The Thailand Acetone market demand stood at nearly 95 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.4% during the forecast period until 2034.
Acetone, known for its transparent and volatile attributes with the chemical formula C3H6O, is a versatile compound extensively utilized as a vital element in various industries. The majority of Acetone is produced as a by-product of Phenol. The synthesis process involves alkylating benzene with propylene to generate cumene, and through an air oxidation reaction, it yields both phenol and acetone. With its ability to seamlessly mix with water, acetone serves as a significant organic solvent employed in industrial and household settings. Its applications span diverse sectors, including cosmetics, personal care, and the paints and coatings industry. Acetone's exceptional solvent properties make it a cross-linking agent for bioactive substances in fungicides and insecticides, contributing to the cleaning of polyester resin. Additionally, it plays a pivotal role in the polymer industry, contributing to the production of polycarbonates, Bisphenol-A, and epoxy resins.
The Acetone market in Thailand is witnessing robust growth, driven by its diverse applications across several key end-use sectors. Specifically, the production of MMA and Bisphenol A relies heavily on Acetone, as these compounds are fundamental for the manufacturing of a diverse range of end-use products across various industries. In pharmaceuticals, adhesives, cosmetics, and paints and coatings, Acetone is a crucial solvent. Moreover, the increasing demand for Acetone in specialized pharmaceutical applications aligns with the rapid expansion of the Asian pharmaceutical industry. As pharmaceuticals continue to be a significant driver of Acetone utilization, the compound's importance is expected to surge in the coming years. The chemical landscape in Thailand is evolving, and Acetone stands at the forefront of this transformation, meeting the requirements of various industries and contributing to the development of end-use products. The strategic significance of Acetone in the chemical supply chain highlights its position as a key raw material, fostering innovation and growth. The projected trajectory suggests that the demand for Acetone in Thailand will continue to be robust, reflecting its essential role in supporting the dynamic needs of diverse industries in the region. Due to these reasons, the Thailand Acetone market size is estimated to reach roughly 138 thousand tonnes in 2034.
Based on the end-user industry, the Thailand Acetone market is segregated into Solvent, MMA (Methyl Methacrylate), Bisphenol A, and Others. The largest market share of Acetone goes towards Solvent which ranged about 48% in the year 2023.
Significant player in the Thailand Acetone market is PTT Phenol Company Limited. Major players in the production of Global Acetone 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: 2025-2034
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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 Thailand.
• To analyse and forecast the market size of Thailand Acetone
• To classify and forecast Thailand Acetone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetone market in Thailand.
To extract data for Thailand 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 Thailand Acetone market over the coming years.
ChemAnalyst calculated Acetone demand across the Thailand 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, Thailand 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
95 thousand tonnes
Market size Volume by 2034
138 thousand tonnes
Growth Rate
CAGR of 3.4% 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 (Myanmar), Central (Bangkok), Northeast (Isan), and South (Gulf of Thailand)
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What was the size of Thailand Acetone market in terms of volume in 2023?
Ans:
The size of Thailand Acetone market has grown significantly in the historic period and reached approximately 95 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 3.4% in the forecast period.
Q2.
Which industry is leading as the leading consumer of Thailand Acetone market?
Ans:
Solvent industry is the leading consumer of Thailand Acetone market.
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