A recent report published by Infinium Global Research on methyl ethyl ketone market provides an in-depth analysis of segments and sub-segments in the global as well as regional methyl ethyl ketone market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional methyl ethyl ketone market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global methyl ethyl ketone market. According to the report, the global methyl ethyl ketone market is projected to grow at a CAGR of 5.28% over the forecast period of 2019-2025.
Several chemicals are produced from crude oil, which is also known as petrochemicals. These chemicals are used for numerous applications in various end-use industries. Methyl ethyl ketone (MEK) is one of the petrochemicals which is primarily used as a solvent in different industries. Methyl ethyl ketone is primarily used as a solvent for paint & coating and resin industry. The methyl ethyl ketone market is highly concentrated and consolidated in nature. The major players in the market account for more than half of the total market share. The key market players including Exxon Mobil Corporation, Royal Dutch Shell PLC, Maruzen Petrochemical Co., Ltd., Sasol Limited, Arkema Group, SK Energy Co. Ltd. and others are focused on strategic mergers and acquisitions of the local players.
The increase in the application and acceptance of methyl ethyl ketone among end-user industries is majorly driving the global methyl ethyl ketone market. The methyl ethyl ketone is primarily used as a solvent for various end-user industries. Moreover, the rise in demand for paints and coatings in the automotive and construction sector is expanding the growth of the methyl ethyl ketone market. Furthermore, the exponentially growing pharmaceutical industry is expected to boost the methyl ethyl ketone market. In combination with alcohol, methyl ethyl ketone is used in the pharmaceutical industry to manufacture products such as anesthetics, antiseptics, lotions, and medical drugs. However, stringent regulations on methyl ethyl ketone due to its toxicity is the major restraining factor for the growth of the methyl ethyl ketone market. Nevertheless, the declining prices of crude oil and its downstream derivatives are expected to offer lucrative opportunities for the key players in the methyl ethyl ketone market.
In terms of region, Asia Pacific held the highest market share, dominating the global methyl ethyl ketone market. The dominance of the Asia Pacific market attributed to the high demand from printing inks sector in emerging countries including China, India, Indonesia, and Thailand. Moreover, the increasing demand for adhesives and printing inks from residential and commercial building constructions is expected to boost the growth of the methyl ethyl ketone market in this region.
The report on global methyl ethyl ketone market covers segments such as application. On the basis of application, the sub-markets include paints & coatings, printing inks, adhesive, solvent, and other applications.
The report provides profiles of the companies in the market such as Exxon Mobil Corporation, Royal Dutch Shell PLC, Maruzen Petrochemical Co., Ltd., Sasol Limited, Arkema Group, SK Energy Co. Ltd., Tasco Chemical Corporation, INEOS Limited, Lanzhou Petrochemical Company, Tonen Chemical Corporation, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of methyl ethyl ketone market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.