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- * Key Findings
- * Research Scope
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Phenol & Acetone Market Size, Share, Growth and Industry analysis, By Type (Phenol, Acetone), By Application (Industrial, Pharmaceuticals, Other) and Regional Forecast to 2034
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PHENOL & ACETONE MARKET OVERVIEW
The global phenol & acetone market size was valued at USD 2.06 billion in 2025 and is expected to reach USD 3.04 billion by 2034, growing at a compound annual growth rate (CAGR) of about 4.42% from 2025 to 2034.
The United States Phenol & Acetone Market size is projected at USD 0.69 Billion in 2025, the Europe Phenol & Acetone Market size is projected at USD 0.58 Billion in 2025, and the China Phenol & Acetone Market size is projected at USD 0.51 Billion in 2025.
The two chemicals that are used regularly are acetone and phenol each of which has numerous uses. Phenol additionally called carbolic acid is a white crystalline solid that finds software in large part in the manufacturing of resins and plastic and as a beginning material for other capsules and chemical compounds. It is a flammable and volatile liquid that mainly serves as a business solvent and a chief issue for the production of recent products like artificial fibers and plastics.
The wide utilization of phenol and acetone in commercial programs, medicines, and different industries drives the decision for these products. The expansion of the improvement and automotive industries, which utilize phenolic resins significantly, has a first-rate effect on the call for phenol. Similarly to this, the marketplace for acetone is pushed through its use within the manufacturing of adhesives, coatings, and personal hygiene gadgets. Both compounds are vital to several downstream sectors, which ensures their marketability and call for in the end.
KEY FINDINGS
- Market Size and Growth : Valued at USD 2.06 billion in 2025, expected to reach USD 3.04 billion by 2034, growing at a CAGR 4.42%
- Key Market Driver : Bisphenol-A production drives over 55% of phenol demand; acetone usage in solvents contributes more than 35% of global consumption.
- Major Market Restraint : Over 22% decline in automotive demand and 18% fluctuation in crude oil prices affected production margins and raw material supply.
- Emerging Trends : Bio-based phenol development rose by 14%, and green acetone technologies adoption increased by approximately 11% in recent years.
- Regional Leadership : Asia-Pacific leads the market with 48% share, followed by North America at 27% and Europe accounting for nearly 19%.
- Competitive Landscape : Top five players hold over 60% market share; mergers and expansions rose by 13% over the past two years.
- Market Segmentation : Phenol holds approximately 63% market share, while acetone accounts for around 37% in global consumption and downstream applications.
- Recent Development : Over 16% capacity expansion occurred in Asia-Pacific, and sustainability investments rose by 12% among top market participants recently.
COVID-19 IMPACT
The Pandemic Decreased the Market Growth Due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market growth and demand returning to pre-pandemic levels.
The COVID-19 pandemic extensively impacted the phenol and acetone marketplace, inflicting disruptions in supply chains and fluctuations in name for. During the preliminary ranges of the pandemic, commercial names for phenol and acetone dropped due to reduced manufacturing sports and manufacturing facility shutdowns. However, the call for acetone surged within the pharmaceutical and healthcare sectors due to its use in sanitizers and disinfectants. Despite those shifts, the marketplace confronted demanding situations like raw material shortages and logistical hurdles. Overall, the pandemic created a risky environment, with certain segments experiencing heightened call for at the same time as others faced declines.
LATEST TRENDS
Increasing Demand from the Automotive and Construction Industries Leads to Market Growth
The construction and automotive industries especially in the emergent countries are stimulating the new trend of the phenol and acetone market. Nevertheless, there are new trends in use the of biotechnology for the production of phenol and acetone based on the impacts on the environment and the decrease in the consumption of fossil products. With the aid of a sophisticated technique, industries are now set to obtain superior results flexible with cost-effective results. Further, it is getting more demand from other applications that are related to the growth of phenol and acetone consumption in various sectors of pharmaceuticals and personal care products subsegments.
- According to industrial sustainability reports and chemical associations, over 10% of new production capacities globally in 2024–25 are designated for bio‑based phenol and acetone manufacturing
- Industry estimates show that Asia‑Pacific accounts for over 50% of global production and consumption of phenol and acetone
PHENOL & ACETONE MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into Phenol and Acetone.
- Phenol: Phenol is a commonly utilized precursor of many chemicals and medications as well as a byproduct of the manufacture of polymers and resins.
- Acetone: Used in cosmetic items like nail polish removers, acetone is an essential solvent in the production of plastics, textiles, and pharmaceuticals.
By Downstream Industry
Based on Downstream Industry the market is classified into Industrial, Pharmaceuticals, and Other
- Industrial: Acetone and phenol are necessary for the production of goods such as synthetic fibers, resins, and plastics, which makes them vital to the industry.
- Pharmaceuticals: The significance of these compounds in the pharmaceutical industry is demonstrated by the fact that they are utilized as intermediates in the manufacturing of a range of medications and medical supplies.
DRIVING FACTORS
Growing Demand from the Industrial Sector Lead to an Increase in Market Demand
Industrial programs dominate phenol and acetone consumption because chemical substances are used within the production of other products consisting of adhesives, coatings, and plastics. The call for for phenol and acetone is still strong due to the fact numerous industries particularly car, creation, and electronic industries are nonetheless increasing globally. The bead’s versatility in making manufactured production chemical resistance, sturdiness, and structural balance prove that they are fundamental aspects of the economic sector.
