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The global methyl isobutyl ketone market demand reached a volume of nearly 469.88 thousand metric tons in 2023. The demand for the product is expected to grow at a CAGR of 3% in the forecast period of 2024-2032.
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The Asia Pacific region is anticipated to account for a significant share of the global market for methyl isobutyl ketone. The developing economies of the region are propelling the demand for the product. The healthy growth of the construction and automobile sectors in these countries is contributing to the market expansion. Kumho P&B Chemicals., Inc., one of the key players, is the leading producer of methyl isobutyl ketone in Asia and the largest manufacturer of the organic compound in the world.
The demand for methyl isobutyl ketone is being driven by the growing paints and coatings and automobile sectors, especially in countries like Brazil and Europe. Meanwhile, the market in North America is also a significant supply market. The demand from the surfactant, as well as the solvent extraction sector is also likely to grow in the coming years. Furthermore, the growing expenditure by the leading market players in the region, aimed at the expansion of production capacities, is anticipated to prove beneficial for the methyl isobutyl ketone market growth in the forecast period.
South Africa is a major exporting region, exporting large volumes of the product to countries like the United States, Singapore, and Europe, among others. The dominant producer in South Africa is Sasol Limited, accounting for a significant share of the output. The Asia Pacific region is also among the major producers with enough production to meet its regional demand. The region is still compelled to import the product to meet more than 10% of the regional demand due to changing preferences of the producers to produce alternative products to gain higher profit. North America is also an importing region, which relies on imports from South Africa to meet nearly 20% of its regional demand.
Methyl isobutyl ketone, which is abbreviated as MIBK, refers to an organic compound, which is a colourless fluid. It is a ketone, having the chemical formula (CH3)2CHCH2C(O)CH3, which is often used as a solvent for resins, oils, varnishes, gums, lacquers, and nitrocellulose. Methyl isobutyl ketone (MIBK) is majorly manufactured with the help of acetone, which aids in producing nearly 60% of the total output. Being a medium evaporating solvent, it is utilised as a solvent for various synthetic resins, including acrylics, vinyl copolymers, alkyds, epoxies, and polyesters.
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Methyl isobutyl ketone finds wide application in the following segments:
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report also explores the feedstock market, namely, acetone, covering the price trends and applications of acetone for the historical (2018-2023) and forecast (2024-2032) periods.
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The global methyl isobutyl ketone market is being driven by the growing demand from the paints and coatings sector, which is propelled forward by the growing construction sector. The demand for the product is particularly increasing faster in developing regions like India and China. The rising demand for paints and coatings in the developing regions is fuelled by the rapidly growing construction sector in the area. The construction sector is being supported by the growing population in the Asia Pacific region. The increasing population, especially the middle-class population, is leading to the increased residential infrastructure development activities across the globe, thus, propelling the market growth of methyl isobutyl ketone in the construction sector. The favourable government policies and the rising consumer disposable incomes are also supporting this trend. The market is also being aided by the automobile sector, which is booming in major regions across the globe. It is used in the production of automobile paints and coatings, owing to its slow evaporation rate, which provides a premium gloss finish in coating applications. The growing demand for protective paints and coatings with the increasing demand for passenger vehicles is anticipated to support the market. Automotive coatings are mostly utilised in exterior parts of vehicles to provide protection against sunlight, material corrosiveness, and others.
The market demand is also being aided by the growing use of the product in the tire sector, as a rubber antioxidant. The increasing demand for cheaper solvents in the solvent extraction and surfactants market is providing further impetus to the methyl isobutyl ketone market growth. Furthermore, the increased demand for methyl isobutyl ketone in the surfactant sector for the production of industrial cleaning products is expected to support the market growth in the coming years. The increasing investments by the leading market players to expand their production capacity and meet the growing product demand for diverse applications are expected to further propel the market forward.
However, in the coming years, restrictive regulations in regions like Europe might hinder the growth of the market. The market might also be affected by the moderate demand growth from major regional markets.
The report gives a detailed analysis of the following key players in the global methyl isobutyl ketone market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on Porter’s five forces model, along with giving a SWOT analysis. The report also provides the price and trade data analysis of the market.
