GVR Report cover Acetone Market Size, Share & Trends Report

Acetone Market Size, Share & Trends Analysis Report By Application (Solvents, Bisphenol A, Methyl Methacrylate), By Grade (Technical, Specialty, Specialty Grade), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-857-2
  • Number of Report Pages: 82
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Bulk Chemicals

Report Overview

The global acetone market size was valued at USD 5.69 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. The rising utilization of acetone in the production of personal care products and growing end-use industries including paints & coatings and pharmaceutical industries in the emerging economies of Asia Pacific is expected to drive the market over the forecast period. One of the most common and significant aliphatic ketones is acetone, sometimes referred to as 2-propanone or dimethyl ketone. It is made by the alkylation of benzene with propylene to make cumene, which is then subjected to an air oxidation reaction to provide phenol and acetone. Typically, phenol is integrated into acetone facilities. The substance is widely utilized in the production of Methyl Methacrylate (MMA), and Bisphenol-A (BPA), as well as solvents for oils, rubber, resins, lacquers, rubber, cement, fats, and waxes.

U.S. acetone market size, by application, 2020 - 2030 (USD Billion)

The product is utilized in the manufacturing of bisphenol A (BPA). BPA is further used in producing polycarbonate for various automotive industry applications such as manufacturing sunroofs, windows, taillights, and glasses. The rise in demand for polycarbonates is expected to drive BPA production, bringing further benefits such as economies of scale to the product, and generating further growth for the market.

The industrial sector makes extensive use of acetone in various applications like paints & coatings, adhesives, disinfectants, and thinners. Additionally, the product is used as a solvent in pharmaceutical applications to produce hand sanitizers and as an excipient in drugs. It is majorly utilized as a solvent for resins, plastics, lacquers, varnishes, oils, fats, waxes, and rubber cement. The product finds its application as an intermediate polymethyl methacrylate (PMMA) in the industrial sector.

Acetone finds its application in the cosmetics industry as the primary ingredient in nail polish remover. Furthermore, skin cream products contain acetone as a solvent. It is also used for skin pealing treatment to combat acne. An increase in demand for acetone in the above-mentioned products is expected to boost market growth in the coming years.

At the beginning of the Covid-19 pandemic, there was an enormous demand for acetone due to the surge in demand for hand sanitizer using the derivative isopropyl alcohol (IPA) as a key feedstock, which is manufactured by acetone. However, the short-term fall in the sales of cosmetics & personal care, automotive, and paints & coatings industries affected the demand for acetone negatively. It led to a partial or complete shutdown of construction activities in various countries, which impacted the demand for acetone from the paints and coatings sector.

Application Insights

Solvents application dominated the market with a revenue share of 33.5% in 2022. This is attributed to the rise in demand for acetone as a key ingredient in manufacturing hand sanitizer and as an excipient in drugs. Active filters use acetone as a solvent to deliver the correct amount of medication in each dose. Isopropyl alcohol (IPA) is utilized in the manufacturing of hand sanitizer. This is expected to boost demand for acetone as raw material in producing IPA.

Most bisphenol A (BPA) applications are in the chemical and industrial segment. For several polymer materials, including polyurethanes, polycarbonates, polysulfone, and epoxy; acetone serves as a key ingredient. The production of consumer products including sports equipment, food storage containers, polycarbonate bottles, and other items, which require various polymers, is expected to increase demand for the bisphenol-A product.

Methyl methacrylate is expected to witness a CAGR of 7.9% during the forecast period owing to its use in the automotive industry for producing various car parts. Acetone is used as key raw material in manufacturing methyl methacrylate which is further used for exterior car coatings, auto glazing, and to manufacture car parts such as headlamps, bullet-proof glass, windows, taillights, and sunroofs.

Grade Insights

The technical grade dominated the market with the highest revenue of 97.2% in 2022. This is attributed to the rise in the consumption of technical products in the manufacturing of MMA and BPA. The low-cost availability of technical-grade products is attributed to its higher market share. Technical grade is majorly used in lacquers, adhesives, and floor polishing along with others.

The rising construction activities are anticipated to boost the product demand owing to its usage in adhesive cement, and concrete admixtures. Rising construction activities post-lockdown across the world are anticipated to fuel the demand for technical-grade acetone in the construction sector over the forecast period.

The specialty grade segment is expected to grow with a CAGR of 8.7% from 2023 to 2030 owing to its characteristics like low benzene and water content. Due to its binding qualities, MMA made from specialty-grade acetone is becoming increasingly popular in the construction sector. It is mostly utilized in floor polishes, lacquers, adhesive cement, and concrete admixtures.

Global Acetone market share, by grade, 2022 (%)

Demand for MMA resins is expected to increase during the near future as a result of the recent recovery of the construction industry across major nations, particularly in emerging economies, as a result of the significant government investments in public infrastructure and residential constructions like housing.

Regional Insights

Asia Pacific dominated the market with the highest revenue share of 46.7% in 2022. The higher market share is attributed to the rise in demand for the product by various end-user industries such as pharmaceuticals, personal care & cosmetics, and automotive from various countries including 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 pharmaceutical, and electronics sectors within the country.

Acetone Market Trends, by Region, 2023 - 2030

Europe is expected to expand at a CAGR of 8.0% 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.

Demand for the product in the North America region is mainly driven by its usage in solvent manufacturing. The U.S. is a hub for major automotive manufacturers. The country manufactured 9.2 million vehicles in 2022, which was up by 4.0% as compared to 2021. This is expected to boost the demand for acetone in the automotive industry in the country. Additionally, the rise in demand for personal care, skin treatment, and beauty products is expected to drive product demand in countries such as Canada, and the U.S.

Key Companies & Market Share Insights

Companies dominate the global market for acetone with their continuous involvement in acquisitions, manufacturing capacity expansions, and partnerships. The top players are boosting their production capacities to keep up with the rising demand for acetone from the end-user industries. In addition, companies are focusing on extensive research & development activities, meant for developing advanced technology, used for the production of higher-quality products. Some prominent players in the global acetone market include:


  • Shell Plc

  • Honeywell International Inc

  • Mitsui Chemicals, Inc.

  • CEPSA Quimica, S.A.


  • Arkema

  • Solvay

  • DOMO Chemicals

  • Kumho P&B Chemicals

Acetone Market Report Scope

Report Attribute


Market size value in 2023

USD 6.02 billion

Revenue forecast in 2030

USD 10.23 billion

Growth Rate

CAGR of 7.6% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Volume in kilotons, revenue in USD million, CAGR from 2023 to 2030

Report coverage

Volume & revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, grade, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; Belgium; France; CIS Nations; China; Japan; India; South Korea; Taiwan; Brazil; Argentina; South Africa; Saudi Arabia

Key companies profiled

INEOS; Shell Plc; Honeywell International Inc; Mitsui Chemicals, Inc.; CEPSA Quimica, S.A.; SABIC; Arkema; Solvay; DOMO Chemicals; Kumho P&B Chemicals

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Acetone Market Report Segmentation

This report forecasts volume & revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global acetone market report based on application, grade, and region:

Global Acetone Market Report Segmentation

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Solvents

    • Methyl Methacrylate

    • Bisphenol A

    • Others

  • Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Technical Grade

    • Specialty Grade

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Belgium

      • CIS Nations

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Taiwan

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.