Global Acetone Market Size, Share, And Growth Analysis For 2024-2033
Global Acetone Market Size, Share And Growth Analysis For 2024-2033
Global Acetone Market Size, Trends, And Forecast 2024-2033
LONDON , GREATER LONDON , UNITED KINGDOM, October 1, 2024 /EINPresswire.com/ -- The acetone market has experienced robust growth in recent years, expanding from $5.13 billion in 2023 to $5.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to chemical manufacturing demand, solvent and paint industry, plastics and resin production, pharmaceutical and cosmetic applications, expanding chemical and petrochemical industries.
What Is TheEstimated Market Size Of The Global Acetone Market And Its Annual Growth Rate?
The acetone market is projected to continue its strong growth, reaching $7.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to expanding use in solvents and coatings, demand from plastics and resins sector, rise in pharmaceutical and cosmetic applications, expanding use in industrial cleaning products, global economic expansion.
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Growth Driver OfThe Acetone Market
Increased demand for personal care products is driving the acetone market. Personal care products refer to a consumer goods used for hygienic practices, grooming, and beautification. Acetone is a key chemical compound used in personal care products, thus drives up acetone demand.
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Which Market Players Are Driving TheAcetone Market Growth?
Key players in the market include INEOS Phenol GmbH, Royal Dutch Shell PLC, Honeywell International Inc., Prasol Chemicals Limited, Mitsui Chemicals Inc., Kumho P&B Chemicals Inc., Saudi Basic Industries Corporation., LyondellBasell Industries Holdings B.V., ALTIVIA Chemicals LLC, Domo Chemicals GmbH, Formosa Chemicals & Fibre Corp, Borealis AG, Reliance Industries Limited, CEPSA Quimica S.A, Arkema S.A., Celanese Corporation, The Dow Chemical Company, LG Chem Ltd., Deepak Nitrite Limited, PTT Global Chemical Public Company Limited, China National Petroleum Corporation, Jubilant Life Sciences Ltd., Dairen Chemical Corporation, Chevron Phillips Chemical Company LLC, Versalis S.p.A., Daicel Corporation, JX Nippon Oil & Energy Corporation, PetroChina Company Limited, Lihuayi Group Co. Ltd., SunVic Chemical Holdings Limited, A.B. Enterprises, Wuhan Youji Industries Co. Ltd., Tangshan Lory Industry Co. Ltd., Aadi Industries Ltd., Qenos Pty Ltd., Rain Carbon Inc.
What Are TheEmerging Trends Shaping The Acetone Market Size?
Major companies operating in the acetone market are focused on investing in the new production plants to expand their footprints and strengthen their position in the market. The company's investments aim to aid in the expansion of its own company and have the potential to improve production capabilities and implement innovations.
How Is TheGlobal AcetoneMarket Segmented?
1) By Grade: Specialty Grade Acetone, Technical Grade Acetone
2) By Distribution Channel: Manufacturer to Distributor, Manufacturer to End-User
3) By Application: Bisphenol A, Methyl Methacrylate (MMA), Solvents, Methyl Isobutyl Ketone, Other Applications,
4) By End-User: Paints, Coatings, and Adhesives, Electronics, Cosmetics and Personal Care, Pharmaceutical, Other End-user
Geographical Insights: Asia-Pacific Leading TheAcetoneMarket
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Acetone Market Definition
Acetone is a colorless liquid solvent with a distinct odor and taste that can be used to break down and dissolve with other compounds. It is utilized as a solvent in the production of plastics and other industrial and cosmetics products.
Acetone Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global acetonemarket report covering trends, opportunities, strategies, and more
The Acetone Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on acetone market size, acetone market driversand trendsand acetonemarket growth across geographies. Thisreport helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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