Diketene Market is likely to exhibit a value CAGR of 5% during the forecast period of 2020-2030

ESOMAR-certified firm Future Market Insights (FMI) has recently published an extensive study on the global diketene market. According to the study, diketene demand is set to grow at nearly 5% in 2021, with growing focus on health & wellness creating substantial opportunities.

The pharmaceutical industry has made prolific advances, interspersed with numerous technological innovations and breakthroughs in drug development. For instance, India is the leading global generic drug market, valued at over US 19.1 billion as of 2019. Thus, diketene manufacturers are increasing their presence across the Asian markets.

In addition to surging demand from pharma and nutraceutical segment, diketene sales are likely to receive a fillip from the dyes & pigments segment. According to FMI’s analysis, the global pigments and dyes industry was valued at nearly US$ 35 million in 2020. The industry uses a slew of products as raw materials, however, growing consumer concerns has led the industry to incorporate organic and natural raw materials. Diketene derivatives are widely used in the production of a number of organic pigments, and FMI estimates this channel to create substantial opportunity during the assessment period.

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Historical and Future Growth Projections

The global diketene market was valued at nearly US$ 318 Mn in 2015, with sales equating to US$ 381 Mn by 2019. The key factors for growth in demand were multi-pronged, however, increasing Diketene applications in healthcare and agriculture industry created a slew of opportunities for manufacturers.

Rapidly changing lifestyles, food habits and sleep cycles are compelling individuals to increase spending on healthcare and dietary supplements. Furthermore, growing demand for sustainable farming has accelerated uptake of organic chemicals which extensively use diketene derivatives. The future prospects remain bullish, with FMI’s analysis projecting a CAGR of 5% through 2030.

Key Takeaways
Global diketene market is likely to exhibit a value CAGR of 5% through 2030
Diketene esters to generate 73% of the overall revenue by derivative type across the forecast period
By application, pharmaceuticals & nutraceuticals to acquire 170 BPS, generating over 40% revenue share
China is expected to emerge as a potential investment hotspot, owing to maximum proliferation of chemical manufacturers
“Favorable investment policies combined with extensive uptake to manufacture enhanced pharmaceutical and nutraceutical products in the wake of a rapidly exploding population is opening up growth avenues across East Asia,” concludes the FMI analyst.

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Heightening Demand for Agrochemicals to Drive Diketene Demand

The Food and Agriculture Organization estimates that world population is expected to surpass the 9 billion mark by 2050, thus stimulating greater demand for food crops. Furthermore, income levels will be multiples of what their current levels are, attributed to increased prevalence of urbanization. Food production, therefore, will have to increase by 70%.

Due to the exponentially rising population, food demand is being far outpaced, ushering in immense shortages across the developing countries. Consequently, agriculturists and farmers are increasing adoption of agrochemicals to increase output and address scarcity problems, leading to a significant upsurge in the market.

Players such as the Eastman Chemical Company are active in the agrochemicals segment, manufacturing a range of diketene based substances, including intermediaries, neutralizing agents, catalysts and solvents, such as dimethylamine 40% aqueous solution, benzyl dimethylamine and dimethylamine 60% aqueous solution respectively.

Competitive Landscape
Prominent players operating in the global diketene market landscape include Lonza, Eastman Chemical Company, Daicel Corporation, Laxmi Organic Industries Ltd., Mitsubishi Chemical Co. Ltd., Zhang Jiagang Hope Chemicals Co. Ltd., Nantong Acetic Acid Chemical Co. Ltd., Ningbo Wanglong Technology Co., Jubilant Life Sciences Ltd. and Toronto Research Chemicals.

Strengthening business foundations for ensuring sustainable growth is a primary strategy deployed by these players to remain afloat in the market. For this, they emphasize on maximizing profitability from existing product portfolios by undertaking significant cost reductions, enhancing cash flows and expanding investment volumes.

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More Insights on FMI’s Diketene Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global diketene, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the diketene on the basis of derivative (diketene esters, arylamides, alkylamides, dihydroacetic acid & salt (DHS) & others) and application (agrochemicals, pharmaceuticals & nutraceuticals, pigments & dyes and others) across six major regions.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.