The Saudi Arabia Acetone market stood at nearly 150 thousand tonnes in 2023 and is likely to grow at a healthy CAGR of 3.58% during the forecast period until 2034.
Acetone, recognized for its colourless and volatile characteristics with the chemical formula C3H6O, is a versatile compound widely employed as a crucial component in various industries. The majority of Acetone production results from the by-product of Phenol. The synthesis process entails alkylating benzene with propylene to generate cumene, which, through an air oxidation reaction, produces phenol and acetone. Due to its ability to mix seamlessly with water, acetone serves as a significant organic solvent used in industries and households. It finds application across diverse sectors, including cosmetics, personal care, paints, and coatings industry. Acetone's outstanding solvent properties qualify it as a cross-linking agent for bioactive substances in fungicides and insecticides, contributing to polyester resin cleaning. Additionally, it plays a crucial role in the polymer industry, aiding in the production of polycarbonates, Bisphenol-A, and epoxy resins.
The solvent's versatile properties make acetone a notable chemical in various applications within multiple industries. The pharmaceutical sector benefits from Acetone in the production of specific pharmaceutical intermediates, while the automobile industry relies on it for coatings and finishes, contributing to surface treatment and painting. In the cosmetics industry, Acetone serves as a key ingredient in formulations. The demand is further bolstered by the consistently increasing demand for its derivatives like MMA (Methyl Methacrylate) and Bisphenol A. Methyl Methacrylate (MMA) plays a crucial role in the manufacturing of polymers and plastics, serving as a fundamental building block for various materials like acrylic resins and thermoplastics. Another notable derivative of Acetone is Bisphenol A (BPA), which serves as a key raw material in the synthesis of plastics and epoxy resins. In the production of polycarbonates, BPA finds extensive use, with applications ranging from optical media and electronic components to medical devices. Additionally, BPA plays a crucial role in the creation of epoxy resins, widely employed in coatings, adhesives, and electronic applications. The utilization of MMA and BPA in various industries underscores the importance of Acetone as a primary raw material in Saudi Arabia. The Saudi Arabia Acetone market is expected to reach nearly 220 thousand tonnes in the year 2034.
Based on the end-user industry, the Saudi Arabia Acetone market is divided into Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others. Among these, the Solvent industry is dominating the Acetone market. This industry consumed approximately 40% of the market in 2023.
Main player in the Saudi Arabia Acetone market is Rabigh Refining and Petrochemical and Saudi Kayan Petrochemical Company. Other global players in the Acetone market are INEOS Group Ltd., Cepsa Corporation, Formosa Chemicals and Fibre Corp, Kumho P&B Chemicals., Inc., Chang Chun Petrochemical Co., Ltd., Advansix, PTT Phenol, Shell Chemicals, Versalis, Zhejiang Petroleum & Chemical Co., 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 the Saudi Arabia.
• To analyse and forecast the market size of Acetone
• To classify and forecast Saudi Arabia Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in the Saudi Arabia.
To extract data for Saudi Arabia 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 Saudi Arabia Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across Saudi Arabia 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, Saudi Arabia 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
150 thousand tonnes
Market size Volume by 2034
220 thousand tonnes
Growth Rate
CAGR of 3.58% 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 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: [Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others]
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Eastern Region, Central Region, and Rest of Saudi Arabia
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What was Saudi Arabia market size of Acetone in terms of volume in 2023?
Ans:
The Saudi Arabia market size of Acetone has grown significantly in the historic period and reached nearly 150 thousand tonnes in 2023.
Q2.
Which industry is the major consumer of Saudi Arabia Acetone market?
Ans:
The Solvent industry is dominating the Saudi Arabia Acetone market with a market share of approximately 40% in 2023.
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