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Global Methyl Ethyl Ketone Market is expected to Grow at a CAGR of 3.53% by 2030

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ChemAnalyst Research
Global Methyl Ethyl Ketone Market is expected to Grow at a CAGR of 3.53% by 2030

According to ChemAnalyst report, “Global Methyl Ethyl Ketone Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030”, The Methyl Ethyl Ketone market will likely experience a significant rise in the historic period of 2015-22 and is expected to grow at a CAGR of 3.53% during the forecast period by 2030. The rising demand from Paints and Coatings, Printing Inks, Construction, and Pharmaceuticals & Personal Care end-use industries, is expected to swell up the demand for the Methyl Ethyl Ketone market in the forecast period.


Methyl Ethyl Ketone (MEK) is a highly flammable, colorless, stable, volatile liquid of low viscosity. This compound is also known as 2-butanone and has the chemical formula C₄H₈O. Methyl Ethyl Ketone is manufactured mainly by the dehydrogenation of 2-Butanol, catalyzed by Copper or Zinc. It is employed as a solvent for several industrial products including many natural and synthetic resins, although it is partially soluble in water. Methyl Ethyl Ketone extensively used in the production of adhesives, printing inks, lacquers & varnishes, paraffin wax, thinners, cleaning agents, textiles, synthetic rubbers, paint remover, plastics etc.


The primary driver of the Methyl Ethyl Ketone global market is the Paints & Coatings sector. MEK are its utilization as an excellent industrial solvent, as a chemical intermediate, a curing agent and as a plastic welding agent. Most of the total Methyl Ethyl Ketone produced globally is used as a solvent in resins (polyurethane, polyester, acrylic, polychloroprene), vinyl films, gums, and nitrocellulose coatings. Owing to its fast evaporation rate, it is used in the production of rubber based industrial cement. MEK is frequently used in the production of fibreglass and plastics. It serves as a curing agent for fibreglass plastics and unsaturated polyester resins. In this procedure, MEK is referred to as a catalyst for both vinyl and polyester resins. Most of the total Methyl Ethyl Ketone produced globally is used as a solvent in resins (polyurethane, polyester, acrylic, polychloroprene), vinyl films, gums, and nitrocellulose coatings. Methyl Ethyl Ketone also finds applications in pharmaceuticals and personal care sector in the formulations of lotions, anesthetics, antiseptics, and drugs and is projected to boost its demand in the upcoming years.


Read Full Report Here: https://www.chemanalyst.com/industry-report/methyl-ethyl-ketone-market-656


The global Methyl Ethyl Ketone market is segmented based on grade, end-use, sales channel, and region. Based on grade, the Methyl Ethyl Ketone market is segregated into Regular Grade and Urethane Grade that are mostly used as solvents in lacquers and industrial coatings but are also utilized as chemical intermediaries and in adhesives, printing inks, lubricating oil dewaxing, and adhesives. The major applications of MEK are its utilization as an excellent industrial solvent, as a chemical intermediate and as a plastic welding agent.

Based on the end-user industry, the global Methyl Ethyl Ketone market is segmented into Paints and Coatings, Printing Inks, Construction, Pharmaceuticals & Personal Care, and Others. Among these, the Paints and Coatings sector is dominating the Methyl Ethyl Ketone market. In 2022, this sector held about 34% of the market share and is anticipated to dominate the market even in the forecast period. Surging demand for lacquers and varnishes along with paints & coatings from construction sector coupled with the increasing demand for printing inks from the packaging industry is likely to drive the MEK market in the forecast period.


Regionally, the Asia Pacific region is dominating the Methyl Ethyl Ketone market. Due to the enormous demand for this organic compound indirect & intermediate chemical formulations in numerous sectors, paint & coating applications and consumer goods, the demand for MEK is expected to rise significantly over the course of the projection period in APAC. Factors such as blooming construction, packaging, and automobile sectors along with other industries, coupled with growing population and urbanization in the region are expected to boost the Methyl Ethyl Ketone market through 2030.


Request Free Sample Reports: Methyl Ethyl Ketone Market Report


“Global Methyl Ethyl Ketone Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030” Major players in the production of Global Methyl Ethyl Ketone are ExxonMobil Chemical company, Sasol Ltd., Celanese, Oxiteno, Maruzen Petrochemical Co. Ltd., Royal Dutch Shell Plc., Ineos Group, SK Energy Co. Ltd., Idemitsu Kosan Co. Ltd., Zibo Qixiang Tengda Chemical Co., Ltd., Lee Chang Yung Chemical , and others.


“Methyl Ethyl Ketone is majorly used as a solvent in numerous industries. Owing to its properties such as excellent solvency, low boiling point, quick evaporation rate, and low viscosity, MEK finds applications in the preparation of various industrial products such as paints, coatings, lacquers, resins, thinners, cleaning agents, printing inks etc, which are further utilized in numerous end-use industries. With rise in urbanization, the rise in demand for paints & coatings for usage in construction sector is anticipated to expand, creating a demand for Methyl Ethyl Ketone in the forecast period by 2030. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.


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ChemAnalyst is a ‘one stop’ digital platform that offers comprehensive market intelligence data and in-depth analysis of the Indian chemical and petrochemical industry. ChemAnalyst’s team of 100+ analysts are engaged in tracking chemical prices daily, production capacity, demand and supply outlook, manufacturing plant locations, foreign trade data and news/deals for more than 400 major chemicals produced in India. ChemAnalyst is promoted by TechSci Research which is an award-winning research-based management consulting firm providing market research and advisory solutions to the customers worldwide, spanning a range of industries including Chemicals & Material, Automotive, Consumer & Retail, ICT, Energy & Power, Aerospace & Defense, Water and Waste Management, BFSI and more.


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