Global Acetone Market Size, Share & Industry Trends Analysis Report By Application (Solvents, Bisphenol A, Methyl Methacrylate, and Others), By Grade (Technical Grade, and Specialty Grade), By Regional Outlook and Forecast, 2023 - 2030

Global Acetone Market Size, Share & Industry Trends Analysis Report By Application (Solvents, Bisphenol A, Methyl Methacrylate, and Others), By Grade (Technical Grade, and Specialty Grade), By Regional Outlook and Forecast, 2023 - 2030


The Global Acetone Market size is expected to reach $9.6 billion by 2030, rising at a market growth of 7.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,442.1 Kilo Tonnes experiencing a growth of 5.1% (2019-2022).

As a versatile solvent, acetone is extensively used in chemical processes for dissolving and processing various substances. Its role as a solvent is crucial in the formulation of coatings, adhesives, and specialty chemicals, supporting the growth of the chemical industry. Therefore, Solvents segment generated $1,855.7 million revenue in the market in 2022. Acetone is a key component in producing polymers, including polycarbonates and acrylics. The expanding demand for polymers in sectors such as packaging, construction, and automotive directly contributes to the growth of the chemical and petrochemical industry and, subsequently, the market. Some of the factors impacting the market are growing pharmaceutical and healthcare applications, emerging bio-based acetone production and volatility in raw material prices.

The production of medical devices often involves the use of acetone in cleaning, sterilization, and the manufacturing of specific components. Acetone's properties make it suitable for ensuring the quality and safety of medical devices. Acetone is used to formulate topical and transdermal preparations, such as creams and gels. Its ability to dissolve and deliver active ingredients makes it valuable in dermatological and transdermal drug delivery applications. Acetone's role in various processes aligns with the requirements of emerging healthcare technologies. Additionally, Bio-based acetone production can be integrated into biorefinery processes, where various bio-based products are derived from biomass feedstocks. This integrated approach enhances the overall efficiency and sustainability of the production process. There is a growing demand in the market for green and sustainable chemicals. Bio-based acetone addresses this demand by offering a renewable and eco-friendly alternative to conventional acetone, attracting environmentally conscious consumers and industries. Therefore, growing pharmaceutical and healthcare applications have been a pivotal factor in driving the growth of the market and as a result of the emerging bio-based acetone production, the market is anticipated to increase significantly.

However, Acetone is traditionally produced as a byproduct of phenol production, and the phenol industry influences its pricing. Fluctuations in raw material prices, such as benzene and propylene, can impact the overall cost of acetone production. This volatility poses challenges for manufacturers in managing production costs and pricing strategies. Sharp and unpredictable increases in raw material prices can pressure the profit margins of acetone manufacturers. Manufacturers may have difficulty maintaining competitive pricing if the cost of making acetone rises significantly due to increasing raw material prices. Volatility in raw material prices is a significant challenge that hampers the growth of the market.

Application Outlook

By application, the market is categorized into solvents, methyl methacrylate, bisphenol A, and others. The methyl methacrylate segment covered a considerable revenue share in the market in 2022. Methyl methacrylate (MMA) synthesis often involves solvents, and acetone is a common solvent. The growth in demand for MMA can lead to an increased demand for acetone as a solvent in MMA production, positively influencing the market segment. Polymers derived from MMA find applications in medical devices, including dentures, orthopedic implants, and prosthetics. As advancements in medical technology drive the demand for these applications, the segment can experience a corresponding uplift due to its role in synthesizing MMA and related materials.

Grade Outlook

Based on grade, the market is classified into technical grade and specialty grade. In 2022, the technical grade segment witnessed the largest revenue share in the market. Technical-grade acetone is a versatile and efficient industrial solvent in manufacturing processes across different industries. Its ability to dissolve many substances makes it indispensable in producing chemicals, plastics, pharmaceuticals, and other technical applications. Technical-grade acetone finds applications in the automotive and electronics industries. Technical-grade acetone is a key component in the production of polymers and plastics. Its role in dissolving and processing polymer materials, such as polycarbonates, contributes to manufacturing lightweight and durable products. The demand for polymers and plastics uplifts the technical-grade segment

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The construction and infrastructure development in countries like China, India, and Southeast Asia involve using coatings, adhesives, and construction materials where acetone is a key ingredient. Expanding construction activities in the Asia-Pacific region is a factor in the rising demand for acetone. The Asia Pacific automotive industry is growing quickly, fueling the demand for lightweight coatings and materials. Asia Pacific is a major hub for producing consumer goods, such as household goods, cosmetics, and personal care products.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include INEOS Group Holdings S.A., Shell plc, Honeywell International, Inc., Mitsui Chemicals, Inc., SABIC (Saudi Arabian Oil Company), Arkema S.A., Solvay SA, Domo Chemicals GmbH, Cepsa Química, S.A. (CEPSA) and Kumho P&B Chemicals., Inc (Kumho Petrochemical Group).

