Acetone Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Process, Demand & Supply, Typer Industries, Distribution Channel, Regional Demand, 2015-2030

Format: Online | Last Updated: Nov 2021

[Online Quarterly Update] Acetone demand stood at 7.44 million tonnes in 2020 and is forecast to reach 13.09 million tonnes by 2030, growing at a healthy CAGR of 5.60% until 2030. Acetone is a colorless, volatile, and versatile component that is widely used as a primary ingredient in various industries. The sudden outbreak of the global COVID-19 pandemic resulted in overwhelming demand for acetone at the beginning of the pandemic, driven by the rise in demand for hygienic products utilizing derivative Isopropyl Alcohol (IPA) as a prime feedstock. More than 95 percent of the total Acetone produced in the world comes as a by-product of Phenol so the low demand for the solvent as an outcome of temporary turnarounds in the automotive and construction sector compelled Phenol/ Acetone manufacturer to reduce their capacity utilization, which directly affected the acetone market. However, as COVID-19 started to affect the major end-user industries, such as cosmetics and personal care, paints and coatings, automobile industries, the decline in sales due to the pandemic effect weakened the demand for acetone for a short period. Furthermore, halt in automotive production, as well as construction activities, also reduced the demand for widely used industrial chemicals such as BPA and MMA during 2020. On the flip side, the rise in the demand for numerous drugs, medication, and sanitization products fueled the market growth of acetone.
 
The global Acetone market is divided into solvents, BPA, and Methyl Methacrylate (MMA Production of Acetone is largely achieved via cumene peroxidation followed by dehydrogenation of isopropanol and few other low scale processes). Market players anticipate healthy growth for Acetone during the forecast period as the industry prompts rising demand for derivative Isopropyl Alcohol, for the manufacturing of sanitizers and disinfectants. Demand is anticipated to increase in the near future on account of rising awareness over hygiene and cleanliness, influenced by the ripple effects of coronavirus. To combat the surge in demand, leading global Acetone producers like INEOS and DOW chemicals are ramping up their production capacities and setting up new units of cumene to assist the world in tough times of the Pandemic. Moreover, companies engaged in the downstream utilization of Acetone products like BPA and MMA are eyeing to expand their business by several mergers and acquisitions, hence, creating immense scope for the growth of the global Acetone Market in the next ten years.
 
Acetone Production is majorly concentrated in China, the USA, Taiwan, South Korea, and the western European region. Asia Pacific region witnessed an overwhelming growth for Acetone in 2020 and is further anticipated to contribute maximum consumption share in the forecast period owing to rapidly expanding pharmaceutical and electronics sectors. Moreover, the addition of Phenol/Acetone capacities in China in recent years will result in reduced dependency on imports and make it self-reliable. Furthermore, India is also expected to ramp up its domestic production in the coming years as it has imposed anti-dumping duties on Acetone imports from South Korea, Saudi Arabia, and China. 
 
Some of the major players operating in global Acetone market are Cepsa Corporation, Kumho shell, PTTGC., Formosa Chemicals and Fibre Corporation., Taiwan Prosperity Chemical Corp (TPCC)., Deepak Nitirite Ltd., LG Chem, Mitsui Chemicals Inc., DOW Chemicals, Sabic Innovative Plastics, Shell are some of the leading players operating in the Global Acetone market., and others
 
Years Considered for this Report:
 
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
 
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Objective of the Study: 
 
• The primary objective of the study was to evaluate and forecast Acetone capacity, production, demand and demand – supply gap globally. 
• To categorize Acetone demand based on grade, Type, application, region and sales channel.
• To study company shares in Global Acetone market.
• To identify major customers of Acetone globally.
• To evaluate and forecast Acetone pricing in Global Acetone market.
• To identify and profile major companies operating in Global Acetone market.
• To identify major news, deals and expansion plans in Global Acetone market.
 
 
To extract data for Acetone market, primary research surveys were conducted with Emulsifier manufacturers, suppliers, distributors, wholesalers and Typers. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various Typer segments and projected a positive outlook for Acetone market over the coming years. 
 
ChemAnalyst calculated Acetone demand globally by analyzing the historical data and demand forecast which was carried out considering imported Isocyanate, styrene prices, monomers used for production of Isocyanate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
 
Key Target Audience:
 
• Acetone manufacturers and other stakeholders
• Organizations, forums and alliances related to Acetone distribution
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
 
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acetone manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
 
Report Scope:
 
In this report, Acetone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
 
Attribute
Details
Market size volume in 2020
7.44 million tons
Market size volume in 2030
13.09 million tons
Growth Rate
CAGR of 5.60% from 2021 to 2030
Base year for estimation
2020
Historic Data
2015 – 2019
Forecast period
2022 – 2030
Quantitative units
Demand in tons and CAGR from 2021 to 2030
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
By Type: (Solvents, Methyl Methacrylate (MMA), Bisphenol A, others)
By Application: (Pharmaceuticals, Adhesives, Cosmetics, Paint, Automotive and coatings)
By Sales Channel: (Direct/Institutional Sales, Indirect Sales)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Cepsa Corporation, Kumho shell, PTTGC., Formosa Chemicals and Fibre Corporation., Taiwan Prosperity Chemical Corp (TPCC)., Deepak Nitirite Ltd., LG Chem, Mitsui Chemicals Inc., DOW Chemicals, Sabic Innovative Plastics, Shell are some of the leading players operating in the Global Acetone market., and others
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needsExplore purchase options
 
 Available Customizations:
 
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
 
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com

Frequently Asked Questions (FAQ):

What are the major applications of Acetone? 

Acetones are widely used in pharmaceuticals, adhesives, automotive, cosmetics, paint, coatings and others. 

Which region demands the maximum share in the global Acetone market as of 2020?

Asia Pacific region demands the maximum share in the global Acetone market. 

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