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Acetone Market Size

ID: MRFR//0527-HCR | 140 Pages | Author: Chitranshi Jaiswal| December 2024

Acetone liquid can catch fire, is transparent as well as colorless, with a nice smell. Cumene peroxidation is used for making phenol. Acetone is used to make acetone cyanohydrin, which is the first step in making MMA and BPA. Heavy metals can be taken out of this material, and it can also clean and peel chemicals used in personal care, building, paints and coatings, plastics, and medicines.
Acetone is used in glues, paints, cleaners, and nail polish removers because it works well with many things and evaporates quickly.
Direct liquids are used by most of the world's acetone business. MMA has the second-largest market share in the world, after bisphenol A. One important part of polymethyl methacrylate (PMMA) is methyl methacrylate. PMMA is used to make plastic sheets, molds, and extruder compounds. PMMA resins are important in the computer, building, and auto industries, which is good for polycarbonate businesses.
This is because of globalization, more people wanting personal care goods, and more money being spent by the government on building projects. Acetone is likely to become more common as it is used more in plastics. The business is likely to grow even more between 2023 and 2030, as more people move to cities and people in growing countries get better jobs.
For the study, the acetone market is split up by product, end-use business, and location.
Methyl methacrylate, bisphenol A, liquids, powder, and other uses make up the different parts of the global acetone market. Bisphenol A, used to create polycarbonate, will certainly rise rapidly in the next years. Polycarbonates strengthen buildings, automobiles, and electronics.
Acetone has uses in paint and coatings, personal care and cosmetics, medicines, chemicals, polymers, and more. Acetone is mostly used by people who work in personal care, especially to keep polish remover uniformity.
Acetone can be used to make cleaners, perfumes, and hair care items. More oily skin care items are now using acetone, which could make more people want to buy them. Between 2023 and 2030, the acetone market is projected to grow at a CAGR of 6.68% and reach 10.1 billion.
Acetone is very important to the beauty business because it is what nail paint stripper is made of. Acetone is a solvent that is used in face creams. Peeling is also used to treat acne with this ingredient. The market would do better if more people bought these things that use acetone.

Covered Aspects:

Report Attribute/Metric Details
Market Size Value In 2022 USD 6.02 Billion
Market Size Value In 2023 USD 6.35 Billion
Growth Rate 6.68% (2023-2030)

Global Acetone Market Overview


The  Acetone Market Size was valued at USD 6.02 Billion in 2022. The Acetone industry is projected to grow from USD 6.35 Billion in 2023 to USD 10.1 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.68% during the forecast period (2023 - 2030). Acetone has a distinct, sweetish odor and is highly flammable, with a low flashpoint. It is miscible with water and a wide range of organic solvents, making it an effective solvent for many types of compounds. Acetone is also used as a starting material for the synthesis of other chemicals and as a feedstock in the production of other solvents. In addition to industrial and laboratory applications, acetone is also used in some personal care products, such as nail polish removers and some skin care products. It is also used as a fuel additive and as a component in some types of adhesives and coatings. However, it should be used with caution due to its flammability and potential health hazards associated with exposure.Acetone Market Overview


   Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Acetone Market Trends




  • The pharmaceutical industry's high need for solvents will aid the growth




In the industrial sector, the solvent is frequently utilized. Solvents are used in a variety of everyday applications, including paints & coatings, adhesives, thinners, cleaning solutions, and nail polish removers. It is widely used in the paint and coating industries because of its low VOC content. Solvents are commonly employed in pharmaceutical applications to synthesize ascorbic acid and as an extractant for hormones and microorganisms. Due to the COVID-19 outbreak, there has recently been a huge surge in the manufacturing of sanitizers, disinfectants, and other sanitization products. Isopropanol is a major chemical generated from dimethyl ketone and employed in the manufacture of such sanitization treatments. The acetone sector is also predicted to benefit from increased demand for personal care goods and cosmetics. Dimethyl ketone-related compounds are used to clean chemical stains and are becoming more popular in the production of different industrial solvents. The chemical, which is miscible with water and other organic molecules, is predicted to see growing demand in the manufacturing of solvents.


The International Monetary Fund (IMF) in July 2023 warned that there could be a shortage of acetone worldwide in the future. The rising demand from chemical and plastic industries, as well as disturbances in supply from Russia and China, were cited by the IMF as the main reasons for the possible shortage. This further emphasizes how market expansion, stability, diversification and investments in acetone manufacturing become necessary amidst supply disruptions from key players like Russia and China.


Acetone Market Segment Insights


Acetone Application Insights


The market segmentation, based on Application, includes Methyl Methacrylate, Bisphenol A, Solvents, Powder, and Others. The Bisphenol A segment may dominate the market. Bisphenol A is predicted to witness rapid growth over the forecast period for its usage in polycarbonate production. These polycarbonates are used in different end-use industries like electronics, automotive, and construction.


