Global Acetone Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Acetone Market Overview:
“The global Acetone Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The report offers insightful and detailed information regarding the various key players operating in the global acetone market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global acetone market report has been segmented on the basis of application, end-user, and region.
Acetone is an organic compound with molecular formulae (CH₃) ₂CO derived by oxidation of isopropyl alcohol. Acetone occurs naturally in plants, forest fires, 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 the textile industry for degreasing wool and degumming silk, and information about lacquers are key factors driving the 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 skincare products are major factors boosting the 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 the growth of the global acetone market.
However, the inflammability of acetone and health issues pertaining to acetone such as liver damage, vomiting, and blindness caused by exposure are key factors restraining the growth of the global acetone market. In addition, the high price of acetone is another major factor expected to hamper the growth of the global acetone market over the forecast period.
North America is a dominant player in the global acetone market and accounts for the 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 the second-highest revenue share contribution in the global acetone market followed by markets in Latin America, Asia Pacific, and the Middle East & Africa respectively. The market in the Asia Pacific is projected to witness the fastest growth in terms of revenue, owing to the increasing use of acetone for cosmetics in countries in the region.
Global Acetone Market Segmentation:
Global acetone market segmentation by application
- Methyl Methacrylate (MMA)
Global acetone market segmentation by end-user
- Cosmetics & personal care
- Cleaning agent
Global acetone market segmentation by region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- INEOS Phenol
- Royal Dutch Shell PLC
- Mitsui Chemicals, Inc.
- Hindustan Organic Chemicals Limited
- DOW Chemical Co.
- BASF SE
- Formosa Chemicals and Fiber Corporation
- Shanghai Sinopec Mitsui
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