Global Diketene Derivatives Market – Overview
Diketene is a colorless or light colored liquid with non-hygroscopic properties. It is generally polymerized on standing. Diketene derivatives are important industrial intermediate that is primarily used for the production of esters and acetoacetate amides. These diketene derivatives are also used in the production of pigments and dyestuff. These are highly reactive building blocks that can be blended to develop a wide range of products.
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Global Diketene Derivatives Market – Notable Developments
Some of the notable developments in the global diketene derivatives market are given below:
- The key players in the market are focusing on entering into strategic mergers and acquisitions in order to maintain their brand value. In addition to this, some companies are expanding their production facilities.
- Recently, Eastman Chemical Company announced that it has expanded its production facility with an objective to cater to the increasing demand for diketene derivatives across diketene derivatives from different industries such as pigments, agrochemicals, and pharmaceuticals among others.
Some of the other leading players in the global diketene derivatives market include names such as Lonza, Teijin Shoji Co. Ltd., Celanese, FMC, UCC, and Synthetic Chemical Industry among others.
Global Diketene Derivatives Market – Drivers and Restraints
There are several factors that are helping to push the growth of the global diketene derivatives market to newer heights. One of the biggest driving factors for the growth of the global market has been exponential development of the pharmaceutical industry across the globe. More and more countries are exporting generic drugs and that has created huge business opportunities that has led to the growth of the market. For instance, in 2018 alone, the overall pharmaceutical exports from India were valued at US$17 mn.
Another driving factor for the growth of the diketene derivatives market has been the increasing demand from the agrochemical industries. Diketene derivatives find great application in the agrichemical industries in order to control pests and weeds and also for fertilizing the soil. The global food consumption levels rise, it has a direct impact on the overall food production and storage. Ultimately, it has helped in driving the development of the global diketene derivatives market.
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Global Diketene Derivatives Market – Geographical Outlook
The global diketene derivatives market has five key geographical segments as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among these, the global market is primarily dominated by North America. The growth of the regional market is due to a well-developed pharmaceutical industry coupled with swift drug approvals by the US FDA.
However, during the course of the given forecast period of 2019 to 2027, the Asia Pacific segment is expected to achieve the highest growth rate. This growth of the market is due to the presence of emerging economies such as India and China that want to develop their respective healthcare and pharmaceutical markets. These nations are trying to create favorable environment for the leading players in the global diketene derivatives market to set up their bases in the region. This is expected to create ample business opportunities for the leading players and ultimately help in the development of the diketene derivatives market in Asia Pacific. Moreover, the overall cost of production and labor is also low in these regions. This is very lucrative opportunity for the top diketene derivatives market companies. It has also helped in the growth of the market
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