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Surging Demand For Personal Care Products Ignites Acetone Market Growth Driver: Leading Transformation in the Acetone Market in 2025
Acetone Market Size
The acetone market is being propelled by the growing demand for personal care products. These consumer goods, used for sanitation, grooming, and enhancing beauty, often contain acetone as a critical chemical ingredient, thus boosting acetone consumption. For example, Circana, Inc., an American media corporation, reported that by August 2023, sales of prestige beauty products in the US had risen by 15% from the same period in 2022, grossing $14 billion in the first half of the year. Meanwhile, the mass beauty market garnered $28 billion with a 9% increase. Consequently, the amplified demand for personal care items is expected to fuel the acetone market's expansion.
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How will the growth rate of the acetone market shape industry trends by 2034?
The acetone market's dimension has observed a consistent increase in the previous years. It is projected to expand from $5.32 billion in 2024 to $5.53 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 3.8%. The growth experienced during the historical period links back to the increasing demand in chemical manufacturing, solvent and paint sector, plastic and resin production, pharmaceuticals and cosmetics use, and the growth of the chemical and petrochemical industries.
In the coming years, the acetone market size is predicted to experience consistent growth, expanding to $6.48 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 4.0%. The projected increase for this period can be ascribed to several factors such as the increase in its application in solvents and coatings, demand from the plastics and resins industry, augmented use in pharmaceuticals and cosmetics, and increased utilization in the production of industrial cleaning products, along with worldwide economic growth. The forecast period is likely to witness key trends that include shifts in consumer tastes and industrial acceptance, market globalization and economic influences, a surge in the demand for industrial cleaning products, a move towards embracing green chemistry, and pressure from environmental and regulatory authorities.
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What trends are poised to drive the future success of the acetone market?
A significant trend that is gaining traction in the acetone market is product innovation. Major players in the market are prioritizing research and development for the creation of innovative products in order to maintain their market standing. For example, INEOS Phenol GmbH, a company based in Germany that manufactures phenol and acetone, introduced the INVIRIDISTM in June 2022. The INVIRIDISTM is an innovative product line for phenol, acetone alpha-methyl styrene (AMS), produced without the use of fossil fuels as raw materials. It uses bio-attributed cumene as its main component, allowing for the replacement of fossil fuels and contributing to a smaller carbon footprint than traditional production of phenol, acetone, and AMS. Through this process, it facilitates a 100% replacement of fossil feedstock, using the mass balance method, in its production cycle.
Which primary segments of the acetone market are driving growth and industry transformations?
The acetone market covered in this report is segmented -
1) By Grade: Specialty Grade Acetone, Technical Grade Acetone
2) By Distribution Channel: Manufacturer To Distributor, Manufacturer To End-User
3) By Application: Bisphenol A, Methyl Methacrylate (MMA), Solvents, Methyl Isobutyl ket*one, Other Applications,
4) By End-User: Paints, Coatings, And Adhesives, Electronics, Cosmetics And Personal Care, Pharmaceutical, Other End-user
Subsegments:
1) By Specialty Grade Acetone: Electronics Grade Acetone, Pharmaceutical Grade Acetone, Cosmetic Grade Acetone
2) By Technical Grade Acetone: Industrial Grade Acetone, Laboratory Grade Acetone
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Which geographical regions are pioneering growth in the acetone market?
Asia-Pacific was the largest region in the acetone market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the acetone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the acetone market landscape?
Major companies operating in the acetone market include INEOS Phenol GmbH, Royal Dutch Shell plc, Honeywell International Inc., Prasol Chemicals Limited, Mitsui Chemicals Inc., Kumho P&B Chemicals Inc., Saudi Basic Industries Corporation., LyondellBasell Industries Holdings B.V., ALTIVIA Chemicals LLC, Domo Chemicals GmbH, Formosa Chemicals & Fibre Corp, Borealis AG, Reliance Industries Limited, CEPSA Quimica S.A, Arkema S.A., Celanese Corporation, The Dow Chemical Company, LG Chem Ltd., Deepak Nitrite Limited, PTT Global Chemical Public Company Limited, China National Petroleum Corporation, Dairen Chemical Corporation, Chevron Phillips Chemical Company LLC, Versalis S.p.A., Daicel Corporation, JX Nippon Oil & Energy Corporation, PetroChina Company Limited, Lihuayi Group Co. Ltd., SunVic Chemical Holdings Limited, A.B. Enterprises, Wuhan Youji Industries Co. Ltd., Tangshan Lory Industry Co. Ltd., Aadi Industries Ltd.
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What Is Covered In The Acetone Global Market Report?
• Market Size Forecast: Examine the acetone market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the acetone market for a structured understanding.
• Key Players Overview: Analyze major players in the acetone market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the acetone market.
• Segment Contributions: Evaluate how different segments drive overall growth in the acetone market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the acetone market.
• Industry Challenges: Identify potential risks and obstacles affecting the acetone market.
• Competitive Landscape: Review strategic developments in the acetone market, including expansions, agreements, and new product launches.
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