ESOMAR-certified firm Future Market Insights (FMI) has recently published an extensive study on the global diketene market. According to the study, diketene demand is set to grow at nearly 5% in 2021, with growing focus on health & wellness creating substantial opportunities.
The pharmaceutical industry has made prolific advances, interspersed with numerous technological innovations and breakthroughs in drug development. For instance, India is the leading global generic drug market, valued at over US 19.1 billion as of 2019. Thus, diketene manufacturers are increasing their presence across the Asian markets.
In addition to surging demand from pharma and nutraceutical segment, diketene sales are likely to receive a fillip from the dyes & pigments segment. According to FMI’s analysis, the global pigments and dyes industry was valued at nearly US$ 35 million in 2020. The industry uses a slew of products as raw materials, however, growing consumer concerns has led the industry to incorporate organic and natural raw materials. Diketene derivatives are widely used in the production of a number of organic pigments, and FMI estimates this channel to create substantial opportunity during the assessment period.
- Global diketene market is likely to exhibit a value CAGR of 5% through 2030
- Diketene esters to generate 73% of the overall revenue by derivative type across the forecast period
- By application, pharmaceuticals & nutraceuticals to acquire 170 BPS, generating over 40% revenue share
- China is expected to emerge as a potential investment hotspot, owing to maximum proliferation of chemical manufacturers
“Favorable investment policies combined with extensive uptake to manufacture enhanced pharmaceutical and nutraceutical products in the wake of a rapidly exploding population is opening up growth avenues across East Asia,” concludes the FMI analyst.
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Prominent players operating in the global diketene market landscape include Lonza, Eastman Chemical Company, Daicel Corporation, Laxmi Organic Industries Ltd., Mitsubishi Chemical Co. Ltd., Zhang Jiagang Hope Chemicals Co. Ltd., Nantong Acetic Acid Chemical Co. Ltd., Ningbo Wanglong Technology Co., Jubilant Life Sciences Ltd. and Toronto Research Chemicals.
Strengthening business foundations for ensuring sustainable growth is a primary strategy deployed by these players to remain afloat in the market. For this, they emphasize on maximizing profitability from existing product portfolios by undertaking significant cost reductions, enhancing cash flows and expanding investment volumes.
More Insights on FMI’s Diketene Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global diketene, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the diketene on the basis of derivative (diketene esters, arylamides, alkylamides, dihydroacetic acid & salt (DHS) & others) and application (agrochemicals, pharmaceuticals & nutraceuticals, pigments & dyes and others) across six major regions.
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Key questions answered in the report
- What is the outlook on future diketene demand?
According to FMI, the global diketene market is expected to register a steady growth trajectory, recording a value CAGR of 5% and reaching US$ 630 Mn by 2030. Growth is largely attributed to heightening adoption across the pharmaceuticals & nutraceuticals and agrochemicals industries
- Which is the most promising diketene market?
China is expected to emerge as the most lucrative diketene market, contributing almost 3/5th of the global revenue share. This growth is largely attributed to a proliferating pharmaceutical segment due to increased consumption of health supplements
- Which are the prominent diketene manufacturers?
Prominent players in the diketene market include Lonza, Eastman Chemical Company, Daicel Corporation, Laxmi Organic Industries Ltd., Mitsubishi Chemical Co. Ltd., Zhang Jiagang Hope Chemicals Co. Ltd., Nantong Acetic Acid Chemical Co. Ltd., Ningbo Wanglong Technology Co., Jubilant Life Sciences Ltd. and Toronto Research Chemicals