Acetone Market, By Application (MMA, BPA, Solvents), By Distribution Channel (Manufacturers to Distributors, Manufacturers to End-User), By Grade (Technical, Specialty), By Region - Global Analysis Forecast Till 2030

The Global Acetone Market size was estimated at USD 5.5 Billion in 2021 and is going to be around USD 10.1 Billion by 2030, growing at a CAGR of 7.9%.

The aliphatic ketone acetone is also known as 2-propanone or dimethyl ketone. Benzene is alkylated with propylene to produce cumene, which is then exposed to an air oxidation process to produce phenol and acetone. Phenol is typically integrated into acetone plants. The material is commonly used in producing Methyl Methacrylate (MMA), Bisphenol-A (BPA), solvents for oils, rubber, resins, lacquers, rubber, cement, fats, and waxes, and other chemicals.

BPA is also employed in producing polycarbonate, which is used in creating sunroofs, windows, taillights, and glasses, among other components for the automotive sector.

Market Dynamics

Drivers:

Acetone is used in the cosmetics industry as the main component of nail polish remover and as a solvent in skin cream products. In order to treat acne, it is also utilized for skin peeling. In the upcoming years, market growth is anticipated to be boosted by a rise in acetone demand in the aforementioned items.

The solvents application prevailed with a global revenue share of XX% in 2021. This is linked to the increase in demand for acetone, which is a crucial element in the production of hand sanitizer and as a medicine excipient. Acetone is used as a solvent by active fillers to ensure that each dose contains the proper medication dosage. The use of isopropyl alcohol (IPA) in the production of hand sanitizer is anticipated to increase demand for acetone as a raw material.

Restraints:

Acetone has low acute toxicity and is very flammable. Due to the acute eye irritation that exposure to acetone generates and the potential for sleepiness or dizziness, these problems may restrict the global acetone market. Another significant factor that is anticipated to restrain the growth of the global acetone market over the forecast period is the high cost of acetone.

The high solubility of the organic chemical in water may cause groundwater contamination, which would then cause environmental degradation that would affect human health. As the primary component used in the production of polycarbonates and epoxy resins, the European Commission increased controls on BPA are likely to impede the growth of the acetone market. Additionally, the market expansion for acetone may be hampered by the presence of alternatives in the market.

Opportunity:

The industry is anticipated to have new growth opportunities owing to the production of plastic resins. Acetone is a high-solubility solvent, making solvent-based paints and coatings more desirable and may present a business opportunity for the paints and coatings industry. Another major opportunity for the market to expand is the predicted sharp increase in the manufacturing of disinfectants and sanitizers.

Key players:

• INEOS Phenol GmbH

• Royal Dutch Shell Plc

• The Dow Chemical Company

• Honeywell Research Chemicals

• Prasol Chemicals Pvt., Ltd.

• Mitsui Chemicals Inc.

• CEPSA Quimica, S.A.

• Lynodell Basell Industries Inc.

• Kumho P&B Chemicals

• SABIC

• Thermo Fisher Scientific Inc.

• Arkema

• Solvay

Market Segmentation:

By Application

• Methyl Methacrylate (MMA)

• Bisphenol A (BPA)

• Solvents

• Others

By Distribution Channel

• Manufacturers to Distributors

• Manufacturers to End-User

By Grade

• Specialty Grade

• Technical Grade

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa (MEA)

Regional Analysis:

Although the United States is one of the top acetone consumers, laws may impact the demand for acetone as solvent. Additionally, it is projected that in the near future.

Expanding pharmaceutical product production is anticipated to be a key factor in driving the Asia-Pacific acetone market. The largest sector of acetone used in the nation is the pharmaceutical industry. With a domestic production of about 46 KT, India is a net importer of acetone.

Numerous plastics producers in Germany are a primary market driver for acetone. The nation is also a significant plastics consumer and a powerhouse for the automotive industry. The country's acetone market is predicted to experience slow expansion because of strict laws around BPA consumption.

Scope of the Report:

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