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 Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Methyl Isobutyl Ketone Market Analysis
8.1 Key Industry Highlights
8.2 Global Methyl Isobutyl Ketone Historical Market (2018-2023)
8.3 Global Methyl Isobutyl Ketone Market Forecast (2024-2032)
8.4 Global Methyl Isobutyl Ketone Market by Application
8.4.1 Paints and Coatings
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Rubber Antioxidants
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Solvent Extraction
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Adhesives and Inks
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Surfactants
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Methyl Isobutyl Ketone Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code: 291413)
12.1 Major Exporting Countries:
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
13.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
13.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
13.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
13.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
13.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
14 Feedstock Analysis
14.1 Global Acetone Market Analysis
14.1.1 Key Industry Highlights
14.1.2 Global Acetone Historical Market (2018-2023)
14.1.3 Global Acetone Market Forecast (2024-2032)
14.1.4 Global Acetone Market Breakup by Application
14.1.4.1 Solvents
14.1.4.2 Methyl Methacrylate (MMA)
14.1.4.3 BPA
14.1.4.4 Others
14.1.5 Global Acetone Market Breakup by Region
14.1.5.1 North America
14.1.5.2 Europe
14.1.5.3 Asia Pacific
14.1.5.4 Latin America
14.1.5.5 Middle East and Africa
14.2 Feedstock Trade Data Analysis (HS Code: 291411)
14.2.1 Major Exporting Countries:
14.2.1.1 By Value
14.2.1.2 By Volume
14.2.2 Major Importing Countries
14.2.2.1 By Value
14.2.2.2 By Volume
14.3 Acetone Price Analysis
14.3.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
14.3.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
14.3.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
14.3.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
14.3.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Kumho P&B Chemicals., Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Royal Dutch Shell plc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Celanese Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 LCY Group
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Mitsui Chemicals, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Solvay S.A.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Sasol Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Industry Events and Developments
List of Key Figures and Tables
1. Global Methyl Isobutyl Ketone Market: Key Industry Highlights, 2018 and 2032
2. Global Methyl Isobutyl Ketone Historical Market: Breakup by Application (Thousand Metric Tons), 2018-2023
3. Global Methyl Isobutyl Ketone Market Forecast: Breakup by Application (Thousand Metric Tons), 2024-2032
4. Global Methyl Isobutyl Ketone Historical Market: Breakup by Region (Thousand Metric Tons), 2018-2023
5. Global Methyl Isobutyl Ketone Market Forecast: Breakup by Region (Thousand Metric Tons), 2024-2032
6. North America Methyl Isobutyl Ketone Historical Market: Breakup by Country (Thousand Metric Tons), 2018-2023
7. North America Methyl Isobutyl Ketone Market Forecast: Breakup by Country (Thousand Metric Tons), 2024-2032
8. Europe Methyl Isobutyl Ketone Historical Market: Breakup by Country (Thousand Metric Tons), 2018-2023
9. Europe Methyl Isobutyl Ketone Market Forecast: Breakup by Country (Thousand Metric Tons), 2024-2032
10. Asia Pacific Methyl Isobutyl Ketone Historical Market: Breakup by Country (Thousand Metric Tons), 2018-2023
11. Asia Pacific Methyl Isobutyl Ketone Market Forecast: Breakup by Country (Thousand Metric Tons), 2024-2032
12. Latin America Methyl Isobutyl Ketone Historical Market: Breakup by Country (Thousand Metric Tons), 2018-2023
13. Latin America Methyl Isobutyl Ketone Market Forecast: Breakup by Country (Thousand Metric Tons), 2024-2032
14. Middle East and Africa Methyl Isobutyl Ketone Historical Market: Breakup by Country (Thousand Metric Tons), 2018-2023
15. Middle East and Africa Methyl Isobutyl Ketone Market Forecast: Breakup by Country (Thousand Metric Tons), 2024-2032
16. Major Importing Countries by Volume
17. Major Exporting Countries by Volume
18. Major Importing Countries by Value
19. Major Exporting Countries by Value
20. North America Methyl Isobutyl Ketone Historical Price Trends and Forecast 2018-2028
21. Europe Methyl Isobutyl Ketone Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Methyl Isobutyl Ketone Historical Price Trends and Forecast 2018-2028
23. Latin America Methyl Isobutyl Ketone Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Methyl Isobutyl Ketone Historical Price Trends and Forecast 2018-2028
25. Global Acetone Market: Key Industry Highlights, 2018 and 2032
26. Global Acetone Historical Market: Breakup by Application (Thousand Metric Tons), 2018-2023
27. Global Acetone Market Forecast: Breakup by Application (Thousand Metric Tons), 2024-2032
28. Global Acetone Historical Market: Breakup by Region (Thousand Metric Tons), 2018-2023
29. Global Acetone Market Forecast: Breakup by Region (Thousand Metric Tons), 2024-2032
30. Feedstock: Major Importing Countries by Volume
31. Feedstock: Major Exporting Countries by Volume
32. Feedstock: Major Importing Countries by Value
33. Feedstock: Major Exporting Countries by Value
34. North America Acetone Historical Price Trends and Forecast 2018-2028
35. Europe Acetone Historical Price Trends and Forecast 2018-2028
36. Asia Pacific Acetone Historical Price Trends and Forecast 2018-2028
37. Latin America Acetone Historical Price Trends and Forecast 2018-2028
38. Middle East and Africa Acetone Historical Price Trends and Forecast 2018-2028
39. Global Methyl Isobutyl Ketone Market Structure
In 2023, the market attained a volume of nearly 469.88 thousand metric tons.
The market is estimated to grow at a CAGR of 3% between 2024 and 2032.
The market is being driven by the increasing construction activities in emerging markets and the rising demand for paints and coatings.
The key trends guiding the market include the expansion of production capabilities by key players, the increasing residential infrastructural development activities, and the growing use of methyl isobutyl ketone as a rubber antioxidant in tyre manufacturing.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of methyl isobutyl ketone in the market are paints and coatings, rubber antioxidants, solvent extraction, adhesives and inks, and surfactants, among others.
The major players in the 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 global methyl isobutyl ketone market attained a volume of around 469.88 thousand metric tons in 2023. It is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on application, the market can be divided into paints and coatings, rubber antioxidants, solvent extraction, adhesives and inks, and surfactants, among others. North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific are the major regions in the market, with the Asia Pacific accounting for the largest market share of nearly 55%. The major players in the above industry include 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 major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, growing construction and automobile industries, and rising rubber antioxidant industry are driving the growth of the market globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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