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Methyl Ethyl Ketone (MEK) Market

Global Methyl Ethyl Ketone (MEK) Market Size, Share, Trends: By Application: Solvent, Resin, Printing Ink, Adhesive, Others; By End Use: Paints and Coatings, Rubber, Construction, Packaging and Publishing, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Methyl Ethyl Ketone (MEK) Market Outlook

The global methyl ethyl ketone (MEK) market size reached approximately USD 4.10 billion in 2023. The market is further projected to grow at a CAGR of 4.2% between 2024 and 2032, reaching a value of USD 5.90 billion by 2032.

 

Key Trends in the Market

Methyl ethyl ketone (MEK) also known as butanone, is an organic compound that is oxidising and corrosive in nature. It is used as a solvent for cleaning materials, lacquers, and adhesives and as a carrier and catalyst in cleaning solutions. The chemical formula of the volatile liquid is C4H8O.

 

  • The increased requirement for dyes, paint, and glue is boosting the methyl ethyl ketone (MEK) market growth. Methyl ethyl ketone is a common ingredient in paint and paint products including varnishes and lacquer due to its strong solvency and low viscosity. Due to its slow evaporating properties, methyl ethyl ketone is used as a key ingredient in the production of dry erase markers.
  • The expansion of the pharmaceutical and healthcare sectors is boosting the requirement for different solvents including, methyl ethyl ketone. It is used as a fragrance and flavouring agent in various pharmaceutical products.
  • The product is commonly used as a curing agent for fibreglass plastics and unsaturated polyester resins. Methyl ethyl ketone acts as a catalyst in this process for both polyester and vinyl resins. It cures the resin by solidifying it from a liquid state. It is also used as an effective plastic welding agent as it can dissolve different plastics such as polystyrene. Methyl ethyl ketone can also be used for manufacturing paraffin wax and textiles.

 

Global Methyl Ethyl Ketone (MEK) Market Segmentation

On the basis of application, the market is divided into solvent, resin, printing ink, and adhesive, among others. Based on end use, the market is classified into paints and coatings, rubber, construction, and packaging and publishing, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the methyl ethyl ketone (MEK) market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Shell PLC 
  • ENEOS Corporation 
  • Nova Molecular Technologies, Inc. 
  • Kishida Chemical Co.,Ltd. 
  • AccuStandard 
  • Spectrum Laboratory Products, Inc. 
  • BeanTown Chemical, Inc. 
  • Molekula Limited 
  • LobaChemie Pvt. Ltd. 
  • Sasol Limited 
  • Others

 

Market Share by End Use

As per the methyl ethyl ketone (MEK) market analysis, commercial sector is anticipated to witness significant growth in the coming years. The increasing investments in the residential sector due to growing population and rising disposable incomes are supporting the segment growth. The rising investments by various governments towards infrastructure development is further boosting the demand for methyl ethyl ketone. The product aids in bonding two surfaces together and used for making synthetic resins and rubbers for producing paints and adhesives.

 

Market Share by Region

The Asia Pacific is anticipated to account for a significant methyl ethyl ketone (MEK) market share over the forecast period. This growth can be attributed to expansion of the automotive sector and increasing in construction activities in the region due to growing urbanisation and increasing population. The increasing investments in the commercial and residential building spaces is further boosting the methyl ethyl ketone (MEK) market demand in the Asia Pacific region.

 

Competitive Landscape

Shell PLC, headquartered in London, United Kingdom, is a multinational oil and gas company that was founded in 1907. The company’s product portfolio includes petroleum, petrochemicals, LNG, lubricants, methyl ethyl ketone, and natural gas, among others.

 

ENEOS Corporation, headquartered in Tokyo, Japan, is involved with the refining, exploration, and importation of crude oil. The company is also involved with the sale and manufacture of lubricants, fuels, and petroleum products, among others.

 

Nova Molecular Technologies, Inc. is involved with the manufacture of speciality chemicals and specialises in chemical processing. The company was founded in 1989 and is headquartered in Wisconsin, United States.

