Acetone Market Size, Trends and Insights By Grade (Specialty Grade, Technical Grade), By Application (Solvents, Bisphenol-A, Methyl Methacrylate, Others), By End User (Automotive, Electronics, Cosmetics & Personal Care, Pharmaceuticals, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- INEOS Group Holdings S.A.
- The Dow Chemical Company
- Mitsui Chemicals Inc.
- Royal Dutch Shell plc
- Others
Reports Description
Global Acetone Market was valued at USD 6.5 Billion in 2024 and is expected to reach USD 12.4 Billion by 2033, at a CAGR of 5.6% during the forecast period 2024 – 2033.
Acetone is a colourless, volatile liquid solvent with a characteristic sweet odor. It is widely used as a solvent in many industries, including pharmaceuticals, cosmetics, and chemical manufacturing. Acetone is also utilized as a cleaning agent, paint thinner, and in the production of various chemicals and plastics.
Acetone Market: Growth Factors
Increasing demand for solvents from pharmaceuticals industries
The rising demand for solvents from the pharmaceutical industry significantly drives the acetone market. Acetone serves as a crucial solvent in pharmaceutical applications due to its ability to dissolve various compounds efficiently. It is extensively used in the production of medicines, including pharmaceutical intermediates, active pharmaceutical ingredients (APIs), and drug formulations.
With the expanding global population and increasing prevalence of diseases, the pharmaceutical industry is experiencing rapid growth, leading to a heightened demand for solvents like acetone. Additionally, acetone’s versatility, effectiveness, and relatively low cost make it a preferred choice for pharmaceutical manufacturing processes.
As pharmaceutical companies continue to innovate and expand their product portfolios, the demand for acetone as a solvent is expected to rise further, thereby driving growth in the acetone market. For instance, In December, the Indian pharmaceutical market demonstrated strong value growth of 9.2%, with significant therapies experiencing double-digit increases.
Growing demand for methyl methacrylate (MMA) and bisphenol-A (BPA) from end-use industries
The increasing demand for methyl methacrylate (MMA) and bisphenol-A (BPA) from various end-use sectors significantly drives the acetone market. MMA is a key component in the production of polymethyl methacrylate (PMMA), commonly known as acrylic glass, which finds extensive applications in automotive, construction, and electronics industries due to its transparency, lightweight, and impact resistance.
Similarly, BPA is a crucial raw material for manufacturing polycarbonate plastics and epoxy resins, widely used in consumer goods, electronics, automotive, and construction sectors. As both MMA and BPA require acetone as a primary solvent and feedstock in their production processes, the growing demand for these end-use products directly boosts the acetone market.
The expanding construction and automotive sectors, coupled with increasing consumer demand for electronics and consumer goods, further propel the demand for acetone as a vital chemical intermediate in various industrial applications.
Acetone Market: Restraints
Environmental concerns regarding its production and usage
Environmental concerns surrounding the production and usage of acetone pose significant challenges to the acetone market. Acetone is primarily produced through the oxidation of cumene, a process that generates hazardous pollutants and greenhouse gas emissions. Additionally, acetone’s volatile nature contributes to air pollution and poses risks to human health and ecosystems.
Moreover, the disposal of acetone-containing waste can contaminate soil and water sources, further exacerbating environmental degradation. Regulatory pressures to mitigate these environmental impacts drive increased scrutiny and demand for cleaner production processes and sustainable alternatives. As a result, manufacturers face mounting pressure to adopt greener production methods and develop bio-based or renewable sources of acetone.
However, transitioning to environmentally friendly alternatives often entails higher production costs and technological challenges, hindering market growth and profitability in the short term. Nonetheless, addressing these environmental concerns is crucial for the long-term sustainability and viability of the acetone market.
Acetone Market: Opportunities
Escalating demand for bio-based solvents
The escalating demand for bio-based solvents is a significant driver of the acetone market. As industries increasingly prioritize sustainability and environmental concerns, there is a growing preference for bio-based alternatives over traditional petroleum-derived solvents.
Acetone, a key ingredient in many bio-based solvent formulations, benefits from this trend due to its versatility, low toxicity, and biodegradability. Additionally, the renewable nature of bio-based acetone, derived from sources such as biomass or waste streams, reduces dependency on fossil fuels and helps mitigate carbon emissions.
