North America 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 Country and Growth Forecast, 2023 - 2030
The North America Acetone Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,193.0 Kilo Tonnes, showcasing a growth of 4.5% (2019-2022).
In pharmaceutical manufacturing, acetone is employed for extracting and purifying certain drugs. It is also used in the production of medicines and as a component in various pharmaceutical formulations. Acetone is frequently used in nail polish removers because of its ability to dissolve nail polish. Additionally, it finds applications in personal care products, showcasing its versatility beyond industrial uses. Acetone's exceptional solvent properties make it suitable for dissolving various substances, including oils, resins, and polymers. This characteristic is fundamental to its applications in the chemical industry.
Acetone serves as a crucial intermediate chemical in the synthesis of many compounds. Its reactivity and ability to undergo various chemical reactions make it a valuable building block in producing diverse chemicals. The cosmetic industry extensively uses acetone in nail polish removers. Its effectiveness in removing nail polish quickly without damaging the nails has made it a staple in personal care products. Acetone finds use in the pharmaceutical industry for extracting and purifying certain drugs. Its role in drug manufacturing underscores its importance in the healthcare sector.
As per the International Trade Administration, the US automotive industry is one of the world's largest. In 2020, the United States sold 14.5 million light vehicles. The United States is the world's second-largest vehicle sales and production region. According to Autos Drive America, global automakers produced 5 million vehicles in the United States in 2020. As the US's automotive sector experiences growth and innovation, the demand for high-quality coatings may contribute to increased acetone usage. Due to these aspects, the market will expand across the North America region in upcoming years.
The US market dominated the North America Acetone Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,586.3 Million by 2030. The Canada market is exhibiting a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7% during (2023 - 2030).
Based on Application, the market is segmented into Solvents, Bisphenol A, Methyl Methacrylate, and Others. Based on Grade, the market is segmented into Technical Grade, and Specialty Grade. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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
- Technical Grade
- Specialty Grade
- US
- Canada
- Mexico
- Rest of North America
- 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 North America Acetone Market, by Application
- 1.4.2 North America Acetone Market, by Grade
- 1.4.3 North America Acetone Market, by Country
- 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. North America Acetone Market by Application
- 4.1 North America Solvents Market by Country
- 4.2 North America Bisphenol A Market by Country
- 4.3 North America Methyl Methacrylate Market by Country
- 4.4 North America Others Market by Country
- Chapter 5. North America Acetone Market by Grade
- 5.1 North America Technical Grade Market by Country
- 5.2 North America Specialty Grade Market by Country
- Chapter 6. North America Acetone Market by Country
- 6.1 US Acetone Market
- 6.1.1 US Acetone Market by Application
- 6.1.2 US Acetone Market by Grade
- 6.2 Canada Acetone Market
- 6.2.1 Canada Acetone Market by Application
- 6.2.2 Canada Acetone Market by Grade
- 6.3 Mexico Acetone Market
- 6.3.1 Mexico Acetone Market by Application
- 6.3.2 Mexico Acetone Market by Grade
- 6.4 Rest of North America Acetone Market
- 6.4.1 Rest of North America Acetone Market by Application
- 6.4.2 Rest of North America 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
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