PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1625251
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1625251
Solketal Market Forecasts to 2030 - Global Analysis By Purity (96-97%, 98% and >98%), Application, End User and By Geography
According to Stratistics MRC, the Global Solketal Market is accounted for $86.01 million in 2024 and is expected to reach $116.39 million by 2030 growing at a CAGR of 5.2% during the forecast period. Solketal, or isopropylidene glycerol, is a cyclic acetyl formed by the reaction of glycerol with acetone. It is a colorless, biodegradable, and low-toxicity compound used primarily as a solvent, plasticizer, and fuel additive. Solketal improves fuel properties like oxidation stability and reduces particulate emissions in biodiesel. It is also used in pharmaceuticals, cosmetics, and as an intermediate in chemical synthesis. Solketal's renewable nature and versatility make it valuable in industries aiming for sustainable and green solutions.
Market Dynamics:
Driver:
Growing biodiesel industry
The growing biodiesel, derived from renewable sources, often faces performance issues like low stability and viscosity, which solketal effectively addresses. Solketal enhances fuel properties by reducing particulate emissions, ensuring cleaner combustion, and extending engine life. With the global shift toward sustainable energy solutions, the rising demand for high-quality biofuels accelerates solketal adoption. Moreover, solketal is produced from glycerol, a by-product of biodiesel production, creating a sustainable and cost-effective circular economy. This synergy between biodiesel production and solketal demand is propelling market growth worldwide.
Restraint:
Raw material availability
Glycerol production heavily relies on biodiesel manufacturing, which fluctuates with the demand for renewable fuels, creating supply inconsistencies. Additionally, competition for glycerol in other industries, such as cosmetics and pharmaceuticals, further restricts its availability for Solketal production. This raw material scarcity increases production costs, impacting market growth and profitability. Geographic concentration of glycerol suppliers also poses logistical challenges, leading to supply chain disruptions. Consequently, limited and inconsistent raw material availability remains a significant hindrance to the expansion of the market.
Opportunity:
Increasing regulations on emissions
Governments worldwide are enforcing stricter environmental policies to limit carbon footprints and air pollution. Solketal enhances fuel performance by reducing particulate emissions and improving fuel efficiency, aligning with these new regulatory standards. Industries, particularly automotive and chemical sectors, are adopting Solketal to comply with these emission norms. Its eco-friendly nature makes it a preferred alternative to traditional solvents and fuel additives. Thus, increasing regulatory pressure is propelling the market by encouraging sustainable and cleaner solutions.
Threat:
Economic instability
Fluctuating exchange rates and inflation can increase production costs, making Solketal less competitive and profitable. A decline in consumer purchasing power lowers demand for products containing Solketal, especially in sectors like fuel additives, pharmaceuticals, and cosmetics. Additionally, economic instability disrupts supply chains, delaying the delivery of raw materials and finished goods. Businesses often prioritize cost-cutting over sustainability initiatives during economic downturns, impacting the adoption of Solketal. Overall, these challenges limit market growth, discouraging new entrants and slowing industry advancements.
Covid-19 Impact
The COVID-19 pandemic disrupted the solketal market due to supply chain interruptions, reduced industrial operations, and fluctuating demand. Lockdowns globally impacted manufacturing sectors, including biodiesel production and pharmaceuticals, key end-users of solketal. The decline in transportation lowered biodiesel demand, stalling solketal growth. However, increased focus on pharmaceuticals and green chemicals offered partial recovery opportunities. Post-pandemic, the market saw gradual stabilization with the resurgence of industrial activities and renewed interest in sustainable chemicals.
The solvent segment is expected to be the largest during the forecast period
The solvent segment is estimated to have a lucrative growth, due to its widespread use as an effective solvent in various industries. Solketal, derived from glycerol, enhances the performance of biofuels by improving their oxidative stability and reducing emissions, making it a sustainable and eco-friendly choice. The growing demand for green solvents in line with environmental regulations propels its adoption in manufacturing processes. Additionally, its compatibility with biodiesel and other fuel additives accelerates its role in renewable energy solutions. This increasing demand for efficient, low-toxicity solvents continues to position the solvent segment as a key driver for the market.
