Summary
Bio-ketones Market in South America-Segmented by Product Type, By Application Industry, and Geography-Trends and Forecasts( 2017-2022). 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.
Description
The bio-ketones market in South 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-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 Bio-ketone Market in South America: Drivers:
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Depleting natural resources Demand from aerospace industry Stringent government regulations
Restraints:
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Shortage of raw material Huge competition from fossil-fuel products
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Brazil leads the bio-ketones market in South America in 2015 accounting for a share of XX %. The bioketones market in Brazil will grow at a high rate during the forecast period owing to the upcoming investments by existing players in the market in the country.
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