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Ketene and Ketone Market

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  • 110 Pages
  • May 2021
  • Region: Global
  • IndustryARC
  • ID: 3974149

Ketene and Ketone Market Overview

Ketene and ketone market size is forecast to reach US$1.5 billion by 2027, after growing at a CAGR of 4.5% during 2022-2027. Ethonone, also known as ketene, is an unsaturated ketone that can be made through an elimination reaction with acyl chlorides. Globally, the expanding demand for organic compounds such as ketene and ketone for use in paints, pharmaceuticals, and plastics and rising demand for chemotherapy are the primary drivers for the market growth. In addition, the growing demand for new applications, such as the rise in the consumption of convenience food, is projected to drive the growth of the ketene and ketone market. However, the higher research and development cost and hazardous side effects to health are the key restraints for the ketene and ketone market.

COVID-19 Impact

The COVID-19 outbreak widely affected the industrial, healthcare, and transportation industries over the year 2020. The production process of various goods in these industries declined due to the non-functioning of the manufacturing plants. Globally, the industrial sector is badly hit. The domestic sales and export of various chemical products such as unsaturated ketones have also witnessed a halt during the COVID-19 outbreak. Business communities even faced several issues related to supply chain disturbance and other factors. Moreover, the chemical industry remained stagnant due to less demand from transportation and various plants sectors. Thus, affecting the overall growth of the ketene and ketone market.

Report Coverage

The report: Ketene and Ketone Market - Forecast (2022-2027) by IndustryARC covers an in-depth analysis of the following segments of the ketene and ketone market.

By Ketene Type: Carbon Substituted Ketenes, Oxygen Substituted Ketenes, Nitrogen Substituted Ketenes, Halogen Substituted Ketenes, Phosphorous, sulfur, metal-substituted and bis ketenes, Silyl-ketenes, Monosubstituted Ketenes, and Others

By Ketone Type: Ketone Salts, Ketone Esters, Ketone Oils, Raspberry Ketones, and Others

By Form: Solid, Liquid, and Gas

By Packaging Type: Drums, Bag, Container, Bottle, and Others

By Application: Medical Dyes, Drugs, Food Flavor, Papers, Plastics, Perfumes, Paints and varnishes, Synthetic fibers (Polyester, Nylon, and Others), Films, Surfactants, Soldering fluxes, and Others

By End-Use Industry: Healthcare, Textile & Apparel, Food & Beverage, Packaging, Industrial (Manufacturing Plants, Industrial Plants, Warehouses, and Others), Electrical and Electronics, Transportation (Aerospace, Marine, and Automotive), Personal Care & Cosmetics, and Others

By Geography: North America (U.S.A., Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of A.P.A.C.), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East and Africa)

Key Takeaways

  • North America dominates the ketene and ketone market owing to the increasing investments in the industrial sector. For instance, according to the Bureau of Economic Analysis (B.E.A.), in 2020, the U.S. direct investment abroad position, or cumulative level of investment, increased US$244.9 billion to US$6.15 trillion from US$5.91 trillion in 2019.
  • Rapidly rising demand for fashion clothing with an increase in the production of synthetic fibers is estimated to drive the growth of the ketene and ketone market.
  • The growing demand for paints and varnishes in the commercial sector will act as a critical factor driving the growth of the ketene and ketone market in the upcoming years.
  • However, rising health effects due to the excessive use of ketene and ketone as supplements can hinder the growth of the ketene and ketone market.

Due to the recent application of catalytic, enantioselective reactions, the silyl-ketenes segment held the largest market share in the ketene and ketone market in 2020. Unlike unstable alkyl and aryl ketones, silyl-substituted ketenes are stable and easy to store, and therefore they are attractive molecular building blocks. Also, silyl-ketenes can function as an electrophile, neutrophile, or component in cycloaddition and annulation processes. Thus, with the rising demand for the silyl-ketenes segment, the market growth for ketene and ketone is expected to rise in the forecast period.

The ketone salts segment held the largest share in the ketene and ketone market in 2020. Ketone salts are naturally derived compounds that help to improve absorption of the already existing body ketones. As compared to ketone esters, ketone salts are inexpensive, and their extraction procedures are more accessible. The production of an organic compound such as ketone esters has been started by few companies, comprising high capital investments such as H.V.M.N. and ketoneaid. Ketone salts are used to correct central nervous system (C.N.S.) disorders, generating rapid and sustained nutritional ketosis and metabolic changes. Also, ketone salts are known to elevate the blood levels of the ketone bodies. Thus, with the rising demand for economic salt supplements, the market growth for ketene and ketone is expected to rise in the forecast period.

The drum segment held the largest share in the ketene and ketone market in 2020. For safe shipping and storage of bulk chemicals, which can be hazardous, cylindrical containers known as drums are excessively used. Bottles also find usage for the same purpose but are difficult to be cleaned compared to the drums. Chemical storage drums are typically made up of plastics, fiber, or steel. Polyethylene drums, made with high-density polyethylene (H.D.P.E.), are industrial-grade containers. These plastic drums are light-weighted and are inexpensive in comparison to drums made up of steel. Thus, making drum a chosen packaging for safe storage and transportation of industrial chemicals is driving the market growth.

