The Italy Acetone market demand stood at roughly 180 thousand tonnes in 2023 and is expected to grow at a CAGR of 4.12% during the forecast period until 2034.
Acetone, characterized by its colourless and volatile nature with the chemical formula C3H6O, stands as a versatile compound extensively utilized across various industries. Over 95 percent of the global acetone production arises as a by-product of Phenol. The synthesis involves alkylating benzene with propylene to yield cumene, which undergoes an air oxidation reaction to yield both phenol and acetone. Notably miscible with water, acetone serves as a significant organic solvent in industrial, household, and laboratory settings. Its applications across diverse industries, including cosmetics, personal care, paints, coatings, and the automobile industry. Acetone's excellence as a solvent extends to its role as a cross-linking agent for bioactive substances in fungicides and insecticides, contributing to polyester resin cleaning. Moreover, the polymer industry employs acetone in the production of polycarbonates, Bisphenol-A, and epoxy resins.
The factors influencing the Acetone market in Italy are predominantly influenced by various end-use sectors. The demand for acetone in Italy is underpinned by a consistent increase in investments aimed at manufacturing its high-value derivatives, including Methyl Methacrylate (MMA) and Bisphenol-A. These derivatives have witnessed a sustained rise in demand, contributing significantly to the expanding utilization of acetone. The strategic investments in the production of these key derivatives highlight the essential role acetone plays as a precursor in the synthesis of various valuable chemical compounds. Furthermore, the growing demand for acetone in Italy can be attributed to its prominence as a quality solvent, boasting ideal properties and a reliable cost structure. As a solvent, acetone finds applications across diverse industries, including cosmetics, pharmaceuticals, paints, coatings, and chemicals. Its versatility and effectiveness make it a preferred choice, enhancing its appeal over other available substitutes in the market. The forecasted growth in acetone demand aligns with the dynamic landscape of the Italian chemical industry, where the strategic production of high-value derivatives and the versatile use of acetone as a solvent contribute to its increasing importance. This trajectory underscores acetone's integral role in meeting the evolving needs of various industrial sectors and reflects the market's recognition of its indispensable value. Owing to these reasons, Italy Acetone market is likely to reach roughly 281 thousand tonnes in 2034.
Based on the end-user industry, the Italy Acetone market is segmented into Solvent, MMA (Methyl Methacrylate ), Bisphenol A, and Others. As of 2023, the Solvent Industry dominates Acetone consumption, holding a significant market share of 42%.
Major player in the Italy Acetone market is Versalis. Other players in the global Acetone market are INEOS Group Ltd., Cepsa Corporation, Kumho P&B Chemicals., Inc., Chang Chun Petrochemical Co., Ltd., Advansix, Formosa Chemicals and Fibre Corp, PTT Phenol, Shell Chemicals, Versalis, Zhejiang Petroleum & Chemical Co., Ltd., Mitsui Phenols Singapore Pte. Ltd., LG Chem Ltd., Olin Corporation, 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 Italy Acetone which covers production, demand and supply of Acetone market in Italy.
• To analyse and forecast the market size of Italy Acetone
• To classify and forecast Italy Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Italy.
To extract data for Italy 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 Italy Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the Italy 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, Italy 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
180 thousand tonnes
Market size Volume by 2034
281 thousand tonnes
Growth Rate
CAGR of 4.12% 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.
Segments covered
By End-Use: (Solvent, MMA (Methyl Methacrylate ), Bisphenol A, and Others)
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What was the size of Italy Acetone market in terms of volume in 2023?
Ans:
What was the size of Italy Acetone market in terms of volume 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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