According to latest research conducted by Future Market Insights, the global market of ketones is anticipated to grow with a CAGR of 4.5% to 6% during the coming assessment period of 2021-2031. The demand for the cyclic ketones are expected to remain in a higher state for the production of nylon. Further the demand for solvent and precursor to polymers will increase the consumption rate of this category of ketone.
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What is Driving Demand for Cyclic Ketones?
As most of the ketones are cyclic in nature, the larger derivatives like cyclohexanone and cyclopentanone have significant applications in various chemical industries. With the growing demand in the textile industry for the most common polymer usage such as, fibers i.e. Nylon used for sports apparel and gym equipment.
The demand of cyclohexanone is also expected to increase as the functional group where it acts as an intermediate and is consumed for the production of precursors like caprolactam and Adipic acid. Growing demand of cyclohexanone primarily as a chemical intermediate and as a solvent for various lacquers like paints, and resins is expected to be observed in the coming years.
The compound cyclopentanone is a key driver for the market of cyclic ketones as it has a number of applications in the synthesis of several chemical compounds in pharmaceutical industries and its use as an aroma chemical in perfumes & aroma industry.
Adoption of Sustainable Energy Goals to Boost Demand for Cyclic Ketones
Due to the high use of depleting non-renewable sources of energy like Petrol, diesel, etc., and the resulting pollution concerns, various international industry associations as well as government regulators have begun drawing up time bound goals for adoption of sustainable and bio-based energy sources. Key players in the energy sector are now focusing on developing new fuels that are ideal energy sources for combustion engines, which will also results in higher engine performance and lower GHG emissions.
As cyclic ketones are one of the bio-derived fuels that have high resistance to auto-ignition which further can improve engine performance and reduces unhealthy emissions which could be the potential alternatives to petroleum based fuels in future. The growing demand for use of renewable sources of energy or use of clean energy in the various developing and developed economies all around the world can benefit the sales of the cyclic ketones in the coming years due to its desirable combustion characteristics to become a source of sustainable energy in future.
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Who are the Key Manufacturers and Suppliers of Cyclic Ketones?
Some of the leading manufacturers and suppliers include:
- BASF SE
- Gujarat State Fertilizers and Chemicals Ltd
- Alfa Aesar
- Asahi Kasei Corporation
- Sigma-Aldrich
- Zeon Chemicals
- Zhejiang NHU Co., Ltd
- Xinyi Dongsheng Chemical Co., Ltd
- Shandong Guorun Chemical Co., Ltd
- Company eight
Cyclic Ketones Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
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