The paints and coatings segment is expected to have the highest CAGR during the forecast period
The paints and coatings segment is anticipated to witness the highest CAGR growth during the forecast period, due to its role as a key green solvent and additive. Solketal enhances the stability and performance of paints by reducing viscosity and improving flow properties, which ensures better application. Its eco-friendly nature aligns with the rising demand for sustainable and low-VOC (volatile organic compound) formulations in the industry. Additionally, Solketal provides excellent chemical resistance and enhances drying time, making it ideal for premium coatings. Overall, its unique properties and environmental benefits make Solketal a preferred choice in modern paints and coatings.
Region with largest share:
Asia Pacific is expected to hold the largest market share during the forecast period driven by increasing demand for bio-based chemicals and sustainable solutions across industries. Solketal, derived from glycerol, is widely used as a fuel additive, solvent, and intermediate in pharmaceuticals and cosmetics. Rapid industrialization, supportive government policies promoting green chemistry, and growing biodiesel production in countries like China, India, and Japan are key drivers. The region's expanding automotive and chemical sectors further boost solketal adoption. Rising environmental awareness and advancements in biofuel technologies position Asia-Pacific as a crucial market for solketal growth.
Region with highest CAGR:
North America is expected to have the highest CAGR over the forecast period, owing to ts increasing demand in various industries, including pharmaceuticals, cosmetics, and chemical manufacturing. Solketal, known for its use as a solvent and intermediate in the production of biofuels, is valued for its versatility and eco-friendly properties. As sustainability efforts rise, industries are shifting towards renewable resources, propelling Solketal's popularity. Moreover, the growth of bio-based chemicals and eco-friendly solvents supports its market expansion. Key players in North America are focusing on enhancing production capacities and innovation to meet regional demand.
Key players in the market
Some of the key players profiled in the Solketal Market include Solvay, Loba Feinchemie AG, CM Fine Chemical, Chemos GmbH, Suzhou ChonTech BioPharma, Beyond Industries, Merck KGaA, Alfa Aesar, Avantor Inc., Dayang Chem (Hangzhou) Co., Ltd., TCI America, Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co., Ltd., ABCR GmbH and AK Scientific, Inc.
Key Developments:
In November 2024, CM Fine Chemicals is collaborating with Colorcon to utilize their expertise in cellulose ether chemistry. This partnership aims to optimize value for customers in the pharmaceutical industry, leveraging both companies' strengths in formulation development.
In June 2024, Solvay and Cyclic Materials announced a supply agreement for recycled mixed rare earth oxide (rMREO). The collaboration builds on a memorandum of understanding signed and focuses on creating a sustainable supply chain for critical materials used in electric vehicles and electronics.
Purities Covered:
- 96-97%
- 98%
- >98%
Applications Covered:
- Solvent
- Pharmaceutical Intermediate
- Biofuel
- Other Applications
End Users Covered:
- Cosmetics and Personal Care
- Food and Beverage Industry
- Chemical Manufacturing
- Paints and Coatings
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Solketal Market, By Purity
- 5.1 Introduction
- 5.2 96-97%
- 5.3 98%
- 5.4 >98%
6 Global Solketal Market, By Application
- 6.1 Introduction
- 6.2 Solvent
- 6.3 Pharmaceutical Intermediate
- 6.4 Biofuel
- 6.5 Other Applications
7 Global Solketal Market, By End User
- 7.1 Introduction
- 7.2 Cosmetics and Personal Care
- 7.3 Food and Beverage Industry
- 7.4 Chemical Manufacturing
- 7.5 Paints and Coatings
- 7.6 Other End Users
8 Global Solketal Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Solvay
- 10.2 Loba Feinchemie AG
- 10.3 CM Fine Chemical
- 10.4 Chemos GmbH
- 10.5 Suzhou ChonTech BioPharma
- 10.6 Beyond Industries
- 10.7 Merck KGaA
- 10.8 Alfa Aesar
- 10.9 Avantor Inc.
- 10.10 Dayang Chem (Hangzhou) Co., Ltd.
- 10.11 TCI America
- 10.12 Thermo Fisher Scientific Inc.
