Acetone Market Size, Share, Trends, Industry Analysis Report: By Grade, By End-User, By Application, and By Region - Market Forecast, 2024

Description

List of Tables

The global acetone market size is expected to reach USD 12.60 billion by 2032, according to a new study by Polaris Market Research. The report "Global Acetone Market Share, Size, Trends, Industry Analysis Report: By Grade (Specialty Grade Acetone, Technical Grade Acetone), By End-User, By Application, and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Market Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The acetone market is experiencing significant growth owing to the increasing use of acetone in the manufacturing of personal care items, as well as its expanding application in sectors such as paints & coatings, automobiles, and pharmaceuticals.

Acetone is a crucial solvent in the manufacturing process of polycarbonate, contributing to its high demand from the automobile industry. For instance, according to the International Energy Agency (IEA), in 2022, the United States produced 9.2 million vehicles, marking a 4.0% increase from the previous year.

Acetone is also utilized in the production of various automotive coatings and adhesives, further propelling the market growth in the automobile industry. Polycarbonate is used in automotive interiors for components such as dashboards, door panels, and trim due to its lightweight and impact-resistant properties.

Moreover, acetone is used as a solvent in various coating formulations owing to its properties, such as fast evaporation rate and effective solvent power, which are crucial in producing paints, varnishes, and adhesives.

For instance, according to the British Coatings Federation (BCF), the United Kingdom's annual coatings sales surge resulted in a 19% rise from 450 million liters in April 2020 to 555 million liters by April 2021.

In recent years, to decrease the dependence on fossil-derived acetone, minimize the carbon footprint during production, and meet the requirements of sustainability, and environmental regulations, acetone has been produced using renewable bio-circular materials obtained from industrial waste, such as used cooking oils, which are integrated with current feedstock.

For instance, in November 2023, Evonik's crosslinkers facility in the United States was awarded the certification of ISCC PLUS sustainability for incorporating renewable acetone in the manufacturing process of isophorone-based products. This certification enabled Evonik to introduce its renewable VESTA eCO series of isophorone-based products in the United States market.

Acetone Market Report Highlights

The technical grade acetone segment dominated the market owing to the affordability of technical-grade acetone products and its wide applications in the construction industry.

The solvents category dominated the market mainly attributed to the increased use of acetone as a solvent in active filters to ensure precise medication dosage delivery.

The Asia-Pacific region dominated the market due to the growing demand for the product across different end-user sectors like pharmaceuticals, personal care & cosmetics, and automotive in several countries, such as China, India, and Japan.

Europe region is expected to grow at the fastest CAGR owing to the technological advancements in chemical manufacturing that allow for large-scale commercial production of acetone.

The global key market players include Arkema, CEPSA Chemicals, DOMO Chemicals, Honeywell International Inc., INEOS, Kumho P&B Chemicals, Mitsui Chemicals Inc., SABIC, Shell Plc and Solvay.

Polaris Market Research has segmented the acetone market report based on grade, end-user, application, and region:

Acetone, Grade Outlook (Revenue - USD billion, Volume kilotons, 2019 - 2032)

Specialty Grade Acetone
Technical Grade Acetone

Acetone, End-user Outlook (Revenue - USD billion, Volume kilotons, 2019 - 2032)

Construction
Automotive
Cosmetics and Personal Care
Paints and Coatings
Pharmaceutical
Agriculture
Others

Acetone, Application Outlook (Revenue - USD billion, Volume kilotons, 2019 - 2032)

Bisphenol A
Methyl Methacrylate
Solvents
Methyl Isobutyl Ketone
Others

Acetone, Regional Outlook (Revenue - USD billion, Volume kilotons, 2019 - 2032)

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Australia
Vietnam
Malaysia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM1665

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Acetone Market Insights

4.1. Acetone Market - Market Snapshot
4.2. Acetone Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Use of Eco-Friendly Acetone Market in Cosmetics Industry is Driving the Market Growth
  - 4.2.1.2. Increasing Use of Acetone Market in Paints and Coatings Industry
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Raw Material Price Volatility
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Acetone Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Acetone Market, by Grade

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
5.3. Specialty Grade Acetone Market
- 5.3.1. Global Acetone Market, by Specialty Grade Acetone Market, by Region, 2019-2032 (USD Billion, Volume Kilotons)
5.4. Technical Grade Acetone Market
- 5.4.1. Global Acetone Market, by Technical Grade Acetone Market, by Region, 2019-2032 (USD Billion, Volume Kilotons)

6. Global Acetone Market, by End-User

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
6.3. Construction
- 6.3.1. Global Acetone Market, by Construction, by Region, 2019-2032 (USD Billion, Volume Kilotons)
6.4. Automotive
- 6.4.1. Global Acetone Market, by Automotive, by Region, 2019-2032 (USD Billion, Volume Kilotons)
6.5. Cosmetics and Personal Care
- 6.5.1. Global Acetone Market, by Cosmetics and Personal Care, by Region, 2019-2032 (USD Billion, Volume Kilotons)
6.6. Paints and Coatings
- 6.6.1. Global Acetone Market, by Paints and Coatings, by Region, 2019-2032 (USD Billion, Volume Kilotons)
6.7. Pharmaceutical
- 6.7.1. Global Acetone Market, by Pharmaceutical, by Region, 2019-2032 (USD Billion, Volume Kilotons)
6.8. Agriculture
- 6.8.1. Global Acetone Market, by Agriculture, by Region, 2019-2032 (USD Billion, Volume Kilotons)
6.9. Others
- 6.9.1. Global Acetone Market, by Others, by Region, 2019-2032 (USD Billion, Volume Kilotons)

