Rising Preference for Aesthetic Products in Housing Projects to Benefit Ketene Derivatives Market

COVID-19 Impact on Ketene Derivatives Market

The COVID-19 outbreak hindered the demand for ketene derivatives in several ways. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for ketene derivatives.

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Most of the industries were affected negatively due to the COVID-19 pandemic. However, end-use sectors for ketene derivatives, such as agrochemical and pharmaceutical, were functioning well. There was a rise in in API units to support increasing demand in the pharmaceutical sector. The agrochemical sector was also generating continuous demand for ketene derivatives.

The COVID-19 outbreak directly affected the production and demand for ketene derivatives. The pandemic interrupted the supply chain of ketene derivatives.

Restraints of Ketene Derivatives Market

Toxic nature of ketene derivatives can hinder the growth of the ketene derivative market. Ketene causes eye, nose, and throat irritation when someone comes in contact with it. Such health effects can affect the growth of the ketene derivative market.

Asia Pacific to Constitute Significant Share of Global Ketene Derivatives Market

In terms of region, the global ketene derivatives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America and Europe are key consumers of ketene derivatives. The market in North America and Europe is anticipated to maintain moderate pace in the near future owing to already advanced chemical and agrochemical industries in the region.

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Asia Pacific is projected to offer significant opportunities for the ketene derivatives market, due to the growth of the chemical industry in the region. Domination of the pharmaceutical industry in India can lead to increased consumption of ketene derivatives in the region.

Competitive Landscape of Global Ketene Derivatives Market

The global ketene derivative market is highly fragmented. Many global players operate in the market from different regions. Some of the key players are as follows:

Nantong Acetic Acid

Ningbo Wanglong

Xinhua Pharmaceuticals

Daicel

Mitsubishi Chemicals

Eastman Chemicals

Laxmi Organic Industries

Anhui Jinhe Industrial

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Global Ketene Derivatives Market: Research Scope

Global Ketene Derivatives Market, by Product Type

Diketene Esters

Arylamides

Alkylamides

Dihydroacetic Acid

Others

Global Ketene Derivatives Market, by Application

Agrochemicals

Pharmaceuticals & Nutraceuticals

Pigments & Dyes

Others

Key Drivers of Ketene Derivatives Market

The ketene derivatives market is driven by the rising demand for these derivatives in the agrochemical industry. The agrochemical industry has been expanding due to the increase in demand for food. Increasing population and decreasing cultivating land are boosting the demand for food, thus resulting in growth in usage of agrochemicals. Agrochemicals are used to prevent diseases, pests, and weeds. They also help increase the fertility of the soil. Growth of the agrochemical industry is expected to drive the ketene derivatives market.

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Growth of the pharmaceutical industry during the COVID-19 pandemic is one of the factors boosting the ketene derivatives industry. Ketene derivatives are used in manufacture of various pharmaceutical chemicals, which are used to produce drugs such as aspirin.

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