The Canada Acetone market demand stood at 28 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.74% during the forecast period until 2034.
Acetone, characterized by its highly versatile solvent properties and volatile nature, plays a pivotal role in various industries. Within the cosmetics and personal care sector, it functions as a crucial component in formulations for nail polish removers and skincare products. Its importance transcends into chemical manufacturing, where it serves as a foundational building block for synthesizing plastics, resins, and pharmaceutical intermediates. Additionally, acetone is integral in the production of diverse plastics and resins, including polycarbonates and epoxy resins. Its effectiveness as a solvent is evident in applications such as cleaning agents designed for the removal of oils, resins, and adhesives. Moreover, acetone stands out as a key raw material in the production of chemicals like Bisphenol A, utilized in plastics production, and Methyl Methacrylate, employed in polymer production.
The surge in the demand for Acetone in Canada is driven significantly by major industries, particularly in paints and coatings, pharmaceuticals, and cosmetics, which exhibit a robust inclination towards Acetone as an exceptional solvent. This notable preference is rooted in the advantageous properties and cost-effectiveness offered by Acetone, positioning it as a favoured choice within these sectors. Moreover, the substantial scale of production in chemical commodities, such as Bisphenol A and Methyl Methacrylate, is a direct consequence of their consistently growing demand. This escalating demand, in turn, plays a pivotal role in the heightened utilization of Acetone as a valuable feedstock. The interplay of these factors underscores the pivotal role that Acetone plays in meeting the needs of diverse industries, serving not only as a solvent but also as a crucial component in the production of key chemical derivatives, thereby contributing to the growth and sustainability of Canada's industrial landscape. Acetone can also find application in pharmaceuticals, food, natural health products, veterinary drugs, cosmetics, and pest control items. There are no domestic producers of acetone in Canada and the total demand of Canada met via imports. Hence, Canada Acetone market is likely to reach roughly 42 thousand tonnes in the year 2034.
Based on the end-user industry, the Canada Acetone market is segmented into Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others. The largest market share of Acetone goes in the Solvent industry which was about 45% in the year 2023.
Significant players in the global Acetone market are Chang Chun Petrochemical Co., Ltd., Advansix, Shell Chemicals, Mitsui Phenols Singapore Pte. Ltd., Formosa Chemicals and Fibre Corp, INEOS Group Ltd., PTT Phenol, Zhejiang Petroleum & Chemical Co., Ltd., Kumho P&B Chemicals., Inc., Cepsa Corporation, Olin Corporation, Versalis, 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 Canada Acetone which covers production, demand and supply of Acetone market in Canada.
• To analyse and forecast the market size of Canada Acetone
• To classify and forecast Canada Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Canada.
To extract data for Canada 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 Canada Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the Canada 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, Canada 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
28 thousand tonnes
Market size Volume by 2034
42 thousand tonnes
Growth Rate
CAGR of 3.74% 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, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
British Columbia, Alberta, Saskatchewan and Manitoba, Quebec, Ontario, and Rest of Canada
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What was the size of Canada Acetone market in terms of volume in 2023?
Ans:
The size of Canada Acetone market has grown significantly in the historic period and reached approximately 28 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Acetone?
Ans:
Solvent industry is the leading consumer of Acetone.
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