The paints and varnishes segment held the largest share in the ketene and ketone market in 2020. Ketone is known for its unique properties, such as dissolution performance and volatility rate, which improve the coating flow property and mechanical strength. Also, the increasing usage of methyl ethyl ketone causes reduced pollution to the environment, thus, making M.E.K. an ideal solvent in the coatings industry. In the industrial or commercial sectors, ketene and ketone can be used in paints for manufacturing plants, airplane hangars, hospitals, commercial and retail stores, showrooms, garages, and others. With the rising construction activities, the demand for paints and varnishes will increase, driving the market growth. For instance, Larsen & Toubro, in India, in 2019, won contracts for building hospitals, commercial complexes, and manufacturing capacity. The orders range between 2,500 crores (US$ 336.6 million) to 5000 crores (US$ 673.2 million), falling under the large category. Thus, such investments will drive the demand for paints and varnishes applications in the industrial sector and raise the market's growth over the forecast period.

The industrial segment held the largest share in the ketene and ketone market in 2020 and is expected to grow at a CAGR of 5.2% during 2022-2027. In the industrial segment, ketene and ketone find usage in numerous applications such as in varnishes, paints, adhesives, and others. With the rising industrial segment activities, the demand for organic compounds such as ketene and ketone is also growing. The industrial segment activities are increasing rapidly in emerging economies such as India, United States, China, and other countries. According to Invest India, by 2025, the manufacturing sector is expected to reach US$ 1 trillion. Also, by 2023, the government approved the establishment of 16 plants, with a total investment of Rs. 348.70 crore (US$ 47.01 million). Thus, with the growth of the industrial sector, the market growth for ketene and ketone will further rise over the forecast period.

North America dominated the ketene and ketone market with a share of 35% in 2020, owing to increasing health issues and modernization of healthcare infrastructure in this region. In the healthcare sector, drugs and medical dyes are manufactured using ketene and ketone. Rapidly rising According to the Pharmaceutical Research and Manufacturers Association (PhRMA), in the U.S., R&D in pharmaceuticals stood at US$ 75 billion, about more than half of the world's R&D, and also acquire a hold on the intellectual property rights on most of the new medicines. In the U.S., the application of ketone salts is increasing as a dietary supplement, specifically among the younger population and athletes. Companies are focusing on improving the production of ketones to fulfill their growing demand. Further, the sales of ketone salts remain high due to their usage in weight loss diets. Ketene and ketone are also excessively used in paints, plastics, films, and rigorously in the paper and perfume industries. The installation of new plants acts as the driver for the market growth of ketene and ketone. Rising government investment in drug manufacturing, R&D activities, and other sectors such as paper and perfume, is predicted to uplift the region's ketene and ketone market growth.

Ketene and Ketone Market Drivers

Increasing Demand for Supplements

The increasing demand for ketenes and ketones in supplements to lower blood sugar and burn body ketones for fuel to boost energy, which is advantageous for athletes, is significant in increasing the demand for ketenes and ketones among individuals. Moreover, the need for ketone supplements for weight loss is overgrowing, widely useful in keto diets as ketone salts, esters, raspberry, and others. Ketone esters are gaining popularity due to their qualities to lower blood sugar and burn body ketones for fuel to boost energy, which is advantageous for athletes. For instance, in 2019, Ketologie launched a new supplement to support keto diets, boost ketone levels in the body while supporting gut health. Thus, increasing demand for supplements will require more ketone derivatives, which will drive the ketene and ketone market during the forecast period.

Rising Usage of Ketene and Ketone in the Textile and Apparel Industry

The textile industry uses ketene and ketone on a vast scale for manufacturing synthetic fibers. Ketene and ketone are increasingly being used as solvents in the textile and apparel industry, driving the market growth. The clothing application segment has led the market due to the ever-changing fashion trends influencing the demand for clothing worldwide. In addition, industry producers are increasing their product range by launching innovative quality items in many variations to suit consumers' expectations, coupled with the growing awareness among individuals about excellent and new clothing styles. Furthermore, with the expanding textile and apparel industry, the demand for ketenes and ketones will also rise over the forecast period. For instance, according to the report 'Technical Textiles: Emerging Opportunities and Investments' released by the Federation of Indian Chambers of Commerce and Industry (F.I.C.C.), the Indian technical textile market is expected to expand by US$ 23.3 billion by 2027. Thus, the rising demand for organic compounds such as ketene and ketone in the clothing sector is estimated to drive market growth.

Ketene and Ketone Market Challenges

Rising Toxicity and Side-Effects of Ketene and Ketone Will Hamper the Market Growth

Ketene is known as a toxic compound and an irritant. It is susceptible to cause delayed respiratory damage. Moreover, the use of ketone and ketene to produce heroin and manufacture improvised explosive devices (I.E.D.s) has led to its prohibition in several countries. Additionally, excessive ketones in the form of supplements may cause low blood glucose, hypertension, kidney stones, osteoporosis, and increased blood levels of uric acid. Thus, increasing health effects and unintended use with the rising usage of ketene and ketone will create hurdles for the market's growth.

