Diketene Market 2022 | Industry Outlook, Size, Share and Growth Analysis

According to Precision Business Insights (PBI), the latest report, the diketene market is expected to be valued at USD 423.2 Million in 2022, growing at a 4.9% CAGR from 2022 to 2028. The primary drivers of the expansion of the global diketene market include various applications in the agrochemical industry, development in the pharmaceutical industry, and a lot of business opportunities in the pigment and dyes industry.

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Agrochemical Industry to Dominate the Diketene Market:
Based on applications, the global diketene market is segmented into agrochemicals, pharmaceuticals & nutraceuticals, pigments & dyes, and others. The agrochemical industry is expected to account for a significant revenue share in the global diketene market, with a value share worldwide. The application of diketene and its derivatives in the agrochemical industry is boosting the overall market growth of the diketene market. The increasing amount of cultivation across all regions creates a global hike in demand for food. Diketene and its derivatives are used as pest and weed control agents, fertilizers, etc. Hence, the agrochemical sector is expected to maintain the growth of the global diketene market.

Asia Pacific Diketene Market:
The Asia Pacific market is expected to increase in the global diketene market over the forecast period. The Asia Specific region registered the highest CAGR in 2021. The Asia Pacific market is expanding as a result of the growing pharmaceutical industry and expanding agriculture sector. North America held considerable market share during the estimated period and is expected to dominate the global diketene market in the forecasted years. It is due to the well-developed healthcare and pharmaceutical sector and advanced agriculture system.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global diketene market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In June 2022, FMC India collaborates with Punjab Agricultural University for Science Leaders Scholarship Program

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The diketene market is segmented based on product type, application, and geography.
Based on the product type, the market is segmented into the following:
• Diketene Esters
• Arylamides
• Alkylamides
• Dihydroacetic Acid (DHS)
• Others

Based on the application, the market is segmented into the following:
• Agrochemicals
• Pharmaceuticals & Nutraceuticals
• Pigments & Dyes
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the diketene market report are Lonza Group AG, Synthetic Chemical Industry, The United Chemical Company, FMC Corporation, Eastman Chemical Company, Celanese Corporation Ltd., Hoechst AG Ltd., Teijin Shoji Co. Ltd, Daicel Chemical Industry, Huntsman Corporation Ltd., and Jubilant Ingrevia.

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This release was published on openPR.