# Acetone Market

> Acetone Market Research Report Information By Application (Methyl Methacrylate, Bisphenol A, Solvents, Powder, Others), By End-Use (Plastic, Chemical, Pharmaceutical, Cosmetics & Personal Care, Paint & Coatings, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2035

- **Forecast Period:** 2025 - 2035
- **CAGR:** 6.68%
- **2024:** $ 6.77 Billion
- **2025:** $ 7.23 Billion
- **2035:** $ 13.8 Billion
- **Key Players:** BASF SE (DE), Mitsubishi Chemical Corporation (JP), Royal Dutch Shell plc (GB), SABIC (SA), LG Chem Ltd. (KR), Dow Inc. (US), ExxonMobil Chemical (US), INEOS Group Limited (GB), Formosa Plastics Corporation (TW)

**Report ID:** MRFR/CnM/0527-HCR · **Pages:** 140 · **Author:** Chitranshi Jaiswal · **Last Updated:** April 06, 2026

**URL:** https://www.marketresearchfuture.com/reports/acetone-market-1033

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## Market Summary

## **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.

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

## **Acetone Market Trends**

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](../../../reports/methyl-methacrylate-mma-market-18825), 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)**

Source: Secondary Research, Primary Research, _Market Research Future_ 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 (%)**

Source: Secondary Research, Primary Research, _Market Research Future_ 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**

## **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**

### **Acetone End-Use Outlook**

### **Acetone Regional Outlook**

## Market Drivers

### Expansion in the Automotive Sector

The automotive industry plays a crucial role in shaping the Acetone Market. Acetone Market is utilized in the production of various automotive components, including adhesives and sealants. As the automotive sector evolves, particularly with the rise of electric vehicles, the demand for lightweight materials and efficient manufacturing processes increases. In recent years, the automotive industry has shown a compound annual growth rate of around 5%, which correlates with the rising need for acetone in manufacturing processes. This expansion indicates that the Acetone Market is likely to benefit from the automotive sector's growth, as manufacturers seek to optimize production efficiency and enhance product quality.

### Rising Demand in Paints and Coatings

The Acetone Market experiences a notable surge in demand from the paints and coatings sector. Acetone Market serves as a solvent in various formulations, enhancing the application properties of paints. The increasing construction activities and renovation projects contribute to this trend, as the need for high-quality finishes rises. In 2023, the paints and coatings segment accounted for approximately 30% of the total acetone consumption, indicating a robust market presence. As manufacturers seek to improve product performance, the reliance on acetone is likely to persist, driving further growth in the Acetone Market. This trend suggests that the paints and coatings sector will continue to be a pivotal driver, influencing the overall dynamics of acetone demand.

### Increased Use in Personal Care Products

The Acetone Market is witnessing a growing trend in the personal care sector, where acetone is employed as a solvent in nail polish removers and other cosmetic formulations. The rising consumer awareness regarding personal grooming and hygiene is propelling the demand for these products. In 2023, the personal care segment represented approximately 15% of the total acetone consumption, highlighting its significance in the market. As consumers increasingly prioritize quality and performance in personal care items, the reliance on acetone is expected to grow. This trend suggests that the personal care industry will continue to be a vital driver for the Acetone Market, influencing product development and innovation.

### Surge in Demand for Industrial Solvents

The Acetone Market is significantly influenced by the rising demand for industrial solvents across various sectors. Acetone Market is favored for its effectiveness in dissolving a wide range of substances, making it a preferred choice in industries such as pharmaceuticals, textiles, and electronics. The industrial solvents segment has shown a steady growth rate, with acetone accounting for a substantial share of this market. In 2023, the industrial solvents category represented nearly 40% of the total acetone consumption, underscoring its critical role. As industries continue to expand and innovate, the demand for acetone as a versatile solvent is likely to remain strong, further propelling the growth of the Acetone Market.

### Technological Innovations in Production Processes

The Acetone Market is poised for growth due to ongoing technological innovations in production processes. Advances in manufacturing techniques, such as the development of more efficient catalytic processes, are enhancing acetone production yields and reducing costs. These innovations not only improve the economic viability of acetone production but also align with sustainability goals by minimizing waste and energy consumption. As companies invest in research and development to optimize production methods, the overall efficiency of acetone manufacturing is expected to improve. This trend indicates that technological advancements will play a pivotal role in shaping the future landscape of the Acetone Market, potentially leading to increased supply and competitive pricing.

## Future Outlook

The Acetone Market is projected to grow at a 6.68% CAGR from 2025 to 2035, driven by increasing demand in pharmaceuticals, cosmetics, and industrial applications.

**New opportunities:**

- Expansion into bio-based acetone production methods. Development of acetone derivatives for specialty chemicals. Investment in advanced recycling technologies for acetone recovery.

By 2035, the Acetone Market is expected to achieve robust growth, solidifying its position in various industries.

## Segment Insights

### By Application: Methyl Methacrylate (Largest) vs. Solvents (Fastest-Growing)

In the acetone market, the application segment is divided into several key areas, with Methyl Methacrylate holding the largest share. Its substantial use in various industries contributes to this dominance, especially in the production of acrylic sheets and resins. Additionally, the Solvents category has emerged as a major contender, fueled by increasing demand in pharmaceutical and automotive sectors.