7. Global Acetone Market, by Application

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
7.3. Bisphenol A
- 7.3.1. Global Acetone Market, by Bisphenol A, by Region, 2019-2032 (USD Billion, Volume Kilotons)
7.4. Methyl Methacrylate
- 7.4.1. Global Acetone Market, by Methyl Methacrylate, by Region, 2019-2032 (USD Billion, Volume Kilotons)
7.5. Solvents
- 7.5.1. Global Acetone Market, by Solvents, by Region, 2019-2032 (USD Billion, Volume Kilotons)
7.6. Methyl Isobutyl Ketone
- 7.6.1. Global Acetone Market, by Methyl Isobutyl Ketone, by Region, 2019-2032 (USD Billion, Volume Kilotons)
7.7. Others
- 7.7.1. Global Acetone Market, by Others, by Region, 2019-2032 (USD Billion, Volume Kilotons)

8. Global Acetone Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Acetone Market Assessment, By Geography, 2019-2032 (USD Billion, Volume Kilotons)
8.3. Acetone Market - North America
- 8.3.1. North America: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
- 8.3.2. North America: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
- 8.3.3. North America: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.3.4. Acetone Market - U.S.
  - 8.3.4.1. U.S.: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.3.4.2. U.S.: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.3.4.3. U.S.: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.3.5. Acetone Market - Canada
  - 8.3.5.1. Canada: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.3.5.2. Canada: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.3.5.3. Canada: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
8.4. Acetone Market - Europe
- 8.4.1. Europe: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.2. Europe: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.3. Europe: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.4. Acetone Market - UK
  - 8.4.4.1. UK: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.4.2. UK: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.4.3. UK: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.5. Acetone Market - France
  - 8.4.5.1. France: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.5.2. France: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.5.3. France: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.6. Acetone Market - Germany
  - 8.4.6.1. Germany: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.6.2. Germany: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.6.3. Germany: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.7. Acetone Market - Italy
  - 8.4.7.1. Italy: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.7.2. Italy: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.7.3. Italy: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.8. Acetone Market - Spain
  - 8.4.8.1. Spain: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.8.2. Spain: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.8.3. Spain: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.9. Acetone Market - Netherlands
  - 8.4.9.1. Netherlands: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.9.2. Netherlands: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.9.3. Netherlands: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.10. Acetone Market - Russia
  - 8.4.10.1. Russia: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.10.2. Russia: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.10.3. Russia: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.10.4. Russia: Acetone Market, by End User, 2019-2032 (USD Billion, Volume Kilotons)
- 8.4.11. Acetone Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.11.2. Rest of Europe: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.4.11.3. Rest of Europe: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
8.5. Acetone Market - Asia Pacific
- 8.5.1. Asia Pacific: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.2. Asia Pacific: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.3. Asia Pacific: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.4. Acetone Market - China
  - 8.5.4.1. China: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.4.2. China: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.4.3. China: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.5. Acetone Market - India
  - 8.5.5.1. India: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.5.2. India: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.5.3. India: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.6. Acetone Market - Malaysia
  - 8.5.6.1. Malaysia: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.6.2. Malaysia: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.6.3. Malaysia: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.7. Acetone Market - Japan
  - 8.5.7.1. Japan: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.7.2. Japan: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.7.3. Japan: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.8. Acetone Market - Indonesia
  - 8.5.8.1. Indonesia: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.8.2. Indonesia: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.8.3. Indonesia: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.9. Acetone Market - South Korea
  - 8.5.9.1. South Korea: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.9.2. South Korea: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.9.3. South Korea: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.10. Acetone Market - Australia
  - 8.5.10.1. Australia: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.10.2. Australia: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.10.3. Australia: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.5.11. Acetone Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.11.2. Rest of Asia Pacific: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.5.11.3. Rest of Asia Pacific: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
8.6. Acetone Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.2. Middle East & Africa: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.3. Middle East & Africa: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.4. Acetone Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.4.2. Saudi Arabia: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.4.3. Saudi Arabia: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.5. Acetone Market - UAE
  - 8.6.5.1. UAE: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.5.2. UAE: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.5.3. UAE: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.6. Acetone Market - Israel
  - 8.6.6.1. Israel: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.6.2. Israel: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.6.3. Israel: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.7. Acetone Market - South Africa
  - 8.6.7.1. South Africa: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.7.2. South Africa: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.7.3. South Africa: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.6.8. Acetone Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.8.2. Rest of Middle East & Africa: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.6.8.3. Rest of Middle East & Africa: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
8.7. Acetone Market - Latin America
- 8.7.1. Latin America: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
- 8.7.2. Latin America: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
- 8.7.3. Latin America: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.7.4. Acetone Market - Mexico
  - 8.7.4.1. Mexico: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.4.2. Mexico: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.4.3. Mexico: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.7.5. Acetone Market - Brazil
  - 8.7.5.1. Brazil: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.5.2. Brazil: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.5.3. Brazil: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.7.6. Acetone Market - Argentina
  - 8.7.6.1. Argentina: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.6.2. Argentina: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.6.3. Argentina: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)
- 8.7.7. Acetone Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Acetone Market, by Grade, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.7.2. Rest of Latin America: Acetone Market, by End-User, 2019-2032 (USD Billion, Volume Kilotons)
  - 8.7.7.3. Rest of Latin America: Acetone Market, by Application, 2019-2032 (USD Billion, Volume Kilotons)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. Arkema
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. CEPSA Chemicals
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. DOMO Chemicals
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Honeywell International Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. INEOS
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. Kumho P&B Chemicals
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. Mitsui Chemicals Inc.
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. SABIC
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. Shell Plc
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. Solvay
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Developmen