Methyl Ethyl Ketone (MEK) Market by Application (Solvent, Resin, Printing Ink, Adhesive and Others), By End Use (Paints & Coatings, Rubber, Construction, Packaging & Publishing and Others)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Methyl Ethyl Ketone (MEK) Market held USD 3. 2  billion in 2020 and is to grow with a CAGR of 4.5% from 2020-2030. Methyl Ethyl Ketone (MEK) is a highly flammable and volatile liquid with sweet smell. It is occurred naturally in some trees, seaweeds & bacteria. Moreover, methyl ethyl ketone market is driven by various application in chemical, pharmaceutical, electronics and coating  along with other industries as a solvent, chemical intermediate and cleaner. Increase in terminal and chronic disease prevalence is boosting the demand for special drugs which is expected to impact product volumes over the forecast period significantly, and will directly impact the growth of methyl ethyl ketone market over the forecast period. Potential substitution by green solvents across various end-use industries and prices of volatile raw material  are expected to remain key challenges for the methyl ethyl ketone market during the predicted period.

Market Dynamics and Factors:

Over the last few years, global growth in vehicle sales and projected production increases will likely to lead the methyl ethyl ketone market size. MEK is also used for paints and coating applications in automotive paints industry as a solvent, which is important for coating's long life. Also, growing numbers of healthcare facilities and advanced medical research will contribute to increasing demand for pharmaceutical applications, which will drive the market. Limitations in protein structure and increasing drug penetration are important factors for its application in pharmaceutical segment, which will likely to boost the methyl ethyl ketone  market demand. The favorable petrochemical crude and downstream supply is expected to lead to an attractive growth in methyl ethyl ketone market over the forecast period, which will fuel the methyl ethyl ketone market size.  Methyl ethyl ketone is largely used in inkjet inks because of its solvency and fast rate of evaporation which is expected to drive overall methyl ethyl ketone market in future.

Market Segmentation:

Based on the application, the global methyl ethyl ketone industry is segmented into resin, solvent, adhesive printing ink and others. Depending upon the end-use, the methyl ethyl ketone is segmented into paints & coatings, rubber, packaging & publishing, construction and others. Geographic bifurcation of global methyl ethyl ketone market share includes North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

The regions of Asia-Pacific and North America have experienced strong increase in residential construction, which is likely to fuel global methyl ethyl ketone market demand for residential applications during the forecast period. Middle East & Africa are currently experiencing immense foreign and domestic investment to establish industrial units, hospitals, malls, multiplexes, the hospitality and IT industries, which will significantly increase methyl ethyl ketone market demand during the forecast period. Strict environmental regulations for health and wellness is likely to hamper the methyl ethyl ketone market growth.

Competitive Scenario:

The global methyl ethyl ketone industry, which is highly competitive, consists of a few major players. The key players of market  are Zibo, and Sasol, ExxonMobil, Maruzen,  Ineos Solvents, Shell Chemicals, Lanzhou Petrochemicals, SK Energy Co. Ltd, Tasco Chemicals, Fushun Petrochemical Company, Idemitsu Kosan Co Ltd, and Tonen Chemicals.

Methyl Ethyl Ketone (MEK) Market Report Scope