Global Acetone Market SWOT analysis of key factors to increase CAGR value

ChemIntel360’s global Acetone market study is a 150 slide report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, and applications industry perspective. The industry is expected to grow at a CAGR of 4.6% mainly due to increasing consumption of acetone in pharmaceutical and cosmetics industries, the demand for which is projected to support market growth over the forecast period.

Generally, Acetone plants are integrated with phenol. This chemical is used as a solvent for fats, oils, waxes, resins, rubber, plastics, lacquers, varnishes, and rubber cement and also used as an intermediate in the formation of Bisphenol-A (BPA), Methyl Isobutyl Ketone (MIBK), and Methyl Methacrylate (MMA). During phenol manufacturing, acetone is produced as a byproduct. The other manufacturing methods are the cumene process, wacker process, and dry distillation. The cumene process is mostly used for the production of acetone and phenol. Acetone is one of the most common solvents used in nail polish removers and cleansers in the cosmetic industry. The physical properties like low boiling point and miscibility in acetone water drive the product consumption and further drive the global market in the forthcoming years.

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This study contains global and regional Acetone Market size data - value and volume. The numbers are broken down by application (Methyl Methacrylate, Bisphenol A, Solvent, Isopropanol, DAA/MIBK/Ketones, and Others). The historical period runs through 2015-2020 and the forecasted period from 2021-2026

CH3)2CO, otherwise called dimethyl ketone or propanone, is a profoundly unpredictable, dismal, and combustible fluid with the substance equation (CH3)2CO. It is the littlest and most straightforward ketone that is consistently utilized for cleaning in families, business tasks, and research facilities. The market is portioned into application, end-client industry, and topography. By application, the market is portioned into methyl methacrylate, bisphenol A, solvents, methyl isobutyl ketone, and different applications.

Market Overview

The global Acetone Market, which grew from US$X.X billion in 2015 to US$X.X billion in 2019, dropped marginally to US$4.46 billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of X.X%. Cumulatively the Market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.

Regional Insights

The global Acetone Market dependent on locales is sectioned into Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Out of these, the Asia-Pacific locale drives the most elevated portion of the overall industry because of the main place of shoppers and makers of methyl methacrylate in China. Furthermore, rising interest for plastic items prompts drive the interest for methyl methacrylate.

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Key Vendors

Honeywell International Inc. (US), Dow (US),Ineos (UK), Formosa Chemicals Fibre Corp (Taiwan), BASF SE (Germany), Mitsui Chemicals Inc (Japan), Shell Chemical Co (US), LG Chem Ltd (South Korea), Reliance Chemicals Pvt Ltd (India) and Kumho P B Chemicals (Korea)

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ChemIntel360, part of AgileIntel’s broader research offering, provides an integrated portfolio of quantitative and qualitative research reports on the chemicals sector. Our studies make use of credible market intelligence.

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