Acetone Market Overview
A Report by DataM Intelligence estimates the Global Acetone market to grow at a high CAGR Of 6.55% during the forecast period 2024- 2031. The market is expected to grow due to increasing demand from Cosmetics and Personal Care, Electronics, Construction, Automotive, Pharmaceutical. The competitive rivalry intensifies with Minda, Sunoco., Honeywell Chemicals, and others operating in the market.
Acetone, also known as dimethyl ketone, is an inflammable, colorless, transparent, and volatile fluid compound with a sweet odor which is the purest form of the ketone. Propylene is used as a feedstock for the production of most acetone.Acetone is used as a direct solvent and as a pioneer of methyl methacrylate (MMA), methacrylic acid, bisphenol-A (BPA), and aldol chemicals.It has applications such as heavy metal degreaser, cleaning tools, and chemical peeling in the pharmaceuticals, acetone cyanohydrin personal care, epoxy resin paints & coatings, and construction end-use industries.Acetone is used in the production of polycarbonate which is a raw material in the manufacturing of insulation for electrical applications.Methyl methacrylate (MMA) is in demand, and its use in LCDs for the consumer electronics market is estimated to be a significant driver for the exchange of acetone in the forecast period.
Acetone Market Scope
| Metrics | Details |
| Market CAGR | 6.55% |
| Segments Covered | By Application, By End-user Industry, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Acetone Market Segmentation Analysis
- Among all the applications, Methyl Methacrylate (MMA), Bisphenol – A (BPA), Solvents and others (Aldol Chemicals, etc.), epoxy resins, acetone cyanohydrin, Bisphenol – A (BPA), accounted for significant revenue share compared to other applications.
- BPA is the dominant application because of its extensive usage in the automotive industry. However, the demand is expected to grow at a moderate rate because of increasing regulations on its usage.
- Methyl Methacrylate (MMA) is expected to grow at a reasonable rate because of increased usage in cosmetics for artificial nail products, especially in Asia-Pacific economies, it is also increasingly used for medical applications in dentistry.
Acetone global demand in the end-user segment
- The demand for acetone is increasing in end-use industries such as automotive, agricultural chemicals, and paints, coatings & adhesives industries is a significant factor in driving the growth of the graphite market.
- Moreover, increasing usage of acetone in sectors like Agricultural Chemicals, Paints, Coatings & Adhesives, are other factors expected to drive the growth of the global acetone market.
Global Acetone Market Geographical Share
- Geographically, Asia-Pacific is the largest market for acetone, and the tendency is estimated to continue over the forecast period due to the high rates of growth accounted for by upcoming economies for the electronics and automotive industries. India, China, Indonesia, and Malaysia are anticipated to have the highest growth rate of the acetone market in this region due to the augmentation of the automotive segment.
Acetone Market Companies
The Dow Chemical Company, INEOS Phenol company, Hindustan Organic Chemicals Limited, U.S. Chemicals, Mitsui Chemicals, Minda, Sunoco, The Plaza Group ALTIVIA Petrochemicals, LLC, and Honeywell Chemicals are prominent players in the global acetone market.