Industries such as pharmaceuticals, cosmetics, and paints and coatings are particularly embracing bio-based acetone for its eco-friendly attributes and comparable performance to conventional solvents. As regulatory pressures and consumer preferences continue to emphasize sustainability, the demand for bio-based acetone is expected to further drive market growth in the coming years.
For instance, LG Chem plans to export 4,000 metric tons of phenol and 1,200 metric tons of acetone from its Daesan plant for polycarbonate manufacturing. These chemicals, derived from bio-feedstock like waste cooking oil and biomass, are certified under the International Sustainability and Carbon Certification (ISCC) system.
Acetone Market: Segmentation Analysis
Acetone market is segmented by grade, application, end user and region. Based on grade, the market is classified into specialty grade and technical grade. Technical grade dominated the market in 2022 with a market share of 50% and is expected to keep its dominance during the forecast period 2024-2032.
The technical grade acetone segment plays a significant role in driving the acetone market due to its diverse applications in various industries. Technical grade acetone, with its high purity and relatively lower cost compared to other grades, is extensively used as a solvent in industrial processes such as manufacturing paints, coatings, adhesives, and plastics.
Additionally, it serves as a crucial ingredient in the production of chemicals like methyl methacrylate (MMA), bisphenol-A (BPA), and acetone cyanohydrin, which are used in the manufacture of resins, fibers, and pharmaceuticals. The robust demand for technical grade acetone stems from its versatility, effectiveness as a solvent, and its role as a precursor in the synthesis of numerous chemicals, driving its market growth and prominence in various industrial sectors worldwide.
Based on application, the market is classified into solvents, bisphenol-a, methyl methacrylate and others. The solvents segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032.
Solvents play a crucial role in driving the acetone market due to their extensive use in various industries. Acetone is a versatile solvent itself, but it is also a key ingredient in the production of other solvents like methyl ethyl ketone (MEK) and methyl isobutyl ketone (MIBK). These solvents find applications in coatings, adhesives, paints, and pharmaceuticals, among others.
Additionally, acetone is essential for the extraction and purification of various chemicals and pharmaceutical compounds. The demand for solvents, driven by industrial activities and consumer needs, directly impacts the acetone market.
As industries expand and innovate, the requirement for solvents increases, consequently boosting the demand for acetone. Moreover, acetone’s role as a solvent in various manufacturing processes ensures its continued relevance and growth within the global chemical industry.
Based on end user, the market is classified into automotive, electronics, cosmetics & personal care, pharmaceuticals and others. Pharmaceuticals segment dominated the market in 2022 with a market share of 30% and is expected to keep its dominance during the forecast period 2024-2032.
The pharmaceutical industry plays a significant role in driving the acetone market due to its widespread use as a solvent in drug formulation and manufacturing processes. Acetone serves as a crucial solvent for dissolving and mixing active pharmaceutical ingredients (APIs) and excipients to create pharmaceutical formulations such as tablets, capsules, and creams.
Additionally, acetone is utilized in the synthesis of various pharmaceutical intermediates and active compounds. As the pharmaceutical industry continues to expand globally, fuelled by factors such as population growth, increasing healthcare expenditures, and rising prevalence of diseases, the demand for acetone as a solvent is expected to rise correspondingly.
Moreover, stringent quality standards and regulatory requirements in the pharmaceutical sector necessitate the use of high-quality solvents like acetone, further driving its demand in the industry.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 6.5 Billion |
| Projected Market Size in 2033 | USD 12.4 Billion |
| Market Size in 2023 | USD 5.2 Billion |
| CAGR Growth Rate | 5.6% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Grade, Application, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Acetone Market: Regional Analysis
By region, Acetone market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Acetone market in 2022 with a market share of 40% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
The Asia-Pacific region plays a pivotal role in driving the acetone market due to several factors. Firstly, rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations increase demand for acetone in various sectors, including pharmaceuticals, chemicals, and plastics manufacturing.
Additionally, the region’s robust manufacturing infrastructure and skilled workforce contribute to its dominance in acetone production and consumption. Moreover, favourable government policies, growing investment in research and development, and technological advancements further propel market growth.
Furthermore, Asia-Pacific’s large population and rising disposable incomes drive demand for consumer goods, such as cosmetics, adhesives, and coatings, which utilize acetone as a key ingredient. Overall, the region’s dynamic economic growth, coupled with increasing industrial activities and consumer demand, solidify its position as a major driver in the global acetone market.
