Acetone Market (2020 to 2025) - Growth, Trends, COVID-19 Impact and Forecasts

 

The acetone market has significant growth scope and is estimated to reach USD 5.6 billion by 2025. The reports forecast the acetone market by grade, application, and sales channel, and region. It also highlights COVID-19 impact on the acetone industry.

 

Description

Acetone Market- by Grade (Specialty Grade and Technical Grade), by Application (Methy Methacrylate, Bisphenol A and Solvents), by Sales Channel (Online, offline) and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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The acetone market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the acetone market aspects.

 

Acetone Market: Introduction

The acetone market size is USD 5.6 billion in 2019 and is expected to register a CAGR of 5.5% during the forecast period 2020-2025. Acetone is a flammable, colorless, volatile liquid commonly used as an industrial solvent. Acetone is produced as a byproduct during phenol manufacturing. It has widely used in industrial and domestic. Prominent end-use industries in the acetone market are pharmaceutical, cosmetics, and paints, and adhesives industries. The pharmaceutical and cosmetic industries have unveiled growth potential due to growing demand from emerging economies and increasing cosmetics spending.

Factors Affecting the Acetone Industry Over the Forecast Period

• Inreasing demand for acetone in paints and coatings, construction, and automotive industries is expected to boost the growth of the acetone market.
• Rising price of propylene and strict regulations in the chemical industry is one of the key challenges for the growth of the acetone market.
• Increasing product utilization as an active ingredient in removers, cleaning products, degreasers, and thinners is anticipated to fuel the growth of acetone growth.
• Acetone is considered as a menacing chemical that significantly affects groundwater and human health which is considered to be a challenge for the growth of the market.
• High exposure of acetone may cause unconsciousness, seizures and respiratory distress, thus hampering product demand

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Impact of COVID-19 on Acetone Market:

During the COVID 19 pandemic, the global acetone market has witnessed a substantial supply-demand gap, which results in a drop in the overall sales. End-use industries are going through huge setbacks that affect the overall demand for the acetone

Scope of the Report

The report outlines the global acetone market study based on grade, application, and sales channel

Based on the grade, the acetone market has been segmented into –

• Specialty Grade
• Technical Grade

Based on the application, the acetone market has been segmented into –

• Methyl Methacrylate (MMA)
• Bisphenol A (BPA)
• Solvents

Based on the sales channel, the acetone market has been segmented into –

• Online
• Offline

Acetone Market: Regional Outlook

Based on the region, the global acetone market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2019, Asia Pacific held the largest share in the global acetone market, followed by North America and Europe. Moreover, North-America is expected to grow with high CAGR over the forecast period owing to growing paint and coating and construction industries across the region.

Acetone Market: Key Competitors Includes –

The global acetone market is highly fragmented, with the presence of a large number of small players across the globe. The key companies operating in the global acetone market are

• LyondellBasell Industries
• INEOS Phenol GmbH
• The Dow Chemical Company
• Royal Dutch Shell Co
• Honeywell Chemicals
• Mitsui Chemicals Inc
• SABIC

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