according to a new study by Polaris Market Research the report “Acetone Market Share, Size, Trends, Industry Analysis Report, By Grade (Specialty Grade, Technical Grade); By End-User (Construction, Automotive, Cosmetics and Personal Use, Paints and Coatings, Pharmaceutical, Agriculture, Others); By Application (Bisphenol A, Methyl Methacrylate (MMA), Solvents, Methyl Isobutyl Ketone, Others); By Regions; Segment Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future industry growth.
The global Acetone market size was valued at USD 4,565.8 million in 2019 and Market size is expected to reach USD 6.19 billion by 2026 to grow at a CAGR of 4.6% during the forecast period.(2020-2026) The market is projected to witness a growth over the forecast period. There has been a significant growth in the demand for acetone from pharmaceutical, automotive, and construction sectors over the years. Growing awareness regarding personal care, increasing demand for solvents, application in varied industries, and rising disposable income are some factors boosting the market growth. It is also used as an organic and non-toxic alternative for containing oil spills by dissolving sludge and eliminating it from the surface of water or marine plants.
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With increasing investments in the global Acetone industry, companies, manufacturers, private organizations are collaborating to expand and cater to wider applications. In August 2019, ALTIVIA Petrochemicals completed the acquisition of Dow’s Acetone Derivatives Business and associated chemical manufacturing assets in United States. The acquisition is expected to assist ALTIVIA in increased production of Ketones and Carbinols, and strengthen its position in the coatings, adhesive and pharmaceutical industries. The addition would expand its acetone production and increase its geographic penetration.
Asia Pacific emerged as the largest market in 2019 and is expected to maintain its dominance over the forecast period. Population growth, rising disposable incomes, and growing demand for personal care products drives the growth in the region. Rising industrialization, growth in the automotive sector, and strengthening pharmaceutical industry also supports market growth in this region. Increasing applications in agriculture, construction, and automotive further increases the demand of acetone in Asia-Pacific. Global players are expanding their presence and setting manufacturing units in this region owing to availability of infrastructure and labor.
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Key Segments Insight:
Acetone Grade Outlook : Specialty Grade Acetone,Technical Grade Acetone
Acetone End-User Outlook : Construction, Automotive, Cosmetics and Personal Use, Paints and Coatings, Pharmaceutical, Agriculture, Others
Acetone Application Outlook : Bisphenol A, Methyl Methacrylate (MMA), Solvents, Methyl Isobutyl Ketone, Others
Some of the major companies in this market include:
Hindustan Organic Chemicals Limited, Royal Dutch Shell PLC, Formosa Chemicals and Fiber Corporation, INEOS Phenol, Honeywell International Inc., BASF SE, Green Biologics Limited, Prasol Chemicals Pvt. Ltd., Borealis AG, Altivia, Reliance Industries Limited, Mitsui Chemicals Inc, LyondellBasell Industries Inc., and DOMO Chemicals GmbH.
Table of Contents
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Acetone Market Insights
Chapter 5. Acetone Market Assessment by Grade
Chapter 6. Global Acetone Market, by End-User
Chapter 7. Acetone Market Assessment by Application
Chapter 8. Acetone Market Assessment by Geography
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
List of Tables
Table 1 Drivers and Inhibitors for Global Market
Table 2 Restraints Global Market
Table 3 Global Acetone Market, By Grade, 2015 – 2026 (Kilotons) (USD Million)
Table 4 Global Acetone Market, by Specialty Grade Acetone, by Region, 2015-2026 (Kilotons) (USD Million)
Table 5 Global Acetone Market, Technical Grade Acetone, by Region, 2015-2026 (Kilotons) (USD Million)
List of Figures
FIG. 1 Market snapshot
FIG. 2 Market segmentation & scope
FIG. 3 Global Acetone market size and growth prospects, 2015 – 2026
FIG. 4 Value chain analysis
FIG. 5 Acetone market dynamics
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