Press release
acetone market is Anticipated to Rise USD 12.2 Billion by 2033 | At CAGR 5.12%
Acetone Market Size
Acetone Market Overview
The global acetone market was valued at USD 7.6 Billion in 2024 and is projected to grow to USD 12.2 Billion by 2033, with a CAGR of 5.12% during the forecast period 2025-2033. This growth is driven by extensive use across varied industrial verticals, increasing demand for plastics, personal care applications, and automotive industry expansion. Acetone's versatility and applications in adhesives, textiles, and solvents contribute to the market demand.
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 in 2024
● CAGR: 5.12% (2025-2033)
● Forecast Period: 2025-2033
● Solvents represented the largest application segment in the acetone market.
● Technical grade acetone accounted for the largest market share among grades.
● The manufacturer to end-user distribution channel is the dominant segment.
● Cosmetics and personal care industry holds the largest share in end-use industries.
● Asia Pacific is the largest regional market, driven by electronics, personal care demand, and R&D activities.
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Market Growth Factors
The global acetone market is experiencing robust growth due to its extensive utilization across various industrial verticals to produce derivatives like polycarbonate, methyl methacrylate (MMA), and bisphenol A (BPA). These derivatives are essential in manufacturing food-grade bottles, cans, translucent sheets, and poly (methyl methacrylate) (PMMA) used extensively in construction and infrastructure applications. This diversified industrial use significantly drives market expansion.
Acetone's broad application in personal care products such as nail polish removers and fragrances, its use in textile processing for degreasing and lacquers, and its growing incorporation in automobile components including windows and lighting assemblies further bolster market growth. The surge in R&D activities and the expanding electronics industry contribute to a promising market outlook, indicating sustained demand growth.
Market Segmentation
Application:
● Methyl Methacrylate (MMA): Used to formulate PMMA for multiple construction applications.
● Bisphenol A (BPA): An essential intermediate for plastics
and resins.
● Solvents: Represent the largest segment, widely used across industries.
● Others: Include various minor applications beyond main segments.
Grade:
● Specialty Grade: Acetone tailored for specific industrial or cosmetic use.
● Technical Grade: Accounts for the largest market share due to broad industrial usage.
Distribution Channel:
● Manufacturer to Distributor: Intermediate sales channel segment.
● Manufacturer to End-User: Largest segment enabling direct customer supply.
End Use Industry:
● Cosmetics and Personal Care: Largest market share; acetone used in nail polish and cleansing products.
● Electronics: Significant usage in cleaning and manufacturing.
● Automotive: Used in manufacturing windows and lighting.
● Pharmaceutical: Solvents and intermediates for drug production.
● Paints, Coatings and Adhesives: Acetone as a solvent and chemical intermediate.
● Textile Industry: For degreasing wool, silk, and lacquers.
● Others: Various additional industrial applications.
Regional Insights
Asia Pacific is identified as the largest market region for acetone, underpinned by significant growth in the electronics sector, rising demand for personal care and cosmetic products, and extensive R&D activities. This regional market dominance reflects robust industrial expansion and increasing consumer product consumption, making Asia Pacific a critical growth area in the acetone market.
Key Players
● 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.
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