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Bio-Ketones Market - Segmented by Product Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2020 - 2025)

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The global bio-ketones market is expected to witness a CAGR of around 15% during the forecast period, majorly driven by increasing demand of bio-ketones from the cosmetics and personal care industry. The government regulations to shift towards the bio-based products is also likely to stimulate the market growth.  

Increasing Demand from Cosmetics and Personal Care Driving the Market

Acetone is widely used as a solvent and denaturant in the cosmetics and personal care industry. Bio acetone is used a renewable alternative to petroleum-based acetone. The global personal care industry is valued at USD 350 billion in 2017 and is estimated to grow at 5% per year. But the natural and sustainable cosmetics industry is expected to grow at 15% per year. Both customers and manufacturers are focusing on eco-friendly bio-based active ingredients, which is expected to drive the demand of bio-ketones in the coming years.

Bio PEEK the Dominant Product Type

The bio PEEK product type is estimated to account for the largest market share in the global bio-ketones market. PEEK is highly used in the automotive industry as a replacement of metals as it helps in the reduction of automobile, which, in turn, leads to further fuel efficiency. Features, such as increase in performance and weight minimization of in-engine components this coupled with the growth in the automotive industry has made bio PEEK market take a substantial lead in the bio-ketones market.

Medical Devices Industry Making North America the Dominant Market

Asia-Pacific was a leading consumer of bio-ketones in 2017, followed by North America and Europe. The bio-ketones market in China is likely to grow at a high rate during the forecast period, owing to the huge demand from the pharmaceutical industry in China. Moreover, with increasing demand of paints & coatings from the construction sector, along with increase in automotive manufacturing facilities across China, India, Thailand, and Indonesia, the demand for bio-ketones is expected to grow at a high rate in the coming years.

                                       

Notable Developments

  • In Dec 2017, Global Bioenergies announced the start-up phase of a project to convert renewable resources into acetone and isopropanol

Major Players: Solvay Speciality Polymers, Sigma-Aldrich Co. LLC, LanzaTech, Genomatica and Eastman Chemicals, among others.

Reason to Purchase this Report

  • To understand the impact of various product type on the market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating product type and end-user industry in the market
  • Countries expected to witness the fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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