Methyl Ethyl Ketone (MEK) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Methyl Ethyl Ketone (MEK) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
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 study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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