- Automotive and construction industries together consume over 55% of total phenol and acetone volumes, primarily via bisphenol A and phenolic resin applications
- Combined demand for electronics and pharmaceutical sectors constitutes approximately 45%+ of end-use volume for acetone and phenol
Extensive Application in Pharmaceuticals Accelerates Market Growth
The marketplace for phenol & acetone is significantly fueled by their massive use in medicines. A not-unusual middleman in the production of medications consisting of antiseptics, analgesics, and disinfectants is phenol. Acetone is a crucial thing in pharmaceutical formulations and is used as a solvent in non-public care and medicinal products. The demand for phenol and acetone is further pushed via the pharmaceutical industry's ongoing R&D efforts as well as the growing want for healthcare globally. Their pivotal significance in propelling the marketplace ahead is highlighted via their dual role in pharmaceutical formulations and industrial applications.
RESTRAINING FACTORS
Volatility in Raw Material Prices Slows Down the Market Growth
The number one restraint on phenol & acetone market growth is the fluctuation of raw cloth costs, which more often than not influences feedstocks like propylene and benzene. Price fluctuations for these feedstocks have a direct impact on production prices, which in turn influences the makers of phenol & acetone's general profitability and pricing regulations. Environmental policies and compliance requirements additionally provide difficulties due to the fact they require investments in waste control systems and greener production technology because of their strict standards. The phenol & acetone market's stakeholders operate in a complex environment that necessitates a strategic version for sustainability and competitiveness due to regulatory needs and market instability.
- Benzene and propylene price swings account for up to 20% fluctuations in producers’ raw material input cost, increasing operational uncertainty
- For every 1 tonne of phenol produced, about 0.5 tonne of acetone is generated—creating frequent imbalance when phenol demand outpaces acetone demand, leading to acetone oversupply
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PHENOL & ACETONE MARKET REGIONAL INSIGHTS
Asia Pacific to Dominate the Market due to Strong Environmental Legislation
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Considering the phenol & acetone market share, Asia Pacific is the market leader. Many factors put their stake in this domination like the chemical manufacturing SOEs of nations like China, India, Japan, and South Korea, growing industrialization, and robust manufacturing activity. These countries also help meet the growing regional as well as international demand and at the same time, are big manufacturers of phenol and acetone. The Asia Pacific market is valued by favorable governmental regards that boost industrial growth and enhancements in infrastructure. Therefore, such a region will continue to be influential in shaping the future trends of phenol and acetone due to its strategic location in the production of different industries.
KEY INDUSTRY PLAYERS
Key Industry Players Shaping the Market through Innovation and Market Expansion
Leading chemical manufacturers, famous for their good-sized production potential and technological traits in chemical synthesis, are key gamers within the phenol and acetone marketplace. These groups make massive contributions to some sectors, which include plastics, drug treatments, and personal care goods, wherein crucial raw chemical compounds like phenol and acetone are used. Their large worldwide reach and observation programs stimulate innovation in production techniques and product improvement, making certain ordinary shipping of top-fee phenol and acetone satisfy quite several international marketplace needs.
- Chang Chun Group: Operates phenol-acetone plants with capacity exceeding 600 ktpa, largely based in Taiwan and China chemical hubs.
- Mitsui Chemicals: Supplies phenol derivatives for bisphenol-A and resin segments in 20 countries, distributing over 400 ktpa capacity.
List of Top Phenol & Acetone Companies
- Chang Chun Group
- Mitsui Chemicals
- DowDuPont
- ALTIVIA
- Kumho P&B
- Shell
- AdvanSix
- Formosa
- Sabic
- Sinopec & Mitsui
- CEPSA
- Versalis
- Ineos
- LG Chem
- Taiwan Prosperity
- Mitsubishi Chemical
- Borealis Polymers
- PTT Phenol
INDUSTRIAL DEVELOPMENT
PTT Global Chemical (PTTGC), a division of the renowned Asian petrochemical company PTT, has effectively restarted phenol and acetone manufacturing.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence the market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
Attributes | Details |
---|---|
Market Size Value In |
US$ 2.06 Billion in 2025 |
Market Size Value By |
US$ 3.04 Billion by 2034 |
Growth Rate |
CAGR of 4.42% from 2025 to 2034 |
Forecast Period |
2025-2034 |
Base Year |
2024 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
|
By Type
|
|
By Application
|
FAQs
The phenol & acetone market is expected to touch USD 3.04 billion by 2034.
The phenol & acetone market is expected to exhibit a CAGR of 4.42% over 2034.
Growing Demand from the Industrial Sector and Extensive Application in Pharmaceuticals are some of the driving factors of the phenol & acetone market.
The key market segmentation, which includes by type (Phenol, Acetone), by application (Industrial, Pharmaceuticals, Other).
Chang Chun Group, Mitsui Chemicals, DowDuPont, ALTIVIA, Kumho P&B, Shell, AdvanSix, Formosa, Sabic, Sinopec & Mitsui, CEPSA, Versalis, Ineos, LG Chem, Taiwan Prosperity, Mitsubishi Chemical, Borealis Polymers, PTT Phenol are some of the key market players in the phenol & acetone market.
The phenol & acetone market is expected to be valued at 2.06 billion USD in 2025.