Global Acetone Market 2024

Acetone Market Size

The global acetone market surged to $X in 2021, increasing by 19% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Acetone Production

In value terms, acetone production surged to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. Over the period under review, global production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Acetone Exports

Exports

After two years of decline, shipments abroad of acetone increased by 7.4% to X tons in 2021. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 22% against the previous year. Over the period under review, the global exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, acetone exports surged to $X in 2021. Overall, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +62.1% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by 54% against the previous year. The global exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from Spain (X tons), Belgium (X tons), Saudi Arabia (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons), together finishing at 72% of total export. The following exporters - Germany (X tons), Finland (X tons), China (X tons), Russia (X tons), the United States (X tons) and the Netherlands (X tons) - together made up 19% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +64.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Spain ($X), Belgium ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 35% share of global exports. These countries were followed by South Korea, Taiwan (Chinese), Thailand, Singapore, Germany, Finland, the United States, China, the Netherlands and Russia, which together accounted for a further 54%.

Among the main exporting countries, China, with a CAGR of +54.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average acetone export price stood at $X per ton in 2021, jumping by 28% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 30%. The global export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.1%), while the other global leaders experienced more modest paces of growth.

Acetone Imports

Imports

In 2021, supplies from abroad of acetone increased by 10% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 21% against the previous year. Over the period under review, global imports hit record highs at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, acetone imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 57%. Global imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the major importer of acetone, constituting 32% of total imports. The United States (X tons) held the second position in the ranking, followed by the UK (X tons), Germany (X tons), India (X tons) and the Netherlands (X tons). All these countries together held near 32% share of total imports. The following importers - Belgium (X tons), Switzerland (X tons), Italy (X tons), Mexico (X tons), Thailand (X tons), Brazil (X tons) and Turkey (X tons) - together made up 18% of total imports.

Imports into China decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, the UK (+163.6%), the United States (+18.1%), Italy (+10.3%), Belgium (+8.7%), Turkey (+4.4%), Brazil (+3.2%), Switzerland (+2.3%) and India (+1.4%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in the world, with a CAGR of +163.6% from 2012-2021. By contrast, the Netherlands (-1.2%), Thailand (-2.9%), Germany (-5.6%) and Mexico (-6.9%) illustrated a downward trend over the same period. The UK (+7.1 p.p.), the United States (+6.2 p.p.), Belgium (+1.6 p.p.) and Italy (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while Mexico, Germany and China saw its share reduced by -2.8%, -5.3% and -7.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported acetone worldwide, comprising 28% of global imports. The second position in the ranking was taken by the United States ($X), with a 7.6% share of global imports. It was followed by the UK, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -2.4%. In the other countries, the average annual rates were as follows: the United States (+17.1% per year) and the UK (+150.8% per year).

Import Prices by Country

The average acetone import price stood at $X per ton in 2021, jumping by 28% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 39% against the previous year. Global import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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