The global market for solketal is anticipated to grow at a CAGR of 3.50 percent from 2022 to 2032, rising from US$ 76.85 billion in 2022 to US$ 108.4 billion in 2032. Glycerol is primarily sourced from biological sources, but acetone is produced commercially by petrochemical methods. This could be a major factor limiting the expansion of the solketal market.
This Solketal market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documents that capture all the facets of the evolving Solketal market.
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Global Solketal Market: Introduction
Solketal is also known as isopropylidene glycerin. Solketal is categorized under glycerin and glycerin derivatives and has significant potential to be used as an additive to improve biodiesel properties. By IUPAC standards, solketal is identified as 4-hydroxymethyl-2,2-dimethyl-1,3-dioxolane. Solketal is a clear, colorless, and odorless liquid, and possesses good fluidity at room temperature. Solketal has been widely used for the organic synthesis of mono, di, and tri esters and is recognized as a green industrial solvent additive in gasoline and biofuels.
Solketal is formed by reacting glycerol and acetone in the presence of an acid which results in the formation of a five-membered ring called 1,3-dioxolane, which releases the water molecule to form solketal. There has been a rise in demand for solketal as an oxygenated fuel additive, as it can be used to reduce particulate emission and improve the flow properties of transportation fuels. Solketal has also shown noteworthy demand to improve oxygen stability and increases the octane number of gasoline and has significantly reduced the gum formation along the vehicle fuel lining.
Global Solketal Market Dynamics
The growing demand for biofuels and biodiesel is expected to create demand for solketal over the forthcoming years. Solketal is found to be soluble in gasoline and also in gasoline with a significant proportion of ethanol. Solketal is also being used to increase the octane number of the fuels. The global solketal market has also witnessed a growing demand for its use as a chemical intermediate to synthesize benzyl socket ether. With the stringent regulations pertaining to the use of biofuels and additives, there has been an expected rise in demand for sockets over the coming years.
The global societal market has faced a number of challenges pertaining to the use of acetone in its synthesis. Though society is applied in a number of applications as biofuels, there are controversies surrounding its other constituent i.e. acetone. Glycerol is majorly derived from biological origin but the other feedstock i.e. acetone is commercially obtained from the petrochemical processes. This may act as a key factor restraining socket market growth.
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Global Solketal Market: Regional Outlook
In terms of regional perspective, Europe and North America are anticipated to represent a significant market share in the global socket market. This is attributed to the increasingly stringent regulations pertaining to the use of biofuels across a range of applications. Asia Pacific is anticipated to register a steady rise in demand over the second half of the forecast period. China is anticipated to be a major consumer of sockets in the Asia Pacific region. Other regions such as Latin America and Middle East and Africa are anticipated to be regions with low volume share but are projected to witness a robust rises in demand over the forecast period.
The legalization of glycerol and acetone yields cyclic ether known as Solketal. The global societal market manufacturers are in lining up and channelizing their efforts for the production of bio-based sockets to improve efficiency and to meet the stringent regulations pertaining to the use of additives. Moreover, there has been increasing in the production of the high-purity grade socket for use in the pharmaceutical and food industry
Global Solketal Market Participants
Some of the market participants identified across the value chain of the global societal market are:
- GLACONCHEMIE GmbH
- Sigma Aldrich (Laboratory Grade)
- Fisher Scientific
- Loba Feinchemie AG
- TCI EUROPE N.V.
- Alfa Aesar
- CM Fine Chemical
- Abcr GmbH
- Suzhou Jinghua Chemical Co., Ltd.
- Yancheng Jinghua Chemical Co., Ltd.
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Global Solketal Market: Segmentation
The global societal market can be segmented on the basis of application, purity, and end-use industry
Based on the purity
- 96-98%
- 98%
- >98%
Based on the application
- Solvent
- Pharmaceutical intermediate
- Biofuel
Based on the end-use industry
- Cosmetics and personal care
- Food and beverage industry
- Pharmaceutical Industry
- Chemical Manufacturing
- Paints and coatings
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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