Market players are focusing on fortifying business foundations for ascertaining sustainable expansion to remain afloat in the market.
DUBAI, UAE / ACCESSWIRE / January 13, 2021 / The key aspects for rise in demand for diketene were multi-pronged, however, growing Diketene applications in agriculture and healthcare industry generated a slew of prospects for producers. Moreover, increasing demand for sustainable farming has augmented consumption of organic chemicals which broadly utilize diketene derivatives. The future projections for the global diketene market is likely to remain bullish, with FMI's analysis foreseeing a CAGR of 5% over the assessment period, 2020-2030.
'Growing production of paints and coatings, pesticides, vitamins, and medicines, amid others, has ensued in a drastic increment in the demand for diketene derivatives, which are utilized as intermediates in their manufacturing. This describes the projected higher growth of the diketene derivatives market amid the projected period.' states the FMI analyst.
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Diketene Market - Important Highlights
- The pigments & dyes sector is anticipated to expand impressively in the forthcoming years.
- China remains the prime contributor to the global market for diketene, providing an extensive range of derivatives.
- diketene esters are anticipated to remain dominant, due to widespread application all over pharmaceutical products & agrochemicals respectively, majorly as intermediaries.
- Pharmaceuticals and nutraceuticals sector is slated to generate more than two-fifth of the overall revenue by 2030 end.
Diketene Market - Drivers
- Increasing use and demand in the agrochemical sectors is driving the sales of the diketene.
- Flourish pharmaceutical industries across the globe is anticipated to impel the market growth.
- Sturdy expansion in the pigment sector owing to emergence of novel printing technology in the developed nations will boost demand for diketene market
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Diketene Market - Restraints
- Health issues such as strong irritant to the throat, nose, and eyes associated to diketene is hindering the growth of the market.
- Rise in operating costs, particularly raw material costs acts as a constraining aspect for the market growth.
COVID-19 Impact on Diketene Market
The onset of COVID-19 pandemic has negatively impacted the diketene market. As precautionary measures governments all over the world have imposed lockdown and border closure owing to which agricultural activities such as export and import of agrochemicals have notably fallen and is hindering the diketene market expansion. Furthermore, with rising cases of new strain of UK COVID-19, the manufacturing in these sectors are impacting to encounter difficulties for instance untimely deliveries of diketene derivatives. Owing to all these aspects, the diketene market is impacted amid the crisis.
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The global diketene market is characterized by the existence of several global and regional level producer. About half to 3/5th of the overall market share is accounted for by the prominent market players.
Key players identified in the market are Eastman Chemical Company, Lonza, Daicel Corporation, Mitsubishi Chemical Co. Ltd., Laxmi Organic Industries Ltd., Zhang Jiagang Hope Chemicals Co. Ltd., Ningbo Wanglong Technology Co., Nantong Acetic Acid Chemical Co. Ltd., Toronto Research Chemicals and Jubilant Life Sciences Ltd.
About the Study
The study offers readers a comprehensive assessment of the diketene market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of derivative (diketene esters, arylamides, alkylamides, dihydroacetic acid & salt (DHS) and others), application (agrochemicals, pharmaceuticals & nutraceuticals, pigments & dyes and others) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
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