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Global Acetone Market Status and Prospect, Forecast 2018 to 2026

Global Acetone Market Status and Prospect, Forecast 2018 to 2026

Acetone is an organic compound with molecular formulae (CH) CO derived by oxidation of isopropyl alcohol. Acetone occurs naturally in plants, forest fire, vehicle exhaust etc. Acetone is a colorless, volatile, and flammable organic solvent. Acetone is a nasal irritant and inhalation may lead to hepatotoxic effects (causing liver damage).

Increasing use of acetone in textile industry for degreasing wool and degumming silk, and in formation of lacquers are key factor driving growth of the global acetone market. Additionally, increasing end use applications of acetone as nail polish removers, in cleansing products, fragrance products, hair care products, and skin care products are major factors boosting growth of the global acetone market. Also, acetone has a very good solvent property, it can easily mix with water to be used in printing inks, adhesives coatings, paints etc. which are other factors anticipated to fuel growth of the global acetone market.

However, inflammability of acetone and health issues pertaining to acetone such as liver damage, vomiting, and blindness caused by exposure are key factors restraining growth of the global acetone market. In addition, high price of acetone is another major factor expected to hamper growth of the global acetone market over the forecast period.

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The global acetone market report has been segmented on the basis of application, end-user, and region. On the basis of region, the global acetone market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is a dominant player in the global acetone market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed rising demand for acetone in textile industries in countries in the region. The market in Europe accounts for second-highest revenue share contribution in the global acetone market followed by markets in Latin America, Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing use of acetone for cosmetics in countries in the region.

Prominent players in the global acetone market include, INEOS Phenol, Royal Dutch Shell PLC, Mitsui Chemicals, Inc., Hindustan Organic Chemicals Limited, DOW Chemical Co., BASF SE, Sunoco, Prasol, Formosa Chemicals and Fiber Corporation, and Shanghai Sinopec Mitsui.

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Consumption of Acetone Projected to Register a Value of US$ 7.3 Bn by 2026

In this report, Future Market Insights analyses the factors and trends impacting the growth of the global acetone market.

Consumption of Acetone Projected to Register a Value of US$ 7.3 Bn by 2026

Acetone Market

Future Market Insights delivers key insights on the global acetone market in a new publication titled, „Acetone Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026“. The global consumption of acetone was estimated to be approximately 6.1 million tons in 2015 and is projected to register a CAGR of 5.0%, reaching a market value of US$ 7.3 Bn by the end of the forecast period (2016-2026). In this report, Future Market Insights analyses the factors and trends impacting the growth of the global acetone market.

Acetone is primarily used as a precursor to methyl methacrylate (MMA), for the production of acetone cyanohydrin (chemical intermediate). Around 80% of the world“s MMA is consumed by the automotive industry, construction activity, and original equipment manufacturers (OEMs). 50%-60% of MMA production capacity is consumed to manufacture PMMA polymethyl methacrylate resins or surface coatings. There is a huge market demand for PMMA in the production of electronics items such as mobile phone screens, monitors and LCD screens, TV and video equipment etc. The use of acetone in the production of MMA in the automotive and electronics industries is the main driving factor for the growth of the global acetone market. Acetone is also used as a raw material, chemical intermediate, and as a solvent in various end-use industries including rubber and polymer, adhesives, metal cleaning, electronics, printing inks, paints and coatings, automotive, pharmaceuticals, agricultural chemicals, etc. Increasing use of polycarbonate is one of the major growth drivers of the global acetone market.

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However, due to rising environmental concerns, development of green solvents and bio based solvents are emerging as an attractive replacement for acetone and increasing use of water based solvent in paints and coatings may hamper the growth of the global acetone market.

Segmentation highlights

The global acetone market is segmented on the basis of Application (Methyl Methacrylate, Bisphenol-A, Solvents, Others (Aldol Chemicals, etc.)) and End-use industry (Chemical & Allied Products, Pharmaceutical Drugs, Cosmetics & Personal Care Use).

The Solvents application segment is estimated to increase at a value CAGR of 5.3% over the forecast period, creating a total incremental opportunity of US$ 1,169.3 Mn between 2016 and 2026

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The Chemical and allied products end-use segment is projected to register a growth rate of 5.1% in terms of value over the forecast period. This segment is also expected to hold disproportionately large shares in the global acetone market throughout the forecast period, accounting for 80.4% of the total incremental opportunity created between 2016 and 2026.

Regional market projections

The global acetone market is segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East and Africa. APEJ is expected to register the fastest growth among all regions in the global acetone market. The region is anticipated to strengthen its market value share from 39.9% in 2016 to 43.4% by 2026 end. With APEJ (led by China) becoming the major market for acetone end-use industries, demand is expected to remain high throughout the forecast period. North America and Western Europe are witnessing a steady improvement in the acetone market, registering a CAGR of 4.7% and 4.3% respectively during the forecast period.

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Vendor insights

The global acetone market report covers detailed profiles of key players operating in the global acetone market. The report presents key strategies, key developments, product offerings, and market performance of leading companies. Major players reported in this study of the global acetone market include INEOS Phenol, Royal Dutch Shell PLC, Sasol, The Dow Chemical Company, Mitsui Chemicals, Inc., Hindustan Organic Chemicals Limited, Domo Chemicals, Honeywell International, Inc., Formosa Chemicals and Fiber Corporation, and CEPSA Quimica.

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