Press release
Acetone Market Size US$ 10.0 Billion, Growth Rate (CAGR) of 6.2%, Top Leaders and Forecast Report 2023-2028
How big is the acetone market?
The global acetone market size reached US$ 6.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
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What are acetone market?
Acetone is a versatile chemical compound and a colourless, volatile liquid with a distinct sweet smell. Acetone is produced through the oxidation of cumene or the dehydrogenation of isopropyl alcohol. Its unique properties, including excellent solvency, low boiling point, and fast evaporation rate, make it suitable for numerous industrial processes.
Acetone is commonly utilized as a solvent in the manufacturing of plastics, synthetic fibres, pharmaceuticals, and personal care products. It is also employed as a key ingredient in nail polish removers, paint thinners, and cleaning agents. In addition, acetone finds extensive use as a chemical intermediate in the production of other chemicals and compounds, such as methyl methacrylate (MMA) and bisphenol-A (BPA).
What are the growth prospects and trends in the acetone industry?
The expanding demand for acetone in the chemical industry represents one of the key factors driving the market growth. Moreover, acetone serves as a vital precursor in the production of various chemicals, including polymers, resins, and pharmaceuticals. The rising consumption of acetone in the manufacturing of plastics and synthetic fibres is propelling the market. The growing demand for plastics and synthetic fibres across industries, the need for acetone as a raw material is on the rise. Additionally, the use of acetone in the cosmetics and personal care industry is a notable trend in the market.
The increasing focus on personal grooming and self-care is driving the demand for acetone-based products in the cosmetics industry. Furthermore, the acetone market is witnessing the emergence of bio-based acetone as an eco-friendly alternative. Manufacturers are exploring renewable feedstocks and sustainable production methods to produce acetone with reduced environmental impact. This aligns with the growing demand for sustainable and environmentally friendly chemicals in the market. The acetone market is poised for continued growth as its versatile applications and key role as a solvent and chemical intermediate drive demand across industries.
Who are the key players operating in the industry?
The report covers the major market players including:
Altivia
Arkema S.A.
Borealis AG (OMV Aktiengesellschaft)
Compañía Española de Petróleos S.A.U. (Cepsa)
Honeywell International Inc.
INEOS Group Limited
Kumho P&B Chemicals Inc. (Kumho Petrochemical Co. Ltd.)
Mitsui Chemicals Inc.
PTT Global Chemical Public Company Limited
Sasol Limited
Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
Shell plc
Solvay S.A
Thermo Fisher Scientific Inc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Application Insights:
Methyl Methacrylate (MMA)
Bisphenol A (BPA)
Solvents
Others
Grade Insights:
Specialty Grade
Technical Grade
Distribution Channel Insights:
Manufacturer to Distributor
Manufacturer to End-User
End Use Industry Insights:
Cosmetics and Personal Care
Electronics
Automotive
Pharmaceutical
Paints, Coatings and Adhesives
Textile Industry
Others
Breakup by Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=6820&flag=C
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
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Country: United States
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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