Sales in the diketene market are projected to grow year-on-year at 4.1% in 2022. Increasing consumption of diketene in diverse applications such as pharma, agrochemicals, and others will boost the demand in the forecast period.
The global diketene market is projected to expand at a steady 4.7% CAGRduring the forecast period between 2022 and 2032, finds Future Market Insights (FMI). Diketene is primarily used in the manufacturing of a wide range of agrochemicals, pharmaceuticals & nutraceuticals drugs, pigments & dyes, and others.
Growing use and demand for diketene in the agrochemical industry is a major factor propelling the demand in the market. The demand for agrochemicals for intensive crop care is rising around the world.
Furthermore, expansion of pharmaceutical industry is increasing the adoption of diketene, boosting the market. In the pharmaceutical industry, diketene is used to make a variety of chemotherapeutic and antimicrobial products.
Diketene is also used in quantitative and qualitative drug analysis, and is used in the pharmaceutical industry. Hence, key players are expanding their global reach by building new manufacturing plants to boost production capacity while also strengthening their distribution networks.
To meet growing customer demand, the companies are also focusing on product development by investing in research and development to develop advanced and innovative technologies, solutions, and materials.
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As per FMI, the global diketene market is expected to dominated by East Asia Region and is predicted to continue during the forecast period. Diketene market in East Asia is projected to top US$ 205.6 Mnby 2032.
“Over the assessment period, sales of diketene are expected to be driven by the expansion of agrochemicals & pharma industry across the globe followed by surging application in pigments & dyes and others.” says an FMI analyst.
Key Takeaways:
Competitive Landscape
Key market participants of the diketene marketincludeEastman Chemical Company, Daicel Corporation, Ltd, Laxmi Organics Industries Limited., Mitsuboshi Chemical Co. Ltd, Jiangsu Tiancheng Biochemical Products Co. Ltd, Ningbo Wanglong Technology Co., Nantong Acetic Acid Chemical Co., Ltd., and others.
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Key diketene market participants are investing in high-growth regions such as East Asia and South Asia Pacific to expand their customer base. The market for diketene is highly concentrated, with only a few market players dominating the market.
Diketene Market by Category
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More Insights into the Global Diketene Market Report
In its latest report, FMI offers an unbiased analysis of the Global Diketene market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on derivative (diketene esters, arylamide, alkylamide, dihydroacetic acid (DHS) & salt, and others), by application (agrochemicals, pharmaceuticals & nutraceuticals, pigments & dyes and others) & by region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Mar 31, 2023
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