Ketene and Ketone Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies players adopt in the ketene and ketone markets. Major players in the ketene and ketone market include:

1) Panjin Zhongrun High-Performance Polymers Co. Ltd.
2. Quadrant EPP Surlon India Ltd.
3. Prototype & Plastic Mold Co. Inc.
4. Lonza Group
5. Kemira Oyj
6. Tri-Town Precision Plastics
7. A. Schulman AG
8. J.K. Overseas
9. Stern Industries Inc.
10. Daicel Corporation and Others

Acquisitions/Technology Launches

  • In June 2019, LifeSense Products launched their newest product, fully domestically-produced B.H.B. Exogenous Ketones Salts

This product will be delivered within 2 business days.

Table of Contents

1. Ketene and Ketone Market- Market Overview
1.1 Definitions and Scope
2. Ketene and Ketone Market - Executive Summary
2.1 Key Trends by Ketene Type
2.2 Key Trends by Ketone Type
2.3 Key Trends by Form
2.4 Key Trends by Packaging Type
2.5 Key Trends by Application
2.6 Key Trends by End Use Industry
2.7 Key Trends by Geography
3. Ketene and Ketone Market - Comparative analysis
3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Ketene and Ketone Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Porters Five Force Model
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Powers of Buyers
4.3.3 Threat of New Entrants
4.3.4 Competitive Rivalry
4.3.5 Threat of Substitutes
5. Ketene and Ketone Market - Strategic Analysis
5.1 Value/Supply Chain Analysis
5.2 Opportunity Analysis
5.3 Product/Market Life Cycle
5.4 Distributor Analysis - Major Companies
6. Ketene and Ketone Market - By Ketene Type (Market Size - US$ Million/Billion)
6.1 Carbon Substituted Ketenes
6.2 Oxygen Substituted Ketenes
6.3 Nitrogen Substituted Ketenes
6.4 Halogen Substituted Ketenes
6.5 Phosphorous, sulfur, metal-substituted and bis ketenes
6.6 Silyl-ketenes
6.7 Monosubstituted Ketenes
6.8 Others
7. Ketene and Ketone Market - By Ketone Type (Market Size - US$ Million/Billion)
7.1 Ketone Salts
7.2 Ketone Esters
7.3 Ketone Oils
7.4 Raspberry Ketones
7.5 Others
8. Ketene and Ketone Market - By Form (Market Size - US$ Million/Billion)
8.1 Solid
8.2 Liquid
8.3 Gas
9. Ketene and Ketone Market - By Packaging Type (Market Size - US$ Million/Billion)
9.1 Drums
9.2 Bag
9.3 Container
9.4 Bottle
9.5 Others
10. Ketene and Ketone Market - By Application (Market Size - US$ Million/Billion)
10.1 Medical Dyes
10.2 Drugs
10.3 Food Flavor
10.4 Papers
10.5 Plastics
10.6 Perfumes
10.7 Paints and varnishes
10.8 Synthetic fibers
10.8.1 Polyester
10.8.2 Nylon
10.8.3 Others
10.9 Films
10.10 Surfactants
10.11 Soldering fluxes
10.12 Others
11. Ketene and Ketone Market - By End-Use Industry (Market Size - US$ Million/Billion)
11.1 Healthcare
11.2 Textile & Apparel
11.3 Food & Beverage
11.4 Packaging
11.5 Industrial
11.5.1 Manufacturing Plants
11.5.2 Industrial Plants
11.5.3 Warehouses
11.5.4 Others
11.6 Electrical and Electronics
11.7 Transportation
11.7.1 Aerospace
11.7.2 Marine
11.7.3 Automotive Passenger Cars Light Commercial Vehicles Heavy commercial Vehicle
11.7.4 Others
11.8 Personal Care & Cosmetics
11.9 Others
12. Ketene and Ketone Market - By Geography (Market Size - US$ Million/Billion)
12.1 North America
12.1.1 USA
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 UK
12.2.2 Germany
12.2.3 France
12.2.4 Italy
12.2.5 Netherlands
12.2.6 Spain
12.2.7 Russia
12.2.8 Belgium
12.2.9 Rest of Europe
12.3 Asia-Pacific
12.3.1 China
12.3.2 Japan
12.3.3 India
12.3.4 South Korea
12.3.5 Australia and New Zeeland
12.3.6 Indonesia
12.3.7 Taiwan
12.3.8 Malaysia
12.3.9 Rest of APAC
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Colombia
12.4.4 Chile
12.4.5 Rest of South America
12.5 Rest of the World
12.5.1 Middle East Saudi Arabia UAE Israel Rest of the Middle East
12.5.2 Africa South Africa Nigeria Rest of Africa
13. Ketene and Ketone Market - Entropy
13.1 New Product Launches
13.2 M&As, Collaborations, JVs and Partnerships
14. Ketene and Ketone Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10 and more
*Financials would be provided on a best efforts basis for private companies