Summary
Bio-ketones Market in APAC-Segmented by Product Type, By Application Industry, and Geography- Trends and Forecasts( 2017-2022). The APAC bio-ketones market is driven by rising crude oil prices, a high demand from end-user industries and by stringent government regulations in the region.
Description
The bio-ketones market in APAC has been estimated at USD XX. XX billion in 2015 and is projected to reach USD XX. XX billion by 2020, at a CAGR of XX. XX % during the forecast period. Bio-ketones are environment-friendly organic compounds that are produced from bio-based raw materials. Bio-ketones are used as solvents in the paints and coatings sector, as preservatives, and in hydraulic fluids.
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Bio-ketones can be used for various applications such as paints and coatings, automobile, aerospace, infrastructure, pharmaceutical, and others. Paints and coatings is the major application in the bioketones market, accounting for a share of XX. XX % in 2015. The automobile segment will be the fastest growing segment, growing at a CAGR of XX. XX % in 2015. The market is also segmented on the basis of product types such as bio-MEK, bio-PEEK, bio acetone, and others. Bio-PEEK will be the largest segment accounting for a share of XX. XX % in 2015.
Market Dynamics of the APAC Bio-ketone Market:
The APAC bio-ketones market is driven by rising crude oil prices, a high demand from end-user industries and by stringent government regulations in the region. However, this market faces certain drawbacks such as the huge competition from fossil-fuel products, etc.
The Asia-Pacific is the leading consumer of bio-ketones in 2015 accounting for a share of XX %, followed by North America and Europe. The bio-ketones market in China will grow at a high rate during the forecast period owing to the huge demand from the infrastructure industry in China.
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Furthermore, the shifting focus towards organic alternatives and shifting focus towards the usage of eco-friendly products will offer numerous opportunities for the growth of the bio-ketones market.
Some of the major companies dominating the market with its products, and continuous product developments are:
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