US Acetone Market Research Report: By Application (Methyl Methacrylate, Bisphenol A, Solvents, Powder, Others) and By End-Use (Plastic, Chemical, Pharmaceutical, Cosmetics & Personal Care, Paint & Coatings, Others) - Forecast to 2035

US Acetone Market Research Report: By Application (Methyl Methacrylate, Bisphenol A, Solvents, Powder, Others) and By End-Use (Plastic, Chemical, Pharmaceutical, Cosmetics & Personal Care, Paint & Coatings, Others) - Forecast to 2035.

US Acetone Market Overview:

As per MRFR analysis, the US Acetone Market Size was estimated at 0.95 (USD Billion) in 2023. The US Acetone Market Industry is expected to grow from 1.01(USD Billion) in 2024 to 2.09 (USD Billion) by 2035. The US Acetone Market CAGR (growth rate) is expected to be around 6.81% during the forecast period (2025 - 2035).

Key US Acetone Market Trends Highlighted

The US Acetone Market is experiencing several key market trends driven by increasing demand from various end-use industries, particularly in the production of solvents, chemicals, and plastics. The rise in industries such as automotive, electronics, and pharmaceuticals is pushing up the consumption of acetone, which is crucial in manufacturing processes. Additionally, the growing trend towards eco-friendly and sustainable products is prompting manufacturers to explore renewable sources of acetone, aligning with the US government's focus on reducing greenhouse gas emissions and promoting sustainable practices. Opportunities in the market are particularly evident in the development of bio-based acetone, which can appeal to environmentally conscious consumers and companies looking to comply with regulations regarding sustainability.Also, advancements in production technology could lower costs and increase output, presenting a significant opportunity for manufacturers in the US to enhance their competitiveness. The expansion of e-commerce in the chemical industry is another area where companies can explore new business models to reach a broader customer base. In recent times, fluctuations in raw material prices along with supply chain disruptions have been notable trends affecting the market. The US's reliance on imports for certain chemical feedstocks has prompted a closer examination of domestic production capabilities. As this focus on self-sufficiency grows, companies may invest in local production facilities.There’s also a heightened interest in understanding regulatory impacts, especially regarding health and safety standards set by the Environmental Protection Agency. This oversight is shaping the market dynamics, ensuring that manufacturers remain compliant while meeting an evolving consumer preference for safer chemical products.

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

US Acetone Market Drivers

Growing Demand for Acetone in the Cosmetics Industry

The US Acetone Market Industry is experiencing significant growth due to the rising demand for acetone as a solvent in the cosmetics and personal care sector. A report by the Personal Care Products Council highlighted that the US cosmetics industry generated approximately 93.1 billion USD in retail sales in 2020, with a steady growth rate projected at around 5 percent annually. Acetone is used for various applications including nail polish removers and skin formulations, which supports its increasing use in the sector.As consumer preferences shift towards products that are effective yet safe, acetone continues to be a favored ingredient because of its rapid evaporation rate and efficacy. Large companies like Procter & Gamble and Estée Lauder are notably expanding their product lines, further enhancing the demand for acetone in the US market. This substantial growth in the cosmetics industry directly drives the demand for acetone, indicating a favorable outlook for the US Acetone Market.

Increased Use of Acetone in the Production of Pharmaceuticals

The US Acetone Market Industry is witnessing growth due to the rising usage of acetone in pharmaceutical manufacturing processes. The American Chemical Society notes that acetone is employed in the synthesis of several pharmaceutical intermediates. With pharmaceutical sales in the US projected to surpass 600 billion USD by 2025, as indicated by industry forecasts from the National Association of Boards of Pharmacy, the demand for solvents, including acetone, is likely to increase significantly.Established pharmaceutical companies such as Pfizer and Johnson & Johnson are ramping up their production, further contributing to the acetone requirements in their manufacturing processes. This trend of increased production capacity in the pharmaceutical sector is thereby boosting the US Acetone Market.