Acetone Market: Recent Developments
- In February 2024, Mitsubishi Chemical America announced a commendation of the methyl methacrylate (MMA) plant in Louisiana.
- In August 2020, Dow disclosed that it had finalized a deal to sell its Acetone Derivatives business to ALTIVIA Ketones & Additives, LLC, the Texas-based privately owned chemical manufacturer.
- In January 2022, Lotte GS Chemical announced that it utilizes Honeywell UOP Q-Max, Phenol 3G, and Evonik MSHP technologies to manufacture over 565,000 metric tons annually of phenol and acetone. Products derived from phenol and acetone are transformed into plastics and associated materials, such as bisphenol-A, are utilized as a fundamental component in polycarbonate plastics.
List of the prominent players in the Acetone Market:
- INEOS Group Holdings S.A.
- The Dow Chemical Company
- Mitsui Chemicals Inc.
- Royal Dutch Shell plc
- Formosa Chemicals & Fibre Corporation
- Honeywell International Inc.
- China National Petroleum Corporation
- Sinopec Group
- CEPSA
- Reliance Industries Limited
- Sunoco LP
- LyondellBasell Industries N.V.
- LG Chem Ltd.
- Saudi Basic Industries Corporation
- JXTG Holdings Inc.
- Kumho P&B Chemicals Inc.
- Solvay S.A.
- LUKOIL
- Mitsui & Co. Ltd.
- PTT Global Chemical Public Company Limited
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Acetone Market is segmented as follows:
By Grade
- Specialty Grade
- Technical Grade
By Application
- Solvents
- Bisphenol-A
- Methyl Methacrylate
- Others
By End User
- Automotive
- Electronics
- Cosmetics & Personal Care
- Pharmaceuticals
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Acetone Market, (2024 – 2033) (USD Billion)
- 2.2 Global Acetone Market: snapshot
- Chapter 3. Global Acetone Market – Industry Analysis
- 3.1 Acetone Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing demand for solvents from pharmaceuticals industries
- 3.2.2 Growing demand for methyl methacrylate (MMA) and bisphenol-A (BPA) from end-use industries
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Grade
- 3.7.2 Market Attractiveness Analysis By Application
- 3.7.3 Market Attractiveness Analysis By End User
- Chapter 4. Global Acetone Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Acetone Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Acetone Market – Grade Analysis
- 5.1 Global Acetone Market Overview: By Grade
- 5.1.1 Global Acetone Market Share, By Grade, 2023 and 2033
- 5.2 Specialty Grade
- 5.2.1 Global Acetone Market by Specialty Grade, 2024 – 2033 (USD Billion)
- 5.3 Technical Grade
- 5.3.1 Global Acetone Market by Technical Grade, 2024 – 2033 (USD Billion)
- 5.1 Global Acetone Market Overview: By Grade
- Chapter 6. Global Acetone Market – Application Analysis
- 6.1 Global Acetone Market Overview: By Application
- 6.1.1 Global Acetone Market Share, By Application, 2023 and 2033
- 6.2 Solvents
- 6.2.1 Global Acetone Market by Solvents, 2024 – 2033 (USD Billion)
- 6.3 Bisphenol-A
- 6.3.1 Global Acetone Market by Bisphenol-A, 2024 – 2033 (USD Billion)
- 6.4 Methyl Methacrylate
- 6.4.1 Global Acetone Market by Methyl Methacrylate, 2024 – 2033 (USD Billion)
- 6.5 Others
- 6.5.1 Global Acetone Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Acetone Market Overview: By Application
- Chapter 7. Global Acetone Market – End User Analysis
- 7.1 Global Acetone Market Overview: By End User
- 7.1.1 Global Acetone Market Share, By End User, 2023 and 2033
- 7.2 Automotive
- 7.2.1 Global Acetone Market by Automotive, 2024 – 2033 (USD Billion)
- 7.3 Electronics
- 7.3.1 Global Acetone Market by Electronics, 2024 – 2033 (USD Billion)
- 7.4 Cosmetics & Personal Care
- 7.4.1 Global Acetone Market by Cosmetics & Personal Care, 2024 – 2033 (USD Billion)
- 7.5 Pharmaceuticals
- 7.5.1 Global Acetone Market by Pharmaceuticals, 2024 – 2033 (USD Billion)
- 7.6 Others
- 7.6.1 Global Acetone Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Acetone Market Overview: By End User
- Chapter 8. Acetone’s Market – Regional Analysis
- 8.1 Global Acetone’s Market Regional Overview
- 8.2 Global Acetone’s Market Share, by Region, 2023 & 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.4 North America Acetone’s Market, by Grade, 2024 – 2033
- 8.4.1 North America Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
- 8.5 North America Acetone’s Market, by Application, 2024 – 2033
- 8.5.1 North America Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
- 8.6 North America Acetone’s Market, by End User, 2024 – 2033
- 8.6.1 North America Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Acetone’s Market, by Grade, 2024 – 2033
- 8.8.1 Europe Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
- 8.9 Europe Acetone’s Market, by Application, 2024 – 2033
- 8.9.1 Europe Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
