Global Acetone Market size was close to USD 7.41 billion by revenue, at the end of 2020. It is estimated to rise at a CAGR of 3.2% to reach USD 10.04 billion by the end of 2025.
Acetone is an organic solvent that is present naturally in trees, forest fires, volcanic gases, and plants. It is also obtained from propene acetone, which is major solvent for plastic and artificial fibers. In addition to that, it is the primary solvent for different cleaning agents.
Acetone Market Drivers and Restraints:
The increasing employment of personal care and household products and rising electronics business in the Asia Pacific region are the key factors driving the global acetone market. Also, dynamic economic development and positive call for MMA in the electronics business are contributing to the expansion of the worldwide acetone business.
The acetone is a significant solvent for the cosmetic & personal care business. The fast expansion of the personal care business in the developing nations is estimated to drive the call for acetone market. The global personal care business is expected to rise at a CAGR of around 5.78% in the coming years. The growing economies, like Asia-Pacific and Latin American countries, hold high expansion potential for the personal care business. For example, China holds for nearly 37% of revenue generated by the Asia-Pacific cosmetics & personal care ingredients market and is likely to showcase a high CAGR of close to 6.55% over the foreseen period owing to different factors like fast urbanization, increase in per capita disposable income, and change in lifestyle of individuals.
Nevertheless, contrasting to the general factors driving the market expansion, there are a few factors which tend to hamper the business expansion. The factors such as rising regulations by the European Commission on BPA and other strict rules imposed by the government are hindering the development of the global acetone market.
Acetone Market Segmentation:
By End-User:
Among all the sectors, the electronics sector has known for the highest share in the global acetone market. The rising demand for MMA in the electronics business is the primary reason for the expansion of this sector. Moreover, cosmetics and personal care is estimated to expand with the highest growth rate in the coming years.
By Application:
Among all the sectors, the methyl methacrylate segment is calculated to be the application to witness the quickest expansion rate in the foreseen period. The increasing industrial demands of this segment is estimated to dominate the global market throughout the predicted period.
Acetone Market Regional Analysis:
Marked Segmentation based on the region:
Asia Pacific acetone market held the dominating share of 39.7% on the basis of revenue in 2018. International makers have shifted their making units to the region, owing to affordable infrastructure and labour expenses. According to BASF SE, the global chemical business is estimated to expand at 2.7% by 2020; Japan is probable to showcase stronger chemical expansion driven by domestic demand. In Latin America, the chemical business is seeing high development due to microeconomic recovery in Brazil. Also, demand for chemicals in automotive, construction, and agricultural segments is estimated to drive the requirement for chemicals, thus positively influencing the expansion of the acetone market in this region during the foreseen period.
Acetone Market Key Players:
Major market players are rising penetration in the market by escalating their worldwide presence. New entrants require to comprehensively study the acetone market in order to penetrate and sustain in a price sensitive market. Companies operating in the acetone market are Domo Chemicals, The Dow Chemical Company, INEOS Phenol, Honeywell International, Inc., Mitsui Chemicals, Inc., Hindustan Organic Chemicals Limited, Formosa Chemicals, Royal Dutch Shell plc, Fiber Corporation, and CEPSA Quimica.
In July 2020, KBR, Inc., has secured a contract to license its acetone and phenol technology to Qingdao Haiwan Chemical.Major players are strategically rising their capacities globally through plant growth and latest acetone plant installation majorly in the Asia Pacific, to address the rising regional acetone market.
Recent Developments and Trends
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Introduction
5.1.2 Methyl Methacrylate
5.1.3 Bisphenol-A
5.1.4 Solvents
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 End-User Industry
5.2.1 Introduction
5.2.2 Cosmetics and Personal Care
5.2.3 Electronics
5.2.4 Construction
5.2.5 Automotive
5.2.6 Pharmaceutical
5.2.7 Agricultural Chemicals
5.2.8 Paints
5.2.9 Coatings & Adhesives
5.2.10 Y-o-Y Growth Analysis, By Type
5.2.11 Market Attractiveness Analysis, By Type
5.2.12 Market Share Analysis, By Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Application
6.1.3.3 By End-User Industry
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Application
6.1.4.3 By End-User Industry
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Application
6.1.5.3 By End-Use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Borealis AG
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 CEPSA Quimica SA
8.3 DowDuPont
8.4 Honeywell International
8.5 Mitsui Chemicals Inc.
8.6 Domo Chemicals
8.7 INEOS Phenol
8.8 Hindustan Organic Chemicals Limited
8.9 Formosa Chemicals
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
