Acetone Price Trend

Acetone Prices December 2023

Acetone prices in the USA reached a record high of US$ 1467/MT in Q4 2023, driven by a mix of supply constraints, soaring demands, particularly from the bisphenol-A (BPA) business, and rising costs linked with upstream benzene. The industry was further bolstered by deliberate market responses to OPEC's supply changes, resulting in a tightly supplied market with no plant shutdowns.

On the other hand, Japan witnessed a bearish acetone market, with prices falling to US$ 765/MT, due to plummeting demand and competitive import prices. In addition to this, the market was also influenced by anticipatory market reaction to the Bank of Japan's (BOJ) changing monetary policy in response to prevailing inflation, resulting in possible recalibrations in market expectations.

In Belgium, the acetone prices rose to US$ 1129/MT, spurred by limited availability and escalating energy costs, propelled by stable but moderate demand from various sectors. The European landscape, as highlighted by Belgium's scenario, was further exacerbated by geopolitical factors affecting the Red Sea, which intensified the market's supply strain.

Acetone Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Acetone Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of acetone pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of acetone at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of acetone price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing acetone price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Acetone Market Analysis

The global acetone market size reached US$ 7.2 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 11.7 Billion, at a projected CAGR of 5.40% during 2023-2032.

• The burgeoning growth of the construction industry, spurring the demand for acetone for various applications such as adhesives, sealants, and coatings, is driving the market.
• Expanding applications across the thriving automotive sector in the production of automotive coatings and adhesives is acting as another significant growth-inducing factor.
• Acetone is widely used as a key raw material in the production of plastics like polycarbonates and acrylics. As a result, the growing demand for plastics in packaging, automotive, and electronics industries, thus impelling the market growth.
• The soaring demand for composite materials like carbon fiber from the aerospace and construction sectors is aiding in market expansion as acetone is used as a solvent in the manufacture of these materials.
• The booming electronics industry, wherein acetone is employed for cleaning electronic components and in the production of specialty plastics used in electronic devices, is contributing to market growth.
• The growing use of acetone as a solvent in paint and coating formulations is providing an impetus to market growth.
• Besides this, ongoing advancements in the healthcare sector are strengthening the market growth as acetone is used in pharmaceutical manufacturing processes and in medical devices, with advancements in healthcare leading to increased demand for these products.
• The flourishing expansion of adhesives and sealants market, with acetone employed as a common ingredient in adhesives and sealants used across construction and automotive industries is fostering market expansion.
• The sudden shift towards bio-based acetone production due to escalating environmental concerns and government regulations are creating a promising outlook for market growth.
• Furthermore, inflating disposable income of individuals leading to increased spending on consumer goods, including items that utilize acetone-based products, such as cosmetics and personal care products is fueling market expansion.
• The thriving packaging industry, which relies on acetone for manufacturing various types of packaging materials, and the increasing demand for packaged goods globally are influencing market growth.
• Rising urbanization rates, increased construction activities and infrastructure development, spurring the demand for acetone in construction-related applications are further contributing to the market expansion.
• Apart from this, favorable government initiatives and regulations promoting renewable energy sources and sustainable production practices boosting the demand for bio-based acetone, thereby propelling the market forward.

Acetone News

The report covers the latest developments, updates, and trends impacting the global acetone market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in acetone production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the acetone price trend.

Latest developments in the acetone industry:

• In December 2023, Mitsui Chemicals, Inc. announced that it has received certification for two more phenol-chain products under the International Sustainability and Carbon Certification (ISCC) PLUS system for certifying sustainable products.
• In September 2023, INEOS Group Ltd, acquired the production site and assets of Mitsui Phenols Singapore Pte. Ltd. on Jurong Island, Singapore. The acquisition cost USD 330 million and increased INEOS’s total production capacity of acetone to 185 thousand tonnes per year.

Product Description

Acetone is a colorless and volatile liquid chemical with a unique sweet odor. It is among the simplest and most used organic solvents. This compound is a ketone that has the formula (CH3)2CO. Acetone is composed of 3 carbon atoms, 6 hydrogen atoms, and 1 oxygen atom.

Acetone is a highly adaptable solvent that is used in a range of industries, such as in the manufacturing of plastics, fibers, and medicinal products. It serves as a crucial intermediate in chemical synthesis, taking part in a variety of chemical reactions like in the synthesis of methyl methacrylate which acts as a precursor to acrylic ploymers, and BPA, which is used to create polycarbonate plastics.

Aside from that, it is also employed as a vital component in nail polish removers and paint thinners because of its ability to break down compounds like varnishes and resins. Additionally, acetone is also used in labs to clean glassware and equipment since it effectively removes oil and other organic impurities.

Regional Coverage

The report provides a detailed analysis of the acetone market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the acetone price trend.

Global Acetone Price

The report offers a holistic view of the global acetone pricing trends in the form of acetone price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of acetone but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed acetone demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Acetone Price

The European acetone market witnessed price increases due to moderate demand influenced by the reducing needs in bisphenol, personal care, and disinfectant sectors. Stable prices prevailed in the Netherlands and Germany with sufficient stockpile availability, contrasting Belgium's price hike due to limited inventory. Moreover, the market witnessed a lower production rates and subdued demand towards quarter end, coupled with rising energy costs, impacted overall prices.

This analysis can be extended to include detailed acetone price information for a comprehensive list of countries.

North America Acetone Price

North America's acetone market saw significant price surges due to tight supply constraints from limited domestic spot market volumes and declining production rates, leading to inventory buildup. Despite limited procurement activities, prices were challenged, resulting in a domestic market premium. The United States experienced the most impact, with prices following a bullish trend supported by robust upstream Benzene costs and high demand from downstream derivatives like BPA.

Specific acetone historical data within the United States and Canada can also be provided.

Middle East and Africa Acetone Price

The analysis of acetone prices in Middle east and Africa provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

In addition to region-wise data, information on acetone prices for countries can also be provided.

Asia Pacific Acetone Price

The Asia Pacific acetone market faced a bearish trend due to decreased demand from downstream industries, lowered import prices, and limited inquiries from importing countries. Production rates decreased towards the fourth quarter, leading to a decline in prices. Japan, in particular saw significant price changes with FOB Osaka prices. Furthermore, the latest acetone FOB-Osaka price settled at USD 770/MT, with conservative demand from downstream sector favoring buyers with advantageous offers.

This acetone price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Acetone Price

The analysis of acetone prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of acetone pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting acetone price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The acetone price charts ensure our clients remain at the forefront of the industry.