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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