Acetone Market To Reach $10.23 Billion By 2030 | CAGR: 8.1%

Acetone Market Growth & Trends

The global acetone market size is expected to reach USD 10.23 billion by 2030, registering a CAGR of 8.1% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly driven by the rising consumption of the product as a cleaning agent and as a solvent in the production of plastics, textiles, cosmetics, and other personal care products.

Acetone, which also goes by the names dimethyl ketone and propanone, is a highly flammable, colorless liquid with the chemical formula (CH3)2CO. It is the smallest and most basic ketone and is frequently used in homes, businesses, and laboratories for cleaning. It is frequently used as a byproduct for the production of phenol. The Wacker process, dry distillation, and the cumene process are a few popular production processes.

Acetone, for active components, is an excellent solvent and serves as a carrier agent in fungicides and insecticides, used in agriculture. Additionally, it is used in personal care products owing to the rising awareness regarding self-care and grooming across the globe. In addition, the product as a cleaning agent or solvent is used to dissolve two-part epoxies, super glue, and polyester resin before they are set in the manufacturing process. It also aids in gel coat and polyester resin cleaning. Casting resin can also be effectively removed from the skin with acetone.

China, the U.S., South Korea, and the Western European region are the main manufacturing hubs for the product. Due to the rapidly growing pharmaceutical and electronics industries, the Asia Pacific region exhibits an enormous growth in demand for the product. It is further predicted to contribute to the largest consumption share during the forecast period. In addition, India is anticipated to increase local production during the upcoming years due to the anti-dumping charges it has placed on imports of acetone from South Korea, Saudi Arabia, and China.

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Acetone Market Report Highlights

• Solvents held a revenue share of over 33.6% in 2024, owing to the increasing utilization of acetone as a solvent in pharmaceutical, paints & coatings, and cosmetics industries.

• The technical grade segment accounted for the largest revenue market share of 97.2%, in 2024 and is expected to continue to dominate the industry over the forecast period.

• The North American region's demand for acetone is primarily driven by its use in solvent manufacturing. The United States is a major hub for automotive manufacturers, producing 9.2 million vehicles in 2022, a 4.0% increase compared to 2021.

Acetone Market Segmentation

Grand View Research has segmented the global acetone market based on grade, application, distribution channel, region:

Acetone Grade Outlook (Volume, Kil0tons; Revenue, USD Million, 2018 - 2030)

• Technical Grade

• Specialty Grade

Acetone Application Outlook (Volume, Kil0tons; Revenue, USD Million, 2018 - 2030)

• Solvents

• Methyl Methacrylate

• Bisphenol A

• Other Applications

Acetone Distribution Channel Outlook (Volume, Kil0tons; Revenue, USD Million, 2018 - 2030)

• Manufacturer to Distributor

• Manufacturer to End User

Acetone Regional Outlook (Volume, Kil0tons; 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

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Acetone Market

• INEOS

• Shell plc

• Honeywell International Inc

• Mitsui Chemicals, Inc.

• CEPSA Quimica, S.A.

• SABIC

• Arkema

• Solvay

• DOMO Chemicals

• Kumho P&B Chemicals