The Iran Acetone market stood at nearly 11 thousand tonnes in 2023 and is likely to grow at a healthy CAGR of 2.5% during the forecast period until 2034.
Acetone, recognized for its clear and volatile characteristics with the chemical formula C3H6O, is a versatile compound extensively employed in diverse industries. The majority of acetone production results from the by-product of Phenol. The synthesis process involves alkylating benzene with propylene to generate cumene, which, through an air oxidation reaction, leads to the production of both phenol and acetone. Due to its seamless miscibility with water, acetone serves as a vital organic solvent in both industrial and commercial settings. Its applications span various industries, including cosmetics, personal care, and the paints & coatings industry. Moreover, acetone serves as a crucial raw material in the production of bisphenol A, an essential component in the manufacturing of epoxy resins, and methyl methacrylate (MMA), a pivotal ingredient in polymer and plastic production.
Iran is on the verge of a significant upswing in Acetone demand, spurred by strategic initiatives and favourable conditions. The Acetone market in Iran is positioned for considerable expansion, primarily propelled by its pivotal role for producing Bisphenol A (BPA). The Acetone market in Iran is poised for significant expansion, primarily driven by its crucial role in the production of Bisphenol A (BPA). As BPA serves as a fundamental raw material in the manufacturing of plastics and epoxy resins, the escalating demand for these materials across various industries, including packaging, automotive, and construction, contributes to the heightened consumption of Acetone. Moreover, the country's growing industrial landscape and emphasis on key sectors further amplify the demand for Acetone, indicating a positive trajectory for market growth in the foreseeable future. Bisphenol A contributes indispensably to plastics and epoxy resins. The robust industrial landscape and strategic sector development initiatives further amplify Acetone's market potential in Iran. The Iran Acetone market is expected to reach nearly 15 thousand tonnes in the year 2034.
Based on the end-user industry, the Iran Acetone market is divided into Bisphenol A, Solvent, and Others. Among these, the Solvent industry is dominating the Acetone market. This industry consumed approximately 45% of the market in 2023.
Significant players in the global Acetone market are Chang Chun Petrochemical Co., Ltd., Advansix, Shell Chemicals, Mitsui Phenols Singapore Pte. Ltd., Formosa Chemicals and Fibre Corp, INEOS Group Ltd., PTT Phenol, Zhejiang Petroleum & Chemical Co., Ltd., Kumho P&B Chemicals., Inc., Cepsa Corporation, Olin Corporation, Versalis, LG Chem Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Acetone which covers production, demand and supply of Acetone market in Iran.
• To analyse and forecast the market size of Acetone
• To classify and forecast Iran Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Iran.
To extract data for Iran 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 Iran Acetone market over the coming years.
ChemAnalyst calculated Acetone demand in Iran by analysing the volume of Acetone consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to calculate 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 s 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, Iran 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 2023
11 thousand tonnes
Market size Volume by 2034
15 thousand tonnes
Growth Rate
CAGR of 2.5% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Production by Region, Demand by End- Use, Demand by Country, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Bisphenol A, Solvent, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Tabriz Region, Kermanshah Region, Isfahan Region, Tehran Region, and Mashhad Region
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Market Data & Insights
Table of Content
1.Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Acetone market in terms of value and volume.
2.Demand by End- Use [Quarterly Update]
Discover which end-user industry (Bisphenol A, Solvent, and Others) are creating a market and the forecast for the growth of the Acetone market.
3.Demand by Region
Analyzing the change in demand of Acetone in different regions, i.e Tabriz Region, Kermanshah Region, Isfahan Region, Tehran Region, and Mashhad Region, that can direct you in mapping the country-wise demand.
4.Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Acetone. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
5.Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Acetone.
6.Company Share
Figure out what proportion of the market share of Acetone is currently held by leading players across the Iran.
7.Country-wise Export
Get details about quantity of Acetone exported by major countries.
8.Country-wise Import
Get details about quantity of Acetone imported by major countries.
9.Manufacturing Process
Discover insights into the intricate manufacturing process of Acetone.
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What was Iran market size of Acetone in terms of volume in 2023?
Ans:
The Iran market size of Acetone has grown significantly in the historic period and reached nearly 11 thousand tonnes in 2023.
Q2.
Which industry is the major consumer of Iran Acetone market?
Ans:
The Bisphenol A industry is dominating the Acetone market with a market share of approximately 85% in 2023.
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