Methyl Ethyl Ketone Market

Gain valuable insights into the market for Methyl Ethyl Ketone, including sales outlook, demand forecast, and up-to-date key trends

Growing demand for adhesives and coatings propelling market expansion

Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-6800 Format: PDF Pages: 275

Report Highlights

According to a research survey conducted by ChemView Consulting, Methyl Ethyl Ketone Market is estimated to be worth US$ 5.51Bn in 2023. The market is expected to grow at a CAGR of 4.90 % between 2023 and 2033 to hit US$ 8.89 Bn by 2033 end.

Key Market Trends

Going Green: The Rise of Low-VOC Methyl Ethyl Ketone in Industrial Applications

The Methyl Ethyl Ketone (MEK) market is witnessing a significant shift towards low-VOC (volatile organic compound) formulations due to increasing environmental concerns and regulatory pressures. Low-VOC MEK products are gaining popularity in various industrial applications, such as coatings, adhesives, and printing inks, as they emit fewer pollutants and are considered safer for human health. This trend is expected to continue in the coming years, with manufacturers investing in R&D to develop more sustainable and eco-friendly MEK products.

Smart Manufacturing Transforms Methyl Ethyl Ketone Production

The adoption of Industry 4.0 technologies, such as the Industrial Internet of Things (IIoT) and artificial intelligence (AI), is revolutionizing the way chemicals like methyl ethyl ketone are produced. Smart manufacturing processes are being developed to optimize production efficiency, reduce waste and emissions, and increase product quality. These processes involve the integration of sensors, advanced analytics, and real-time monitoring to enable rapid decision-making and dynamic process control.

Market Drivers

Increasing Demand from Paints and Coatings Industry to Propel Methyl Ethyl Ketone Market Growth

Methyl Ethyl Ketone (MEK) is a colorless, flammable liquid with a sweet odor, widely used as a solvent in various industries such as paints and coatings, adhesives, and printing inks. The MEK market is expected to witness significant growth in the coming years due to the increasing demand for paints and coatings from the construction and automotive industries. The growing popularity of eco-friendly paints, which use MEK as a key component, is also expected to drive market growth. MEK is known for its excellent solvency power, low toxicity, and high evaporation rate, making it a preferred choice for paints and coatings formulations.

Increasing Demand for Adhesives and Sealants to Boost Methyl Ethyl Ketone Market

Methyl Ethyl Ketone (MEK) is a key solvent used in the production of adhesives and sealants. It provides excellent solvency power, fast evaporation rate, and low viscosity, making it a preferred choice for various adhesive formulations. The growing demand for adhesives and sealants from various end-use industries such as automotive, construction, and packaging is expected to drive the growth of the MEK market in the coming years.

Segmentation Insights

After conducting a thorough analysis of the Methyl Ethyl Ketone Market, we have identified the top three trending segments in the industry. These segments are experiencing high demand, strong market growth, and widespread adoption.

Most Popular (Fastest Growth Rate)

Solvents – Paints & Coatings Industry

Solvents have emerged as the most popular application in the Methyl Ethyl Ketone Market for the Paints & Coatings Industry. Solvents are used to dissolve the resin and pigment in the coating, making it easier to apply and ensuring a smooth, even finish. The high solvency power and compatibility of solvents with a variety of coatings make them the preferred choice for consumers seeking efficient and effective solutions in the paints & coatings industry.

Most Selling (Largest Market Share)

Resins – Rubber Industry

Resins are the most selling product in the Methyl Ethyl Ketone Market for the Rubber Industry. Resins are used as a binding agent to strengthen and enhance the performance of rubber products such as tires, belts, and hoses. The high durability and adhesion properties of resins make them the go-to choice for consumers seeking reliable and effective solutions in the rubber industry.

