Solketal market size is valued at USD 108.4 billion by 2028 and is expected to grow at a rate of 3.50% for the forecast period of 2021 to 2028. Data Bridge Market Research report on solketal market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Solketal is also termed as isopropylidene glycerin and is categorized under glycerin and glycerin derivative. Solketal has large potential to be used as additive to develop biodiesel properties. It has been broadly used for mono, di, and tri esters' organic synthesis and known as a green industrial solvent preservative in biofuels and gasoline.
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The solketal market is anticipated to witness tremendous growth in the forecast period which is attributed to the increasing demand for biofuels and biodiesel. Also the feasible fuel markets have witnessed a progressively escalating demand for solketal as a fuel additive, as it can be used to decrease particulate matter emissions and advance the flow properties of transportation fuels which is also boosting scope for solketal application and is acting as a key determinant favoring the growth of the market over the forecast period of 2021 to 2028.
The major factor accountable for the growth of the market is that solketal is also being used to boost the octane number of the fuels. Besides this, the increasing demand for its use as chemical intermediate to synthesize benzyl solketal ether is also flourishing the target market's growth. The strict regulations pertaining to the use of bio fuels and additives are also raising the product demand and enhancing the growth of the solketal market. Furthermore, the solketal also improves the oxygen constancy of fuels, and increases the octane number of gasoline and considerably decreases gum configuration along a vehicle's fuel lining thus flourishing the growth of the solketal market in the above mentioned forecast period. However, the solketal market has faced a large number of challenges in regards to the usage of acetone in its synthesis. Although solketal is applied in a number of applications as biofuels, various controversies are adjoining its other constituent. Glycerol is largely derived from biological origin but the other feedstock, specifically acetone, is commercially attained from the petrochemical processes. This may act as a critical restraint towards solketal market growth rate in the forecast period of 2021 to 2028.
Competitive Landscape and Solketal Market Share Analysis
Solketal market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solketal market.
The major players covered in the solketal market report are GLACONCHEMIE GmbH, Merck KGaA, Solvay, Thermo Fisher Scientific, Suzhou ChonTech BioPharma Co., Ltd., TCI Chemicals (India) Pvt. Ltd., Avera Chemicals Inc., CHEMOS GmbH & Co. KG, HANGZHOU ICH BIOFARM CO. LTD., CM Fine Chemical, LOBA Feinchemie GmbH, TOCOPHARM CO, LTD., and abcr GmbH, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Global Solketal Market Scope and Market Size
Solketal market is segmented on the basis of purity, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of purity, the solketal market is segmented into 96-98%, 98% and >98%.
- On the basis of application, the solketal market is segmented into solvent, biofuel, pharmaceutical intermediate and others.
- The end user segment for solketal market is segmented into cosmetics and personal care, food and beverage industry, pharmaceutical industry, chemical manufacturing, paints and coatings and others.
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Furthermore, owing to growing awareness for the development and the positive role played by energy-efficient technology, biofuels are expected to grow in popularity which will further offer a variety of growth opportunities for the solketal market in the above mentioned forecast period.
This solketal market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on solketal market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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