Methyl Ethyl Ketone (MEK) Market Geographic Segmentation, Analysis by Types and Regions and Forecast to 2024

Posted on 2021-10-29 by researchinsights in Chemicals // 0 Comments

San Jose, California , USA, Oct 29, 2021 — /EPR Network/ —

The Methyl Ethyl Ketone (MEK) Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global Methyl Ethyl Ketone (MEK) Market was valued at USD 2.56 billion in 2015 and is anticipated to reach USD 4.01 billion by 2024. Methyl-ethyl-ketone (MEK) is a colourless and a harsh smelling carbon-based compound. It is commonly identified as butanone. It is characterized by outstanding chemical properties including high viscosity, low boiling point, high solvency and high evaporation rate owing to which it is used as a solvent across several applications.

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This liquid has a sweet smell indicated the presence of acetone and butterscotch, hence is produced on a large scale in the industries. Photo-oxidation of air pollutants such as hydrocarbons and butane results in the form of MEK. It is widely used in industrial applications as it is easily soluble in water. The primary usage of MEK is as a solvent in processes involving gums cellulose acetate, resins and cellulose nitrate. Other end use applications where MEK is used include domestic products such as lacquer and varnishes, synthetic rubber, paraffin wax and glues as well as paint remover.

MEK is a liquid solvent used in chemical intermediates, adhesives, printing inks, magnetic tapes and lube oil dewaxing processes. Solvent is suitable for surface coatings that help in reducing emissions from its highly efficiency and versatility. It is used in chemical manufacturing, particularly for drugs and cosmetics. Other uses of MEK include surgical instruments sterilization and vegetable oil extraction. MEK market is expected to be driven in the foreseeable future by its widespread use in industrial sectors including feedstock and intermediate chemical applications such as additives in furniture polishes, rubber based cement, pharmaceuticals and PVC piping applications.

Global Methyl Ethyl Ketone (MEK) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

Paints & coatings
Printing Inks
Adhesives
Others

Key participants of the methyl ethyl ketone market include Arkema S.A., Shell Chemicals, Exxon Mobil, Sasol Solvents, Maruzen Petrochemical Co Ltd., SK Energy Co Ltd., Petro China, Lanzhou Petrochemicals and Idemitsu Kosan Co. Ltd.

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The global market is segmented into four regions: North America, Europe, Asia Pacific, and Row. Asia Pacific is expected to dominate the MEK industry and emerge as the market leader. This can be attributed to the steady growth in paints &coatings market resulting from heavy consumption in manufacturing and construction industries. The European market is anticipated to experience uniform growth trends on account of stringent regulations and increasing concerns regarding health and fitness which are restraining the use of methyl ethyl ketone in this region. Market demand in the U.S is projected to be stable, and the declining prices are expected to further increase its demand in the coming years.

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