- 10.13 Tokyo Chemical Industry Co., Ltd.
- 10.14 ABCR GmbH
- 10.15 AK Scientific, Inc.
List of Tables
- Table 1 Global Solketal Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Solketal Market Outlook, By Purity (2022-2030) ($MN)
- Table 3 Global Solketal Market Outlook, By 96-97% (2022-2030) ($MN)
- Table 4 Global Solketal Market Outlook, By 0.98 (2022-2030) ($MN)
- Table 5 Global Solketal Market Outlook, By >98% (2022-2030) ($MN)
- Table 6 Global Solketal Market Outlook, By Application (2022-2030) ($MN)
- Table 7 Global Solketal Market Outlook, By Solvent (2022-2030) ($MN)
- Table 8 Global Solketal Market Outlook, By Pharmaceutical Intermediate (2022-2030) ($MN)
- Table 9 Global Solketal Market Outlook, By Biofuel (2022-2030) ($MN)
- Table 10 Global Solketal Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 11 Global Solketal Market Outlook, By End User (2022-2030) ($MN)
- Table 12 Global Solketal Market Outlook, By Cosmetics and Personal Care (2022-2030) ($MN)
- Table 13 Global Solketal Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
- Table 14 Global Solketal Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
- Table 15 Global Solketal Market Outlook, By Paints and Coatings (2022-2030) ($MN)
- Table 16 Global Solketal Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 17 North America Solketal Market Outlook, By Country (2022-2030) ($MN)
- Table 18 North America Solketal Market Outlook, By Purity (2022-2030) ($MN)
- Table 19 North America Solketal Market Outlook, By 96-97% (2022-2030) ($MN)
- Table 20 North America Solketal Market Outlook, By 0.98 (2022-2030) ($MN)
- Table 21 North America Solketal Market Outlook, By >98% (2022-2030) ($MN)
- Table 22 North America Solketal Market Outlook, By Application (2022-2030) ($MN)
- Table 23 North America Solketal Market Outlook, By Solvent (2022-2030) ($MN)
- Table 24 North America Solketal Market Outlook, By Pharmaceutical Intermediate (2022-2030) ($MN)
- Table 25 North America Solketal Market Outlook, By Biofuel (2022-2030) ($MN)
- Table 26 North America Solketal Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 27 North America Solketal Market Outlook, By End User (2022-2030) ($MN)
- Table 28 North America Solketal Market Outlook, By Cosmetics and Personal Care (2022-2030) ($MN)
- Table 29 North America Solketal Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
- Table 30 North America Solketal Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
- Table 31 North America Solketal Market Outlook, By Paints and Coatings (2022-2030) ($MN)
- Table 32 North America Solketal Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 33 Europe Solketal Market Outlook, By Country (2022-2030) ($MN)
- Table 34 Europe Solketal Market Outlook, By Purity (2022-2030) ($MN)
- Table 35 Europe Solketal Market Outlook, By 96-97% (2022-2030) ($MN)
- Table 36 Europe Solketal Market Outlook, By 0.98 (2022-2030) ($MN)
- Table 37 Europe Solketal Market Outlook, By >98% (2022-2030) ($MN)
- Table 38 Europe Solketal Market Outlook, By Application (2022-2030) ($MN)
- Table 39 Europe Solketal Market Outlook, By Solvent (2022-2030) ($MN)
- Table 40 Europe Solketal Market Outlook, By Pharmaceutical Intermediate (2022-2030) ($MN)
- Table 41 Europe Solketal Market Outlook, By Biofuel (2022-2030) ($MN)
- Table 42 Europe Solketal Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 43 Europe Solketal Market Outlook, By End User (2022-2030) ($MN)
- Table 44 Europe Solketal Market Outlook, By Cosmetics and Personal Care (2022-2030) ($MN)
- Table 45 Europe Solketal Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
- Table 46 Europe Solketal Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
- Table 47 Europe Solketal Market Outlook, By Paints and Coatings (2022-2030) ($MN)
- Table 48 Europe Solketal Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 49 Asia Pacific Solketal Market Outlook, By Country (2022-2030) ($MN)
- Table 50 Asia Pacific Solketal Market Outlook, By Purity (2022-2030) ($MN)
