Acetone Market Regional Analysis:
North American Market Insights
The market in the North American region is projected to hold the largest market share by the end of 2035. Increasing production of flat screen computers that increase the usage rate of acetone. As per the estimations, in 2019 Gen 10 and larger flat panel display capacity across the world reached 12 million. Besides, the United States is also the powerhouse of the automotive industry. In 2021, the United States Auto Plant produced 6.5 million passenger cars which increased by 4% as compared to 2020. Future expansion in the automotive industry in this region is expected to fuel the market in North America.
Europe Market Insights
On the other hand, the market in Europe is also anticipated to grow significantly in the forecast period. The cosmetic industry in Europe is driving the growth of the acetone market. As more & more people get aware of their skin problems, makeup, and skincare. People are ending up spending on skincare, personal care, and makeup products which boosts the acetone market in the region. Besides, the cosmetic industry, there is high demand for the painting and coating industry in Europe which is also driving the growth of this market.
APAC Market Insights
The market in the Asia Pacific region is anticipated to hold the second-largest market share in the forecast period. This can be attributed owing to the great demand for the pharmaceutical, cosmetic, personal care, and automotive industry in this region, especially from countries including China, Japan, and India. China is the biggest consumer of acetone due to the fact China has the largest pharmaceutical and automotive market and this product consumption is more in China as compared to other countries.
