Global Acetone Market By Application Overview
Acetone is forms of the ketone. Acetone is a clear and colorless liquid with a distinct sweet odor. Acetone is used in production of chemicals methyl methacrylate (MMA) and bisphenol A (BPA). Acetone is also used as a solvent in the manufacturing many chemicals. Methyl methacrylate (MMA) is used for the production of PVC (poly vinyl chloride) as an intermediate. MMA is majorly used in the cosmetic industry, owing to its excellent properties such as high flexibility as well as strength. Bisphenol A (BPA) is used in the production of epoxy and polycarbonate resin, which finds wide applications in the medical sector. Acetone is one of the simplest forms of ketone. Acetone can be commonly found as a clear and colorless liquid with a distinct sweet odor. Acetone is a key ingredient in production of methyl methacrylate (MMA) and bisphenol A (BPA). Methyl methacrylate (MMA) is further used as an intermediate in production of PVC (poly vinyl chloride). Acetone is also used in production of polycarbonate which is an essential raw material for insulation of electrical applications.
Acetone Market accounted for US$ 4.44 billion in 2020 and is estimated to be US$ 7.41 billion by 2030 and is anticipated to register a CAGR of 5.30%.
Global Acetone Market By Application Drivers & Restraints
Increasing adoption of acetone
Increasing adoption of acetone from various end-use industries such as automotive, pharmaceuticals, and paints & coatings particularly in the developing countries is a primary factor expected to drive growth of the global acetone market over the forecast period.
Rising electronics sector across the globe
In addition, rising electronics sector across the globe which in turn creating demand for the methyl methacrylate which is synthesized using acetone for flat screens, DVD’s, compact discs, and laser discs is a factor expected to boost growth of the target market in next 10 years.
According to India Brand Equity Foundation data for 2018, estimated that exports of consumer electronics from India reached US$ 362.11 million in 2017-18. Increasing R&D investments by manufacturers operating in the target market, in order to gain competitive edge is expected to support growth of the global acetone market in near future.
Global Acetone Market By Application Segmentations & Regional Insights
Acetone Market has been segmented on the basis of source, application, end-user, and region.
On the basis of source, the target market is classified into municipal waste, biomass, and industrial waste. Based on application, the global market is bifurcated into formaldehyde, MTBE, gasoline, dimethyl ether, and solvents. On the basis of end-user, the Global Acetone Market is sub segmented as construction, chemicals, transportation, and power generation.
Regional Insights:
For detailed understanding of market dynamics, on the basis of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to account for major revenue share in global acetone market, in 2018, followed by markets in other region. This can be attributed to rising demand for polycarbonate in automotive industry from countries especially from China and India of the region, which has led to increase in the demand for bisphenol A (BPA), which in turn expected to support robust demand for acetone in the near future, as acetone is a precursor in the production of BPA.
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
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Market Segmentation |
By Application- Methyl Methacrylate, Bisphenol A, and Solvent By End-User- Pharmaceuticals, Personal Care, Paints & Coatings, Plastics, Construction, and Electrical & Electronics |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Detailed Segmentation:
Acetone Market, By Region:
- North America
- Middle East & Africa
- Middle East & Africa Global Acetone Market, By Application
- Middle East & Africa Global Acetone Market, By End-User
- Middle East & Africa Global Acetone Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Latin America Global Acetone Market, By Application
- Latin America Global Acetone Market, By End-User
- Latin America Global Acetone Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- Asia Pacific Global Acetone Market, By Application
- Asia Pacific Global Acetone Market, By End-user
- Asia Pacific Global Acetone Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Europe Global Acetone Market, By Application
- Europe Global Acetone Market, By End-User
- Europe Global Acetone Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- North America Global Acetone Market, By Application
- North America Global Acetone Market, By End-User
- North America Global Acetone Market, By Country
- Canada
- Middle East & Africa
Global Acetone Market By Application Competitive Landscape & Key Players
Advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the Global Acetone Market. Some of the prominent players operating in the acetone market include INEOS Phenol, Sunoco LP, Mitsui & Co., Ltd., Royal Dutch Shell Plc., SINOPEC Shanghai Petrochemical Co., Ltd., DOW Chemical Co., CEPSA Quimica, S.A., U.S. Chemicals LLC, Formosa Chemicals &Fibre Corp, Minda Corp., EMCO Chemical Distributors, ConChemCo, and Prasol Chemicals Pvt. Ltd. Technological advancements in the manufacturing process, coupled with increase in the production capacity are some trends witnessed in the global acetone market.
In October 2018, for instance, the INEOS Phenol, largest producer of phenol and acetone in the world, announced that INEOS Phenol is planning to expand the capacity of its plant in Mobile, Alabama (US) up to 850,000 metric tons per year (m.t./yr), making it the largest phenol production unit in the world.
Global Acetone Market By Application Company Profile
- INEOS Phenol.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- Sunoco LP
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- Mitsui & Co., Ltd.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- Royal Dutch Shell Plc.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- SINOPEC Shanghai Petrochemical Co., Ltd.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- DOW Chemical Co.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- CEPSA Quimica, S.A.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- U.S. Chemicals LLC
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- Formosa Chemicals &Fibre Corp
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- Minda Corp.
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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- EMCO Chemical Distributors
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- Company Overview
- Application Portfolio
- Key Highlights
- Financial Performance
- Business Strategies Overview
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Global Acetone Market By Application Highlights
FAQs
Acetone Market report segments the market on the basis of application, end-user and region.
Increasing adoption of acetone from various end-use industries such as automotive, pharmaceuticals, and paints & coatings particularly in the developing countries is a primary factor expected to drive growth of the global acetone market over the forecast period.
Asia-Pacific dominated the worldwide market of renewable methanol during the forecast year.
Some of the prominent players operating in the acetone market include INEOS Phenol, Sunoco LP, Mitsui & Co., Ltd., Royal Dutch Shell Plc., SINOPEC Shanghai Petrochemical Co., Ltd., DOW Chemical Co., CEPSA Quimica, S.A., U.S. Chemicals LLC, Formosa Chemicals &Fibre Corp, Minda Corp., EMCO Chemical Distributors, ConChemCo, and Prasol Chemicals Pvt. Ltd.