The ketones market was valued at US$ 4,286.5 million in 2020 and is projected to reach US$ 7,106.5 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.
Ketones, such as acetone, methyl ethyl ketone, and diisobutyl ketones, are widely used as industrial solvents and chemical intermediates for manufacturing coatings, adhesives, paints, paint removers, rubbers, plastics, and pharmaceutical products. Moreover, exogenous ketones are used in dietary supplements. They commonly consist of ketone salts, also known as Beta-hydroxybutyrate or BHB, and ketone esters.
Based on application, the ketones market is segmented into food & beverage, dietary supplements, personal care & cosmetics, and others. The other application segment accounted for the largest market share in 2020, and the dietary supplements segment is expected to register the highest CAGR in the market during the forecast period. Other applications of ketones are chemical and industrial applications. Ketones such as methyl ethyl ketone, methyl isobutyl ketone, di-isobutyl ketone, and acetone are widely used chemical intermediates in the chemicals industry. Acetone is widely used as a chemical intermediate in the production of acrylic plastics, polycarbonates, and epoxy resins. Moreover, diisobutyl ketone is used as a chemical intermediate in the synthesis of diisobutyl carbinol. Additionally, methyl ethyl ketones are used as a chemical intermediate in the manufacturing of certain pharmaceutical products. Acrylic plastics and epoxy resins are extensively used in automotive and signage applications. Diisobutyl carbinol is used in the synthesis of hydrogen peroxide, lacquers, shellac, printing inks, vinyl-chloride-acetate resins, urea-melamine resins, and alkyd resins. Ketones are used as industrial solvents in the manufacturing of paints and coatings, adhesives, automotive finishes, rubbers, textiles, varnishes, printing inks, etc. In the coatings industry, they are widely used as solvents in the production of nitrocellulose and other cellulose esters, resins, and vinyl chloride-vinyl acetate. These solvents can be employed as active solvents or diluents, and they are frequently used in conjunction with other solvents. Methyl ethyl ketones are commonly used as a solvent in rubber manufacturing. Further, ketones are used as a fractionating agent in the extraction of oils and fats. They are used to sterilize medical equipment such as surgical instruments, hypodermic needles, syringes, and dental instruments.
Based on region, the ketones market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, Asia-Pacific held the largest share of the global ketones market and is estimated to register the highest CAGR in the market during the forecast period. Increased demand for health-beneficial supplements is one of the key factors driving the market growth in Asia-Pacific. Changing eating habits of people because of their hectic lifestyles and health concerns are also boosting the growth of the ketone supplement market in the area. Moreover, the chemical sector accounts for over 45% of world chemical output and more than 69% of global chemical jobs in Asia Pacific, according to The International Institute for Sustainable Development. In the chemical industry, ketones are extensively utilized as solvents and catalysts. Thus, the well-established chemicals industry in Asia-Pacific is expected to boost the growth of the ketones market in the coming period.
A few players operating in the ketones market are Compound Solutions Inc.; Aurochemicals; Taj Pharmaceuticals Chemicals; Orchid Chemical Supplies Ltd; Hunan NutraMax Inc.; HEALTH SOURCES NUTRITION CO., LTD.; Advanced Biotech; Eastman Chemical Company; Royal Dutch Shell plc.; and SABIC.
The size of overall ketones market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the ketones market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
 1.3.1 Ketones Market, by Form
 1.3.2 Ketones Market, by Application
 1.3.3 Ketones Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
 3.2.1 Data Collection:
 3.2.2 Primary Interviews:
 3.2.3 Hypothesis Formulation:
 3.2.4 Macro-economic Factor Analysis:
 3.2.5 Developing Base Number:
 3.2.6 Data Triangulation:
 3.2.7 Country Level Data:
 3.2.8 Limitations & Assumptions:
4. Ketones Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
 4.2.1 Bargaining Power of Suppliers
 4.2.2 Bargaining Power of Buyers
 4.2.3 Threat of Substitutes
 4.2.4 Threat of New Entrants
 4.2.5 Intensity of Competitive Rivalry
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Ketones Market - Key Market Dynamics
