Methyl Ethyl Ketone (MEK) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

  • Single User License $3500

Methyl Ethyl Ketone (MEK) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : March, 2023 | Chemical & Materials

Report Digest

Global Methyl Ethyl Ketone (MEK) Market: Overview

Methyl ethyl ketone is a liquid solvent that is utilized widely in chemical intermediates, adhesives, surface coatings, printing inks, lube oil dewaxing agents, and magnetic tapes. It is also utilized as an extraction medium for resins, waxes, oils, and fats. Scope of use across several processes is likely to drive the global methyl ethyl ketone (MEK) market over the tenure of assessment, from 2019 to 2029.

Highly efficient methyl ethyl ketone is extensively utilized as a versatile solvent in surface coatings. Due to its high effectiveness as a solvent, methyl ethyl ketone is particularly valuable in the formulation of high solid coatings, thereby cutting down the emissions from the coating operations.

The global methyl ethyl ketone (MEK) market has been segmented based on applications and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.

Global Methyl Ethyl Ketone (MEK) Market: Notable Developments

The global methyl ethyl ketone (MEK) market has been a witness to many changes in the industry over the last few years. These market developments hint at a trend and future course of the global methyl ethyl ketone (MEK) market. One such development of the market is mentioned below:

  • In May 2019, France-based specialty chemicals and advanced materials firm Arkema SA acquired ArrMaz Custom Chemicals, Inc. The latter is US-based leading specialty surfactants for infrastructure, mining, and crop nutrition. This acquisition is likely to reinforce the position of technical polymers, adhesives, and performance additives. The transaction is likely to better the geographical reach of Arkema SA and diversify its product portfolio.

Some of the leading market players of the global methyl ethyl ketone (MEK) market are

  • Exxon Mobil Corporation
  • Sasol Solvents
  • Royal Dutch Shell PLC
  • PetroChina Company Limited
  • Arkema S.A
  • Maruzen Petrochemical Co., Ltd.

Global Methyl Ethyl Ketone (MEK) Market: Growth Drivers

Increased Demand from the Paints and Coatings Industry to Bolster Demand

The global methyl ethyl ketone (MEK) market is primarily driven by the expansion of the paints and coatings industry. This industry is one of the major end use segments of the global methyl ethyl ketone (MEK) market. Methyl ethyl ketone is an excellent solvent when it comes to the paints and coatings sector. Construction industry is one of the leading consumers of the paints and coatings products.

Augmented spending on the construction activities together with rapid expansion of the automobile industry, particularly in the developing parts of the world has led to increased demand for paints and coatings. The global methyl ethyl ketone (MEK) market is likely to be driven by the high demand for powder coatings in electronics and automobiles industries. Methyl ethyl ketone finds wide use in the making of powder coatings.

In addition, growth in the adhesive and printing ink industry is also likely to favor growth of the global methyl ethyl ketone (MEK) market over the tenure of assessment, from 2019 to 2029. Methyl ethyl ketone is extensively used as a solvent of choice in the printing industry due to the properties of the product. Properties such as excellent adhesion with substrates like glass, plastics, and metal is expected to favor its uptake. In addition, quick drying property of methyl ethyl ketone is also likely to emerge as another growth promoting factor for the market.

Global Methyl Ethyl Ketone (MEK) Market: Regional Outlook

The global methyl ethyl ketone (MEK) market is split into the leading regions of North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific is estimated to lead the market over the tenure of assessment, thanks to the rising demand for the product from countries like Thailand, Indonesia, India, and China. Increased demand from adhesives and printing ink for use in both commercial and residential building constructions in these countries is estimated to spur growth of the regional market.

The global methyl ethyl ketone (MEK) market is segmented as:

By Application

  • Paints and Coatings
  • Printing Inks
  • Adhesives

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?