According to the research report titled ‘Acetone Market Share, Size, Trends, Industry Analysis Report, By Grade; By End-User; By Application; By Regions - Segment Forecast, 2020 – 2026’, available with Market Study Report, global acetone market is predicted to reach a valuation of USD 6.19 billion by the year 2026.
 

Surging disposable income coupled with increasing awareness pertaining to benefits of personal care are few of the key factors driving the growth of global acetone market.
 

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It is to be noted that acetone can be used as a non-toxic and organic alternative for containing oil spills by dissolving and eliminating sludge from the surface of the marine plants or water. Widespread adoption of the product in construction, automotive and pharmaceutical sectors along with escalating investments by major corporations in this business sphere is further fueling the market size.
 

As per grade type, the market is segmented into technical grade acetone and specialty grade acetone. The end-user scope of worldwide acetone market consists of agriculture, pharmaceutical, paints & coatings, cosmetics & personal use, automotive, construction and others.
 

Based on application spectrum, the market is bifurcated into methyl isobutyl ketone, solvents, methyl methacrylate (MMA), bisphenol A and others. Global acetone market share from solvent applications is expected to record remunerative growth in the subsequent years.
 

Acetone is widely used in various personal care products such as hair dyes, fragrances, cosmetic creams and other cosmetics. Apart from this, rising cognizance regarding maintaining hygiene and wellness among young population in consort with booming e-commerce sector are favoring global acetone market outlook from solvent application segment.
 

From the regional point of view, Asia-Pacific accounted for a significant market share in the year 2019 and is estimated to display similar growth trends in the ensuing years. Growing population, rising adoption of personal care products and rising per capita income are prime factors facilitating the business scenario in Asia-Pacific.
 

Besides, various leading companies are focusing on expanding their manufacturing units in the region owing to easy availability of low cost labor and essential infrastructure. Rapid industrialization, flourishing pharmaceutical and automotive sector, and widespread applications of the product in construction and agriculture industry verticals are augmenting Asia-Pacific acetone market remuneration.
 

DOMO Chemicals GmbH, LyondellBasell Industries Inc., Mitsui Chemicals Inc., Reliance Industries Ltd., Altivia, Borealis AG, Prasol Chemicals Pvt. Ltd., Green Biologics Ltd., BASF SE, Honeywell International Inc., INEOS Phenol, Formosa Chemicals & Fiber Corp., Royal Dutch Shell plc and Hindustan Organic Chemicals Ltd. are the major contenders in global acetone market.