Cyclic Ketones Market Trends

Growth Drivers

• High Demand in End User Sector - The compound cyclopentanone is the main driver for the cyclic ketones market as it has several applications in the synthesis of several chemical compounds in the pharmaceutical industry and its use as a flavoring chemical in the industry of perfumes and fragrances. During the projected period, growth in other end-use industries such as rubber products, pesticides, and increasing use in pharmaceuticals is expected to fuel cyclopentanone, due to which should benefit the cyclical ketone market.

• Integration of Sustainable Energy Goals - Various international business associations and government regulators have started drawing up time-bound targets to achieve the adoption of sustainable energy sources from biofuels due to the high use of depleting nonrenewable fossil fuels such as petrol, diesel, or gas which has caused worries about pollution. The development of new fuels that would be ideal energy sources for combustion engines, which could also lead to higher engine performance and a reduction in greenhouse gas emissions is being pursued by major players in the energy sector. Given that cyclic ketones are a biofuel with high resistance to auto dependence, which can further improve engine performance and reduce unhealthy emissions by future potential alternatives to petroleum-based fuels, this might be one of the possibilities for possible alternative fuel sources.

Challenges

• Fluctuation in Raw Material – The prices of raw materials used to produce cyclic ketones can fluctuate substantially that can impact the profitability of manufacturers. Furthermore, this is predicted to hamper the market expansion in the projected time period.

• Environmental Regulations are Expected to Pose Limitation on the Market Growth in the Upcoming Period

• High Production Cost is another Factor Hampering the Market Growth During the Estimated Period.