Methyl Methacrylate (Dominant) vs. Solvents (Emerging)

[Methyl Methacrylate (MMA)](https://www.marketresearchfuture.com/reports/methyl-methacrylate-mma-market-18825) stands out as the dominant application in the acetone market, utilized primarily for its effectiveness in creating durable and transparent materials. It plays a critical role in the production of various acrylic products, which are widely used in construction, automotive, and consumer goods. Conversely, Solvents represent an emerging application, rapidly gaining traction due to their versatile use in adhesives, coatings, and cleaning agents. The increasing shift towards eco-friendly solvents is driving innovation and demand in this segment, positioning it for accelerated growth in the coming years.

### By End-Use: Plastic (Largest) vs. Cosmetics & Personal Care (Fastest-Growing)

The Acetone Market displays a diverse distribution of end-use applications, with [plastics](https://www.marketresearchfuture.com/reports/plastics-market-8347) taking the lead in market share. This segment utilizes acetone primarily for producing various forms of synthetic resin and polymer products, thereby driving significant demand. Following closely are chemicals and pharmaceuticals, which also account for substantial share due to acetone's role as a solvent and intermediate. Other sectors, such as paint and coatings, are vital but exhibit varying shares based on regional regulations and consumer preferences.

Plastic (Dominant) vs. Cosmetics & Personal Care (Emerging)

In the Acetone Market, the plastic segment stands out as the dominant force, leveraging acetone for its effectiveness in polymer production and blending processes. This sector's strong demand is driven by the expanding plastic industry, which continues to grow due to rising consumption in packaging and automotive applications. On the other hand, the cosmetics and personal care segment is emerging swiftly, utilizing acetone in products such as nail polish removers and skincare preparations. The increasing focus on cosmetic formulations with natural ingredients is a key driver of growth in this segment, reflecting changing consumer preferences toward innovative and safe personal care solutions.

## Regional Market Share Analysis

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.

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.

## Competitive Benchmarking

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](https://investors.dow.com/en/news/news-details/2019/Dow-announces-divestiture-of-its-Acetone-Derivatives-business/default.aspx), BASF, Mitsui Chemicals Inc, [Shell Chemical Co](https://www.shell.com/business-customers/chemicals/our-products/acetone.html), 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.

## Recent News & 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.

## Report Scope

| MARKET SIZE 2024 | 6.774(USD Billion) |
| --- | --- |
| MARKET SIZE 2025 | 7.227(USD Billion) |
| MARKET SIZE 2035 | 13.8(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 6.68% (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 | BASF SE (DE), Mitsubishi Chemical Corporation (JP), Royal Dutch Shell plc (GB), SABIC (SA), LG Chem Ltd. (KR), Dow Inc. (US), ExxonMobil Chemical (US), INEOS Group Limited (GB), Formosa Plastics Corporation (TW) |
| Segments Covered | Application, End-Use, Region |
| Key Market Opportunities | Growing demand for bio-based acetone production presents new opportunities in the Acetone Market. |
| Key Market Dynamics | Rising demand for acetone in pharmaceuticals and cosmetics drives competitive dynamics and supply chain adjustments. |
| Countries Covered | North America, Europe, APAC, South America, MEA |

## Frequently Asked Questions

**Q: What is the current valuation of the Acetone Market as of 2024?**
A: The Acetone Market was valued at 6.774 USD Billion in 2024.

**Q: What is the projected market valuation for the Acetone Market in 2035?**
A: The projected valuation for the Acetone Market in 2035 is 13.8 USD Billion.

**Q: What is the expected CAGR for the Acetone Market during the forecast period 2025 - 2035?**
A: The expected CAGR for the Acetone Market during the forecast period 2025 - 2035 is 6.68%.

**Q: Which companies are considered key players in the Acetone Market?**
A: Key players in the Acetone Market include BASF SE, Mitsubishi Chemical Corporation, Royal Dutch Shell plc, SABIC, LG Chem Ltd., Dow Inc., ExxonMobil Chemical, INEOS Group Limited, and Formosa Plastics Corporation.

**Q: What are the main application segments of the Acetone Market?**
A: The main application segments of the Acetone Market include Methyl Methacrylate, Bisphenol A, Solvents, Powder, and Others.

**Q: What is the projected growth for the Solvents segment in the Acetone Market by 2035?**
A: The Solvents segment is projected to grow from 2.0 USD Billion in 2024 to 4.0 USD Billion by 2035.

**Q: How does the Acetone Market's performance in the Chemical end-use segment compare to others?**
A: The Chemical end-use segment is expected to grow from 2.0 USD Billion in 2024 to 4.0 USD Billion by 2035, indicating robust performance.

**Q: What is the expected growth of the Pharmaceutical segment in the Acetone Market by 2035?**
A: The Pharmaceutical segment is projected to increase from 0.8 USD Billion in 2024 to 1.5 USD Billion by 2035.

**Q: Which end-use segment is anticipated to have the highest growth in the Acetone Market?**
A: The Plastic end-use segment is anticipated to grow from 1.5 USD Billion in 2024 to 3.0 USD Billion by 2035.

**Q: What does the future hold for the Acetone Market in terms of overall growth?**
A: The Acetone Market appears poised for substantial growth, with a projected valuation increase to 13.8 USD Billion by 2035.


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