Press release
Ketone Based Solvents Market Insights, Size and Forecast 2018 to 2028
Ketone Based Solvents Market: Dynamics
Ketone based solvents are widely used in the paints and coating industry. Growing population and urbanization is the primary reason responsible for the growth of the construction and thus, the architectural coatings industry. This growth, in turn, is escalating the growth of the ketone based solvent market. Besides paints and coatings, ketone based solvents also find usage as contact cement solvents in the construction industry. Growing automotive and aerospace industry is leading to increasing use of protective coatings, which in turn, is boosting the ketone based solvent market. The growth of the chemical industry is also pushing the ketone based solvent market as ketone based solvents are used as process solvents in the chemical industry. However, growing regulations covering the use of ketone based solvents and development of safe and green alternatives are the two factors denting the ketone based solvent market.
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Ketone Based Solvents Market: Segmentation
The global ketone based solvents market is segmented on the basis of end use industries, application and type of ketone in the solvent.
The global ketone based solvent market can be segmented on the basis of type of ketone in the solvent into:
Acetone
Cyclohexanone
Methyl Ethyl Ketone
Methyl Isobutyl Ketone
Isophorone
Methyl Amyl Ketone
The global ketone based solvent market can be segmented on the basis of end use industries into:
Paints and Coatings
Plastic and rubber processing
Petroleum Refining
Cosmetics and personal care
Commercial Printing Inks
Others (Construction, Agrochemicals, Chemical Processing, Automotive and Aerospace)
The global ketone based solvent market can be segmented on the basis of applications into:
Coating
Wood coating
Protective coating
Architectural coating
Process solvents
Nail polish and remover
Cleaning solvents
Degreasers
Dewaxing agents
Adhesives
Ketone Based Solvent Market: Regional Outlook
The Asia Pacific region is estimated to be the dominant market for ketone based solvents because of rise in industrialization and growth in chemical, plastic and rubber industries. Countries, such as China and India, are witnessing remarkable growth in construction industry. The same is also true for Latin American countries, such as Brazil. Growing construction activity in these regions will push the growth of ketone based solvents in these regions. North America and Western Europe are matured markets for ketone based solvents and these regions are mainly focusing on bio based solvents because of green initiatives started by regulatory bodies. Countries in MEA and Africa are expected to be potential markets for ketone based solvents due to their growing applications in cosmetics and construction industry.
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Ketone Based Solvent Market: Key Participants
Key participants identified in the global ketone based solvent market include:
BASF SE
Dow Chemical Company
Sasol Solvents
Eastman Chemical Company
Celanese Corporation
Shell Chemicals
Solvay Chemicals
Exxon Mobil
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