 

Other methyl ethyl ketone (MEK) market key players include Kishida Chemical Co.,Ltd., AccuStandard, Spectrum Laboratory Products, Inc., BeanTown Chemical, Inc., Molekula Limited, LobaChemie Pvt. Ltd., and Sasol Limited, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • End Use
  • Region
Breakup by Application
  • Solvent
  • Resin
  • Printing Ink
  • Adhesive
  • Others
Breakup by End Use
  • Paints and Coatings
  • Rubber
  • Construction
  • Packaging and Publishing
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Shell PLC
  • ENEOS Corporation
  • Nova Molecular Technologies, Inc.
  • Kishida Chemical Co.,Ltd.
  • AccuStandard
  • Spectrum Laboratory Products, Inc.
  • BeanTown Chemical, Inc.
  • Molekula Limited
  • LobaChemie Pvt. Ltd.
  • Sasol Limited
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Methyl Ethyl Ketone (MEK) Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Methyl Ethyl Ketone (MEK) Historical Market (2018-2023) 
    8.3    Global Methyl Ethyl Ketone (MEK) Market Forecast (2024-2032)
    8.4    Global Methyl Ethyl Ketone (MEK) Market by Application
        8.4.1    Solvent
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Resin
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Printing Ink
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Adhesive
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Methyl Ethyl Ketone (MEK) Market by End Use
        8.5.1    Paints and Coatings
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Rubber
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Construction
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Packaging and Publishing
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Others
    8.6    Global Methyl Ethyl Ketone (MEK) Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Methyl Ethyl Ketone (MEK) Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Methyl Ethyl Ketone (MEK) Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Methyl Ethyl Ketone (MEK) Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Methyl Ethyl Ketone (MEK) Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Methyl Ethyl Ketone (MEK) Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code - 291412)

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Price Analysis
18    Competitive Landscape

    18.1    Market Structure
    18.2    Company Profiles 
        18.2.1    Shell PLC 
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    ENEOS Corporation 
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Nova Molecular Technologies, Inc. 
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Kishida Chemical Co.,Ltd. 
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    AccuStandard 
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Spectrum Laboratory Products, Inc. 
            18.2.6.1    Company Overview
            18.2.6.2    Product Portfolio
            18.2.6.3    Demographic Reach and Achievements
            18.2.6.4    Certifications
        18.2.7    BeanTown Chemical, Inc. 
            18.2.7.1    Company Overview
            18.2.7.2    Product Portfolio
            18.2.7.3    Demographic Reach and Achievements
            18.2.7.4    Certifications
        18.2.8    Molekula Limited 
            18.2.8.1    Company Overview
            18.2.8.2    Product Portfolio
            18.2.8.3    Demographic Reach and Achievements
            18.2.8.4    Certifications
        18.2.9    LobaChemie Pvt. Ltd. 
            18.2.9.1    Company Overview
            18.2.9.2    Product Portfolio
            18.2.9.3    Demographic Reach and Achievements
            18.2.9.4    Certifications
        18.2.10    Sasol Limited 
            18.2.10.1    Company Overview
            18.2.10.2    Product Portfolio
            18.2.10.3    Demographic Reach and Achievements
            18.2.10.4    Certifications
        18.2.11    Others
19    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Methyl Ethyl Ketone (MEK) Market: Key Industry Highlights, 2018 and 2032 
2.    Global Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Application (USD Billion), 2018-2023
3.    Global Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Application (USD Billion), 2024-2032 
4.    Global Methyl Ethyl Ketone (MEK) Historical Market: Breakup by End Use (USD Billion), 2018-2023
5.    Global Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by End Use (USD Billion), 2024-2032 
6.    Global Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Region (USD Billion), 2024-2032 
8.    North America Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Country (USD Billion), 2024-2032 
10.    Europe Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Country (USD Billion), 2024-2032 
12.    Asia Pacific Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Country (USD Billion), 2024-2032 
14.    Latin America Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Country (USD Billion), 2024-2032 
16.    Middle East and Africa Methyl Ethyl Ketone (MEK) Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Methyl Ethyl Ketone (MEK) Market Forecast: Breakup by Country (USD Billion), 2024-2032 
18.    Major Importing Countries by Volume 
19.    Major Exporting Countries by Volume 
20.    Major Importing Countries by Value 
21.    Major Exporting Countries by Value
22.    Global Methyl Ethyl Ketone (MEK) Market Structure

Key Questions Answered in the Report

The market reached a value of approximately USD 4.10 billion in 2023.

The market is projected to grow at a CAGR of 4.2% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 5.90 billion by 2032.

The major market drivers include expansion of the pharmaceutical and healthcare sectors and increasing applications of MEK as a curing agent for fibreglass plastics and unsaturated polyester resins.

The key trends fuelling the growth of the market include increased requirement for dyes, paint, and glue and rising investments in residential construction sector.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The applications of methyl ethyl ketone include solvent, resin, printing ink, and adhesive, among others.

The key players in the market are Shell PLC, ENEOS Corporation, Nova Molecular Technologies, Inc., Kishida Chemical Co.,Ltd., AccuStandard, Spectrum Laboratory Products, Inc., BeanTown Chemical, Inc., Molekula Limited, LobaChemie Pvt. Ltd., and Sasol Limited, among others.

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