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Shortage of Non-renewable Resources to Drive Growth in Global Bio-ketones Market: TechNavio

Published on 2015-02-03. Author : SpecialChem

Scarcity of non-renewable resources like crude oil will drive growth in the Global Bio-ketones Market, which is expected to post a CAGR of 6.86 percent from 2014-2019, says research firm TechNavio.

About the Report

Bio-ketones are environment-friendly organic compounds that are produced from bio-based raw materials. They are used as solvents in the paints and coatings sector, as preservatives, and in hydraulic fluids.

The latest report by TechNavio focuses on bio-based chemicals, which are replacing traditional petroleum-based chemicals because of rising oil prices. It is estimated that in the coming years crude oil reserves will be depleted, resulting in major supply constraints of basic raw materials required for chemical production.

“Large reserves of bio-based feedstock are expected to be available in the coming years, especially in the APAC region, because the raw materials are renewable and the products can be used more than once,” says Faisal Ghaus, Vice President of TechNavio.

The TechNavio report also pinpoints demand from the auto industry as a major factor contributing to market growth. Environment-friendly chemicals such as PEEK, a lightweight and high-strength material, are finding increased use in the automobile sector to improve fuel efficiency. This will help drive uptake of bio-ketones over the projected period.

Key Information Covered in the Report:

Market segmentation, size and forecast through 2019

Market Growth Drivers:

• Scarcity of Non-renewable Resources

Market Challenges:

• Limited Availability of Raw Materials

Market Trends:

• Increased Demand from Emerging Economies

Key Vendors:

• Eastman Chemical Company
• Solvay Specialty Polymers USA, LLC

Other Prominent Vendors:

• AstaTech
• Celanese
• Falcon Worldwide Chemical
• Greenchem Industries

About TechNavio

TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on organic products- Natural and Organic Personal Care Product Market in the US 2014-2018 and Natural and Organic Food Market in the US 2014-2018

Source: TechNavio

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