry, capable of dissolving pharmaceutical active substances and other chemical agents. With its ability to govern the viscosity and density of solvents, acetone plays an especially crucial role in medicine formulation. Because of the increasing need for newer and innovative drug delivery systems, the demand for dependable solvents such as acetone is likely to be highly increased.
- Rise of Bio-Based Acetone in Pharmaceuticals: The interest in bio-based acetone is likely to increase with the increasing focus of the pharmaceutical industry on sustainability. With a global environment that is seeking to reduce carbon emissions and raise its level of environmental responsibility, the adoption of bio-based acetone is expected to increase in the coming time.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Acetone Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Acetone Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The development of bio-based acetone is expected to be the key market trends.
Based on end use, the cosmetics and personal care segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the acetone market due to strong growth of the paints and coatings, cosmetics and pharmaceuticals industry in the region.
A high demand from the chemicals industry is driving the market growth
Cepsa, INEOS, Shell International B.V., Honeywell International Inc, Mitsui Chemicals Inc, SABIC, KUMHO P and B CHEMICALS.,INC., LG Chem., Spectrum Chemical, and Domo Chemicals are the key players operating in the acetone market.
The Acetone Market is estimated to witness a CAGR of 5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Acetone Market - By Application
1.3.2 Acetone Market - By End-user Industry
1.3.3 Acetone Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ACETONE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ACETONE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ACETONE MARKET - GLOBAL MARKET ANALYSIS
6.1. ACETONE - GLOBAL MARKET OVERVIEW
6.2. ACETONE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ACETONE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. METHYL METHACRYLATE (MMA)
7.3.1. Overview
7.3.2. Methyl Methacrylate (MMA) Market Forecast and Analysis
7.4. BISPHENOL A (BPA)
7.4.1. Overview
7.4.2. Bisphenol A (BPA) Market Forecast and Analysis
7.5. SOLVENTS
7.5.1. Overview
7.5.2. Solvents Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. ACETONE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER INDUSTRY
8.1. OVERVIEW
8.2. END-USER INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. COSMETICS AND PERSONAL CARE
8.3.1. Overview
8.3.2. Cosmetics and Personal Care Market Forecast and Analysis
8.4. CHEMICAL
8.4.1. Overview
8.4.2. Chemical Market Forecast and Analysis
8.5. PLASTIC
8.5.1. Overview
8.5.2. Plastic Market Forecast and Analysis
8.6. PHARMACEUTICAL
8.6.1. Overview
8.6.2. Pharmaceutical Market Forecast and Analysis
8.7. PAINTS AND COATINGS
8.7.1. Overview
8.7.2. Paints and Coatings Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. ACETONE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Acetone Market Overview
9.1.2 North America Acetone Market Forecasts and Analysis
9.1.3 North America Acetone Market Forecasts and Analysis - By Application
9.1.4 North America Acetone Market Forecasts and Analysis - By End-user Industry
9.1.5 North America Acetone Market Forecasts and Analysis - By Countries
9.1.5.1 United States Acetone Market
9.1.5.1.1 United States Acetone Market by Application
9.1.5.1.2 United States Acetone Market by End-user Industry
9.1.5.2 Canada Acetone Market
9.1.5.2.1 Canada Acetone Market by Application
9.1.5.2.2 Canada Acetone Market by End-user Industry
9.1.5.3 Mexico Acetone Market
9.1.5.3.1 Mexico Acetone Market by Application
9.1.5.3.2 Mexico Acetone Market by End-user Industry
9.2. EUROPE
9.2.1 Europe Acetone Market Overview
9.2.2 Europe Acetone Market Forecasts and Analysis
9.2.3 Europe Acetone Market Forecasts and Analysis - By Application
9.2.4 Europe Acetone Market Forecasts and Analysis - By End-user Industry
9.2.5 Europe Acetone Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Acetone Market
9.2.5.1.1 Germany Acetone Market by Application
9.2.5.1.2 Germany Acetone Market by End-user Industry
9.2.5.2 France Acetone Market
9.2.5.2.1 France Acetone Market by Application
9.2.5.2.2 France Acetone Market by End-user Industry
9.2.5.3 Italy Acetone Market
9.2.5.3.1 Italy Acetone Market by Application
9.2.5.3.2 Italy Acetone Market by End-user Industry
