Increasing demand for methyl ethyl ketone in the online retailing business, coupled with high investment in R&D of methyl ethyl ketone, is fueling the market growth.
Methyl Ethyl
Ketone Market Overview, – USD 3.07 Billion in 2018, Market Growth - CAGR of
5.3%, Market trends – Increase in demand for methyl ethyl ketone in the paints
& coatings applications.
The Global Methyl Ethyl Ketone Market Overview, is forecast to reach USD 4.93
Billion by 2027, according to a new report by Reports and Data. The Methyl
Ethyl Ketone (MEK) is an aliphatic ketone with a colorless or pale yellow
shade, flammable, highly water-soluble industrial and commercial chemical with
a strong, pungent odor. Methyl ethyl ketone is mostly used as a solvent in the
manufacturing of surface coating applications and also widely utilized as an
intermediate solvent chemical in the formulation of various chemical
processing. Paints, inks, synthetic resin, varnishes, surface coating, and
denaturant, food flavoring in many ethanol formulations are some of its
chemical applications. Methyl ethyl ketone, for its combination of high solvent
activity with low density, is very useful in developing high-solid coatings and
highly demanded in the coating industry. The continuous expansion of the paint
& coatings, varnishes, adhesives, inks, food flavoring agent, and
food-contact packaging products are expected to drive the demand throughout the
forecast period.
Key
participants include LCY Chemical Corp., ExxonMobil, Royal Dutch Shell PLC,
Maruzen Petrochemicals, Arkema S.A, Celanese Corporation, Eastman Chemical
Company, Petro China, Sasol Limited, and ISU Chemical.
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Further key findings from the report
suggest
- Methyl ethyl ketone is a synthetic
chemical compound used in the direct solvent and widely used in the direct
chemical formulations. Specialty coating, powder coating, waterborne
coatings, inks, varnishes, lacquers, direct extraction agent in the
dewaxing & deoiling of the petroleum products are some of its end-use
applications. The direct solvent is forecasted to reach a market share of
34.5% by 2027 growing with a rate of 5.6% during the period 2019 – 2027.
- Chemical intermediate segment is
measured to grow at the CAGR of 5.2% in the forecast period. Methyl ethyl
ketone is utilized as the active chemical & organic intermediate in
plasticizer & plastics manufacturing.
- Growing penetration of the online
retailing businesses for the chemicals and materials, especially in the
emerging nations in Asia Pacific, is helping the market grow by broadening
the outreach in the areas where the offline vendors are unavailable. Also,
non-involvement of the distributors in the supply chain model, the profit
margin is way more than that of the offline retailing. The online retailing
is expected to gain a market share of 34.1% by 2027.
- Europe would reach a market share of
20.5% by 2027 and would grow at a CAGR of 4.9% in the forecast period.
Netherland and France have some of the valuable players in this region.
- North America is forecasted to
witness significant growth in the overall market, with 25.7% of market
possession by 2027 and CAGR of 5.8% during the forecast period. US
possesses the highest market share in this region and some of the vital
player of the market.
To identify the key trends in the
industry, click on the link below: @
https://www.reportsanddata.com/report-detail/methyl-ethyl-ketone-market
For the purpose
of this report, Reports and Data have segmented the global Methyl Ethyl Ketone
Market Overview, on the basis of the
end-use, sales channel, applications, and region:
End-Use
Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Direct Solvent
- Chemical Intermediate
- Chemical Reagents
- Others
Sales Channel
Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Online Retailing
- Offline Retailing
Applications
Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Paints & Coatings
- Rubber & Adhesive
- Chemical & Pharmaceuticals
- Food Packaging & Flavoring
- Others
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Regional
Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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