Acetone

Acetone Market - Size, Share, Outlook, and Opportunity Analysis,
2018 - 2025
Acetone is a clear, colorless, volatile and flammable organic liquid with a
characteristic odor described as pungent or fruity. It is the simplest and smallest
ketone also called as 2-propanone or dimethyl ketone. It is primarily used as an
industrial solvent and chemical intermediate. Acetone is miscible with water and
serves as an important solvent, which is majorly used for cleaning purposes in
laboratories. Acetone is also found in paints, varnishes, and lacquers and is used as
a solvent for cement in the leather and rubber industries. Acetone is often the
primary component in cleaning agents such as nail polish remover. Acetone is a
component of superglue remover and easily removes residues from glass and
porcelain. Make-up artists use acetone to remove skin adhesive from the netting of
wigs and mustaches by immersing the item in an acetone bath, then removing the
softened glue residue with a stiff brush.
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Acetone is produced directly or indirectly from propene. More than 90% of the
world’s acetone production occurs simultaneously with phenol, hence following the
same trend as phenol. In addition to being manufactured, acetone also occurs
naturally, even being biosynthesized in small amounts in the human body. Acetone
is used as a polar aprotic solvent in a variety of organic reactions, such as SN2
reactions. An important use for acetone is in the production of methyl methacrylate
and bisphenol A. Bisphenol A is used for the production of polycarbonate and epoxy
resins. Polycarbonate resins are widely used in automotive industry for advanced
lighting applications, such as headlamp bezels, headlamp lenses, and light guides.
Market Dynamics
A major driver for growth of the global acetone market is rising demand for acetone
for methyl methacrylate production. Methyl methacrylate is used to produce
polymethyl methacrylate resin, which has a wide application spectrum such as
automotive and transportation, architecture and construction, electronics, and
energy. Methyl methacrylate is also used in the impregnation of concrete to make it
water-repellent. Also, it is used in medicine and dentistry sector to make prosthetic
devices and as a ceramic filler or cement.
However, the emerging trend of using green solvents is a major factor restraining the
growth of the global acetone market. Increasing use of water-based solvents in
paints and coatings and development in bio-based solvents such as renewable
acetone may hamper growth of the global acetone market.
Market Outlook
According to the Coherent Market Insights analysis, Asia Pacific held the dominant
position in the market in 2017. The Asia Pacific is projected to maintain its
dominance throughout the forecast period, owing to growing housing and
infrastructure sectors (hotels, stadium, and restaurants) and paints and coatings
industry. Economical labor rates and easily accessible petrochemical feedstocks are
also supporting lucrative growth of the acetone market in this region.
Among applications, the solvent segment is projected to gain major traction over the
forecast period, owing to its demand from chemical, pharmaceuticals, and cosmetics
industry. It is a common solvent for rinsing laboratory glassware due to its low cost,
volatility, and ability to dissolve water. For similar reasons, acetone is also used as a
drying agent.
Key players in Global Acetone Market
Key players operating in the global acetone market include INEOS Phenol, Royal
Dutch Shell PLC, The Dow Chemical Company, Mitsui Chemicals, Inc., Sasol,
Hindustan Organic Chemicals Limited, Domo Chemicals, Honeywell International,
Inc., Formosa Chemicals and Fiber Corporation, and CEPSA Quimica, Prasol
Chemicals Pvt. Ltd., and EMCO Limited.
Manufacturers are expanding the production capacities as well as introducing the
new plants as a part of a strategic planning. For instance, a Joint venture between
INEOS Phenol and Sinopec Yangzi Petrochemical Company (Sinopec YPC)
announced in September 2013, that the new Joint Venture partners will benefit from
Sinopec’s local feedstock advantages and cumene technology alongside INEOS’
proprietary phenol technology. The annual capacity of the new facility would be at
least 400,000 tons of phenol and 250,000 tons of acetone.
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The research report on Acetone Market is segmented by Application, By End-Use Industry, by Region – Size, Share, Outlook, and Opportunity Analysis, 2018 - 2025

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