Acetone End-Use Insights


Based on End-Use, the market segmentation includes Plastic, Chemical, Pharmaceutical, Cosmetics & Personal Care, Paint & Coatings, and others. The personal care segment leads the demand for the market for maintaining product consistency in polish removers. In addition, it is also used in hair care products, cleansers, and fragrance formulations. Furthermore, increasing the usage of acetone in skincare products for oily skin is expected to increase the demand.


Kumho P&B Chemicals announced that ISCC PLUS certification had been received for five products (Cumene, Phenol, Acetone, Bisphenol-A, Epoxy resin) in June 2023. Consequently, increased demand for environmentally friendly acetone drives sales growth, expands market reach and solidifies Kumho P&B Chemicals' position in the acetone market. Trustworthiness and loyalty are promoted by this certificate among eco-conscious buyers.


Figure 2:  Acetone Market, by Application, 2022 & 2030 (USD Billion)


Acetone Market, by Application, 2022 & 2030 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review 


Acetone Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region leads the highest market share due to the leading position of consumers and producers of methyl methacrylate in China. In addition, the rising demand for plastic products leads to drive the demand for methyl methacrylate.


Figure 3:  ACETONE MARKET SHARE BY REGION 2022 (%)ACETONE MARKET SHARE BY REGION 2022 (%)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


North America has high growth potential for the market due to the flourishing petrochemical industry in the US and hence drives the acetone application in chemical and plastic industries. Europe holds tremendous potential growth of market volume in the next five years to recover the chemical industry. Latin America is expected to influence acetone consumption during the fastest-growing cosmetics & personal care products industry during the forecast period. Moreover, Mexico is the eighth-largest oil producer across the globe. This is one of the fastest-growing countries for the largest exports of electrical products, automotive vehicles, and machinery.


Acetone Key Market Players & Competitive Insights


The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Acetone industry must offer affordable products.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Acetone industry to benefit customers and expand the market sector. Major market players, including Honeywell International Inc, Dow, BASF, Mitsui Chemicals Inc, Shell Chemical Co, LG Chem Ltd, and others, are attempting to increase market demand by funding R&D initiatives.


Dow is a leading American multinational chemical company that operates in various industries, including packaging, infrastructure, consumer care, and electronics. Dow is organized into three business segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. The Packaging & Specialty Plastics segment produces packaging materials and films, while the Industrial Intermediates & Infrastructure segment produces chemicals used in manufacturing, including solvents, plastics, and adhesives. The Performance Materials & Coatings segment produces materials used in industrial and consumer applications, including coatings and adhesives.


Mitsui Chemicals Inc. is a Japanese multinational chemical company that operates in a wide range of industries, including petrochemicals, basic chemicals, and performance materials. Mitsui Chemicals is organized into five business segments: Mobility, Health Care, Food & Packaging, Basic Materials, and Others. The Mobility segment produces materials used in the automotive industry, including engineering plastics and films. The Health Care segment produces materials for medical devices and pharmaceuticals. The Food & Packaging segment produces materials used in food packaging, including films and containers. The Basic Materials segment produces basic chemicals, such as phenol and acetone, as well as performance materials such as elastomers, synthetic resins, and films. The Others segment includes businesses related to energy and the environment.


LG Chem Ltd started exporting their first batch of bio-balanced phenol/acetone from July 2022 onwards. The use of renewable bio-feedstocks such as biomass or waste cooking oil obtained from renewable sources makes this an ISCC PLUS-certified product. South Korea has exported biggest volume of ISCC PLUS certified product so far: 4000 tons ​​of phenol plus 1,200 tons ​​of acetone alone.


Key Companies in the Acetone market include



  • Honeywell International Inc

  • Dow

  • Ineos

  • Formosa Chemicals & Fibre Corp

  • BASF

  • Mitsui Chemicals Inc

  • Shell Chemical Co

  • LG Chem Ltd

  • Reliance Chemicals Pvt Ltd

  • Kumho P & B Chemicals


Acetone Industry Developments


In July 2022, LG Chem announced that it would export 1,200 tons of acetone and 4,000 tons of phenol. According to the company, this is South Korea's largest shipment of products with the ISCC PLUS certification.


In June 2023, Eastman Chemical said it would spend $100 million expanding its acetone production at Kingsport, Tennessee. Chemicals used in making plastics and other substances will also rise, thus necessitating this expansion.

In July 2023, the International Monetary Fund (IMF) warned that the global acetone market could be facing a shortage in the near future. The IMF cited rising demand from the chemical and plastics industries, as well as supply disruptions from Russia and China, as the main reasons for the potential shortage.


Acetone Market Segmentation


Acetone Application Outlook



  • Methyl Methacrylate

  • Bisphenol A

  • Solvents

  • Powder

  • others


Acetone End-Use Outlook



  • Plastic

  • Chemical

  • Pharmaceutical

  • Cosmetics & Personal Care

  • Paint & Coatings

  • others


Acetone Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



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