9.2.5.4 United Kingdom Acetone Market
9.2.5.4.1 United Kingdom Acetone Market by Application
9.2.5.4.2 United Kingdom Acetone Market by End-user Industry
9.2.5.5 Russia Acetone Market
9.2.5.5.1 Russia Acetone Market by Application
9.2.5.5.2 Russia Acetone Market by End-user Industry
9.2.5.6 Rest of Europe Acetone Market
9.2.5.6.1 Rest of Europe Acetone Market by Application
9.2.5.6.2 Rest of Europe Acetone Market by End-user Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Acetone Market Overview
9.3.2 Asia-Pacific Acetone Market Forecasts and Analysis
9.3.3 Asia-Pacific Acetone Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Acetone Market Forecasts and Analysis - By End-user Industry
9.3.5 Asia-Pacific Acetone Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Acetone Market
9.3.5.1.1 Australia Acetone Market by Application
9.3.5.1.2 Australia Acetone Market by End-user Industry
9.3.5.2 China Acetone Market
9.3.5.2.1 China Acetone Market by Application
9.3.5.2.2 China Acetone Market by End-user Industry
9.3.5.3 India Acetone Market
9.3.5.3.1 India Acetone Market by Application
9.3.5.3.2 India Acetone Market by End-user Industry
9.3.5.4 Japan Acetone Market
9.3.5.4.1 Japan Acetone Market by Application
9.3.5.4.2 Japan Acetone Market by End-user Industry
9.3.5.5 South Korea Acetone Market
9.3.5.5.1 South Korea Acetone Market by Application
9.3.5.5.2 South Korea Acetone Market by End-user Industry
9.3.5.6 Rest of Asia-Pacific Acetone Market
9.3.5.6.1 Rest of Asia-Pacific Acetone Market by Application
9.3.5.6.2 Rest of Asia-Pacific Acetone Market by End-user Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Acetone Market Overview
9.4.2 Middle East and Africa Acetone Market Forecasts and Analysis
9.4.3 Middle East and Africa Acetone Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Acetone Market Forecasts and Analysis - By End-user Industry
9.4.5 Middle East and Africa Acetone Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Acetone Market
9.4.5.1.1 South Africa Acetone Market by Application
9.4.5.1.2 South Africa Acetone Market by End-user Industry
9.4.5.2 Saudi Arabia Acetone Market
9.4.5.2.1 Saudi Arabia Acetone Market by Application
9.4.5.2.2 Saudi Arabia Acetone Market by End-user Industry
9.4.5.3 U.A.E Acetone Market
9.4.5.3.1 U.A.E Acetone Market by Application
9.4.5.3.2 U.A.E Acetone Market by End-user Industry
9.4.5.4 Rest of Middle East and Africa Acetone Market
9.4.5.4.1 Rest of Middle East and Africa Acetone Market by Application
9.4.5.4.2 Rest of Middle East and Africa Acetone Market by End-user Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Acetone Market Overview
9.5.2 South and Central America Acetone Market Forecasts and Analysis
9.5.3 South and Central America Acetone Market Forecasts and Analysis - By Application
9.5.4 South and Central America Acetone Market Forecasts and Analysis - By End-user Industry
9.5.5 South and Central America Acetone Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Acetone Market
9.5.5.1.1 Brazil Acetone Market by Application
9.5.5.1.2 Brazil Acetone Market by End-user Industry
9.5.5.2 Argentina Acetone Market
9.5.5.2.1 Argentina Acetone Market by Application
9.5.5.2.2 Argentina Acetone Market by End-user Industry
9.5.5.3 Rest of South and Central America Acetone Market
9.5.5.3.1 Rest of South and Central America Acetone Market by Application
9.5.5.3.2 Rest of South and Central America Acetone Market by End-user Industry
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ACETONE MARKET, KEY COMPANY PROFILES
11.1. ALTIVIA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BASF SE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BOREALIS AG
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CEPSA
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. FORMOSA CHEMICALS AND FIBRE CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GREEN BIOLOGICS LIMITED
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HONEYWELL INTERNATIONAL INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. INEOS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. LCY GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MITSUI CHEMICALS INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Altivia
2. BASF SE
3. Borealis AG
4. Cepsa
5. Formosa Chemicals and Fibre Corporation
6. Green Biologics Limited
7. Honeywell International Inc.
8. INEOS
9. LCY GROUP
10. Mitsui Chemicals Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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