The China Acetone market demand stood at 1650 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.87% during the forecast period until 2034.
Acetone, characterized by its volatile properties and chemical formula C3H6O, stands out as a versatile compound widely utilized across various industries. It is obtained as a by-product during the production of Phenol. The manufacturing process involves alkylating benzene with propylene to generate cumene, which, upon air oxidation, yields both phenol and acetone. With remarkable miscibility with water, acetone serves as a crucial organic solvent in industrial settings. Its applications as a solvent across numerous sectors, including cosmetics, personal care, paints & coatings. Acetone's effectiveness as a solvent goes beyond, acting as a cross-linking agent essential for polyester resin cleaning. Furthermore, the polymer industry relies on acetone in the synthesis of polycarbonates, Bisphenol-A, and epoxy resins. Its primary role lies in serving as a precursor for various chemicals, particularly in the production of methyl methacrylate, supporting the continually expanding plastics and resins.
Demand for Acetone in China is poised for significant growth in the forecast period, propelled by its substantial need for producing derivatives essential across various end-use industries. The rapid development of China's industrial sector is expected to contribute to a notable surge in Acetone demand in the upcoming years, driven by the projected increase in its utilization as a preferred and cost-effective solvent. Industries such as cosmetics, adhesives, paints & coatings, chemical, pharmaceuticals, and others, are anticipated to drive the majority of the demand for Acetone, reflecting its versatile applications in these sectors. Notably, Acetone plays a pivotal role in the production of derivatives such as MMA (Methyl Methacrylate) and Bisphenol-A, which are employed in resins and plastics sectors, further fuelling Acetone’s demand in China. Due to these reasons, the China Acetone market size is estimated to reach roughly 2500 thousand tonnes in 2034.
Based on the end-user industry, the China Acetone market is segregated into Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others. The largest share of Acetone goes in the Solvent industry. In 2023, this industry consumed about 43 percent of the total China Acetone market.
Major players in the China Acetone market are Shanghai Sinopec Mitsui Chemicals Co. Ltd., INEOS Group Limited, Cepsa Corporation, Zhejiang Petroleum & Chemical Co., Ltd., and CNOOC Huizhou. Other players in the Global Acetone market are LG Chem Ltd., Advansix, PTT Phenol, Shell Chemicals, Mitsui Phenols Singapore Pte. Ltd., Formosa Chemicals and Fibre Corp, INEOS Group Ltd., Zhejiang Petroleum & Chemical Co., Ltd., Kumho P&B Chemicals., Inc.,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 Acetone which covers production, demand and supply of Acetone market in China.
• To analyse and forecast the market size of Acetone
• To classify and forecast China Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in China.
To extract data for China 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 China Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the China 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, China 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
1650 thousand tonnes
Market size Volume by 2034
2500 thousand tonnes
Growth Rate
CAGR of 3.87% 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, Company Share, Foreign Trade, 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
North China, South China, East China, West China and Rest of China
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of China Acetone market in terms of volume in 2023?
Ans:
The size of China Acetone market has grown significantly in the historic period and reached approximately 1650 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of China Acetone market?
Ans:
Solvent industry is the leading consumer of China Acetone market.
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