Methyl Ethyl Ketone Market Global Industry Analysis and Forecast Till 2028

Currently, the chemical industry is experiencing positive growth in the global economy, and also continued strength throughout the major key end-use industries such as automotive, electronics, and construction. The chemical sector is the backbone of the global economy, and contributes more than five percent to the global GDP. All these chemicals are manufactured from various types of chemicals which play as a role as a catalyst, intermediate, or an agent.

Methyl ethyl ketone is one the chemicals used as a solvent, resin, and adhesive for the end use industries. Methyl ethyl ketone is also known as butanone and abbreviated as MEK. Methyl ethyl ketone is an organic compound having the molecular formula C4H8O. There are several methods are used for the manufacturing of methyl ethyl ketone, such as, by the dehydrogenation process of 2-butanol, by sulphuric acid and n- butene, by phenol to obtained methyl ethyl ketone, and acetone as a byproduct.

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Market Dynamics: Methyl Ethyl Ketone Market

Industrial development, growth in the economy, and emerging innovative technology are the factors which can uplift the growth of the methyl ethyl ketone market during the forecast period. In addition to this, there are other several factors which can add to the growth of the methyl ethyl ketone market, such as growing disposable income in developed and developing regions, which, is in turn, is boosting the demand for methyl ethyl ketone in the global market. Besides this, recovery of the infrastructural development and construction sector across many economies is also supporting the growth of the global methyl ethyl ketone market. With these positive factors, there are also some factors which can restrict the growth of the methyl ethyl ketone market, such as geopolitical uncertainty, fluctuation in oil prices, and opposition to free trade. On the opportunity front, there is significant opportunity to key manufacturers to invest in the methyl ethyl ketone market, owing to infrastructure investments by the respective regional governments, growth in end use industries, a rebound in industrial activities, etc.

On the basis of the end use industry, the paints & coatings segment is expected to dominate the methyl ethyl ketone market from last decade, and is expected to continue the same in the near future. The segment alone is expected to hold more than fifty percent of the market share in terms of volume, followed by the rubber and packaging segment.

Market Segmentation: Methyl Ethyl Ketone Market

The methyl ethyl ketone market is segmented on the basis of application and end use.

On the basis of application, the methyl ethyl ketone market segmented

• Solvents
• Resins
• Inks
• Adhesives
• Others

On the basis of end use, the methyl ethyl ketone market segmented as,

• Paints & Coatings
• Rubber
• Packaging
• Artificial Leather
• Others

Regional Outlook: Methyl Ethyl Ketone Market

On the basis of geographical analysis, the consumption of methyl ethyl ketone is expected to grow at an average rate of nearly 2% in the coming forecast period. Most of the methyl ethyl ketone market growth is expected to come from the Asia Pacific region, especially from China, owing to significant growth in end use industries, subsidiary policies in favor of manufacturers, availability of labor at cheap rates, etc. The concentration of methyl ethyl ketone consumption in increasing majorly in three region - Asia Pacific, Japan, and Western Europe. These regions, collectively, are expected to hold more than two-thirds of the market share in terms of value and volume. In Asia Pacific, China alone makes up more than one-third of the methyl ethyl ketone market in terms of value and volume. Western Europe is expected to gain traction in the methyl ethyl ketone market in the near future, owing to process optimization in the technology.

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Some of the key players in the methyl ethyl ketone market are:

• AkzoNobel N.V.
• Arkema S.A.
• Sasol Solvents
• ExxonMobil Chemical
• Shell Chemicals
• Cetex Petrochemicals
• Ineos Solvents
• PetroChina Lanzhou Petrochemicals
• Idemitsu Kosan Co. Ltd
• Tonen Chemicals
• SK Energy Co. Ltd

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