Methyl Ethyl Ketone (MEK) Market Size, Analytical Overview, Growth factors, Demand, Trends & Forecast (2019-2024)
Category: #business  By Ashwin Naphade  Date: 2020-01-22
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Methyl Ethyl Ketone (MEK) Market Size, Analytical Overview, Growth factors, Demand, Trends & Forecast (2019-2024)

Methyl Ethyl Ketone (MEK) Market size worth over USD 2.8 billion in 2017, is anticipated to reach over USD 4 billion mark by 2024, growing at a CAGR of 4.5% over the period of 2018-2024. Its growing demand in paints & coatings applications due to rise in construction expenditure is anticipated to drive the market growth over the period of 2016-2025. It is also used along with alcohol to produce products like drugs, anesthetics, antiseptics, and lotions. Enhanced crude and downstream supply of petrochemicals is anticipated to boost the MEK market growth over the forecast timeline. Global Methyl Ethyl Ketone (MEK) Market size is anticipated to reach over USD 4 billion mark by 2024 owing to its wide applications in printing inks, paints & coatings, and adhesives. It finds extensive applications in paints & coatings due to its properties like low viscosity, high evaporation rate, and strong solvency. Growing significance of MEK peroxides as catalysts in polymerization of polyester resins as well as a cleaning agent, paint remover, and varnish is expected to drive the industry growth over the coming eight years. Furthermore, it finds extensive applications in printing industry owing to its excellent drying as well as adhesive properties.

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Methyl Ethyl Ketone (MEK) market is expected to reach over USD 4 billion mark by 2024

However, strict ecological norms addressing heath concerns are predicted to inhibit the market growth.

Market is segmented in terms of applications and regions.

The applications segment comprises adhesives, paints & coatings, and printing inks.

Paints & Coatings application segment is forecast to witness a noticeable growth over 2018-2024

It includes solvent-borne coatings, powder coatings, specialty coatings, and waterborne coatings. Growing application of powder coatings in electronics and automotive industries will drive the demand for methyl ethyl ketone.

Printing ink applications segment is projected to witness a substantial growth over the forecast period owing to the extensive use of MEK in printing. MEK allows formation of specialized inks and offers benefits such as exceptional drying as well as adhesion to substrates like glass, plastics and metals.

Asia Pacific Methyl Ethyl Ketone (MEK) Market is expected to dominate the regional demand over 2018-2024

The growth can be attributed to the expansion of construction, electronics, and automotive industries in the Asia Pacific. China and India are predicted to be major revenue pockets of the region.

Market Size in Europe is anticipated to surpass USD 650 million by 2024 owing to strict and expensive product registration norms.

Market Share in North America is expected to witness a moderate growth over the forecast timeline owing to the extensive use of MEK in paints & coatings along with the heavy focus on sustainable technologies and green solvents. The U.S. is predicted to contribute significantly towards the regional growth over the period of 2018-2024.

Key industry players include Shell Chemicals Company, SK Energy Company Limited, Lanzhou Petrochemical Company, Idemistsu Kosan Company, ExxonMobil Corporation, Maruzen Petrochemical Company Limited, PetroChina Company, Arkema Chemicals Company, Zibo Qixiang Industry Group Company Limited, and Sasol Solvents.

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Table of Content
 

Chapter 1         Methodology & Scope

1.1    Research Methodology

1.1.1    Initial data exploration

1.1.2    Statistical modeling and forecast

1.1.3    Industry insights and validation

1.2    List of Data Sources

Chapter 2         Executive Summary

2.1    MEK market snapshot, 2013 - 2024

Chapter 3         MEK Industry Insights

3.1    Market segmentation

3.2    Market size and growth prospects

3.3    Methyl ethyl ketone (MEK) value chain analysis

3.4    Methyl ethyl ketone (MEK) market dynamics

3.4.1    Key growth drivers

3.4.1.1   Growing demand for paints & coatings

3.4.1.2   Growth of pharmaceuticals market

3.4.2    Industry pitfalls & challenges

3.4.2.1   Increasing demand for green solvents

3.4.2.2   Volatile raw material prices

3.5    Key growth opportunities

3.6    Methyl ethyl ketone (MEK) company market share analysis, 2017

3.7    Porter’s analysis

3.8    PESTEL Analysis

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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