Rising Demand for Acetone in Paints and Coatings

Another driving factor for the US Acetone Market Industry is its escalating application in the paints and coatings sector. According to the American Coatings Association, the US coatings industry is expected to grow at a compound annual growth rate of 3.7 percent reaching nearly 30 billion USD by 2024. Acetone is extensively utilized as a solvent in various coatings, contributing to its growth. The fast-drying characteristic of acetone makes it ideal for use in spray coatings, automotive paints, and industrial coatings where efficiency is paramount.Major players in this field, such as Sherwin-Williams and PPG Industries, are investing in new technologies that require enhanced solvent components, further driving the demand for acetone in the paints and coatings market. This is indicative of a robust future for the US Acetone Market.

US Acetone Market Segment Insights:

Acetone Market Application Insights

The US Acetone Market is characterized by its diverse applications, which play a crucial role in various industries and contribute significantly to the overall market dynamics. Among these applications, the utilization of acetone in Methyl Methacrylate (MMA) production is noteworthy, as MMA serves as a key raw material in the manufacture of acrylics and polymers used in a wide range of consumer products, from automotive components to household items. This segment has exhibited rising demand due to the increasing adoption of transparent plastics and composite materials across various sectors. Another significant segment is Bisphenol A (BPA), where acetone acts as a vital solvent. BPA is predominantly used in the production of polycarbonate plastics and epoxy resins. The growing consumption of BPA-based products in the automotive and electronics industries fuels this segment's demand, as more manufacturers are seeking materials that are both durable and lightweight. Additionally, the solvents category within the US Acetone Market continues to expand. Acetone is a versatile solvent employed in coatings, adhesives, and cleaning products, aligning with the rising trend towards eco-friendly and sustainable solutions in the chemical industry. The move towards water-based formulations in paints and coatings is driving the need for acetone, which serves as an effective solvent in formulation processes.Furthermore, the powdered segment capitalizes on acetone's role as a processing agent in cosmetic formulations, particularly in the production of nail polish and other beauty products. The beauty and personal care market is witnessing rapid growth, with an increasing focus on high-quality and performance-driven products, thereby elevating the significance of acetone in this realm.Lastly, the 'Others' category encompasses several specialized applications of acetone, which may include its use in pharmaceutical applications and various niche industrial processes. As these lesser-known applications gain traction, this segment's importance is expected to rise.Overall, the Application segment of the US Acetone Market reflects a landscape marked by robust demand driven by evolving industry trends, regulatory shifts towards safe chemicals, and a collective move towards sustainability. With these dynamic elements shaping the landscape, acetone remains a critical component in enhancing product performance across its diverse range of applications. The trends in innovation and technological advancements within the market further open avenues for growth, positioning the US Acetone Market securely within the broader chemical industry landscape.

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

Acetone Market End-Use Insights

The US Acetone Market is experiencing significant dynamics with its End-Use segment showcasing diverse applications that contribute to market growth. Industries such as Plastic and Chemical production heavily rely on acetone as a crucial solvent and intermediary, driving demand in manufacturing processes. The Pharmaceutical sector draws on acetone for the synthesis and extraction of various compounds, underscoring its importance in drug development and production. Cosmetics and Personal Care products often contain acetone due to its effective solvent properties, appealing to manufacturers seeking lightweight formulations.In the Paint and Coatings industry, acetone is integral for thinning and cleaning, playing a vital role in product consistency and application. Other sectors also utilize acetone, reflecting its versatility. Overall, the US Acetone Market segmentation highlights trends towards sustainable and efficient formulations, with environmental regulations influencing industry practices. As a result, businesses are presented with opportunities to innovate while navigating challenges such as price volatility and raw material availability, which underscore the adaptability of these sectors in a competitive landscape.

US Acetone Market Key Players and Competitive Insights:

