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Patent Granted Acetone (systematically named propanone) is the organic compound with the formula (CH3)2CO. It is a colorless, volatile, flammable liquid, and is the simplest ketone. Acetone is miscible with water and serves as an important solvent in its own right, typically for cleaning purposes in the laboratory. About 6.7 million tonnes were produced worldwide in 2010, mainly for use as a solvent and production of methyl methacrylate and bisphenol A.