Diketene Market size is expected to be valued at USD 423.2 Million in 2022, growing at a 4.9% CAGR from 2022 to 2028. Diketene is a colorless or light-colored liquid with a disagreeable odor. It causes irritation to the skin and eyes. Diketene derivatives are very important in various industries that are primarily used for the production of esters, acetoacetate amides, pigments, and dyestuff. Diketene derivatives are used for many applications such as agrochemicals, pharmaceuticals and nutraceuticals, and pigments and dyes. The growing agrichemical industry and the Pigments and Dyes Industry are key drivers for the growth of the diketene market. The global key players such as Lonza, Teijin Shoji, etc are continuously trying for strategic mergers and acquisitions in order to drive the global market growth. Increasing the application of diketene and diketene derivatives in various industries is the key potential for the global diketene market. The exponential development of the pharmaceutical industry worldwide after COVID-19 is the biggest driving factor that creates a lot of business opportunities in the global diketene market. Also, diketene and its derivatives are used as pest or weed control agents, and fertilizers in the agrochemical industry. Hence, the agrochemical industry will boost the global diketene market growth further in the forecasted years. North America is holding the major market share in 2022 and is expected to maintain growth in upcoming years due to the developed pharmaceutical industry.
Recent Market Developments:
In Feb 2022, Jubilant Ingrevia jumped on commissioning a new Diketene derivatives facility