Acetone Market Is Anticipated To Register Around 5.45% CAGR From 2022-2030

The Acetone Market is predicted to reach 11.64 million tons with a healthy CAGR of 5.45% during the forecast 2021-2030.

Acetone finds its application in the cosmetics industry as the primary component in nail polish remover; skin cream products contain acetone as a solvent. It’s also used for skin pealing treatment to combat acne. An increase in demand for acetone in the said- mentioned products is expected to boost market growth in the coming times.

Regional Analysis

Asia Pacific dominated the market with the loftiest profit share of 46.8% in 2021. The advanced market share is attributed to the rise in demand for the product by various end- user industries similar to medicinal, particular care & cosmetics and automotive from countries like China, India, and Japan. China is the major consumer of acetone and is expected to contribute towards increased product consumption owing to a rise in the medicinal, and electronics sectors within the country.

On the other hand, Europe is expected to expand at a CAGR of 7.8 during the forecast period. Product demand is due to the rise in consumer spending on skincare, lifestyle, and cosmetics products within the region. Rising awareness about skin and beauty care among the population within the region is expected to boost demand for the product in Europe. Also, a rise in demand for paints & coatings is expected to impact demand for the product in the region owing to the rise in construction activities.

Demand for the product in the North America region is substantially driven by the use of the product in solvent manufacturing. The U.S. is a hub for major automotive manufacturers. U.S. auto plants manufactured 6.3 million passenger cars in 2022, which was over by 3.1% as compared to 2021. Future growth in the machine sector is expected to boost demand for the acetone request. Also, the rise in demand for personal care, skin treatment, and beauty products are expected to drive product demand in countries similar as Canada and the U.S.

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Market Segmentation

Acetone market is segmented on the base of operation, distribution channel, grade outlook and end use. The growth amongst these parts will help you analyze meager growth segments in the industries, and give the druggies with precious market overview and market insights to help them in making strategic opinions for identification of core market applications.

Based on application, the acetone market is segmented into methyl methacrylate( MMA), bisphenol A( BPA) and detergents.

Based on distribution channel, the acetone market is segmented into manufacturer to distributor and manufacturer to end- stoner.

Based on grade outlook, the acetone market is segmented into specialty grade and specialized grade.

Acetone market has also been segmented based on end use, into cosmetics and particular care, electronics, construction, automotive, pharmaceutical, agricultural chemicals, paints & coatings and adhesives.

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Key Players

The major players covered in the acetone market report are Cepsa, KUMHO P&B CHEMICALS.,INC., SABIC, LyondellBasell Industries HoldingsB.V., INEOS, Dow, Shell InternationalB.V., Honeywell InternationalInc., Mitsui ChemicalsInc., EMCO Chemical Distributors,Inc., Prasol ChemicalsPvt.Ltd., Formosa Chemicals & FiberCorp., Altivia, Borealis AG, Hindustan Organic Chemicals Limited, Domo Chemicals,U.S. Chemical & Plastics., Sunmarks,LLC., The Plaza Group, Versalis SpA among other domestic and global players

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