The global solketal industry was worth US$ 76.85 Billion in the year 2022 and is expected to reach US$ 108.4 Billion by the year 2032 at a CAGR of 3.5% between 2022 and 2032. The solketal market is expected to be catalyzed by the fact that biodiesel and biofuels are the future of the fuels vertical.
Another advantage of solketal is that it can reduce particulate matter emissions and enhance fuels’ oxygen stability. It is a known fact that biofuels are capable of reducing energy as well as greenhouse emissions linked with logistical operations. This is evident from the fact that the year 2018 witnessed 79 biodiesel production plants in the US operating at 78% capacity.
It’s a blatant truth that non-renewable energy reserves are getting depleted day after day. With the world looking upon renewable energy resources as a viable substitute, solketal is a good option. Though there are a few controversies regarding its other constituent, i.e. acetone, no concrete piece of information is available as of now. This confusion may restrain the market going forward, through short-term.
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Future Market Insights has walked through these facades with insights in its latest market study entitled ‘Solketal Market’ with its indigenous team of analysts and consultants doing the rounds through the 360-degree view. Both – macros and micros have been taken care of.
“With the fact that octane number of fuels could be increased via solketal, the global solketal market is slated to grow well in the years to come”, says an analyst from Future Market Insights.
Key Takeaways from Solketal Market
- North America holds the largest market share. This could be credited to the US leading the excessive promotion of biofuel production via numerous policies. Canada is also not behind. It has equally intensified the promotion of biofuels via Renewable Fuels Regulation apart from the local provincial policies.
- The Asia-Pacific is expected to witness steadiness in the solketal market with China being the major consumer.
- LATAM and MEA are expected to pick up the pace on the back of rising awareness herein in the years to come.
Competitive Arena
The key players in solketal market include
- GLACONCHEMIE GmbH
- Sigma Aldrich (Laboratory Grade)
- Fisher Scientific
- Loba Feinchemie AG
- TCI EUROPE N.V.
- Alfa Aesar
- CM Fine Chemical
- Abcr GmbH
- Suzhou Jinghua Chemical Co., Ltd.
- Yancheng Jinghua Chemical Co., Ltd.
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Key Segments Profiled in the Global Solketal Market
By Purity:
- 96-98%
- 98%
- >98%
By Application:
- Solvent
- Pharmaceutical intermediate
- Biofuel
- Others
By End Use Industry:
- Cosmetics and personal care
- Food and beverage industry
- Pharmaceutical Industry
- Chemical Manufacturing
- Paints and coatings
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
What does the Report cover?
- The research study is based on purity (96-98%, 98%, and >98%), by application (solvent, pharmaceutical intermediate, biofuel, and others), and by end-user industry (cosmetics and personal care, food and beverages industry, pharmaceutical industry, chemical manufacturing, paints, and coatings, and likewise).
- With rising demand for biodiesel and biofuel, the global solketal market is bound to reach a ‘new’ high in the years to come.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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