Selbyville, Delaware, Global Acetone Market size to reach USD 7.01 billion by 2027 and is valued approximately USD 4.88 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.3% over the forecast period 2021-2027.
Acetone is an organic solvent that is volatile, colourless, and flammable. It readily evaporates, is combustible, and dissolves in water. Acetone is used in the production of textiles, medicines, plastic, and other compounds.
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Rising demand for bio-based solvents is a major factor driving the acetone market. Acetone is increasingly being used in the textile sector to degrease wool and degum silk fueling the market growth for acetone. Also, high demand of solvents in pharmaceuticals industry has led the adoption of Acetone across the forecast period. According to the European Biomass Industry Association, the overall bio-based share in Europe increased from 12% in 2008 to 15% in 2015 and increase in the bio-based share of the chemical industry from about 6% in 2008 to 7% in 2015.
However, acetone flammability, low acute toxicity and acetone-related health concerns such as liver damage, vomiting, and blindness induced by exposure to acetone and high price of acetone hampers the growth of the market over the forecast period of 2021-2027. Also, rapidly growing use of acetone in personal care industry and use of sanitization products with acetone is likely to increase the market growth during the forecast period.
Major market player included in this report are:
- INEOS Phenol GmbH
- Mitsui Chemicals Inc
- The Dow Chemical Company
- Prasol Chemicals Pvt Ltd.
- Royal Dutch Shell PLC
- CEPSA Quimica, S.A.
- Thermo Fisher Scientific Inc
- LyondellBasell Industries Inc.
- Honeywell Research Chemicals
The global acetone market is segmented into main regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising demand for acetone in textile industries and cleaning products. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2021-2027. Factors such as rising disposable income, increasing use of acetone in cosmetic industry and surging demand for paints & coatings would create lucrative growth prospects for the acetone market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Methyl Methacrylate (MMA)
- Bisphenol A
- Other applications
By Distribution Channel:
- Manufacturer to Distributor
- Manufacturer to End-user
- Technical Grade
- Specialty Grade
Global Acetone Market: regional analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Acetone market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Furthermore, years considered for the study are as follows:
- Historical year – 2018, 2019
- Base year – 2020
- Forecast period – 2021 to 2027.
Some of the major questions addressed in the report are:
- What are the crucial factors driving the market?
- What shall be the expected growth acceleration and rate of the market during the forecasted timeframe?
- What was the market size value of the Acetone in 2020?
- What shall be the Acetone Market size by 2027?
- Which region shall account for the largest market share of the Acetone Industry?
- What are the market threats and opportunities considered by the vendors in the Acetone Market?
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