5.1 Market Drivers
 5.1.1 Escalating Demand from Various Industries
 5.1.2 Rising Popularity of Ketone Supplements
5.2 Market Restraint
 5.2.1 Lack of Awareness and Low Adoption of Ketone Supplements in Developing Economies.
5.3 Market Opportunities
 5.3.1 New Product Launches
5.4 Future Trends
 5.4.1 Rising Preference for Bio-Ketones over Conventional Ketones
5.5 Impact Analysis of Drivers and Restraint
6. Ketones - Global Market Analysis
6.1 Ketones Market Overview
6.2 Ketones Market -Revenue and Forecast to 2028 (US$ Mn)
6.1 Market Positioning
7. Ketones Market Analysis - By Form
7.1 Overview
7.2 Ketones Market, By Form (2020 and 2028)
7.3 Solid
 7.3.1 Overview
 7.3.2 Solid: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Liquid
 7.4.1 Overview
 7.4.2 Liquid: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
8. Ketones Market Analysis - By Application
8.1 Overview
8.2 Ketones Market, By Application (2020 and 2028)
8.3 Food and Beverage
 8.3.1 Overview
 8.3.2 Food and Beverage: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Dietary Supplements
 8.4.1 Overview
 8.4.2 Dietary Supplements: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Personal Care and Cosmetics
 8.5.1 Overview
 8.5.2 Personal Care and Cosmetics: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
 8.6.1 Overview
 8.6.2 Others: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
9. Ketones Market - Geographic Analysis
9.1 Overview
9.2 North America: Ketones Market
 9.2.1 North America: Ketones Market -Revenue and Forecast to 2028 (US$ Mn)
 9.2.2 North America: Ketones Market, By Form
 9.2.3 North America: Ketones Market, By Application
 9.2.4 North America: Ketones Market, by Key Country
 9.2.4.1 US: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
 9.2.4.1.1 US: Ketones Market, by Form
 9.2.4.1.2 US: Ketones Market, by Application
 9.2.4.2 Canada: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
 9.2.4.2.1 Canada: Ketones Market, by Form
 9.2.4.2.2 Canada: Ketones Market, by Application
 9.2.4.3 Mexico: Ketones Market - Revenue and Forecast to 2028 (US$ Mn)
 9.2.4.3.1 Mexico: Ketones Market, by Form
 9.2.4.3.2 Mexico: Ketones Market, by Application
9.3 Europe: Ketones Market
 9.3.1 Europe: Ketones Market - Analysis and Forecast to 2028 (US$ Mn)
 9.3.2 Europe: Ketones Market, by Form
 9.3.3 Europe: Ketones Market, by Application
 9.3.4 Europe: Ketones Market, by Key Country
 9.3.4.1 Germany: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.3.4.1.1 Germany: Ketones Market, by Form
 9.3.4.1.2 Germany: Ketones Market, by Application
 9.3.4.2 France: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.3.4.2.1 France: Ketones Market, by Form
 9.3.4.2.2 France: Ketones Market, by Application
 9.3.4.3 UK: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.3.4.3.1 UK: Ketones Market, by Form
 9.3.4.3.2 UK: Ketones Market, by Application
 9.3.4.4 Italy: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.3.4.4.1 Italy: Ketones Market, by Form
 9.3.4.4.2 Italy: Ketones Market, by Application
 9.3.4.5 Russia: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.3.4.5.1 Russia: Ketones Market, by Form
 9.3.4.5.2 Russia: Ketones Market, by Application
 9.3.4.6 Rest of Europe: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.3.4.6.1 Rest of Europe: Ketones Market, by Form
