Acetone price October 2024 and outlook (see chart below)
- North America:US$1.41/KG, unchanged
- Europe:US$1.2/KG, unchanged
- Northeast Asia:US$0.85/KG, -2.3% down
- Southeast Asia:US$0.71/KG, -4.1% down
- Middle East:US$0.81/KG, unchanged
- Africa:US$1.05/KG, -2.8% down
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Acetone Price Index
This post is a summary of the acetone price developments. The price developments of acetone are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Acetone price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.
The outlook for acetone prices, on the second tab, is generated from different inputs including:
- Very recent price developments of immediate cost drivers of acetone prices
- Recent price developments of underlying feedstocks which drive the price of acetone
- Market futures for both cost drives and feedstocks of acetone prices
- Adjustment of current supply/demand imbalances in the acetone market
- Longer term trends in likely demand conditions
Further sources of information on the Acetone price index
What is Acetone
Acetone is a clear, colorless liquid with a sweet, fruity smell. It is a solvent, which means that it can dissolve other substances. Acetone is commonly used in the manufacturing of plastics, fibers, and other industrial products. It is also used as a solvent in the laboratory and is a component of some cleaning agents. In addition, acetone is used as a solvent for removing nail polish and is found in some cosmetics. Acetone is flammable and should be handled with caution.
How is Acetone produced
There are several ways to produce acetone, but the most common method is through the fermentation of corn or other crops. This process involves the conversion of carbohydrates to acetone and other chemicals through the action of bacteria. The acetone is then separated from the other chemicals and purified for use.
Another method for producing acetone is through the dehydrogenation of isopropanol, which is a type of alcohol. This process involves the use of a catalyst and high temperatures to convert the isopropanol to acetone.
Acetone can also be produced through the cumene process, which involves the oxidation of cumene, a hydrocarbon, to produce acetone and phenol. This process is commonly used in the production of plastics and other industrial products.
Overall, the production of acetone involves chemical reactions that convert raw materials into the final product. The specific process used depends on the availability of raw materials and the desired end product.
What drives the cost of Acetone
There are several factors that can drive the cost of acetone, including:
Feedstock prices
The price of acetone can be affected by the price of the raw materials used to produce it. Acetone is usually produced from propylene, which is a byproduct of the refining of crude oil. Therefore, fluctuations in crude oil prices can have an impact on the cost of producing acetone.
Transportation costs
The cost of transporting acetone from the manufacturing site to the end user can also impact the overall cost of acetone.
What is acetone used for
Acetone is a versatile solvent that is used in a variety of applications. Some common uses of acetone include:
Industrial manufacturing
Acetone is used as a solvent in the production of plastics, fibers, and other industrial products.
Laboratory use
Acetone is commonly used as a solvent in the laboratory for the dissolving of various chemicals.
Cleaning agents
Acetone is a component of some cleaning agents and is used to dissolve dirt and grime.
Nail polish remover
Acetone is often used as a solvent for removing nail polish.
Cosmetics
Acetone is found in some cosmetics, such as nail polish and other beauty products.
Medical use
Acetone is used in the production of some medications and is also used as an antiseptic.
Overall, acetone has a wide range of uses due to its ability to dissolve other substances and its chemical stability.
How big is the acetone market
It is difficult to estimate the size of the acetone market as a whole, as it is used in a variety of industries and applications. However, acetone is a widely used chemical and is an important component in the production of many industrial and consumer products. According to some estimates, the global acetone market was valued at around $5.5 billion in 2019 and is expected to grow at a compound annual growth rate of around 4.5% from 2020 to 2025. The growth of the acetone market is driven by factors such as increasing demand for acetone in the production of plastics and other industrial products, as well as growing demand for acetone in the cosmetics industry.
According to https://oec.world/ :
Acetone are the world’s 1558th most traded product.
In 2020, the top exporters of Acetone were Chinese Taipei ($159M), Thailand ($157M), South Korea ($154M), Saudi Arabia ($131M), and Spain ($123M).
In 2020, the top importers of Acetone were China ($486M), Germany ($125M), Belgium ($83.6M), Netherlands ($74.8M), and India ($60.3M).
Further information
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