Summary
Bio-ketones Market in Europe-Segmented by Product Type , By Application Industry , and Geography- Trends and Forecasts ( 2017-2022 ). Bio-ketones can be used for various applications such as paints and coatings , automobile , aerospace , infrastructure , pharmaceutical .
Description
The bio-ketones market in Europe 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 .
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 .
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Drivers for the bio-ketones market in Europe are :
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Depleting natural resources Demand from automobile industry Stringent government regulations
Restraints faced by the bio-ketones market in Europe are :
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Shortage of raw material Huge competition from fossil-fuel products
Europe accounts for XX . XX % of the global bio-ketones market in 2015 . The bio-ketones market in Germany will grow at a high rate during the forecast period owing to the huge demand from the automobile industry . The market also covers countries such as Spain , Italy , France , and others .
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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 .
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