 9.3.4.6.2 Rest of Europe: Ketones Market, by Application
9.4 Asia-Pacific: Ketones Market
 9.4.1 Asia-Pacific: Ketones Market - Analysis and Forecast to 2028 (US$ Mn)
 9.4.2 Asia-Pacific: Ketones Market, by Form
 9.4.3 Asia-Pacific: Ketones Market, by Application
 9.4.4 Asia-Pacific: Ketones Market, by Key Country
 9.4.4.1 China: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.4.4.1.1 China: Ketones Market, by Form
 9.4.4.1.2 China: Ketones Market, by Application
 9.4.4.2 Japan: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.4.4.2.1 Japan: Ketones Market, by Form
 9.4.4.2.2 Japan: Ketones Market, by Application
 9.4.4.3 India: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.4.4.3.1 India: Ketones Market, by Form
 9.4.4.3.2 India: Ketones Market, by Application
 9.4.4.4 Australia: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.4.4.4.1 Australia: Ketones Market, by Form
 9.4.4.4.2 Australia: Ketones Market, by Application
 9.4.4.5 South Korea: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.4.4.5.1 South Korea: Ketones Market, by Form
 9.4.4.5.2 South Korea: Ketones Market, by Application
 9.4.4.6 Rest of Asia-Pacific: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.4.4.6.1 Rest of Asia-Pacific: Ketones Market, by Form
 9.4.4.6.2 Rest of Asia-Pacific: Ketones Market, by Application
9.5 Middle East and Africa: Ketones Market
 9.5.1 Middle East and Africa: Ketones Market - Analysis and Forecast to 2028 (US$ Mn)
 9.5.2 Middle East and Africa: Ketones Market, by Form
 9.5.3 Middle East and Africa: Ketones Market, by Application
 9.5.4 Middle East and Africa: Ketones Market, by Key Country
 9.5.4.1 South Africa: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.5.4.1.1 South Africa: Ketones Market, by Form
 9.5.4.1.2 South Africa: Ketones Market, by Application
 9.5.4.2 Saudi Arabia: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.5.4.2.1 Saudi Arabia: Ketones Market, by Form
 9.5.4.2.2 Saudi Arabia: Ketones Market, by Application
 9.5.4.3 UAE: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.5.4.3.1 UAE: Ketones Market, by Form
 9.5.4.3.2 UAE: Ketones Market, by Application
 9.5.4.4 Rest of the Middle East and Africa: Ketones Market -Analysis and Forecast to 2028 (US$ Mn)
 9.5.4.4.1 Rest of the Middle East and Africa: Ketones Market, by Form
 9.5.4.4.2 Rest of the Middle East and Africa: Ketones Market, by Application
9.6 South America: Ketones Market
 9.6.1 South America: Ketones Market - Revenue and Forecast to 2028(US$ Mn)
 9.6.2 South America: Ketones Market, By Form
 9.6.3 South America: Ketones Market, by Application
 9.6.4 South America: Ketones Market, by Key Country
 9.6.4.1 Brazil: Ketones Market -Revenue and Forecast to 2028 (US$ Mn)
 9.6.4.1.1 Brazil: Ketones Market, By Form
 9.6.4.1.2 Brazil: Ketones Market, by Application
 9.6.4.2 Argentina: Ketones Market -Revenue and Forecast to 2028 (US$ Mn)
 9.6.4.2.1 Argentina: Ketones Market, By Form
 9.6.4.2.2 Argentina: Ketones Market, by Application
 9.6.4.3 Rest of SAM: Ketones Market -Revenue and Forecast to 2028 (US$ Mn)
 9.6.4.3.1 Rest of SAM: Ketones Market, By Form
 9.6.4.3.2 Rest of SAM: Ketones Market, by Application
10. Impact of COVID-19 Pandemic on Ketones Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.6 South America: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Compound Solutions, Inc
