As per the findings of the report, the global diketene derivatives market is expected to witness significant growth between 2018 to 2028, because of reasons such as increasing demand from pharmaceutical and nutraceutical, agrochemical, and pigment and dye industries. The global diketene derivatives market was valued at US$ 324.9 Mn in the year 2017, and is expected to expand at a CAGR of 8.2% over the forecast period of 2018 to 2028.
Increasing production of medicines, vitamins, pesticides, and paints and coatings, among others, has resulted in a drastic increase in the demand for diketene derivatives, which are used as intermediates in their production. This explains the projected high growth of the diketene derivatives market during the forecast period.
Diketene is a versatile and reactive chemical compound that has a variety of uses in organic synthesis. It is a yellow, oily liquid that is composed of two ketene molecules that are bound together. Due to its reactivity and instability, diketene is typically not used directly in chemical reactions. Instead, it is often converted into a range of more stable diketene derivatives that can be used in various synthetic applications.
Diketene derivatives are important intermediates in the production of a wide range of chemicals and materials. One of the most common uses of diketene derivatives is in the production of pharmaceuticals. For example, acetoacetate esters are diketene derivatives that are used in the synthesis of a range of drugs, including antibiotics, anti-inflammatory agents, and anticancer agents.
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South Asia Expected to Project Significant Growth Opportunities for Global Diketene Derivative Market Players
The global diketene derivatives market is fairly large and consolidated. There are a few players that have established themselves at international as well as domestic levels. These players are trying to grow further by expanding into high-growth regions, and also by expanding their manufacturing capacities to cater to the increasing demand.
East Asia is expected to be a prominent region in the global diketene derivatives market throughout the forecast period, because of the increasing production and consumption in China. Besides East Asia, South Asia, which includes countries such as India, Malaysia, and Thailand, is also projected to be a lucrative region for the global diketene derivatives market.
Developing economies, industrialization, and increasing annual income of the population in this region are some of the reasons that are majorly driving the opportunities of growth in South Asia.
Alkylamides – by Derivative, and Pharmaceuticals & Nutraceuticals – by Application, to Remain Prominent over the Forecast Period
The market has been segmented on the basis of derivative and application, besides the seven regions.
- On a global level, the alkylamides in the global diketene derivatives market are expected to be the top selling derivative throughout the forecast period. The growth of the sales of this segment over the forecast period is projected to be significantly high when compared to other derivatives such as arylamides, alkylamides, and dihydroacetic acid (DHS) and salt, among others.
- Diketene derivatives are consumed for many applications such as pharmaceuticals and nutraceuticals, agrochemicals, and pigments and dyes, among others. The pharmaceuticals and nutraceuticals segment is estimated to be one of the prominent applications of diketene derivatives, and is expected to consume a considerable volume of diketene derivatives throughout the forecast period.
- Besides pharmaceuticals and nutraceuticals, the application of diketene derivatives in the agrochemical industry is also expected to create significant revenue for the global diketene derivatives market. This is driven by the increasing amount of cultivation across geographies, which has resulted as a consequence of the global hike in demand for food. Utilization has become a necessity for farmers in order to increase their farming yield and prevent crop destruction. This directly creates demand for diketene derivative, and hence drives the growth of the market.
Diketene Derivatives Market: Vendor Insights
The report highlights some of the market players that are prominent and have established themselves as the leaders in the global diketene derivatives market. Most of these players offer diverse portfolios of diketene derivatives for various end-use industries. Other key strengths that are important and common among these global diketene derivative players are their global presence and active participation in research and development (R&D), which helps them compete, expand their diketene derivatives product portfolio, and grow further in the global diketene derivatives market.
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Key Segment
By Derivative
- Diketene Esters
- Arylamides
- Alkylamides
- Dihydroacetic Acid (DHS) and Salt
- Others
By Application
- Agrochemicals
- Pharmaceuticals and Nutraceuticals
- Pigments and Dyes
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa
- Oceania
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of 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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