Methyl Ethyl Ketone Market Size and Analysis, Trends, Recent Developments, and Forecast Till 2028


Posted August 17, 2022 by reportsanddata1234

The Global Methyl Ethyl Ketone Market is forecast to reach USD 5,165.2 Million by 2028, according to a new report by Reports and Data.

 
The Global Methyl Ethyl Ketone Market is forecast to reach USD 5,165.2 Million by 2028, according to a new report by Reports and Data. The Methyl Ethyl Ketone (MEK) is an aliphatic ketone with a colorless or pale yellow shade, flammable, highly water-soluble industrial and commercial chemical with a strong, pungent odor. Methyl ethyl ketone is mostly used as a solvent in the manufacturing of surface coating applications and also widely utilized as an intermediate solvent chemical in the formulation of various chemical processing. Paints, inks, synthetic resin, varnishes, surface coating, and denaturant, food flavoring in many ethanol formulations are some of its chemical applications. Methyl ethyl ketone, for its combination of high solvent activity with low density, is very useful in developing high-solid coatings and highly demanded in the coating industry. The continuous expansion of the paint & coatings, varnishes, adhesives, inks, food flavoring agent, and food-contact packaging products are expected to drive the demand throughout the forecast period.

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Further key findings from the report suggest

Methyl ethyl ketone is a synthetic chemical compound used in the direct solvent and widely used in the direct chemical formulations. Specialty coating, powder coating, waterborne coatings, inks, varnishes, lacquers, direct extraction agent in the dewaxing & deoiling of the petroleum products are some of its end-use applications. The direct solvent is forecasted to reach a market share of 34.5% by 2028 growing with a rate of 5.6% during the period 2019 – 2028.
Chemical intermediate segment is measured to grow at the CAGR of 5.2% in the forecast period. Methyl ethyl ketone is utilized as the active chemical & organic intermediate in plasticizer & plastics manufacturing.
Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2028.
Europe would reach a market share of 20.5% by 2028 and would grow at a CAGR of 4.9% in the forecast period. Netherland and France have some of the valuable players in this region.
North America is forecasted to witness significant growth in the overall market, with 25.7% of market possession by 2028 and CAGR of 5.8% during the forecast period. US possesses the highest market share in this region and some of the vital player of the market.
Key participants include LCY Chemical Corp., ExxonMobil, Royal Dutch Shell PLC, Maruzen Petrochemicals, Arkema S.A, Celanese Corporation, Eastman Chemical Company, Petro China, Sasol Limited, and ISU Chemical.
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End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

Direct Solvent
Chemical Intermediate
Chemical Reagents
Others
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

Online Retailing
Offline Retailing
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020-2028)

Paints & Coatings
Rubber & Adhesive
Chemical & Pharmaceuticals
Food Packaging & Flavoring
Others
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Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Methyl Ethyl Ketone Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Methyl Ethyl Ketone Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Methyl Ethyl Ketone Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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Issued By Reports And Data
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Categories Business
Last Updated August 17, 2022