Summary
Bio-ketones Market in North America-Segmented by Product Type , By Application Industry , and Geography-Trends and Forecasts ( 2017-2022 ). The USA is the leading consumer of bio-ketones in 2015 accounting for a share of XX % in North America . North America leads the bio-PEEK market globally owing to the huge demand for bio-based products from the end-user industries .
Description
The bio-ketones market in North America 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 . Bioketones 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 PEEK , bio-MEK , bio acetone , and others . Bio-PEEK will be the largest segment accounting for a share of XX . XX % in 2015 .
Drivers for the bio-ketone market in North America are :
� Depleting natural resources � Demand from automobile industry � Stringent government regulations .
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� Restraints Faced by the bio-ketone market in North America are : � Shortage of raw material � Huge competition from fossil-fuel products
The USA is the leading consumer of bio-ketones in 2015 accounting for a share of XX % in North America . North America leads the bio-PEEK market globally owing to the huge demand for bio-based products from the end-user industries .
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