Market Insights:
The Methyl Ethyl Ketone Market was valued at USD 3.41 Bn in 2021, at CAGR of 4.9% during the forecast period (2022-2030), and the market is projected to be worth USD 5.24 Bn by 2030.
Driver:
The increased adoption of Methyl Ethyl Ketone in the Organic Chemicals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Methyl Ethyl Ketone also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Methyl Ethyl Ketone in many sectors also boosts the market growth during the forecast period.
MEK is used in the pharmaceutical and personal care industries for the production of antiseptics, anaesthetics, lotions, and drugs. Thus, rapid growth in the pharmaceutical industry due to rising healthcare expenditure in Asian countries is expected to drive demand over the forecast period.
Methyl Ethyl Ketone Market Research Report” was just released by Market Research Community. It is divided into several categories, including application (Solvent, Printing Inks, Chemical Intermediate, Lube oil dewaxing, Magnetic Tapes), End use (Paints & Coatings, Rubber, Packaging, Artificial Leather, Agricultural, Chemical & Pharmaceutical) and companies (Tonen Chemicals Corp., Idemitsu Kosan Co. Ltd., Tasco Chemical Co., and Fushun Petrochemical Company, ExxonMobil Chemical company, Sasol Ltd., Arkema S.A., Maruzen Petrochemical Co. Ltd., Royal Dutch Shell Plc., Ineos Group, SK Energy Co. Ltd., and Petro China Company Ltd), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 4.9%, over the forecast period of 2022–2030
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 5.24 Billion |
| CAGR (2022-2030) | 4.9% |
| By End use | Paints & Coatings, Rubber, Packaging, Artificial Leather, Agricultural, Chemical & Pharmaceutical |
| By Application | Solvent, Printing Inks, Chemical Intermediate, Lube oil dewaxing, Magnetic Tapes |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Tonen Chemicals Corp., Idemitsu Kosan Co. Ltd., Tasco Chemical Co., and Fushun Petrochemical Company, ExxonMobil Chemical company, Sasol Ltd., Arkema S.A., Maruzen Petrochemical Co. Ltd., Royal Dutch Shell Plc., Ineos Group, SK Energy Co. Ltd., and Petro China Company Ltd |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Methyl Ethyl Ketone market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Tonen Chemicals Corp., Idemitsu Kosan Co. Ltd., Tasco Chemical Co., and Fushun Petrochemical Company, ExxonMobil Chemical company, Sasol Ltd., Arkema S.A., Maruzen Petrochemical Co. Ltd., Royal Dutch Shell Plc., Ineos Group, SK Energy Co. Ltd., and Petro China Company Ltd
Market Segment Analysis:
By End use
- Paints & Coatings
- Rubber
- Packaging
- Artificial Leather
- Agricultural
- Chemical & Pharmaceutical
By Application
- Solvent
- Printing Inks
- Chemical Intermediate
- Lube oil dewaxing
- Magnetic Tapes
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Methyl Ethyl Ketone industries in the region.
Key Methyl Ethyl Ketone Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Methyl Ethyl Ketone Market segments.
– Largest Market Share Held by Industry to Industry for Methyl Ethyl Ketone
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Methyl Ethyl Ketone Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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