- Table 51 Asia Pacific Solketal Market Outlook, By 96-97% (2022-2030) ($MN)
- Table 52 Asia Pacific Solketal Market Outlook, By 0.98 (2022-2030) ($MN)
- Table 53 Asia Pacific Solketal Market Outlook, By >98% (2022-2030) ($MN)
- Table 54 Asia Pacific Solketal Market Outlook, By Application (2022-2030) ($MN)
- Table 55 Asia Pacific Solketal Market Outlook, By Solvent (2022-2030) ($MN)
- Table 56 Asia Pacific Solketal Market Outlook, By Pharmaceutical Intermediate (2022-2030) ($MN)
- Table 57 Asia Pacific Solketal Market Outlook, By Biofuel (2022-2030) ($MN)
- Table 58 Asia Pacific Solketal Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 59 Asia Pacific Solketal Market Outlook, By End User (2022-2030) ($MN)
- Table 60 Asia Pacific Solketal Market Outlook, By Cosmetics and Personal Care (2022-2030) ($MN)
- Table 61 Asia Pacific Solketal Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
- Table 62 Asia Pacific Solketal Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
- Table 63 Asia Pacific Solketal Market Outlook, By Paints and Coatings (2022-2030) ($MN)
- Table 64 Asia Pacific Solketal Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 65 South America Solketal Market Outlook, By Country (2022-2030) ($MN)
- Table 66 South America Solketal Market Outlook, By Purity (2022-2030) ($MN)
- Table 67 South America Solketal Market Outlook, By 96-97% (2022-2030) ($MN)
- Table 68 South America Solketal Market Outlook, By 0.98 (2022-2030) ($MN)
- Table 69 South America Solketal Market Outlook, By >98% (2022-2030) ($MN)
- Table 70 South America Solketal Market Outlook, By Application (2022-2030) ($MN)
- Table 71 South America Solketal Market Outlook, By Solvent (2022-2030) ($MN)
- Table 72 South America Solketal Market Outlook, By Pharmaceutical Intermediate (2022-2030) ($MN)
- Table 73 South America Solketal Market Outlook, By Biofuel (2022-2030) ($MN)
- Table 74 South America Solketal Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 75 South America Solketal Market Outlook, By End User (2022-2030) ($MN)
- Table 76 South America Solketal Market Outlook, By Cosmetics and Personal Care (2022-2030) ($MN)
- Table 77 South America Solketal Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
- Table 78 South America Solketal Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
- Table 79 South America Solketal Market Outlook, By Paints and Coatings (2022-2030) ($MN)
- Table 80 South America Solketal Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 81 Middle East & Africa Solketal Market Outlook, By Country (2022-2030) ($MN)
- Table 82 Middle East & Africa Solketal Market Outlook, By Purity (2022-2030) ($MN)
- Table 83 Middle East & Africa Solketal Market Outlook, By 96-97% (2022-2030) ($MN)
- Table 84 Middle East & Africa Solketal Market Outlook, By 0.98 (2022-2030) ($MN)
- Table 85 Middle East & Africa Solketal Market Outlook, By >98% (2022-2030) ($MN)
- Table 86 Middle East & Africa Solketal Market Outlook, By Application (2022-2030) ($MN)
- Table 87 Middle East & Africa Solketal Market Outlook, By Solvent (2022-2030) ($MN)
- Table 88 Middle East & Africa Solketal Market Outlook, By Pharmaceutical Intermediate (2022-2030) ($MN)
- Table 89 Middle East & Africa Solketal Market Outlook, By Biofuel (2022-2030) ($MN)
- Table 90 Middle East & Africa Solketal Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 91 Middle East & Africa Solketal Market Outlook, By End User (2022-2030) ($MN)
- Table 92 Middle East & Africa Solketal Market Outlook, By Cosmetics and Personal Care (2022-2030) ($MN)
- Table 93 Middle East & Africa Solketal Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
- Table 94 Middle East & Africa Solketal Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
- Table 95 Middle East & Africa Solketal Market Outlook, By Paints and Coatings (2022-2030) ($MN)
- Table 96 Middle East & Africa Solketal Market Outlook, By Other End Users (2022-2030) ($MN)