Trending (Gaining Traction)

Inks – Packaging Industry

Inks are gaining significant traction in the Methyl Ethyl Ketone Market for the Packaging Industry. Inks are used to print on a variety of packaging materials such as paper, cardboard, and plastic films. The fast drying time and excellent print quality of inks make them the trending choice for consumers seeking high-quality printing solutions in the packaging industry.

Regional Insights

Asia-Pacific Emerges as the New Hub for Methyl Ethyl Ketone Production

The Asia-Pacific region is witnessing a rapid expansion of MEK production capacities, driven by increasing demand from the construction, automotive, and packaging industries. China, India, and Japan are the leading producers and consumers of MEK in the region, with several new plants being set up to cater to the growing demand. The trend is expected to continue, with Asia-Pacific accounting for a significant share of the global MEK market in the coming years. The increased production capacities in the region are also expected to lead to a decline in MEK prices globally, making it more accessible to end-users.

Growing demand for adhesives and coatings driving Methyl Ethyl Ketone market in North America

The Methyl Ethyl Ketone (MEK) market in North America is being driven by a range of factors, including the growing demand for adhesives and coatings in various end-use industries such as automotive, construction, and packaging. MEK is a colorless and flammable solvent that is widely used in the manufacturing of various chemicals and products, including adhesives, coatings, printing inks, and PVC.

In recent years, the use of MEK-based adhesives and coatings has been on the rise due to their superior performance characteristics, such as fast drying, good adhesion, and resistance to heat and chemicals. This has led to a significant increase in the demand for MEK in North America.

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Report Includes

Research Scope/Taxonomy
Market Analysis by Application:

  • Solvents
  • Resins
  • Inks
  • Adhesives
  • Others

Market Analysis by End Use:

  • Paints & Coatings
  • Rubber
  • Packaging
  • Artificial Leather
  • Others

Analyst Credentials

Key Companies Profiled

  • AkzoNobel N.V.
  • Arkema S.A.
  • Sasol Solvents
  • ExxonMobil Chemical
  • Shell Chemicals
  • Cetex Petrochemicals
  • Ineos Solvents
  • PetroChina Lanzhou Petrochemicals
  • Idemitsu Kosan Co. Ltd
  • Tonen Chemicals
  • SK Energy Co. Ltd

1.1. Global Market Snapshot

1.2. Key Success Factors

1.3. Strategic Analysis and Recommendations

2.1. Market Taxonomy

2.2. Market Definitions

3.1. Preliminary Investigation & Research Design

3.2. Secondary Research & Primary Research

3.3. Data Analysis & Econometric Modelling

3.4. Expert Data Validation

4.1. Supply-Side Trends

4.2. Demand-Side Trends

5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032

5.2. Incremental $ Opportunity Index, 2022-2032

5.3. Global Market Volume (Tons) Analysis, 2017 – 2032

6.1. Regional Level Pricing Analysis and Forecast

6.1.1. Manufacturers Level Pricing

6.1.2. Distributor Level Pricing

6.2. Global Pricing Analysis Benchmark

6.3. Cost Breakdown Analysis

7.1. Cross Analysis of Application W.R.T. End Use

8.1. Regional Supply Vs. Demand Gap Assessment

8.2. Top Producing Countries Analysis

9.1. Macroeconomic Factors

9.2. Forecast Factors

9.3. Market Dynamics

9.3.1. Driver

9.3.2. Restraint

9.3.3. Opportunity

9.4. Supply Chain Analysis

9.4.1. List Raw Material Suppliers

9.4.2. List of Manufacturers

9.4.3. List of Distributors

9.4.4. List of End-Users

9.4.5. End-Users Consumption Analysis

9.4.6. Average Profitability Margin Analysis

9.5. Covid-19 Impact Assessment

9.5.1. Economy/Cluster Projections

9.5.2. Covid-19 Economic Assessment

9.5.3. Impact on Target Market

9.5.4. Recovery Scenario

9.6. Regulatory Framework

9.6.1. Regulations of Key Countries

9.6.2. Potential Impact of Regulations

9.7. Porter’s Five Forces Analysis

9.8. Technology Landscape

10.1. Introduction

10.2. Key Market Trends

10.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]

