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Global Methyl Isobutyl Ketone Market to Grow at a CAGR of 3% During the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Methyl Isobutyl Ketone Market Report and Forecast 2021-2026’, the global methyl isobutyl ketone demand attained a volume of nearly 430 thousand metric tons in 2020. The global demand for methyl isobutyl ketone is further expected to grow at a CAGR of 3% over the forecast period of 2021-2026 to attain a volume of around 513 thousand metric tons by 2026.

The global methyl isobutyl ketone market is being aided by the growing paints and coatings sector and the automobile industry, particularly in regions like Brazil, Eastern Europe, and some Asian countries. The Asia Pacific region is the major producer of the product, accounting for nearly 55% of the global share. The Asia Pacific is followed by Western Europe and North America, among others, as the significant supply markets for methyl isobutyl ketone. Moreover, the demand for methyl isobutyl ketone from the surfactant and solvent extraction market is expected to increase in the coming years; thus, further aiding the industry over the forecast period. South Africa serves as the major exporting region, exporting significant volumes of methyl isobutyl ketone to regions like the United States, Singapore, and Europe, among others.

Kumho P&B Chemicals., Inc., one of the major players in the industry, is the major manufacturer of methyl isobutyl ketone in Asia and is the largest manufacturer of the product in the world. In October 2020, Sasol Limited (NYSE: SSL), another significant player in the industry, and Nduna Maritime entered into a R400 million enterprise and supplier development (ESD) funding agreement in South Africa’s first locally-owned maritime vessel, further transporting chemicals to international markets while localising its South African business and diversifying its supply chain. Such developments are expected to aid the global methyl isobutyl ketone market over the forecast period.

Market Breakup by Applications and Regions:

  • On the basis of application, the global methyl isobutyl ketone market can be segmented into rubber antioxidants, paints and coatings, solvent extraction, adhesives, inks, and surfactants, among others. 
  • Region-wise, the global methyl isobutyl ketone market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for methyl isobutyl ketone is being driven by its growing demand in the paints and coatings industry. 
  • With the rapid urbanisation and the rising disposable incomes, the demand for housing facilities has increased, leading to the growth of the construction sector, which is driving the global methyl isobutyl ketone industry forward. 
  • The expanding automobile industry, booming in nearly all the regions, is further propelling the industry forward. 
  • The growing rubber antioxidant market, coupled with the increased demand for cheaper solvents, is providing further impetus to the industry growth.

Key Offerings of the Report:

  • The EMR report gives a detailed overview of the global methyl isobutyl ketone market, providing an insight into the applications and regional markets of the product for the periods (2016-2020) and (2021-2026). 
  • The report gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the global methyl isobutyl ketone industry.
  • The global trade data analysis has also been provided in the report by EMR, covering the value and volume of the leading importing and exporting countries.
  • The report provides an assessment of the market based on Porter’s Five Forces model, along with SWOT and value chain analysis.
  • An overview of the feedstock market has also been provided within the report covering the historical (2016-2020) and forecast (2021-2026) of the applications and major regional markets of the feedstock.
  • An analysis of the price trends and trade data of the feedstock has also been provided within the report by EMR.

The major players in the global methyl isobutyl ketone market are Kumho P&B Chemicals., Inc., Royal Dutch Shell plc, Celanese Corporation, LCY Group, Mitsui Chemicals, Inc., Solvay S.A., and Sasol Limited among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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