The India Acetone market has reached approximately 250 thousand tonnes in FY2022 and is anticipated to grow at a steady CAGR of 6.56% by FY2032. Recently, Ion Chemicals purchased SI Group’s manufacturing site situated at Navi Mumbai and other associated assets. Ion Chemicals is a Grammercy Trade Industrial Limited Company. The contract involves the transfer of ownership, most of the employees, and the continuation of the manufacturing processes.
Acetone is a highly volatile organic compound with the chemical formula (CH₃)₂CO. Honeywell UOP and KBR are two of the significant technologies employed by industries to manufacture acetone. Due to its high evaporation rate, acetone is widely employed as a solvent in various industries such as plastic manufacturing, skincare, nail polish, paints & coatings, varnishes, etc. In the industrial sector, acetone is frequently used to clean industrial equipment after use, removing buildup and preventing gumminess to keep the equipment clean and in good functioning condition. Additionally, acetone is also used in the cosmetic sector for the production of skin cleansers, hair treatments, and scents.
Moreover, the rising requirement for Acetone in niche pharmaceutical and paint and coatings applications is likely to serve well for its demand growth in the forecast period. Increasing demand for alcoholic beverages as a status symbol for people belonging to urban areas is also anticipated to propel its demand appreciably during the forecast period. Additionally, acetone is also employed to manufacture Bisphenol-A (BPA). BPA is employed as a plasticizer in the production of epoxy resins and polycarbonate polymers. It is used specifically for the packaging of goods and beverages, invoice paper and baby containers, and dental sealants. The Acetone market volume is estimated to reach approximately 500 thousand tonnes by FY2032.
Based on region, the Indian acetone Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2021, West India has been dominating the market and consumed approximately 50% of the acetone in FY2022. With giant manufacturers located in the states like Gujarat, Rajasthan, and Maharashtra, West India has been the leader in terms of consuming Acetone for producing a wide array of industries such as textiles, paints, and plasticizers.
Based on end-use, the India Acetone market is segregated into Pharmaceuticals & Solvents, Bisphenol-A, Methyl Methacrylate (MMA), Methyl Isobutyl Ketone (MIBK), and Others. Among these, Pharmaceuticals & Solvents are dominating the segment of acetone. This segment held roughly 60% of the acetone market in FY2022. Acetone is a liquid solvent that can dissolve many materials. Products like varnish remover, paint remover, and nail polish remover all contain acetone. Acetone is also used to produce polymers, varnishes, and textiles using acetone as well. Methyl methacrylate (MMA) is used in the electronics sector for things like laptop screens and smartphone screens. Additionally, it is used to make PMMA, which is utilized in the electronics sector to make liquid crystal displays and computers.
Major players in the India Acetone market are Ion Chemicals, Hindustan Organic Chemicals Ltd., Deepak Phenolics Ltd., and Others.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2032
Objective of the Study:
•To assess the demand-supply scenario of Acetone which covers production, demand and supply of Acetone market in India.
•To analyse and forecast the market size of Acetone in India.
•To classify and forecast India Acetone market based on end-use and regional distribution.
•To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Acetone market in India.
To extract data for India Acetone market, primary research surveys were conducted with Acetone manufacturers, suppliers, distributors, wholesalers and Traders. 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 segments and projected a positive outlook for India Acetone market over the coming years.
ChemAnalyst calculated Acetone demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Acetone 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 organizations and consulting companies
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, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Acetone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in FY2022
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250 thousand tonnes
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Market size Volume by FY2032
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500 thousand tonnes
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Growth Rate
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CAGR of 6.56% from FY2023 to FY2032
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Base year for estimation
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FY2023
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Historic Data
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FY2015 – FY2022
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Forecast period
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FY2024 – FY2032
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Quantitative units
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Demand in thousand tonnes and CAGR from FY2023 to FY2032
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Capacity by Technology, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
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Segments covered
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By End-Use: [Pharmaceuticals & Solvents, Bisphenol-A, Methyl Methacrylate (MMA), Methyl Isobutyl Ketone (MIBK), and Others]
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North India, South India, East India, West India
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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