Acetone, also known as propanone, is a colorless, volatile and flammable liquid with a distinct, sweet odor. It is the simplest and smallest ketone (an organic compound), with the chemical formula (CH3)2CO. Acetone is a significant solvent in the chemical industry, widely used for its effectiveness in dissolving a variety of substances, including fats, resins and plastics.
The acetone market consists of sales, by entities (organizations, sole traders and partnerships), of acetone, which is used across a wide range of industries due to its versatility as a solvent and chemical intermediate.
The global acetone market was valued at $4,356.7 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Increasing Demand For Polycarbonate Products
The increasing demand for polycarbonate products drove the growth of the acetone market in the historic period. Acetone plays a critical role as a raw material in the production of polycarbonates, achieved through condensation polymerization with bisphenol-A (BPA). Polycarbonates are prized for their robustness, optical clarity and ability to withstand high temperatures, qualities that make them versatile materials extensively utilized across multiple industries. For instance, according to S&P Global Inc., a US-based capital market company that offers financial information and analytics, the consumption of polycarbonate reached over 5 million metric tons in 2022. The capacity of the world's polycarbonate industry was estimated to reach 7.2 million metric tons in 2022. Therefore, the increasing demand for polycarbonate products supported the growth of the acetone market.
Increasing Investments In New Acetone Production Plants To Enhance Production Capabilities
Major companies operating in the acetone market are focusing on investing in new production plants to expand their footprints and strengthen their position in the market. These investments aim to improve production capabilities and focus on innovations. For instance, in November 2023, Shanghai Sinopec Mitsui Chemicals Co. Ltd., a China-based chemical company, announced the resumption of production at the Sinopec Mitsui Chemicals phenol plant in Shanghai, China. The acetone and phenol produced at the plant will be used as raw materials for synthesizing bisphenol A (BPA) and will be used in the production of polycarbonate, which is used as thermoplastic in various industries.
The global acetone market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 39.86% of the total market in 2023.
Acetone Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global acetone market as it emerges from the COVID-19 shut down.
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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 history and forecasts market growth by geography. It places the market within the context of the wider acetone market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by grade, by distribution channel, by application and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the acetone market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by grade, by distribution channel, by application and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for acetone providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Grade: Specialty Grade Acetone; Technical Grade Acetone
- 2) By Application: Bisphenol A; Methyl Methacrylate (Mma); Solvents; Methyl Isobutyl Ketone; Other Applications
- 3) By End-User: Paints & Coatings; Electronics; Cosmetics And Personal Care; Pharmaceutical; Automotive; Other End-User
- 4) By Distribution Channel: Manufacturer To Distributor; Manufacturer To End-User
- Companies Mentioned: Ineos Group Limited; Formosa Chemicals & Fibre Corp; PTT Global Chemical; Cepsa (Compania Espanola de Petroleos, S.A.U.); Sinopec
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- 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; acetone indicators comparison.
- 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.