Global Methyl Ethyl Ketone Market to expand at a robust 4.5% CAGR by 2019

Posted by Jayashri Tryambak Bhadane on May 31st, 2019

A market research report published by Transparency Market Research (TMR) presents a detailed analysis of the global methyl ethyl ketone market. The report is titled “Methyl Ethyl Ketone Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”

The report provides an in-depth and professional analysis of the market and covers forecast for the market on a global as well as a regional level. Methyl ethyl ketone (MEK) is a commonly used solvent in a variety of industrial applications and is highly favored due to its excellent physical and chemical properties such as fast evaporation point, low boiling point, high viscosity and high solvency.

The report states that the global MEK market generated revenues worth US,254.1 mn in 2012. Expanding at a moderate 4.50% CAGR between 2013 and 2019, the market’s revenues are expected to rise to US,064.5 mn by 2019. Key uses of MEK are observed in the paints and coatings industry. The development of the construction and infrastructure industry therefore, has a huge impact on the global MEK market. Over the past few years, high growth observed in the construction industry of the Asia Pacific region, especially in China, has greatly increased the demand for MEK in the global market. Other application areas, including textiles and printing inks are also substantially fuelling the demand from the global MEK market.

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The report segments the global MEK market on the basis of two criteria: key application areas and key regional markets.Based on the area of application, the report segments the global MEK market into paint and coatings, printing inks, plastics, rubber-based industrial cement, and textile. Based on geography, the report studies the market in North America, Asia Pacific, Europe, and the Rest of the World (RoW).

The report states that the application segment of paints and coatings led the global MEK market and generated revenues worth US,223.0 mn in 2012. Rapid development of the construction and infrastructure industries in emerging and developing nations will further boost the paints and coatings industry, thereby significantly increasing the demand for MEK in emerging nations. The demand for MEK is also expected to grow in the printing inks, textiles and plastics industries. Growing packaging and publishing industries will also aid the growth of the global MEK market.
                                   
Whilst flourishing end-use industries present good growth prospects for the global MEK market, the market is expected to witness restraints from the volatility in raw material prices, stringent government regulations regarding disposal, and health issues related with the use of MEK.The Asia Pacific market is the leads the global MEK market. The high demand for MEK from the paints and coats industry, which is driven by the flourishing construction and infrastructure industry in the region, is the chief factor helping Asia Pacific to lead the global MEK market.

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ExxonMobil Chemical, Maruzen Petrochemical Co. Ltd., Zibo QixiangPetrochemical Industry Group Co. Ltd., Arkema S.A., Sasol Solvents, Shell Chemicals, SK Energy Co. Ltd., PetroChina Lanzhou Petrochemicals, and Idemitsu Kosan Co. Ltd. are some of the key producers of MEK.