Straits Research Unveils Comprehensive Report on the Growing Acetone Market, Forecasting a Strong Growth from USD 6.52 Billion in 2024 to USD 12.92 Billion by 2033
Acetone Market is Projected to Grow at a CAGR of 7.90% from 2025 to 2033
Straits Research, a leading market research and consulting firm, has published a detailed report on the global Acetone market. The report provides in-depth insights into the market size, trends, growth drivers, and key players shaping the future of this vital industry. The global Acetone market was valued at USD 6.52 billion in 2024 and is projected to grow from USD 7.03 billion in 2025 to USD 12.92 billion by 2033, registering a CAGR of 7.90% during the forecast period (2025-2033).
Acetone, a colorless, flammable solvent, plays a key role in various industries, including chemicals, automotive, pharmaceuticals, and electronics. As one of the most widely used solvents and chemicals, the demand for acetone continues to rise, spurred by growing applications across multiple sectors. The steady rise in industrial and commercial activities globally is driving the demand for acetone, which is expected to further contribute to the market's expansion over the forecast period.
Market Definition:
Acetone is a colorless, volatile, and flammable liquid solvent primarily used in the production of chemicals, plastics, pharmaceuticals, and various consumer products. It is an essential ingredient in the manufacture of bisphenol-A (BPA), methyl methacrylate (MMA), and other chemicals that are used in the production of resins, paints, and coatings. Acetone is also used as a solvent in the manufacturing of adhesives, cleaning products, and in medical and cosmetic applications due to its solvent properties.
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Market Segmentation:
The Acetone market is segmented based on several key factors:
- Product Type:
- Acetone from Propylene
- Acetone from Phenol
- Other Sources
- End-Use Industry:
- Chemicals & Petrochemicals
- Automotive
- Pharmaceuticals
- Cosmetics & Personal Care
- Paints & Coatings
- Electronics
- Others
- Geographical Segments:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key Players in the Acetone Market:
The Acetone market is highly competitive, with several global players contributing to market growth. Some of the key players include:
- LG Chem
- Mitsubishi Chemical
- ExxonMobil Chemical
- Cepsa
- SABIC
- Reliance Industries
- INEOS
- Shell Chemicals
- LyondellBasell Industries
- Covestro
Dominated Region: Asia-Pacific
The Asia-Pacific region is the largest and most dominant market for acetone, owing to the rapid industrialization and increasing manufacturing activities in countries like China, India, and Japan. The rising demand for acetone in automotive, chemicals, and pharmaceutical sectors in this region continues to drive its market expansion. The presence of major acetone producers and increasing investments in infrastructure development further fuel the market’s growth.
Fastest Growing Region: Europe
Europe is expected to witness the fastest growth in the acetone market during the forecast period. This is due to the increasing demand for acetone in various end-use industries such as automotive, electronics, and pharmaceuticals. Additionally, Europe’s focus on sustainable chemicals and eco-friendly manufacturing practices is expected to further propel the demand for acetone.
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FAQ:
1. What is acetone, and where is it used?
Acetone is a colorless, volatile, and flammable liquid solvent used in the production of chemicals, plastics, pharmaceuticals, paints, coatings, adhesives, and cosmetics. It is an essential solvent in many industrial applications, including in the manufacture of bisphenol-A (BPA), methyl methacrylate (MMA), and other resins.
2. How is acetone produced?
Acetone is mainly produced through two methods:
- Phenol-based production: Involves the production of acetone from phenol, which is derived from petrochemical processes.
- Propylene-based production: Acetone is also produced from propylene, a key byproduct in the production of petrochemical compounds.
3. What are the key drivers of growth in the acetone market?
The key growth drivers for the acetone market include:
- Increased industrial demand for acetone in the chemical, automotive, and pharmaceutical industries.
- Growth in end-user industries such as electronics, cosmetics, and paints & coatings.
- Rising demand in emerging economies due to industrialization and infrastructure development.
4. Which region dominates the acetone market?
The Asia-Pacific region dominates the global acetone market. This is due to the significant industrialization and presence of major manufacturing hubs in countries like China, India, and Japan, where acetone is widely used across various industries.
5. Which region is expected to experience the highest growth in the acetone market?
Europe is expected to experience the fastest growth in the acetone market during the forecast period. This growth is attributed to the increasing demand from industries such as automotive, pharmaceuticals, and electronics, as well as the rising focus on sustainable chemicals.
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