The Business Research Company’s Acetone Market is Forecasted to Reach a Value of US $6.33 Billion by 2029
It will grow to $6.33 billion in 2029 at a compound annual growth rate (CAGR) of 3.8%.”
What Is The Expected Cagr For The Acetone Market Through 2025?
The size of the acetone market has been showing steady growth in the past few years. The prediction is that it will rise from $5.32 billion in 2024 to $5.46 billion in 2025, representing a compound annual growth rate (CAGR) of 2.5%. The historic development in the market can be traced back to the increased demand in the chemical manufacturing industry, solvent and paint industry, plastics and resin production, pharmaceuticals and cosmetics, alongside the growth in the chemical and petrochemical industries.
In the upcoming years, the acetone market is projected to consistently grow, reaching a value of $6.33 billion in 2029 with a 3.8% CAGR. This surge during the forecast period is due to an increase in its usage in solvents and coatings, higher demands from the plastics and resins industry, an uptick in pharmaceutical and cosmetic applications, and broader usage in industrial cleaning products, alongside global economic growth. Prevailing trends during this period include shifting consumer preferences and industry adoption, market internationalization and economic aspects, growing demand for industrial cleaning agents, movement towards eco-friendly chemistry, and environmental and regulatory concerns.
