Press release
2-Butanone Market Segments, Opportunity, Growth and Forecast By End-use Industry 2018-2028
2-Butanone is an organic compound from a family of ketones that are found in trace amounts in nature. It is produced by few trees as well as found in certain vegetables and fruits. 2-Butanone is also known by names such as methyl ethyl ketone (MEK), butanone, butan-2-one, etc. It is a colourless liquid which has a sharp and sweet odour that resembles butterscotch or acetone. 2-butanone can be released from automobile exhaust. It is commercially produced by the catalytic dehydrogenation of 2-butanol and it can be also extracted by fractionation in Fischer-Tropsch reaction. 2-Butanone has various applications across different industries. However, among other applications, 2-Butanone is mainly used as a solvent in several industries. It is one of the components used in the production of solvent systems used for magnetic tapes. 2-Butanone is also used as an adhesive as well as a de-waxing agent. It is also used for degreasing metal surfaces, especially in the aerospace industry. Due to its wide applications, 2-butanone is gaining interest from many industries.
However, 2-Butanone is considered a hazardous air pollutant by some regions. It has the ability to potentiate the toxicity of other solvents and it is highly flammable in nature. Owing to these factors, regulations are being imposed on the exposure limit of 2-Butanone.
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2-Butanone Market: Dynamics
Growth in population and urbanization is driving the growth of the construction industry, which is increasing the demand for paints and coatings. As the paints and coatings market is growing, the demand for 2-butanone is increasing, which is boosting the market. Increasing global transportation and the rising demand for automobiles is boosting the aerospace and automotive industry. The growth of these industries is increasing the consumption 2-butanone as it is a degreasing agent for metal surfaces, which is propelling the market. Apart from these industries, the growth of chemical & polymer industries is very rapid in this modern world, which is leading to the growth of the market because of its application in various chemical and polymer processing processes. Growth in population is also boosting the production of the textile industry, which is boosting the 2-butanone market because of its use in textile processing.
However, due to regulations governing the level of exposure of 2-butanone because of its flammable nature and health effects, companies are in the search of alternatives. In addition, it has been enlisted as table 2 precursor under the name of United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances. These are some of the factors restraining the growth of the market.
2-Butanone Market: Regional Outlook
Paints and coating industries are growing at a healthy pace in the Asia Pacific region, along with industries such as chemicals, plastic and polymer processing in countries such as India and China, along with other APAC countries. The automotive industry is growing in countries such as Japan and other APAC countries. Hence, this region is a prominent market for 2-butanone.
North America and Western Europe are mature markets that are steadily growing. These regions are steady markets for 2-butanone because of the presence of large automotive and chemical industries. Regions such as Latin America and Eastern Europe are registering lucrative growth, which makes them potential markets for 2-butanone. 2-Butanone is used in oil and lubricants industries in the MEA regions, which are growing at a healthy pace, thus making this region a lucrative market for 2-Butanone.
2-Butanone Market-Key Participants: Key participants in the global 2-Butanone market include are Maruzen Petrochemical Co., Ltd., Prasol Chemicals Pvt. Ltd., Exxon Mobil Corporation, Tonen, Shell Chemicals, Idemitsu Kosan Co., Ltd., Oxiteno, Cetex Petrochemicals, SK Group, Sasol, Petrobrazi etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
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