Global Ketone Market: Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
(PRWEB) August 15, 2014
Ketones usually simple are compounds that contain a carbonyl group, and due to exclusion of reactive groups such as –Cl or –OH, ketones are considered simple in nature. Industrial solvent acetone and sugar (ketoses) are some of the commonly used ketones. Various methods are implemented for the production of ketones in academic laboratories on an industrial scale, and are also produced in certain ways by organisms. Ketones are manufactured in industries on a large scale as pharmaceuticals, polymer precursors and solvents. On the basis of their type, ketones are divided into cyclohexane, methyl ethyl ketone (MEK) and acetone. Ketones are a common term in biochemistry, however, a lesser known term in organic chemistry. MEK is a colorless, flammable, stable liquid with similar odor to acetone. MEK exhibits the ability to be miscible with water and other organic solvents. MEK is a valuable and powerful solvent for many solvents such as resinous materials owing to its exceptional solvency.
Emerging regions such as Asia Pacific, particularly China accounted for the largest market share in the MEK market and expected to lead the market over the forecast period, due to rapid economic growth in these economies. However, a recent decrease in market share in 2011 occurred in Asia Pacific where consumption of MEK was affected in Japan, majorly due to occurrence of natural disasters such as tsunami and earthquake. Acetone is another type of ketone which is miscible with water and acts as a vital solvent, particularly for cleaning applications in laboratories. Acetones are majorly used as solvent as well as in the production of methyl methacrylate and bisphenol A. Acetone is a common building block in organic chemistry and are commonly used in households as active ingredients in nail polish removers as well as paint thinners. Other forms of ketone such as cyclohexane is used for manufacturing cyclohexanone and cyclohexanol, which are primarily used as precursors for caprolactum and adipic acid. The global demand for cyclohexane is expected to remain strong, primarily due to macroeconomic conditions such as cyclohexane’s intrinsic link to the polyamide chain and their consumption in textiles, construction and automobiles.
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This type of ketone is also a bio compatible material, which is semi crystalline in nature due to which it has been gaining worldwide acceptance as implants in the medical industry. Lack of toxicity, sterilization resistance and MRI compatibility are some of primary characteristics of polyether ether ketone which make them appropriate for different medical applications such as spine devices. In addition, rising number of research and development activities for increasing the application scope of the medical industry of PEEK is expected to provide new opportunities for the growth of the overall ketones market. The automotive industry accounts for the major segment in the overall ketones market. On account of rising fuel prices and renewable fuel resources, fuel efficiency has become a primary factor for the growing demand for automobiles. Other factors such as the weight of the vehicle has also been influencing fuel efficiency leading to more demand for polyether ether ketone due to high strength and light weight property. In addition, low environmental hazards regarding the use of ketone as well its manufacturing have the ketone compliant with various environmental regulations. Due to this, rising demand for environmental friendly and efficient materials have contributed significantly towards the growth of the ketone market.
Caledonian Ferguson Timpson Ltd, Jida Evonik High Performance Polymers (Changchun) Co. Ltd, Panjin Zhongrun High Performance Polymers Co. Ltd, Prototype & Plastic Mold Co. Inc., Solvay Specialty Polymers, and Tri Town Precision Plastics, Inc are some of the key manufacturers of ketone present in the market.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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- Current market trends
- Market structure
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