The Russia Acetone market demand stood at 270 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.2% during the forecast period until 2034.
Acetone, known for its highly versatile solvent properties and volatile nature, plays a multifaceted role across diverse industries. Acetone stands out as a key raw material in the synthesis of essential chemicals such as Bisphenol A, utilized in plastics, Methyl Methacrylate, employed in polymer production. In the cosmetics and personal care sector, it serves as a crucial component in the formulation of nail polish removers and skincare products. Its significance extends to the production of paints and coatings, which are essential for applications like automotive coating and surface treatment. Acetone's role further expands into chemical manufacturing, acting as a fundamental building block for synthesizing plastics, resins, and pharmaceutical intermediates. Within the pharmaceutical industry, acetone plays a vital role in specific processes, highlighting its versatility in pharmaceutical product production. Additionally, acetone is employed as a solvent in the production of various plastics and resins, including polycarbonates and epoxy resins.
The demand for Acetone in Russia is predominantly propelled by its extensive applications as a cost-effective solvent in various industries, including pharmaceuticals, paints and coatings, adhesives, personal care & cosmetics, and more. Furthermore, the surge in investments aimed at meeting the growing demand for essential derivatives like Bisphenol A and Methyl Methacrylate adds a layer of dynamism to the Acetone market in Russia. These derivatives play pivotal roles in various industrial processes, contributing to the development of plastics, resins, and other key materials. The pharmaceutical industry, in particular, benefits from Acetone's diverse applications, making it an integral part of specific processes in pharmaceutical product production. The consistent growth of the pharmaceutical sector in Russia further amplifies the demand for Acetone. In paints and coatings, Acetone's role extends beyond being a mere solvent. It actively contributes to the synthesis of essential chemicals that form the backbone of these industries. As a result, the demand for Acetone in Russia is not just a reflection of its solvent properties but also indicative of its crucial role in the broader industrial landscape. Hence, Russia Acetone market is likely to reach nearly 380 thousand tonnes in the year 2034.
Based on the end-user industry, the Russia Acetone market is segmented into Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others. As of 2023, the predominant market share of Acetone is prominently as a solvent and this industry accounted approximately 60% of the market.
Main players in the Russia Acetone market are PJSC Ufaorgsintez and Omsky kauchuk. Other players in the global Acetone market are Formosa Chemicals and Fibre Corp, INEOS Group Ltd., Kumho P&B Chemicals., Inc., LG Chem Ltd., Mitsui Phenols Singapore Pte. Ltd., Olin Corporation, PTT Phenol, Shell Chemicals, Versalis, Zhejiang Petroleum & Chemical Co., 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 Russia Acetone which covers production, demand and supply of Acetone market in Russia.
• To analyse and forecast the market size of Russia Acetone
• To classify and forecast Russia Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Russia.
To extract data for Russia 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 Russia Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the Russia region 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 determine 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, Russia 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
270 thousand tonnes
Market size Volume by 2034
380 thousand tonnes
Growth Rate
CAGR of 3.2% 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, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others)
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What was the size of Russia Acetone market in terms of volume in 2023?
Ans:
The size of Russia Acetone market has grown significantly in the historic period and had reached approximately 270 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Acetone?
Ans:
Solvent industry is the leading consumer of Acetone.
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