Asia-Pacific Account for 45.2% Global Consumption of Acetone Market by 2020

Asia-Pacific Account for 45.2% Global Consumption of Acetone Market by 2020

Date: 2016-06-29

Acetone is a co-product of phynol, is derived via cumene peroxidation process. Acetone is also known as dimethyl ketone and is clear in colour. The liquid and its vapour is highly flammable, volatile and combustible in nature. It ismainly used as an ingredient in manufacture of acetone cyanohydrin for methyl methacrylate (MMA), bisphenol A (BPA) and aldol chemicals.It is also used as a direct solvent in industrial application. Technical grade acetone is 99% pure and is commonly used chemical with variety of applications in cosmetics, business, home, laboratories etc.

Application | 2015 (Estimate) | 2020 (Forecast) |

Bisphenol-A (BPA) | 28.4% | 31.3% |

Methyl

methacrylate (MMA) | 24.9% | 26.4% |

Solvents | 32.7% | 25.8% |

Other | 14.0% | 16.5% |

Key Finds:

The global output of acetone was estimated to be about 6.10 million tons in 2015, and is expected to reach 7.07 million tons by 2020, growing at a CAGR of 3.01%.

Asia-Pacific accounted for 43.04% of the world consumption of acetone in 2015. With the continuous improvement of people’s incomes and living standards, Asia-Pacific is expected to account for 45.20% of the world consumption of acetone by 2020.

China is a majoy producer and consumer of the acetone, the output of acetone reached 0.73 million tons in 2013, and consumption reached more than 1.00 million tons by 2020, and is expected to grow at a CAGR about 5.20% from 2014 to 2020.

The key players in the acetone market include INEOS Phenol (Switzerland), BASF (Germany), Dow chemical (U.S.), Shell Chemicals (Netherlands), Mitsui Chemicals (Japan), Honeywell (U.S.), LG Chem (Korea) and others. Among them INEOS Phenol is the world’s largest producer of phenol and acetone. The joint venture in China of Mitsui Chemicals and Sinopec has started, the joint venture company is called Shanghai Sinopec Mitsui Elastomers Co Ltd (SSME), and is the world’s...