Market Size of Acetone Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acetone Market Analysis
The acetone market is projected to register a CAGR greater than 3% during the forecast period.
The acetone market is negatively impacted by the COVID-19 pandemic. The global pandemic hindered the major end-user industries of acetone, such as automotive, paints and coatings, cosmetics, and personal care. However, the demand is expected to increase during the forecast period.
- In the medium term, the major factors driving the acetone market are growing usage in the production of personal care and household products, the growing electronics industry in Asia-Pacific, and increasing demand for polycarbonate products.
- On the flip side, increasing production of methyl methacrylate from non-acetone raw materials and increasing regulations by the European Commission on BPA is expected to hinder the market's growth.
- The rising adoption of acetone by dermatologists will offer new growth opportunities to the overall industry growth in the coming years.
- The Asia-Pacific region has dominated the market and is expected to dominate during the forecast period due to the increasing consumption from countries such as China and India.
