Acetone Market Analysis to 2023 | Booming Trends, Share, Growth in CAGR Rate & Forecast

Acetone Market
North American acetone market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. & Canada is predicted to be the major contributors in the regional growth of acetone market.

Acetone Market Overview to 2023

Acetone is used in the production of polycarbonate which is a raw material in the manufacturing of insulation for electrical & electrical applications. Acetone is a clear, colorless, volatile fluid with a sweet scent. Acetone is most commonly prepared by means of cumene peroxidation, as a coproduct with phenol. Its fundamental substance in the production of acetone cyanohydrin for methyl methacrylate (MMA), bisphenol A (BPA). It has applications such as heavy metal degreaser, cleaning tools and chemical peeling in the pharmaceuticals, personal care, paints & coatings, plastics and construction end use industries. Acetone is used in the production of methyl methacrylate which is in turn an intermediate in the production PVC (Poly Vinyl Chloride) where it is used in the manufacture of plastics.

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Acetone Market– Top 10 Global key Players & Their Strategy

Some of the prominent players operating in the global acetone market are 

  • The Dow Chemical Company (the U.S.),
  • Cepsa (Spain), 
  • Mitsui Chemicals, Inc. (China),
  • Altivia (the U.S.),
  • LCY GROUP (Taiwan)
  • …… be continue…….

Competitive Analysis

As per our analysis, direct solvent applications account for a large portion of world demand. MMA is having the second highest global market share and followed by bisphenol A. The largest end use for MMA is PMMA (polymethyl methacrylate). PMMA resins are used to produce acrylic sheet and acrylic molding and extrusion compounds. Commercial, residential, and nonresidential construction, and remodeling are the largest markets for acrylic sheet.The construction, automotive, and computer segments are now seen as key growth markets by polycarbonate manufacturers. Some of the prominent market factors and trends identified in the global acetone market include rapid industrialization, rising demand for personal care products, and increasing expenditure on construction activities.

Intended Audience:

  • Acetone manufacturers
  • Traders and Distributors of acetone
  • Production Process Industries
  • Potential Investors
  • Raw Material Suppliers
  • Nationalized Laboratory

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Segmentation Analysis

The global acetone market is categorized on the basis of application, end use industry, and region. On the basis of application, the acetone market is categorized into methyl methacrylate, bisphenol A, and solvent. On the basis of end use industry, the market is segmented into pharmaceuticals, personal care, paints & coatings, plastics, construction and electrical & electronics. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis          

The global acetone market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding paints & coatings and construction industries. Rising middle class population and their increasing expenditure on improving the living standards is expected to increase furthermore in the forecast period.The acetone market is predicted to increase in numerous countries of the Asia Pacific such as China, India, Japan and Indonesia due to increasing urbanization and population is anticipated to drive the market in the forecast period.

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