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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:
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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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