Acetone Market by End-user and Geography - Forecast and Analysis 2020-2024

The acetone market size has the potential to grow by 1,375.25 k tons during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (industrial sector, cosmetics industry, pharmaceutical industry, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ALTIVIA, COMPAÑÍA ESPAÑOLA DE PETRÓLEOS SA, Honeywell International Inc., INEOS Group Holdings SA, Mitsubishi Chemical Holdings Corp., Mitsui Chemicals Inc., Prasol Chemicals Pvt. Ltd., Royal Dutch Shell, SABIC, and Solvay SA.

Market Overview

Market Competitive Analysis

The market is fragmented and characterized by the presence of small and large vendors. The large vendors in the market have huge production units situated across the world and vast geographical existence. Vendors are compelled to differentiate their product and service offerings through a clear and exceptional value proposition to survive and succeed in an intensely competitive environment. Major vendors of the acetone compound market are increasingly focusing on the development of new products by heavily investing in research and developmental activities. Mitsui Chemicals Inc., Prasol Chemicals Pvt. Ltd., Royal Dutch Shell, SABIC, and Solvay SA are some of the major market participants. Although the growing demand for polycarbonates will offer immense growth opportunities, restrictions on bisphenol A-based food contact materials will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this acetone market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this acetone market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• ALTIVIA
• COMPAÑÍA ESPAÑOLA DE PETRÓLEOS SA
• Honeywell International Inc.
• INEOS Group Holdings SA
• Mitsubishi Chemical Holdings Corp.
• Mitsui Chemicals, Inc.
• Prasol Chemicals Pvt. Ltd.
• Royal Dutch Shell
• SABIC
• Solvay SA

Acetone Market: Segmentation by Region

APAC had the largest acetone market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing industrialization, rapid urbanization, infrastructure development, and increasing consumption of acetone and its derivatives in end-user industries will significantly influence acetone market growth in this region.

56% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for acetone in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Acetone Market: Segmentation by End-user

The manufacturing process of polycarbonate requires acetone. Polycarbonate is extensively used in the automotive industry to manufacture various car parts, including sunroofs and windows and taillights, headlamps, and bullet-proof glass. Acetone is the key intermediate for MMA or polymethyl methacrylate (PMMA). PMMA is also used in the automotive industry for exterior car coating and auto-glazing. As a result, the acetone market will register significant growth in the industrial sector.

Market growth in this segment will be faster than the growth of the market in the cosmetics and pharmaceutical segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the acetone market size.

Acetone Market: Key Drivers and Trends

Various sectors such as laboratories, electronics, and cosmetics highly depend on acetone for various applications. The increasing demand from end-user industries such as cosmetics and electronics will be one of the primary growth drivers for the global acetone market. The manufacturing process of Bisphenol A (BPA) and Methyl methacrylate (MMA) involve the production of the organic compound, acetone cyanohydrin from acetone. Polymethyl Methacrylate (PMMA), which is derived from MMA, is used in the construction of skylights, medical equipment, automotive components, windows, and lighting fittings. The use of Acetone is also increasing in the electrical and electronics industry as it is used in liquid crystal displays and flat-screen computers. As a result of the increasing applications, the acetone market will register a CAGR of almost 4%.

Upcoming trends such as the establishment of new plant and capacity expansions in China will also fuel the growth of the acetone market during the predicted period. The supply and consumption of Bisphenol A (BPA) are expected to increase in China. This is due to the increased trade, high end-user consumption, successive advancement of capital investment, and the industrial output. The facilities and capacity expansions for feedstock acetone, phenol, and BPA will drive the demand for acetone, which will subsequently result in the construction of new plants and capacity expansions.

Acetone Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive acetone market growth during the next five years
• Precise estimation of the acetone market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the acetone market industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of acetone market vendors