Global Ketone Resin Market is valued approximately USD 101.7 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 3.90% over the forecast period 2020-2027. Ketone resin, also known as polyketone resin, aldehyde-ketone resin or ketone-aldehyde resin. Ketone Resin is the condensation of cyclohexanone and formaldehyde containing carbonyl and hydroxyl groups, neutral non-toxic hard resin. Ketone resin is colorless and light-yellow transparent articles, with good solubility, except aliphatic solvent, and can dissolve in almost solvent of inks, pigments industry. ketones resin can be used with polyamide resin, nitrocellulose resin, and other raw materials to enhance the gloss of the system, adhesion, pigment wetting, printed and colored, and solid content. Therefore, it is gaining larger demand from various end use industries such as coating & painting, printing ink and paper industries etc. It is used as co-binders in paints, lacquers, printing inks and other inks and favorably increase the solid content and accelerates drying speed. It improves numerous properties of components on which it is applied and offers hardness and gloss to the product. Therefore, rapid growth in coating and painting industries is driving the growth of market over the forecast years. For instance: as per Statista, the global market value of paint & coating industry was USD 160.54 billion in 2017 and is expected to increase with USD 232.1 billion till 2027. Whereas, increasing application of ketone resin in automotive industries in coating and painting metal components of automotive is propelling the growth of market over the forecast years. However, Rising demand for environmentally compatible paints is hampering the growth of market over the forecast years.
The regional analysis of global Ketone Resin market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the surging food & beverages sector along with rising construction of both residential and commercial spaces. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in production & sale of automotive vehicles, along with the rapidly growing industrialization & infrastructure development projects in both urban & semi-urban provinces in the countries would create lucrative growth prospects for the Ketone Resin market across Asia-Pacific region.
Major market player included in this report are:
D.R.Coats Ink & Resins
Shree Mahadev Intermediates
Intech Synthetic Materials
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed informations about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
Coating and paints
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Ketone Resin Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.
Primary Research Sources: