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What's driving the Methyl Isobutyl Ketone Market Size? | Key Players Are Shell, The Dow Chemical Company, Sasol, Arkema, Sigma-Aldrich, Celanese, Mitsui Chemicals Group, Eastman Chemical Company, Mitsubishi Chemical America
Methyl Isobutyl Ketone (MIBK) Market
Rising demand of methyl isobutyl ketone for rubber processing chemicals in automotive and construction industry in order to improve the oxidation, resistance of rubber to heat, mechanical stresses and hardness of rubber, that will advance its properties for various end-use applications. Moreover, MIBK is also used as a solvent for surface coating applications in these industries. Increasing importance of the product in these industries will boost methyl isobutyl ketone market growth globally.
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Methyl isobutyl ketone is an effective solvent for synthetic resins, which makes it useful in improving high-solid coatings owing to its combination of low density, and high solvent property. Furthermore, MIBK possessing high dilution ratio makes it an appropriate solvent for coatings, inks and adhesives; Low surface tension and water miscibility makes it a decent extraction agent in the de-oiling and dewaxing of petroleum products. Likewise, its use in manufacture of fungicides, germicides, electroplating solutions, pharmaceuticals and as a denaturant in several ethanol formulations, which will propel the product demand in the near future.
Being highly toxic in nature when exposed to air, that may cause serious impacts to human health and environment, which may hinder the methyl isobutyl ketone market growth of product for the projected timespan. Nevertheless, these adverse properties of the MIBK is driving the adaption and importance of bio based MIBK, that are cost-effective and eco-friendly in nature. This shift towards the eco-friendly MIBK will generate copious opportunities in the near future.
MIBK based on applications, the methyl isobutyl ketone market is categorized into solvent, rubber processing chemical, extraction solvent, surfactants and other applications that include insecticides, denaturant, fertilizers, etc. Surfactants here is projected to grow at suitable rate to exceed USD 35 million by the end of projected timespan. The rapid growing automotive, marine and construction industry continuously demand the use of MIBK as a surfactant for cleaning, dispersing, wetting, foaming, emulsifying and anti-foaming that is likely to trigger the product need in the coming years.
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MIBK based in end-user, the methyl isobutyl ketone market is categorized into paints & coatings, automotive, pharmaceuticals, agrochemicals and other end-user that includes marine, building & constructions, etc. Automotive here is expected to grow at significant rate to exceed USD 145 million mark by the end of 2025. The rising demand for rubber processing in the segment is likely to drive the product demand in the near future.
Middle East & Africa is expected to cross a CAGR of 3.5% by revenue for the projected timespan. This is due to countries in the region such as Saudi Arabia, UAE, Kuwait are likely to provide profitable opportunities for the product market owing to the increasing demand for commercial infrastructure and development activities in the region.
Key product competitors in market are Kumho P&B, The Dow Chemical Company, Arkema Group, Royal Dutch Shell, Mitsubishi Chemicals, Sasol, Sigma-Aldrich, Chemicals Inc., Mitsui Chemicals, Celanese Corporation, LCY Group, Eastman Chemical Company, Lee Chang Yung Chemical and Jilin Chemicals.
Browse key industry insights spread across 253 pages with 371 market data tables & 22 figures & charts from the report, “Methyl Isobutyl Ketone Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/methyl-isobutyl-ketone-market
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