COVID-19 Impact on Diethyl Ketone Market
- The COVID-19 outbreak hindered the demand for diethyl ketone in several ways. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for diethyl ketone.
- Major use of diethyl ketone is in the paints & coatings market. Many industries were affected due to lockdowns. The building and construction industry was severely affected during the lockdowns. Construction activities came to a halt, while property sales declined during the pandemic. This hampered the demand for paints in the construction industry, thus negatively affecting the global diethyl ketone market.
- The COVID-19 outbreak has directly affected production activities of different non-essential goods. Industrial shutdown caused by the COVID-19 pandemic created disruption in the production of diethyl ketone. Disruption in supply of raw materials also hampered full-scale operations of companies operating in the market.
Key Drivers of Diethyl Ketone Market
- The global diethyl ketone market is expected to be driven by the expansion of the paints & coatings industry. Diethyl ketone is used as a solvent in the paints & coatings industry. The paints & coatings industry is expected to expand at a fast pace in the near future due to the growth of the building & construction industry. Increase in demand for paints & coatings is likely to boost the diethyl ketone market during the forecast period.
- Diethyl ketone has application as an intermediate in pharmaceuticals and agrochemical industries. Rise in awareness about healthy lifestyle and growth of the pharmaceuticals industry due to the COVID-19 pandemic have boosted the demand for diethyl ketone. Demand for diethyl ketone in the agriculture industry has also increased. This is expected to drive the global diethyl ketone market.
Restraints of Diethyl Ketone Market
- Availability of alternatives can be a restraining factor for the diethyl ketone market. Many solvents and intermediates are available in the market. Thus, the presence of various substitutes is likely to hamper the global diethyl ketone market.
Asia Pacific to Constitute Significant Share of Global Diethyl Ketone Market
- In terms of region, the global diethyl ketone market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to offer significant opportunities for the diethyl alcohol market, due to the presence of rapidly growing building & construction industry as well as a prominent pharmaceutical industry in the region. Rise in usage of diethyl alcohol in paints and pharmaceuticals is projected to boost the diethyl alcohol market in the region during the forecast period.
- North America and Europe are also key consumers of diethyl alcohol. Customers in these regions are increasingly preferring different flavors and fragrances. Diethyl ketone is used in making fragrances and flavors. This is expected to drive the demand for diethyl ketone in the region in the near future.
Competitive Landscape of Global Diethyl Ketone Market
The global diethyl ketone market is highly diversified. Various small and medium players operate in the global diethyl ketone market. Some of the key market players are:
- BASF
- Triveni Interchem
- Honeywell
- Spectrum Chemical Mfg. Corp.
- Hanghai Pearlk Chemical Co. Ltd.
- Nanjing New Hope Chemical Co. Ltd.
Global Diethyl Ketone Market: Research Scope
Global Diethyl Ketone Market, by Product Type
Global Diethyl Ketone Market, by Application
- Solvent
- Intermediate
- Processing aid
- Others
Global Diethyl Ketone Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Diethyl Ketone Market Introduction
- Diethyl ketone, also known as 3-pentanone, is a simple, symmetrical dialkyl ketone. It is a colorless liquid and has an odor akin to acetone. It is also soluble in organic solvents and has application in various industries.
- Diethyl ketone is used as solvent in the paints & coatings industry. Diethyl ketone is also used as an intermediate in pharmaceuticals and pesticide industries. Diethyl ketone is also employed in the manufacture of different flavors and fragrances.
