According to Stratistics MRC, the Global Methyl Ethyl Ketone (MEK) market accounted for $2.58 billion in 2015 and is expected to grow at a CAGR of 5.01% to reach $3.64 billion by 2022. The demand in the textiles, printing inks, and plastics industries for MEK is anticipated to increase. Moreover, growing packaging industries will serve the market growth. Furthermore, increasing usage of MEK in pharmaceutical applications shows a positive impact on the market growth. Whereas, factors such as strict government regulations, volatility in raw material prices and increasing environmental concerns are hindering the market growth.
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Paints and coatings application segment dominated the global market accounting for more than 50% of the total volume in 2015 owing to rising construction spending in Asia Pacific. Printing inks is estimated to grow at a highest CAGR of 5.5% during the forecast period. The demand for MEK in printing inks is due to increasing demand from food and packaging industry. Asia Pacific is the leading regional market which accounted for around 58% of the total market in 2015 with a highest CAGR of 5.4% during the forecast period. Increasing infrastructure spending coupled with growth in manufacturing and automotive industry, mainly in China and India is anticipated to augment the market growth. China is the major importer and exporter of Methyl Ethyl Ketone (MEK). Huge manufacturers wanted to set up their production facilities in China due to the low cost, cheap labor, and skilled workforce.
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Some of the key players in the methyl ethyl ketone market include Arkema S.A., Shell Chemicals, Royal Dutch Shell, Exxon Mobil, Celanese Corporation, SK Energy Co Ltd., Idemitsu Kosan Co. Ltd., AkzoNobel, Tasco Chemical, Sasol Solvents, Raoyehua, AkzoNobel, Lanzhou Petrochemicals, Maruzen Petrochemical, Cetex Petrochemicals, Norac, SK Energy, Fushun Petrochemical, Carboclor, and Polinox.
End-Users of Methyl Ethyl Ketone Covered:
? Paints & Coatings
? Printing Inks
? North America
? Asia Pacific
o New Zealand
o Rest of Asia
? Rest of the World
o Latin America
o Middle East
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