Scope of the Study

Market Segments covered in the Report:

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Solvents
  • Bisphenol A
  • Methyl Methacrylate
  • Others
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Technical Grade
  • Specialty Grade
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • Russia
  • UK
  • France
  • Italy
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • INEOS Group Holdings S.A.
  • Shell plc
  • Honeywell International, Inc.
  • Mitsui Chemicals, Inc.
  • SABIC (Saudi Arabian Oil Company)
  • Arkema S.A.
  • Solvay SA
  • Domo Chemicals GmbH
  • Cepsa Química, S.A. (CEPSA)
  • Kumho P&B Chemicals., Inc (Kumho Petrochemical Group)
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Acetone Market, by Application
1.4.2 Global Acetone Market, by Grade
1.4.3 Global Acetone Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Force Analysis
Chapter 4. Global Acetone Market by Application
4.1 Global Solvents Market by Region
4.2 Global Bisphenol A Market by Region
4.3 Global Methyl Methacrylate Market by Region
4.4 Global Others Market by Region
Chapter 5. Global Acetone Market by Grade
5.1 Global Technical Grade Market by Region
5.2 Global Specialty Grade Market by Region
Chapter 6. Global Acetone Market by Region
6.1 North America Acetone Market
6.1.1 North America Acetone Market by Application
6.1.1.1 North America Solvents Market by Country
6.1.1.2 North America Bisphenol A Market by Country
6.1.1.3 North America Methyl Methacrylate Market by Country
6.1.1.4 North America Others Market by Country
6.1.2 North America Acetone Market by Grade
6.1.2.1 North America Technical Grade Market by Country
6.1.2.2 North America Specialty Grade Market by Country
6.1.3 North America Acetone Market by Country
6.1.3.1 US Acetone Market
6.1.3.1.1 US Acetone Market by Application
6.1.3.1.2 US Acetone Market by Grade
6.1.3.2 Canada Acetone Market
6.1.3.2.1 Canada Acetone Market by Application
6.1.3.2.2 Canada Acetone Market by Grade
6.1.3.3 Mexico Acetone Market
6.1.3.3.1 Mexico Acetone Market by Application
6.1.3.3.2 Mexico Acetone Market by Grade
6.1.3.4 Rest of North America Acetone Market
6.1.3.4.1 Rest of North America Acetone Market by Application
6.1.3.4.2 Rest of North America Acetone Market by Grade
6.2 Europe Acetone Market
6.2.1 Europe Acetone Market by Application
6.2.1.1 Europe Solvents Market by Country
6.2.1.2 Europe Bisphenol A Market by Country
6.2.1.3 Europe Methyl Methacrylate Market by Country
6.2.1.4 Europe Others Market by Country
6.2.2 Europe Acetone Market by Grade
6.2.2.1 Europe Technical Grade Market by Country
6.2.2.2 Europe Specialty Grade Market by Country
6.2.3 Europe Acetone Market by Country
6.2.3.1 Germany Acetone Market
6.2.3.1.1 Germany Acetone Market by Application
6.2.3.1.2 Germany Acetone Market by Grade
6.2.3.2 Russia Acetone Market
6.2.3.2.1 Russia Acetone Market by Application
6.2.3.2.2 Russia Acetone Market by Grade
6.2.3.3 UK Acetone Market
6.2.3.3.1 UK Acetone Market by Application
6.2.3.3.2 UK Acetone Market by Grade
6.2.3.4 France Acetone Market
6.2.3.4.1 France Acetone Market by Application
6.2.3.4.2 France Acetone Market by Grade
6.2.3.5 Italy Acetone Market
6.2.3.5.1 Italy Acetone Market by Application
6.2.3.5.2 Italy Acetone Market by Grade
6.2.3.6 Netherlands Acetone Market
6.2.3.6.1 Netherlands Acetone Market by Application
6.2.3.6.2 Netherlands Acetone Market by Grade
6.2.3.7 Rest of Europe Acetone Market
6.2.3.7.1 Rest of Europe Acetone Market by Application
6.2.3.7.2 Rest of Europe Acetone Market by Grade
6.3 Asia Pacific Acetone Market
6.3.1 Asia Pacific Acetone Market by Application
6.3.1.1 Asia Pacific Solvents Market by Country
6.3.1.2 Asia Pacific Bisphenol A Market by Country
