Bio-ketones: Introduction

  • Bio-ketones are a type of organic compounds that possess important physiological properties. Bio-ketones are produced from bio-based raw materials. Thus, they are environment friendly. Bio-ketones are primarily used as solvents in the paints & coating sector. They are also used as preservatives. Furthermore, bio-ketones are utilized in hydraulic fluids.
  • Bio-ketones are low-cost, slow-evaporating, low-density mixture of ketone solvents. These are useful as retarder solvents for primers, coil coatings, maintenance coatings, and high-solid enamels. In these coatings, they improve gloss and leveling, reduce orange peel, minimize solvent popping, and help lower the volatile organic compounds (VOC) content. In many coatings, they can be used alone or blended with other solvents for better results.
  • Compared to other solvents in the same evaporation range, bio-ketones have good solvency for a wide range of resins including nitrocellulose, alkyds, polyesters, acrylics, epoxies, and some vinyl chloride/vinyl acetate copolymers
  • Bio-ketones are generally classified into bio MEK, bio PEEK, and bio-acetone. Bio-acetone is used as a renewable alternative to petroleum-based acetone. Acetone is the simplest and smallest ketone. It is a suitable solvent for many plastics and some synthetic fibers. It is also used for thinning polyester resins, cleaning tools, and dissolving two-part epoxies and superglue before they harden. It is used as one of the volatile components of some paints and varnishes.

Key Drivers and Restraints of Global Bio-ketones Market

  • Bio-ketones are used as solvents in the paints & coatings sector. Paints and coatings are primarily employed in construction and automotive industries. Expansion of the construction industry in developed as well as developing countries owing to increase in urbanization, technological advancements, and rise is disposable income of consumers is expected to drive the global bio-ketones market during the forecast period.
  • Growth in the automotive sector, due to increase in demand for electric vehicles across the globe, is estimated to boost the global bio-ketones market in the near future

Bio-ketones Market: Product Type Segment

  • In terms of product type, the global bio-ketones market can be segmented into bio MEK, bio PEEK, bio-acetone, and others
  • The bio PEEK segment is estimated to account for major share of the global bio-ketones market during the forecast period. Bio-PEEK is highly used in the automotive industry as a replacement of metals, as it helps lower automobile weight. This, in turn, leads to fuel efficiency. Increase in performance of engines, weight minimization of engine components, and growth in the automotive industry are boosting the bio PEEK segment.

Covid-19 Impact on Bio-ketones Market

  • Several governments and private sector businesses are operating on a limited capacity or have ceased operations completely due to the recent events surrounding the COVID-19 pandemic. Manufacturing activities across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. due to the Covid-19 pandemic. This is expected to hamper the bio-ketones market to some extent.
  • COVID-19 is adversely affecting the global economy in three major ways: hampering production and demand, supply chain and market disruption, and adverse economic impact on firms and financial markets

Asia Pacific to Dominate Bio-ketones Market

  • In terms of region, the global bio-ketones market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is anticipated to account for significant share of the global bio-ketones market during the forecast period owing to high demand for bio-ketones in China, India, and Japan. The bio-ketones market in China is expanding at a rapid pace owing to the high demand in the pharmaceutical industry in the country. Increase in demand for paints & coatings from the construction sector in China, India, Thailand, and Indonesia is estimated to boost the demand for bio-ketones in the near future.

Key Manufacturers Operating in Global Bio-ketones Market

The global bio-ketones market was highly fragmented in 2019. Major players have prominent presence in developing countries. Key manufacturers operating in the global bio-ketones market include:

  • LanzaTech
  • Greenchem Industries
  • Falcon Worldwide Chemical Inc.
  • Eastman Chemicals
  • Celanese Corporation
  • Bio Brands LLC
  • Genomatica
  • Solvay Speciality Polymers
  • AstaTech, Inc.
  • Rieke Metals, Inc.
  • BASF

Global Bio-ketones Market: Research Scope

Global Bio-ketones Market, by Product Type

  • Bio MEK
  • Bio PEEK
  • Bio-acetone
  • Others

Global Bio-ketones Market, by End-user

  • Paints & Coatings
  • Automobile
  • Building & Construction
  • Pharmaceutical
  • Others

Global Bio-ketones Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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