The global methyl ethyl ketone market size reached US$ 3.8 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 5.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2023-2032.
Methyl ethyl ketone (MEK), or 2-butanone, refers to a highly volatile organic liquid that is used as a commercial cleaner and solvent for glues, paints, coatings, synthetic rubber, paraffin wax and printing inks. It is produced by the dehydrogenation of secondary butyl alcohol and can also be manufactured as a by-product of butane oxidation. MEK is primarily utilized for the extraction of fats, oils, waxes and resins and acts as a low-boiling solvent for nitrocellulose, acrylic and vinyl surface coatings. It also aids in removing oil paint finish and contact cement from surfaces and manufacturing solvent-based inks for high-resolution commercial printing in newspapers, books and labels.
Rapid industrialization across the globe is one of the key factors driving the growth of the market. In line with this, widespread adoption of MEK as an industrial solvent for the production of quick-drying, water- and powder-based paints and printing inks that are used with substrates such as metals, glass and plastics, is significantly contributing to the market growth. Furthermore, the increasing product utilization in the pharmaceutical industry is also providing a boost to the market growth. MEK enhances the penetration rate of medicinal drugs and breaks down the structure of quaternary proteins in the body. As a result, there has been a rise in its utilization in the production of antiseptics, aesthetics, lotions and other personal care products. Other factors, including the extensive usage of MEK-based inks in the construction and automotive industry, along with the increasing government investments for infrastructural developments, are projected to drive the market further.
Adhesives and Thinners
Printing Inks
Pharmaceuticals
Others
Solid Form
Urethane Grade
Others
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
What are the key regional markets?
What has been the impact of COVID-19 on the global methyl ethyl ketone market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the form?
What is the breakup of the market based on the grade?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global methyl ethyl ketone market and who are the key players?
What is the degree of competition in the industry?
Methyl ethyl ketone (MEK), or 2-butanone, refers to a highly volatile organic liquid that is used as a commercial cleaner and solvent for glues, paints, coatings, synthetic rubber, paraffin wax and printing inks. It is produced by the dehydrogenation of secondary butyl alcohol and can also be manufactured as a by-product of butane oxidation. MEK is primarily utilized for the extraction of fats, oils, waxes and resins and acts as a low-boiling solvent for nitrocellulose, acrylic and vinyl surface coatings. It also aids in removing oil paint finish and contact cement from surfaces and manufacturing solvent-based inks for high-resolution commercial printing in newspapers, books and labels.
Rapid industrialization across the globe is one of the key factors driving the growth of the market. In line with this, widespread adoption of MEK as an industrial solvent for the production of quick-drying, water- and powder-based paints and printing inks that are used with substrates such as metals, glass and plastics, is significantly contributing to the market growth. Furthermore, the increasing product utilization in the pharmaceutical industry is also providing a boost to the market growth. MEK enhances the penetration rate of medicinal drugs and breaks down the structure of quaternary proteins in the body. As a result, there has been a rise in its utilization in the production of antiseptics, aesthetics, lotions and other personal care products. Other factors, including the extensive usage of MEK-based inks in the construction and automotive industry, along with the increasing government investments for infrastructural developments, are projected to drive the market further.
Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global methyl ethyl ketone market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on application, form and grade.Breakup by Application:
Paints and CoatingsAdhesives and Thinners
Printing Inks
Pharmaceuticals
Others
Breakup by Form:
Liquid FormSolid Form
Breakup by Grade:
Regular GradeUrethane Grade
Others
Breakup by Region:
North AmericaUnited States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Arkema, Cetex Petrochemicals, Cosmo Energy Group, ExxonMobil Corporation, Fushun Petrochemical Company, Ineos Solvents, Maruzen Petrochemical, Nouryon, Royal Dutch Shell Plc, Sasol, Tasco Chemicals, Zibo Qixiang Petrochemical Industry Group Co. Ltd., etc.Key Questions Answered in This Report:
How has the global methyl ethyl ketone market performed so far and how will it perform in the coming years?What are the key regional markets?
What has been the impact of COVID-19 on the global methyl ethyl ketone market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the form?
What is the breakup of the market based on the grade?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global methyl ethyl ketone market and who are the key players?
What is the degree of competition in the industry?
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 Global Methyl Ethyl Ketone Market
6 Market Breakup by Application
7 Market Breakup by Form
8 Market Breakup by Grade
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Arkema
- Cetex Petrochemicals
- Cosmo Energy Group
- ExxonMobil Corporation
- Fushun Petrochemical Company
- Ineos Solvents
- Maruzen Petrochemical
- Nouryon
- Royal Dutch Shell Plc
- Sasol
- Tasco Chemicals
- Zibo Qixiang Petrochemical Industry Group Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.8 Billion |
| Forecasted Market Value ( USD | $ 5.6 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