6.3.1.3 Asia Pacific Methyl Methacrylate Market by Country
6.3.1.4 Asia Pacific Others Market by Country
6.3.2 Asia Pacific Acetone Market by Grade
6.3.2.1 Asia Pacific Technical Grade Market by Country
6.3.2.2 Asia Pacific Specialty Grade Market by Country
6.3.3 Asia Pacific Acetone Market by Country
6.3.3.1 China Acetone Market
6.3.3.1.1 China Acetone Market by Application
6.3.3.1.2 China Acetone Market by Grade
6.3.3.2 India Acetone Market
6.3.3.2.1 India Acetone Market by Application
6.3.3.2.2 India Acetone Market by Grade
6.3.3.3 Japan Acetone Market
6.3.3.3.1 Japan Acetone Market by Application
6.3.3.3.2 Japan Acetone Market by Grade
6.3.3.4 South Korea Acetone Market
6.3.3.4.1 South Korea Acetone Market by Application
6.3.3.4.2 South Korea Acetone Market by Grade
6.3.3.5 Indonesia Acetone Market
6.3.3.5.1 Indonesia Acetone Market by Application
6.3.3.5.2 Indonesia Acetone Market by Grade
6.3.3.6 Australia Acetone Market
6.3.3.6.1 Australia Acetone Market by Application
6.3.3.6.2 Australia Acetone Market by Grade
6.3.3.7 Rest of Asia Pacific Acetone Market
6.3.3.7.1 Rest of Asia Pacific Acetone Market by Application
6.3.3.7.2 Rest of Asia Pacific Acetone Market by Grade
6.4 LAMEA Acetone Market
6.4.1 LAMEA Acetone Market by Application
6.4.1.1 LAMEA Solvents Market by Country
6.4.1.2 LAMEA Bisphenol A Market by Country
6.4.1.3 LAMEA Methyl Methacrylate Market by Country
6.4.1.4 LAMEA Others Market by Country
6.4.2 LAMEA Acetone Market by Grade
6.4.2.1 LAMEA Technical Grade Market by Country
6.4.2.2 LAMEA Specialty Grade Market by Country
6.4.3 LAMEA Acetone Market by Country
6.4.3.1 Brazil Acetone Market
6.4.3.1.1 Brazil Acetone Market by Application
6.4.3.1.2 Brazil Acetone Market by Grade
6.4.3.2 Argentina Acetone Market
6.4.3.2.1 Argentina Acetone Market by Application
6.4.3.2.2 Argentina Acetone Market by Grade
6.4.3.3 UAE Acetone Market
6.4.3.3.1 UAE Acetone Market by Application
6.4.3.3.2 UAE Acetone Market by Grade
6.4.3.4 Saudi Arabia Acetone Market
6.4.3.4.1 Saudi Arabia Acetone Market by Application
6.4.3.4.2 Saudi Arabia Acetone Market by Grade
6.4.3.5 South Africa Acetone Market
6.4.3.5.1 South Africa Acetone Market by Application
6.4.3.5.2 South Africa Acetone Market by Grade
6.4.3.6 Nigeria Acetone Market
6.4.3.6.1 Nigeria Acetone Market by Application
6.4.3.6.2 Nigeria Acetone Market by Grade
6.4.3.7 Rest of LAMEA Acetone Market
6.4.3.7.1 Rest of LAMEA Acetone Market by Application
6.4.3.7.2 Rest of LAMEA Acetone Market by Grade
Chapter 7. Company Profiles
7.1 INEOS Group Holdings S.A.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Product Launches and Product Expansions:
7.1.5 SWOT Analysis
7.2 Shell plc
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 SWOT Analysis
7.3 Honeywell International, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 SWOT Analysis
7.4 Mitsui Chemicals, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 SWOT Analysis
7.5 SABIC (Saudi Arabian Oil Company)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 SWOT Analysis
7.6 Arkema S.A.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Acquisition and Mergers:
7.6.5 SWOT Analysis
7.7 Solvay SA
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 SWOT Analysis
7.8 Domo Chemicals GmbH
7.8.1 Company Overview
7.8.2 SWOT Analysis
7.9 Cepsa Química, S.A. (CEPSA)
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Recent strategies and developments:
7.9.4.1 Product Launches and Product Expansions:
7.9.5 SWOT Analysis
7.10. Kumho P&B Chemicals., Inc (Kumho Petrochemical Group)
7.10.1 Company Overview
7.10.2 SWOT Analysis
Chapter 8. Winning Imperative of Acetone Market

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