 11.1.1 Key Facts
 11.1.2 Business Description
 11.1.3 Products and Services
 11.1.4 Financial Overview
 11.1.5 SWOT Analysis
 11.1.6 Key Developments
11.2 Aurochemicals
 11.2.1 Key Facts
 11.2.2 Business Description
 11.2.3 Products and Services
 11.2.4 Financial Overview
 11.2.5 SWOT Analysis
 11.2.6 Key Developments
11.3 Taj Pharmaceuticals Chemicals
 11.3.1 Key Facts
 11.3.2 Business Description
 11.3.3 Products and Services
 11.3.4 Financial Overview
 11.3.5 SWOT Analysis
 11.3.6 Key Developments
11.4 Orchid Chemical Supplies Ltd
 11.4.1 Key Facts
 11.4.2 Business Description
 11.4.3 Products and Services
 11.4.4 Financial Overview
 11.4.5 SWOT Analysis
 11.4.6 Key Developments
11.5 Hunan NutraMax Inc.
 11.5.1 Key Facts
 11.5.2 Business Description
 11.5.3 Products and Services
 11.5.4 Financial Overview
 11.5.5 SWOT Analysis
 11.5.6 Key Developments
11.6 Health Sources Nutrition CO., LTD.
 11.6.1 Key Facts
 11.6.2 Business Description
 11.6.3 Products and Services
 11.6.4 Financial Overview
 11.6.5 SWOT Analysis
 11.6.6 Key Developments
11.7 Advanced Biotech
 11.7.1 Key Facts
 11.7.2 Business Description
 11.7.3 Products and Services
 11.7.4 Financial Overview
 11.7.5 SWOT Analysis
 11.7.6 Key Developments
11.8 Eastman Chemical Company
 11.8.1 Key Facts
 11.8.2 Business Description
 11.8.3 Products and Services
 11.8.4 Financial Overview
 11.8.5 SWOT Analysis
 11.8.6 Key Developments
11.9 Royal Dutch Shell plc
 11.9.1 Key Facts
 11.9.2 Business Description
 11.9.3 Products and Services
 11.9.4 Financial Overview
 11.9.5 SWOT Analysis
 11.9.6 Key Developments
11.10 SABIC
 11.10.1 Key Facts
 11.10.2 Business Description
 11.10.3 Products and Services
 11.10.4 Financial Overview
 11.10.5 SWOT Analysis
 11.10.6 Key Developments
12. Appendix
12.1 About
12.2 Glossary
LIST OF TABLES
Table 1. Ketones Market -Revenue and Forecast to 2028 (US$ Mn)
Table 2. North America Ketones Market, by Form - Revenue and Forecast to 2028 (US$ Mn)
Table 3. North America Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 4. US Ketones Market, by Form - Revenue and Forecast to 2028 (US$ Mn)
Table 5. US Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 6. Canada Ketones Market, by Form - Revenue and Forecast to 2028 (US$ Mn)
Table 7. Canada Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 8. Mexico Ketones Market, by Form - Revenue and Forecast to 2028 (US$ Mn)
Table 9. Mexico Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 10. Europe Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 11. Europe Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 12. Germany Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 13. Germany Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 14. France Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 15. France Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 16. UK Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 17. UK Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 18. Italy Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 19. Italy Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 20. Russia Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 21. Russia Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 22. Rest of Europe Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 23. Rest of Europe Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 24. Asia-Pacific Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 25. Asia-Pacific Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 26. China Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 27. China Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 28. Japan Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 29. Japan Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 30. India Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 31. India Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 32. Australia Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 33. Australia Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 34. South Korea Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 35. South Korea Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 36. Rest of Asia-Pacific Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 37. Rest of Asia-Pacific Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 38. Middle East and Africa Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 39. Middle East and Africa Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 40. South Africa Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 41. South Africa Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 42. Saudi Arabia Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 43. Saudi Arabia Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 44. UAE Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 45. UAE Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 46. Rest of the Middle East and Africa Ketones Market, by Form- Revenue and Forecast to 2028 (US$ Mn)
Table 47. Rest of the Middle East and Africa Ketones Market, by Application- Revenue and Forecast to 2028 (US$ Mn)
Table 48. South America Ketones Market, By Form - Revenue and Forecast to 2028 (US$ Mn)
Table 49. South America Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 50. Brazil Ketones Market, By Form - Revenue and Forecast to 2028 (US$ Mn)
Table 51. Brazil Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 52. Argentina Ketones Market, By Form - Revenue and Forecast to 2028 (US$ Mn)
Table 53. Argentina Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 54. Rest of SAM Ketones Market, By Form - Revenue and Forecast to 2028 (US$ Mn)
Table 55. Rest of SAM Ketones Market, by Application - Revenue and Forecast to 2028 (US$ Mn)
Table 56. Glossary of Terms, Global Ketones Market
LIST OF FIGURES
Compound Solutions Inc.
Aurochemicals
Taj Pharmaceuticals Chemicals
Orchid Chemical Supplies Ltd
Hunan NutraMax Inc.
Health Sources Nutrition Co., Ltd.
Advanced Biotech
Eastman Chemical Company
Royal Dutch Shell plc.
SABIC