The Middle East & Africa Acetone market demand stood at 230 thousand tonnes in 2023 and is expected to grow at a CAGR of 4.74% during the forecast period until 2033.
Acetone, characterized by its colourless and volatile nature with the chemical formula C3H6O, is a versatile compound widely utilized as a key ingredient in various industries. Majority of the Acetone production is derived as a by-product of Phenol. The synthesis of Acetone involves alkylating benzene with propylene to create cumene, which undergoes an air oxidation reaction to yield phenol and acetone. Due to its miscibility with water, acetone is a significant organic solvent used in industries, households. It finds application across diverse industries, including cosmetics, personal care, paints, coatings, and the automobile industry. Acetone's excellent solvent properties make it a cross-linking agent for bioactive substances in fungicides and insecticides, and it contributes to polyester resin cleaning. Moreover, it plays a role in the polymer industry, contributing to the production of polycarbonates, Bisphenol-A, and epoxy resins.
In the Middle East & Africa region, the acetone market is poised moderate growth, propelled by its usage as a solvent. As a solvent, acetone is valued for its ability to dissolve and effectively mix with a wide range of substances, making it an essential component in processes such as coatings, paints, adhesives, and pharmaceuticals. In the Middle East & Africa, where industrial activities are diverse and expanding, the demand for solvents like acetone is steadily increasing. The use of acetone as a solvent is particularly significant in sectors such as manufacturing, construction, and pharmaceuticals. The construction industry in the United Arab Emirates is poised for a bright future, propelled by governmental programs like the Energy Strategy 2050 and the Sheikh Zayed Housing Program. These initiatives envisage substantial investments in residential, infrastructure, and commercial construction ventures, thereby driving the anticipated demand for paints & coatings which are made using acetone in the upcoming period. Acetone’s moderate growth can be attributed to the essential role it plays in facilitating various industrial processes, driving demand in the region. Additionally, as these industries continue to evolve and expand, the demand for acetone as a solvent is expected to contribute to the moderate growth of the acetone market in the Middle East & Africa region. Thus, Middle East & Africa Acetone market is likely to reach roughly 370 thousand tonnes in 2033.
Based on the end-user industry, the Middle East & Africa 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 about 38% in the year 2023. Moreover, companies in the downstream utilization of Acetone products like BPA and MMA are eyeing to expand their business by several mergers and acquisitions, hence, creating immense scope for the growth of the global Acetone Market in the upcoming years.
Major players in the Middle East & Africa Acetone market are Rabigh Refining and Petrochemical, Saudi Kayan Petrochemical Company and Others. Other global players in the Acetone market are INEOS Group Ltd., Cepsa Corporation, Formosa Chemicals and Fibre Corp, Kumho P&B Chemicals., Inc., Chang Chun Petrochemical Co., Ltd., Advansix, PTT Phenol, Shell Chemicals, Versalis, Zhejiang Petroleum & Chemical Co., Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2033
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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 Middle East & Africa.
• To analyse and forecast the market size of Middle East & Africa Acetone
• To classify and forecast Middle East & Africa Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Middle East & Africa.
To extract data for Middle East & Africa 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 Middle East & Africa Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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, Middle East & Africa 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
230 thousand tonnes
Market size Volume by 2033
370 thousand tonnes
Growth Rate
CAGR of 4.74% from 2024 to 2033
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2033
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2033
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Country, 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
Oman, Egypt, South Africa, Saudi Arabia, Nigeria, Iran, and Rest of MEA
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What was the size of Middle East & Africa Acetone market in terms of volume in 2023?
Ans:
The size of Middle East & Africa Acetone market grew significantly and reached approximately 230 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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