Press release
Acetone Market Size is Expected to Reach USD 12.2 Billion by 2033
Acetone Market Share
Acetone Market Overview
The global acetone market size reached USD 7.6 Billion in 2024 and is expected to grow to USD 12.2 Billion by 2033, exhibiting a CAGR of 5.12% during the forecast period 2025-2033. Key growth drivers include the extensive use of acetone across various industrial verticals, rising demand for plastics, increased product usage in personal care, and rapid expansion in the automotive industry.
Study Assumption Years
● Base Year: 2024
● Historical Year/Period: 2019-2024
● Forecast Year/Period: 2025-2033
Acetone Market Key Takeaways
● Current Market Size: USD 7.6 Billion (2024)
● CAGR: 5.12%
● Forecast Period: 2025-2033
● The largest application segment is solvents, followed by methyl methacrylate (MMA) and bisphenol A (BPA).
● Technical grade acetone holds a larger market share compared to specialty grade.
● Distribution primarily occurs from manufacturer to end-user, which is the largest channel.
● Cosmetics and personal care represent the largest end use industry segment.
● Asia Pacific is the largest regional market, driven by
expansion in electronics, personal care, and R&D activities.
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Market Growth Factors
The global acetone market is primarily driven by its extensive use in industrial applications to manufacture polycarbonate, methyl methacrylate (MMA), and bisphenol A (BPA), essential derivatives used in food-grade bottles, translucent sheets, and poly (methyl methacrylate) (PMMA) for construction and infrastructure. The market's growth rate of 5.12% CAGR over 2025-2033 reflects strong demand across these sectors.
Following the COVID-19 pandemic outbreak, pharmaceutical companies increased the development of solvents, sanitizers, and disinfectants utilizing acetone and related materials, which has substantially fueled market demand. Additionally, the growing need for petrochemical products and the push for renewable acetone-based solutions as environmentally friendly alternatives further stimulate market expansion. These greener acetone products are favored for being non-toxic, non-corrosive, and non-carcinogenic, while also significantly reducing harmful emissions and environmental impact.
The personal care sector extensively incorporates acetone in nail polish removers, cleansing, and fragrance products, driving robust market demand. Its use in textile processing for degreasing wool and silk and automotive applications such as windows and lighting components also boost growth. Further influencing positive market forecasts are strong R&D activities, rising demand for beauty products, and the burgeoning electronics industry.
Market Segmentation
● Application:
● Methyl Methacrylate (MMA): Used to produce polymers like PMMA applied in constructional and infrastructural uses.
● Bisphenol A (BPA): Key component for manufacturing plastics such as polycarbonates.
● Solvents: Largest segment, utilized extensively across
various industries.
● Others: Additional unspecified applications.
● Grade:
● Specialty Grade: High purity grade used for specialized applications.
● Technical Grade: Accounts for the largest market share, used widely in industrial processes.
● Distribution Channel:
● Manufacturer to Distributor: Traditional supply chain route.
● Manufacturer to End-User: Largest segment, supplying directly to consumers and industries.
● End Use Industry:
● Cosmetics and Personal Care: Largest end use industry segment, involved in products like nail polish removers.
● Electronics: Usage in components manufacturing.
● Automotive: Utilized in windows, headlamps, and taillights.
● Pharmaceutical: Solvents and sanitizers production.
● Paints, Coatings and Adhesives: Use in formulation of various coatings.
● Textile Industry: For degreasing and lacquers.
● Others: Additional end use sectors.
Regional Insights
Asia Pacific is the dominant regional market for acetone, driven by significant expansion in the electronics industry, rising demand for personal care and cosmetic products, and extensive research and development activities. This region leads due to factors like robust industrial growth and consumer trends favoring acetone-based products.
Key Players
● Altivia
● Arkema S.A.
● Borealis AG (OMV Aktiengesellschaft)
● Compa n a Espa ola de Petr leos 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.
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