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 :
� AstaTech , Inc . � BASF � Celanese Corporation www . orbisresearch . com ; + 1 ( 214 ) 884-6817 ; + 9120-64101019