The US Acetone Market presents a dynamic landscape characterized by competitive insights that reflect the diverse strategies adopted by key players. Acetone is a vital solvent and chemical intermediate widely utilized in various applications, including industrial processes, pharmaceuticals, and consumer products such as nail polish remover. Market players in this sector continually adapt to changing consumer demands, regulatory requirements, and technological advancements. The competitive environment underscores the importance of research and development, as companies strive to enhance product quality and sustainability while reducing production costs. Moreover, the growing emphasis on eco-friendly alternatives positions players in this market to seek innovative solutions to meet both regulatory standards and consumer preferences, thereby driving competitive strategies and market positioning.Formosa Plastics Corporation has established a notable presence in the US Acetone Market, leveraging its robust production capabilities and extensive manufacturing infrastructure. The company is recognized for its efficient production processes, which contribute to maintaining competitive pricing for acetone. Formosa Plastics Corporation excels in providing high-quality acetone that meets diverse customer specifications, catering to various industrial applications. The firm's strengths include its strong supply chain and customer relations, enabling it to respond effectively to market fluctuations and customer demands. Furthermore, the company's commitment to sustainability initiatives enhances its market positioning, as it continuously seeks ways to minimize environmental impact while maintaining operational efficiency within the acetone production cycle.HUNTSMAN CORPORATION also plays a significant role in the US Acetone Market, with a diverse portfolio of high-performance products and services tailored to meet industry needs. The company is known for manufacturing specialty chemicals that incorporate acetone, which are vital in sectors such as coatings, adhesives, and plastics. HUNTSMAN CORPORATION's strength lies in its innovation-driven approach and commitment to research, allowing it to develop cutting-edge products that address evolving market requirements. The firm has actively pursued acquisitions and mergers to bolster its product offerings and expand its market reach, enhancing its competitive edge. Their extensive experience in chemical manufacturing and customer-focused solutions positions HUNTSMAN CORPORATION as a formidable player in the acetone market, driving growth through strategic initiatives and partnerships in the United States.

Key Companies in the US Acetone Market Include:

Formosa Plastics Corporation

HUNTSMAN CORPORATION

DOW CHEMICAL COMPANY

SABIC

LyondellBasell Industries

RELIANCE INDUSTRIES LIMITED

CUMMINS INC

AVENTIS

INEOS

SABIC INNOVATIVE PLASTICS US LLC

BASF SE

LG CHEM LTD

Eastman Chemical Company

MOMENTIVE PERFORMANCE MATERIALS INC

EXXON MOBIL CORPORATION

US Acetone Market Industry Developments

The US Acetone Market has recently seen significant developments, particularly in response to rising demand in various applications, including pharmaceuticals and cosmetics. Formosa Plastics Corporation and DOW Chemical Company have been increasing their production capacities, reflecting an optimistic outlook in the acetone sector. Furthermore, in June 2023, SABIC announced plans to expand its operations, investing significantly to enhance its acetone output to meet surging market needs. Growth in market valuation can also be seen with LyondellBasell Industries revealing a notable increase in its quarterly earnings, attributed partly to strong acetone sales. Additionally, in September 2022, Eastman Chemical Company expanded its sustainable acetone production, highlighting a shift towards eco-friendly solutions. In terms of mergers and acquisitions, HUNTSMAN CORPORATION has been active, acquiring a specialty chemical maker, bolstering its acetone-related portfolio, with the deal announced in August 2023. Overall, the US Acetone Market is witnessing a dynamic growth phase influenced by both increasing demand and strategic corporate activities among major players such as Reliance Industries Limited and BASF SE, who are continuously exploring growth opportunities in the sector.

US Acetone Market Segmentation Insights

Acetone Market Application Outlook

Methyl Methacrylate

Bisphenol A

Solvents

Powder

Others

Acetone Market End-Use Outlook

Plastic

Chemical

Pharmaceutical

Cosmetics & Personal Care

Paint & Coatings

Others

Report Scope: ,,,,,,,,,,,,,

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	0.95(USD Billion)
MARKET SIZE 2024	1.01(USD Billion)
MARKET SIZE 2035	2.09(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	6.81% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Formosa Plastics Corporation, HUNTSMAN CORPORATION, DOW CHEMICAL COMPANY, SABIC, LyondellBasell Industries, RELIANCE INDUSTRIES LIMITED, CUMMINS INC, AVENTIS, INEOS, SABIC INNOVATIVE PLASTICS US LLC, BASF SE, LG CHEM LTD, Eastman Chemical Company, MOMENTIVE PERFORMANCE MATERIALS INC, EXXON MOBIL CORPORATION
SEGMENTS COVERED	Application, End-Use
KEY MARKET OPPORTUNITIES	Growing demand in pharmaceuticals, Rise in solvent applications, Increasing use in cosmetics, Expansion in automotive coatings, Advancements in production technologies
KEY MARKET DYNAMICS	Growing demand in pharmaceuticals, Increasing use in coatings, Expansion of automotive sector, Rising production capacities, Environmental regulations impacting usage
COUNTRIES COVERED	US