The Belgium Acetone market demand stood at 270 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.22% during the forecast period until 2034.
Acetone, characterized by its highly adaptable solvent properties and volatile nature, holds a multifaceted role in diverse industries. In the realm of cosmetics and personal care, it functions as a crucial component in formulations for nail polish removers and skincare products. It is used in producing paints & coatings which are further used in automotive painting and surface treatment. Its importance further extends to the realm of chemical manufacturing, serving as an elemental building block for the synthesis of plastics, resins, and pharmaceutical intermediates. Within the pharmaceutical industry, acetone is instrumental in specific processes, emphasizing its versatility in the production of pharmaceutical products. Additionally, it proves indispensable in the production of various plastics and resins, including polycarbonates and epoxy resins. As an efficient solvent, acetone finds wide-ranging applications in cleaning agents designed to remove oils, resins, and adhesives. Moreover, acetone stands out as a key raw material in the synthesis of essential chemicals like Bisphenol A (utilized in plastics), Methyl Methacrylate (employed in polymer production), and Isopropyl Alcohol.
The demand for Acetone in Belgium is significantly driven by its widespread use as a superior solvent, particularly in the pharmaceuticals and paints and coatings sectors. In pharmaceutical processes, Acetone's effectiveness as an ideal solvent plays a crucial role in product formulation, while in the paints and coatings industry, it contributes to achieving desired coating properties. Additionally, the consistent rise in demand for Acetone is propelled by the increasing consumption of its derivatives, such as Methyl Methacrylate and Bisphenol A, which find applications across diverse industrial sectors. The versatility of Acetone as a raw material for these derivatives positions it as a key player in various industrial processes, supporting market growth in response to evolving needs in pharmaceuticals, coatings, and related industries in Belgium. Thus, Belgium Acetone market is likely to reach roughly 390 thousand tonnes in 2034.
Based on the end-user industry, the Belgium Acetone market is segmented into Solvent, MMA (Methyl Methacrylate ), Bisphenol A, and Others. The largest market share of Acetone goes with high proportion in Solvent, which ranged about 45% in the year 2023.
Major player in the Belgium Acetone market is INEOS Phenol. Other players in global Acetone market are INEOS Group Ltd., Cepsa Corporation, Versalis, Formosa Chemicals and Fibre Corp, Kumho P&B Chemicals., Inc., Olin Corporation, Advansix, PTT Phenol, Shell Chemicals, Chang Chun Petrochemical Co., Ltd., Zhejiang Petroleum & Chemical Co., Ltd., Mitsui Phenols Singapore Pte. Ltd., LG Chem Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Belgium Acetone which covers production, demand and supply of Acetone market in Belgium.
• To analyse and forecast the market size of Belgium Acetone
• To classify and forecast Belgium Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Belgium.
To extract data for Belgium Acetone market, primary research surveys were conducted with Acetone manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Belgium Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the Belgium region by analysing the volume of Acetone consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acetone manufacturers and other stakeholders
• Organizations, forums and alliances related to Acetone distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acetone manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Belgium Acetone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
270 thousand tonnes
Market size Volume by 2034
390 thousand tonnes
Growth Rate
CAGR of 3.22% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
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What was the size of Belgium Acetone market in terms of volume in 2023?
Ans:
The size of Belgium Acetone market has grown significantly in the historic period and reached approximately 270 thousand tonnes in 2023.
Q2.
Which industries are the leading consumer of Acetone in Belgium?
Ans:
Solvent, MMA (Methyl Methacrylate ), Bisphenol A, are the leading consumers of Acetone.
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