Methyl ethyl ketone is also referred as MEK or 2-Butanone which is a colorless vaporous liquid with a pleasant yet pungent smell. It is prima is primarily used as a solvent in the process of gums, resin, cellulose nitrate, and cellulose acetate. MEK also used in the production of paraffin wax. Furthermore, 2-Butanone is used in household products such as lacquers & varnishes, paint & paint removers, and glues & adhesives.
The increase in demand for methyl ethyl ketone from pharmaceutical and personal care industries expected to boost the global methyl ethyl ketone market over the forecast period. It is used in the manufacturing of antiseptics, lotions, anesthetics, and drugs will positively influence the market growth. Thus, the growing pharmaceutical industry on account of increasing healthcare expenditure in Asia Pacific region is expected to fuel the demand during this forecast period. Also, the increase in vehicle sales over the past few years & expected production rise over the forecast period is likely to propel the global methyl ethyl ketone market growth. Moreover, the increase in demand for agro-chemicals such as pesticides expected to support the market growth.
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The increase in usage of green solvents as well as fluctuations in the raw material prices are the major restraints which are expected to hamper the global methyl ethyl ketone market growth during this timeframe.
The Global Methyl Ethyl Ketone Market is segmented into application such as Epoxy resin, Solvent, Printing Ink, Adhesive, Lubricants, and Others. Further, market is segmented into industry vertical such as Pharmaceutical, Agriculture, Paints & Coatings, Rubber, Packaging, and Others.
Also, the Global Methyl Ethyl Ketone Market into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Arkema SA, ExxonMobil Corporation, Fushun Petrochemical Company, Cetex Petrochemicals, Ineos Solvents, Idemitsu Kosan Co. Ltd, Nouryon, Sasol, Tasco Chemicals, Zibo Qixiang Petrochemical Industry Group Co. Ltd, etc.
By Industry Vertical
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