Transparency Market Research in its new report titled, “Diketene Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the diketene market. The TMR report anticipates that the rise in applications in pharmaceutical and pigment industries will drive the diketene market during the forecast period i.e, 2018-2026.
Diketene is used as an intermediate in the manufacture of pharmaceuticals, insecticides, and dyes. For example, pyrazolones are formed from substituted phenylhydrazines. Earlier, they were used as analgesics, but are now largely obsolete. With methylamine, diketene reacts to N,N’-dimethylacetoacetamide, which is chlorinated with sulfuryl chloride and reacted with trimethyl phosphite to the highly toxic insecticide monocrotophos. Diketenes react with substituted aromatic amines to form acetoacetanilides, which are important precursors for mostly yellow, orange or red azo dyes and azo pigments. Growth in other industries such as paints and agrochemical is also anticipated to boost the demand for diketene in the near future.
According to TMR report, ill-effects of diketene on human health is one of key factors hampering the market. It is a strong irritant to eyes, nose, and throat. Inhalation of diketene causes respiratory tract infection and irritation. It can be harmful if swallowed or absorbed by the skin, thereby causing skin irritation. Furthermore, increase in prices of the chemical acts as a restraining factor. For instance, Eastman Chemical Company is increasing prices of its products, due to the rise in operating costs, especially raw material costs.
Based on regional perspective, the diketene market is split into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among these, North America is a dominant region of the market, followed by Europe and Asia Pacific. North America is estimated to account for large share of the global diketene market, owing to the growth in the pharmaceutical industry in countries such as the U.S. and Canada. Due to the modern lifestyles of the people the western region people are getting inclined towards junk foods, which leads to the health issues. This, in turn, is driving the pharmaceutical industry in North America and Europe. Demand for diketene has been rising in Asia Pacific due to the expansion in the pigments industry in the region. Countries such as China, India, and Japan are driving the market in in Asia Pacific owing to the presence of large number of manufacturing facilities in these countries.
Major players operating in the diketene market are profiled in this report to give a better competitibe analysis and these include Lonza, Synthetic Chemical Industry, UCC, FMC, Hoechst, and Daicel Chemical Industry.
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