10.3.1. Solvents

10.3.2. Resins

10.3.3. Inks

10.3.4. Adhesives

10.4. Market Attractiveness Analysis by Application

11.1. Introduction

11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End Use [Value (US$ Mn) and Volume (Tons) Analysis]

11.2.1. Paints & Coatings

11.2.2. Rubber

11.2.3. Packaging

11.2.4. Artificial Leather

11.2.5. Others

11.3. Market Attractiveness Analysis by End Use

12.1. Introduction

12.2. Key Market Trends

12.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]

12.3.1. North America

12.3.2. Latin America

12.3.3. Europe

12.3.4. Asia-Pacific

12.3.5. Middle East

12.3.6. Africa

12.4. Market Attractiveness Analysis by Region

13.1. Introduction

13.2. Key Market Trends

13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

13.3.1. By Country U.S. Canada

13.3.2. By Application

13.3.3. By End Use

13.4. Market Attractiveness Analysis

13.4.1. By Country

13.4.2. By Application

13.4.3. By End Use

14.1. Introduction

14.2. Key Market Trends

14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

14.3.1. By Country Brazil Mexico Rest of Latin America

14.3.2. By Application

14.3.3. By End Use

14.4. Market Attractiveness Analysis

14.4.1. By Country

14.4.2. By Application

14.4.3. By End Use

15.1. Introduction

15.2. Key Market Trends

15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

15.3.1. By Country Germany Italy France UK Spain Netherlands Norway Russia Rest of Europe

15.3.2. By Application

15.3.3. By End Use

15.4. Market Attractiveness Analysis

15.4.1. By Country

15.4.2. By Application

15.4.3. By End Use

16.1. Introduction

16.2. Key Market Trends

16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

16.3.1. By Country China Japan South Korea India Indonesia Thailand Vietnam Australia & New Zealand Rest of Asia-Pacific

16.3.2. By Application

16.3.3. By End Use

16.4. Market Attractiveness Analysis

16.4.1. By Country

16.4.2. By Application

16.4.3. By End Use

17.1. Introduction

17.2. Key Market Trends

17.3. Pricing Analysis

17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

17.4.1. By Country Saudi Arabia Turkey U.A.E. Rest of the Middle East

17.4.2. By Application

17.4.3. By End Use

17.5. Market Attractiveness Analysis

17.5.1. By Country

17.5.2. By Application

17.5.3. By End Use

18.1. Introduction

18.2. Key Market Trends

18.3. Pricing Analysis

18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

18.4.1. By Country South Africa Nigeria Egypt Rest of Africa

18.4.2. By Application

18.4.3. By End Use

18.5. Market Attractiveness Analysis

18.5.1. By Country

18.5.2. By Application

18.5.3. By End Use

19.1. Tier Structure Breakdown

19.2. Market Share Analysis

19.3. Application Capacity Analysis

19.4. Company Footprint Analysis

19.4.1. Product Footprint of Players

19.4.2. Regional Footprint of Players

19.4.3. Channel Footprint of Players

19.5. Brand Preference Analysis

19.6. Competition Dashboard

20.1. AkzoNobel N.V.

20.1.1. Company Overview

20.1.2. Product & Financial Portfolio

20.1.3. Manufacturing Facilities

20.1.4. Recent Developments

20.1.5. SWOT Analysis

20.1.6. Strategy Overview

20.2. Arkema S.A.

20.3. Sasol Solvents

20.4. ExxonMobil Chemical

20.5. Shell Chemicals

20.6. Cetex Petrochemicals

20.7. Ineos Solvents

20.8. PetroChina Lanzhou Petrochemicals

20.9. Idemitsu Kosan Co. Ltd

20.10. Tonen Chemicals

20.11. SK Energy Co. Ltd