South Korea Acetone Market Size, Share, and COVID-19 Impact Analysis, By Grade (Technical), By Application (Solvents, Methyl Methacrylate, and Bisphenol A), By Distribution Channel (Manufacturer to End-user, Manufacturer to Distributor), and South Korea Acetone Market Insights, Industry Trend, Forecasts to 2035

South Korea Acetone Market Insights Forecasts to 2035

• The South Korea Acetone Market Size Was Estimated at USD 433.0 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 7.76% from 2025 to 2035
• The South Korea Acetone Market Size is Expected to Reach USD 985.3 Million by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Acetone Market Size is anticipated to reach USD 985.3 Million by 2035, growing at a CAGR of 7.76%from 2025 to 2035. The market is anticipated to increase during the projected period due to the growing use of acetone in the manufacturing of personal care products as well as the expansion of end-use industries such as paints & coatings and pharmaceuticals in rising economies in the various regions.

Market Overview

The acetone market involves the production and distribution of acetone, a volatile, colourless solvent extensively used in industries such as pharmaceuticals, cosmetics, plastics, and chemicals. It serves as a key ingredient in products like nail polish removers, adhesives, and paints. Its effectiveness as a solvent, rapid evaporation, and compatibility with various substances. Market opportunities are driven by increasing demand in developing economies, expansion of end-use industries, and innovations in bio-based acetone production. Government initiatives supporting chemical recycling, green chemistry, and sustainable manufacturing practices are also encouraging market growth. Environmental regulations and support for cleaner technologies provide incentives for companies to invest in eco-friendly acetone production, further boosting its demand and potential applications across various sectors.

Report Coverage

This research report categorizes the market for South Korea acetone market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea acetone market. Recent market developments and competitive strategies such as expansion, product launch, and 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 South Korea acetone market.

Driving Factors

The acetone market is driven by rising demand from key industries such as pharmaceuticals, cosmetics, and automotive. Its widespread use as a solvent in paints, adhesives, and cleaning agents boosts consumption. Growth in the construction and electronics sectors also fuels demand for acetone-based products. Additionally, increased focus on personal care and hygiene, especially post-pandemic, has expanded its application in sanitizers and disinfectants. Technological advancements and the shift toward bio-based acetone further contribute to market growth.

Restraining Factors

Volatility in raw material prices, particularly propylene and benzene, can lead to unstable production costs, affecting profitability. Stringent environmental regulations concerning emissions and waste disposal require manufacturers to invest in cleaner technologies, increasing operational expenses. Supply chain disruptions, including transportation bottlenecks and geopolitical tensions, can impact the availability and cost of raw materials and finished products.

Market Segmentation

The South Korea Acetone Market share is classified into grade, application, and distribution channel.

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

The South Korea acetone market is segmented by grade into technical. Among these, the technical segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Technical-grade acetone is used in adhesive cement and concrete admixtures, it is anticipated that the growing construction activities will increase demand for it. The demand for acetone in the construction industry is expected to increase during the forecast period as construction operations after the lockdown.

• The solvents segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea acetone market is segmented by application into solvents, methyl methacrylate, and bisphenol A. Among these, the solvents segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Solvent use as an excipient in medications and as a crucial component in the manufacturing of hand sanitizer, acetone has seen an increase in demand. Acetone is used as a solvent by active fillers to guarantee that the right amount of medication is present in each dose.

• The manufacturer-to-end-user segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea acetone market is segmented by distribution channel into manufacturer to end-user and manufacturer to distributor. Among these, the manufacturer-to-end-user segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Large-scale acetone production allows producers to cut out middlemen by supplying it straight to end consumers, such as chemical corporations or manufacturers across a range of industries. Better pricing and faster delivery times are made possible by this direct channel, which also strengthens the bonds between end users and manufacturers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea 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 elaborative analysis focusing on the companies' current news and developments, including 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 Petrochemical Co., Ltd.
• Hanwha TotalEnergies Petrochemical Co., Ltd.
• Lotte Chemical Corporation
• KCC Corporation
• Namhae Chemical Corporation
• Hansuk Chemicals Co., Ltd.
• Korea Engineering Plastics (KEP)
• LG Chem Ltd.
• SK Innovation Co., Ltd.
• Daelim Industrial Co., Ltd.
• Hyundai Chemical Co., Ltd.
• 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 South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea acetone market based on the below-mentioned segments:

South Korea Acetone Market, By Grade

• Technical

South Korea Acetone Market, By Application

• Solvents
• Methyl Methacrylate
• Bisphenol A

South Korea Acetone Market, By Distribution Channel

• Manufacturer to End-user
• Manufacturer to Distributor