From 2022 to 2032, the global solketal market is projected to rise at a CAGR of 3.50 percent, from US$76.85 billion in 2022 to US$108.4 billion in 2032. While acetone is commercially generated via petrochemical processes, glycerol is mostly derived from biological sources. This can be a significant factor restricting the growth of the solketal market.
Solketal is also known as isopropylidene glycerin. Solketal is categorized under glycerin and glycerin derivative and has significant potential to be used as additive to improve biodiesel properties. By IUPAC standards, solketal is identified as 4-hydroxymethyl-2,2-dimethyl-1,3-dioxolane. Solketal is a clear, colorless, and odorless liquid, and possess good fluidity at room temperature. Solketal has been widely used for the organic synthesis of mono, di and tri esters and recognized as a green industrial solvent additive in gasoline and biofuels.
Solketal is formed by reacting glycerol and acetone in the presence of an acid which results in the formation of a five membered ring called 1,3-dioxolane, which releases the water molecule to form solketal. There has been rise in demand for solketal as oxygenate fuel additive, as it can be used to reduce the particulate emission and improve the flow properties of the transportation fuels. Solketal has also shown noteworthy demand to improve the oxygen stability and increases the octane number of gasoline and has significantly reduced the gum formation along the vehicle fuel lining.
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Global Solketal Market Dynamics
The growing demand for biofuels and biodiesel is expected to create demand for solketal over the forthcoming years. Solketal is found to be soluble in gasoline and also in gasoline with significant proportion of ethanol. Solketal is also being used to increase the octane number of the fuels. The global solketal market has also witnessed growing demand for its use as chemical intermediate to synthesize benzyl solketal ether. With the stringent regulations pertaining to the use of bio fuels and additives, there has been an expected rise in demand for solketal over the coming years.
The global solketal market has faced a number of challenges pertaining to the use of acetone in its synthesis. Though solketal is applied in a number of applications as biofuels, there are controversies surrounding its other constituent i.e. acetone. Glycerol is majorly derived from biological origin but the other feedstock i.e. acetone is being commercially obtained from the petrochemical processes. This may act as a key in factor restraining solketal market growth.
Global Solketal Market: Regional Outlook
In terms of regional perspective, Europe and North America are anticipated to represent significant market share in the global solketal market. This is attributed to the increasing stringent regulations pertaining to the use of biofuels across a range of applications. Asia Pacific is anticipated to register steady rise in demand over the second half of the forecast period. China is anticipated to be a major consumer for solketal in the Asia Pacific regions. Other regions such as Latin America and Middle East and Africa are anticipated to be regions with low volume share but are projected to witness robust rise in demand over the forecast period.
The ketalization of glycerol and acetone yields cyclic ether known as Solketal. The global solketal market manufacturers are in lining up and channelizing their efforts for the production of bio based solketal to improve the efficiency and to meet the stringent regulations pertaining to the use of additives. Moreover, there has been increase in production of high purity grade of solketal for its use in pharmaceutical and food industry
Global Solketal Market Participants
Some of the market participants identified across the value chain of global solketal market are:
- 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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Global Solketal Market: Segmentation
The global solketal market can be segmented on the basis of application, purity, and end use industry
Based on the purity, the global solketal market can be segmented into,
Based on the application, the global solketal market can be segmented into,
- Pharmaceutical intermediate
Based on the end use industry, the global solketal market can be segmented into,
- Cosmetics and personal care
- Food and beverage industry
- Pharmaceutical Industry
- Chemical Manufacturing
- Paints and coatings