- 8.10 Europe Acetone’s Market, by End User, 2024 – 2033
- 8.10.1 Europe Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Acetone’s Market, by Grade, 2024 – 2033
- 8.12.1 Asia Pacific Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Acetone’s Market, by Application, 2024 – 2033
- 8.13.1 Asia Pacific Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Acetone’s Market, by End User, 2024 – 2033
- 8.14.1 Asia Pacific Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Acetone’s Market, by Grade, 2024 – 2033
- 8.16.1 Latin America Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
- 8.17 Latin America Acetone’s Market, by Application, 2024 – 2033
- 8.17.1 Latin America Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
- 8.18 Latin America Acetone’s Market, by End User, 2024 – 2033
- 8.18.1 Latin America Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Acetone’s Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Acetone’s Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Acetone’s Market, by Grade, 2024 – 2033
- 8.20.1 The Middle-East and Africa Acetone’s Market, by Grade, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Acetone’s Market, by Application, 2024 – 2033
- 8.21.1 The Middle-East and Africa Acetone’s Market, by Application, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Acetone’s Market, by End User, 2024 – 2033
- 8.22.1 The Middle-East and Africa Acetone’s Market, by End User, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 INEOS Group Holdings S.A.
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 The Dow Chemical Company
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Mitsui Chemicals Inc.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Royal Dutch Shell plc
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Formosa Chemicals & Fibre Corporation
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Honeywell International Inc.
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 China National Petroleum Corporation
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Sinopec Group
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 CEPSA
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Reliance Industries Limited
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Sunoco LP
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 LyondellBasell Industries N.V.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 LG Chem Ltd.
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Saudi Basic Industries Corporation
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 JXTG Holdings Inc.
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Kumho P&B Chemicals Inc.
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Solvay S.A.
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 LUKOIL
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Mitsui & Co. Ltd.
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 PTT Global Chemical Public Company Limited
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 INEOS Group Holdings S.A.
List Of Figures
Figures No 1 to 27
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- INEOS Group Holdings S.A.
- The Dow Chemical Company
- Mitsui Chemicals Inc.
- Royal Dutch Shell plc
- Formosa Chemicals & Fibre Corporation
- Honeywell International Inc.
- China National Petroleum Corporation
- Sinopec Group
- CEPSA
- Reliance Industries Limited
- Sunoco LP
- LyondellBasell Industries N.V.
- LG Chem Ltd.
- Saudi Basic Industries Corporation
- JXTG Holdings Inc.
- Kumho P&B Chemicals Inc.
- Solvay S.A.
- LUKOIL
- Mitsui & Co. Ltd.
- PTT Global Chemical Public Company Limited
- Others
FAQs
The restraints of the Acetone market is environmental concerns regarding its production and usage.
The major driver for the Acetone market is increasing demand for solvents from pharmaceuticals industries and growing demand for methyl methacrylate (MMA) and bisphenol-A (BPA) from end-use industries.
The “Solvents” had the largest share in the global market for Acetone.
The key players in the market are INEOS Group Holdings S.A., The Dow Chemical Company, Mitsui Chemicals Inc., Royal Dutch Shell plc, Formosa Chemicals & Fibre Corporation, Honeywell International Inc., China National Petroleum Corporation, Sinopec Group, CEPSA, Reliance Industries Limited, Sunoco LP, LyondellBasell Industries N.V., LG Chem Ltd., Saudi Basic Industries Corporation, JXTG Holdings Inc., Kumho P&B Chemicals Inc., Solvay S.A., LUKOIL, Mitsui & Co. Ltd., PTT Global Chemical Public Company Limited, Others.
“Asia-Pacific” had the largest share in the Acetone Market.
The global market is projected to grow at a CAGR of 5.6% during the forecast period, 2024-2033.
The Acetone Market size was valued at USD 6.5 Billion in 2024.