Press release
Global Methyl Ethyl Ketone Market Trends by Key Players: ExxonMobil, Sasol, Idemitsu Kosan Co Ltd., Zibo Qixiang
Methyl Ethyl Ketone Market
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Steady automotive demand, on account of recovery from economic downturn in North America and Asia will also impact industry growth positively. Pharmaceutical and personal care industrial applications include manufacturing antiseptics, anesthetics, lotions, and drugs.
Strong application scope in personal care and pharmaceutical industries owing to usage of MEK in production of anesthetics, antiseptics, drugs and lotions. Presence of sophisticated healthcare infrastructure in Europe and the U.S. along with increase in pharmaceutical and personal care industry on account of rising healthcare spending in Asian countries may propel global methyl ethyl ketone market.
Paints & coatings applications from MEK market may surpass USD 2 billion by 2022. Paints & coatings include waterborne coatings, solvent borne coatings, powder coatings and specialty coatings. Growth of automobile industry along with increasing construction spending in Asia Pacific and Middle East has resulted into increase in demand for paints & coatings application. Increase in demand for powder coatings from automotive industry may stimulate methyl ethyl ketone market growth.
Printing inks application may witness gains at over 4.5% by the end of the forecast timeframe. MEK is widely used as solvent in printing industry owing to adhesion with substrate such as plastics, glass and metal, excellent drying time and specialized inks formulation. Positive application outlook of printing inks from food processing, packaging, publishing, pharmaceutical and personal care industries may drive methyl ethyl ketone market.
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APAC leads the regional demand, being the largest construction and infrastructure market in the world. The region is dominated by China and India methyl ethyl ketone market share, with total revenue of USD 1.35 billion in 2014.
U.S. MEK demand is primarily driven by its usage in paints & coatings, with emphasis concentrated on using sustainable technologies, green solvents are expected to outpace methyl ethyl ketone demand in the region.
Europe Methyl Ethyl Ketone (MEK) market size is poised to exceed USD 600 million in revenue by 2022. The region is heavily regulated, with product registration guidelines being very strict and relatively expensive.
Global methyl ethyl ketone market share is consolidated with key market players include Maruzen Petrochemicals, Zibo Qixiang, Sasol Solvents, ExxonMobil, Arkema, Shell Chemicals, Lanzhou Petrochemicals, Petro China, SK Energy and Idemistsu Kosan. Methyl ethyl ketone market shows a high degree of integration by major producers across the value chain, where most of the manufacturers are involved in production of raw material.
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