Asia Pacific Acetone Market Size, Share, and COVID-19 Impact Analysis, By Grade (Technical Grade, Speciality Grade), By Application (Bisphenol A, Solvents, Methyl Methacrylate and Others), and Asia Pacific Acetone Market Insights, Industry Trends, Forecast to 2035.

Asia Pacific Acetone Market Size Insights Forecasts to 2035

• The Asia Pacific Acetone Market Size Was Estimated at USD 3.05 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of Around 8.64% from 2025 to 2035
• The Asia Pacific Acetone Market Size is Expected to Reach USD 7.59 Billion by 2035

According to a research report published by Spherical Insights & Consulting, The Asia Pacific Acetone Market Size is Anticipated to Reach USD 7.59 Billion by 2035, Growing at a CAGR of 8.64% from 2025 to 2035. The market is driven by increasing use of acetone in the production of personal care products, along with the growth of end-use industries such as paints and coatings and pharmaceuticals in emerging economies in the Asia Pacific region.

Market Overview

The Asia Pacific Acetone Market has experienced substantial growth during the past few years because various industries such as pharmaceuticals, cosmetics, paints, adhesives and plastics have increased their acetone requirements. Acetone functions as a multifunctional solvent that plays a crucial role in the industrial production of methyl methacrylate and bisphenol A through its use as a primary component.

In January 2025, Taiwan Mitsui Chemicals, Inc, which operates as a completely owned subsidiary of Mitsui Chemicals, Inc. Reached an agreement with Nan Ya Plastics Corp. to start developing bio-based plastic products for their market operations. The NPC organization will buy biomass acetone from Mitsui Chemicals which they will use to produce biomass-based bisphenol A (BPA) at their Taiwanese facility.

Deepak Chem Tech Ltd (DCTL) which operates in India, intends to establish a manufacturing complex in April 2025 which will produce phenol, acetone and isopropyl alcohol (IPA) through an investment of Indian rupees 35 billion which equals 407 million US dollars. Haldia Petrochemicals to invest Rs. 3,000 crore for setting up propylene, phenol and acetone plants. Acetone is a key solvent used in the production of various chemicals, including Bisphenol A, which further drives its market demand. The market benefits from industrialization growth and chemical manufacturing facility expansion which occurs throughout the world.

Report Coverage

This research report categorises the Asia Pacific Acetone Market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Asia Pacific acetone market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Asia Pacific acetone market.

Driving Factors

The acetone market in Asia Pacific is driven by the increasing environmental regulations, with consumer demand for green chemistry solutions have created a need for bio-based acetone that uses renewable resources like waste glycerol. The pharmaceutical industry requires high-purity acetone for two main applications, which include Active Pharmaceutical Ingredient (API) synthesis and use as a solvent in nail care and skincare products. India drives pharmaceutical-grade demand at a particularly strong level.

Restraining Factors

The acetone market in the Asia Pacific is restrained by the highly flammable nature of the substance needs special safety measures that must be followed during its storage and handling process. The increasing popularity of environmentally friendly bio-based alternatives which include ethyl acetate, isopropyl alcohol and water-based solvents, will decrease the demand for traditional acetone in sustainability-focused industries such as paints and coatings.

Market Segmentation

The Asia Pacific acetone market share is categorised into grade and application.

• The technical grade segment accounted for the largest share in 2024 and is expected to grow at a significant CAGR during the forecast period.  

The Asia Pacific Acetone Market is segmented by grade into technical grade, speciality grade. Among these, the technical grade segment accounted for the largest share in 2024 and is expected to grow at a significant CAGR during the forecast period. The segmental growth is driven by the widespread availability of these technical-grade products at lower costs, which leads to their increased market presence. Technical-grade materials find their main applications in lacquers and adhesives, floor polishing products and various other uses.

• The solvents segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.   

Based on application, the Asia Pacific Acetone Market is segmented into bisphenol A, solvents, methyl methacrylate and others. Among these, the solvents segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is driven by their extensive use in industries like paints, adhesives, and coatings. The solvent capabilities of acetone, with its ability to dissolve organic materials, make it a preferred solvent used by various industries. The rising need for acetone-based industrial cleaning solutions drives the expansion of this market segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Asia Pacific Acetone Market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Kumho P&B Chemicals, Inc.
• Formosa Chemicals & Fibre Corporation
• SINOPEC Shanghai Petrochemical Co., Ltd.
• LG Chem Ltd.
• Mitsui Chemicals, Inc.
• Mitsubishi Chemical Corporation
• Shell plc
• Chang Chun Group
• Sinopec
• Deepak Phenolics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the Asia Pacific, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Asia Pacific Acetone Market based on the below-mentioned segments:

Asia Pacific Acetone Market, By Grade

• Technical Grade
• Speciality Grade

Asia Pacific Acetone Market, By Application

• Bisphenol A
• Solvents
• Methyl Methacrylate
• Others