Methyl Ethyl Ketone Market projected $3,150.0 Mn globally, by 2021, with 4.5% CAGR

Methyl Ethyl Ketone Market projected $3,150.0 Mn globally, by 2021, with 4.5% CAGR
Methyl Ethyl Ketone Market
Methyl Ethyl Ketone Market

According to the report, global demand for methyl ethyl ketone was valued at USD 2,450.0 million in 2014 and is expected to reach USD 3,150.0 million in 2020, growing at a CAGR of around 4.5% between 2015 and 2020. In terms of volume, the global methyl ethyl ketone market stood at 1,375.0 kilotons in 2014. Zion Market Research has published a new report titled “Methyl Ethyl Ketone Market for Printing Inks, Paints & Coatings and Other Applications: Global Industry Perspective, Comprehensive An, lysis and Forecast, 2014 – 2020.”

Methyl ethyl ketone is a colorless solvent generally produced in industries from oxidation method. The methyl ethyl ketone is also referred as butanone. This compound offers some physical and chemical properties such as high flammable, viscous, can be dissolved in water and other solvents easily and get slow evaporated.

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This attribute makes the methyl ethyl ketone more useable solvents. Thus, it has the broad range of applications such as the erasable dye, resins, plastics, films and coatings, rubber, paraffin wax, alcohols, varnishes, and others.

Growing demand for paints and coatings in automotive and construction is expected to remain a key driving factor for the global methyl ethyl ketone market. This growth is attributed to emerging market in Asia Pacific region. High penetration of methyl ethyl ketone particularly in pharmaceutical applications is also expected to boost the demand for methyl ethyl ketone during the forecast period. However, environmental concerns are expected to be a major restraint of the market.

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Key application areas for methyl ethyl ketone include printing inks, paints & coatings and other applications. Other applications include chemical intermediaries, textiles, resins thinner, plastics and PVC piping. Paints and coatings were the largest application segment for methyl ethyl ketone market in 2014, which accounted for about 50% share of the overall market. In addition, methyl ethyl ketone is expected to witness the fastest growth from the printing inks application segment owing to rising demand from food and packaging industry.

Asia Pacific held dominating the regional market for methyl ethyl ketone owing to high consumption from emerging countries such as China and India. It accounts for over 45% share of the overall market volume consumption in 2014. It is also expected to continue this trend in the years to come due to growing automotive industry. North America and Europe are mature markets for methyl ethyl ketone. Hence, they are estimated to grow at the sluggish rate over the forecast period.

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Some of the key players of global methyl ethyl ketone market involve PetroChina Lanzhou Petrochemicals, SK Energy, ExxonMobil Chemical, Tasco Chemical, Sasol Solvents, Tonen Chemical and amongst others.