Press release
Key Trends Influencing the Growth of the Acetone Market in 2025: Ineos Phenol Unveils Inviridistm, Redefining Acetone Production
Acetone
What Is the Expected CAGR for the Acetone Market Through 2025?
In recent times, the acetone market has witnessed a consistent expansion. The market value is projected to rise from $5.32 billion in 2024 to $5.53 billion in 2025, with a compound annual growth rate (CAGR) of 3.8%. This growth noticed over the past years is due to factors such as the demand in chemical production, solvent and paint sector, resin and plastic manufacturing, uses in pharmaceutical and cosmetics, and the development of chemical and petrochemical sectors.
What's the Projected Size of the Global Acetone Market by 2029?
In the years to come, the acetone market is projected to experience a consistent expansion, reaching a market value of $6.48 billion in 2029, which indicates a compound annual growth rate (CAGR) of 4.0%. Several reasons are identified for the projected growth during the forecast period, including the increasing use in solvents and coatings, a soaring demand from the plastics and resins industry, a growing uptake in pharmaceutical and cosmetic applications, and its widening use in industrial cleaning products, all underpinned by global economic growth. Key market trends anticipated during the forecast period include changes in consumer preferences and industry adoption patterns, market globalization and related economic factors, a surge in the demand for industrial cleaning products, a transition towards green chemistry, and intensifying environmental and regulatory pressures.
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Top Growth Drivers in the Acetone Industry: What's Accelerating the Market?
The acetone market is experiencing growth due to the rising demand for personal care products. These are consumer goods that are consumed for grooming, cleanliness, and aesthetic enhancement. Acetone, a key chemical constituent in these products, is responsible for the increased demand. For example, Circana, Inc., an American media corporation, reported in August 2023 that the sales of high-end beauty products in the US had hit $14 billion in the first half of 2023. This marked a 15% increase from the same timeframe in 2022. Concurrently, the mass beauty market accumulated $28 billion, indicating a growth of 9%. Thus, the escalating demand for personal care merchandise will significantly boost the acetone market's expansion.
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What Trends Will Shape the Acetone Market Through 2029 and Beyond?
The surge in product innovation is an emerging trend in the acetone market. Leading enterprises operating in this industry are heavily investing in research and development to create innovative products, thus maintaining their market dominance. For instance, INEOS Phenol GmbH, a German-based phenol, and acetone producer, unveiled the INVIRIDISTM in June 2022. This innovative bio-attributed product line, which includes phenol, acetone alpha-methyl styrene (AMS), is manufactured without using fossil fuels as feedstock. INVIRIDISTM uses bio-attributed cumene, facilitating the replacement of fossil fuel resources and consequently reducing the carbon footprint compared to traditionally produced phenol, acetone, and AMS. This allows for a complete (100%) switch from fossil feedstock (mass balance approach) in its manufacturing process.
What Are the Main Segments in the Acetone Market?
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 ne, 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 Top Companies are Driving Growth in the Acetone Market?
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.
Which Regions Will Dominate the Acetone Market Through 2029?
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
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