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 Analysis, and Forecast, 2014 – 2020.” 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 kilo tons in 2014.
Methyl ethyl ketone is an organic compound produced from oxidation process. The methyl ethyl ketone is also known as butanone. The methyl ethyl ketone is used as a common solvent on commercial bases. It is largely produced in industries as well as it is also found in nature on small extent. It has a sweet odor and also used as a flavoring agent. The main application of this solvent includes films and coatings, resins, paraffin wax, plastics, dye industries and others.
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The methyl ethyl ketone market is mainly driven by the growing automotive and infrastructure industries, especially in Asia Pacific region. This growth is attributed to rapid industrialization coupled with rising disposable income in emerging countries such as India, China, and Brazil. Growing demand of methyl ethyl ketone in pharmaceutical and rubber industries are expected to boost the market growth during the forecast period. However, environmental regulations are major challenges that may hinder the growth of the methyl ethyl ketone market.
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On the basis of application, methyl ethyl ketone market can be segmented as printing inks, paints & coatings and other applications. In 2014, paints and coatings held as a leading application segment for methyl ethyl ketone market and accounted around 50% share for the entire market. In addition, printing inks are projected to witness significant growth over the forecast period due to rising demand form food and packaging industries.
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Asia Pacific emerged as the leading regional market for methyl ethyl ketone. Asia Pacific accounted over 45% of total methyl ethyl ketone volume consumed in 2014. Advancing technologies and trends contributes to the growth of automotive industries, especially in Asia Pacific region. Hence, this region is likely to remain to prolong regional segment for methyl ethyl market. In addition, North America and Europe are the developed market for methyl ethyl ketone and are estimated to grow at the sluggish rate in the years to come.
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.
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