Global Solketal Market: Overview
Solketal is also known as isopropylidene glycerin and is categorized as a glycerin derivative and has significant potential to be used as an additive to improve biodiesel properties. It is a clear, colorless, and odorless liquid, and possesses good fluidity at room temperature.
Global sustainable fuel markets have witnessed a steadily increasing demand for solketal as a fuel additive, as it can be used to reduce particulate matter emissions and improve the flow properties of transportation fuels. Solketal also improves oxygen stability of fuels, increases the octane number of gasoline and significantly reduces gum formation along a vehicle’s fuel lining.
Due to increasing awareness for sustainable development and the positive role played by energy-efficient technology, biofuels are due to grow in popularity in the coming years. Thus, the Solketal Market would grow in tandem over the forecast period of 2024 to 2030, notes Transparency Market Research.
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Global Solketal Market: Competitive Landscape
The vendor landscape of global solketal market is rife with novel developments – a product of large number of players deploying a host of measure to gain higher market share. Some of the key market participants present across the manufacturing board 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: Key Trends and Drivers
- Biofuels have the potential to reduce energy and greenhouse gas emissions associated with logistical operations. In 2018, the average U.S. petroleum usage was 20.5 million barrels per day, of which 11% was imported. 79 biodiesel production plants in the U.S. operated at 78% capacity in 2018. As seen above, in an ongoing drive for the use of sustainable development materials, the Solketal Market is set to find increased demand owing to its major role in biofuel production.
- Though solketal is applied in a number of applications such as biofuels, there are controversies surrounding its other major constituent, that is, acetone, which is being commercially obtained from commercial petrochemical processes. This may act as a key factor in restraining Solketal Market growth, if strict compliance with sustainable development is sought. Technological development might pave way for a solution in the future.
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Global Solketal Market: Regional Analysis
A regional analysis of the global Solketal Market reveals that Europe and North America are anticipated to represent a significant market share in the global solketal market. This is attributed to implementation of stringent regulations pertaining to use of biofuels across a range of applications. The United States is leading this development by promoting biofuel production through a number of policies, research and development (R&D, and innovation in these areas. Following suit, Canada has also intensified the promotion of biofuels through Renewable Fuels Regulation, in addition to a number of local provincial policies.
Asia Pacific is anticipated to register steady rise in demand over the second half of the forecast period. China is projected to be a major consumer of solketal in the Asia Pacific region. Other regions such as Latin America, the Middle East and Africa are anticipated to be regions with low volume share of the market, but are projected to witness increase in demand over the forecast period, owing to an energy intensive growth of industries.
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