Global Acetone Market is valued approximately USD 4.88 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.3 % over the forecast period 2021-2027. Acetone is an organic solvent that is volatile, colourless, and flammable. It readily evaporates, is combustible, and dissolves in water. Acetone is used in the production of textiles, medicines, plastic, and other compounds. Rising demand for bio-based solvents is a major factor driving the acetone market. Acetone is increasingly being used in the textile sector to degrease wool and degum silk fueling the market growth for acetone. Also, high demand of solvents in pharmaceuticals industry has led the adoption of Acetone across the forecast period. According to the European Biomass Industry Association, the overall bio-based share in Europe increased from 12% in 2008 to 15% in 2015 and increase in the bio-based share of the chemical industry from about 6% in 2008 to 7% in 2015. However, acetone flammability, low acute toxicity and acetone-related health concerns such as liver damage, vomiting, and blindness induced by exposure to acetone and high price of acetone hampers the growth of the market over the forecast period of 2021-2027. Also, rapidly growing use of acetone in personal care industry and use of sanitization products with acetone is likely to increase the market growth during the forecast period.
The global acetone market is segmented into main regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising demand for acetone in textile industries and cleaning products. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2021-2027. Factors such as rising disposable income, increasing use of acetone in cosmetic industry and surging demand for paints & coatings would create lucrative growth prospects for the acetone market across Asia-Pacific region.
Major market player included in this report are:
INEOS Phenol GmbH
Mitsui Chemicals Inc
The Dow Chemical Company
Prasol Chemicals Pvt Ltd.
Royal Dutch Shell PLC
CEPSA Quimica, S.A.
Thermo Fisher Scientific Inc
LyondellBasell Industries Inc.
Honeywell Research Chemicals
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Methyl Methacrylate (MMA)
By Distribution Channel:
Manufacturer to Distributor
Manufacturer to End-user
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Acetone Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers