Methyl Ethyl Ketone Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Application (Solvent, Resin, Printing Ink, Adhesive, and Other Applications), End-user Industry (Paints and Coatings, Rubber, Construction, Packaging and Publishing, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America and Middle-East and Africa).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

4.5 %

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Market Overview

The methyl ethyl ketone (MEK) market is expected to grow at a CAGR of around 4.5% during the forecast period. The major factors driving the growth of market studied are the growing demand for paints and coatings, increasing demand for powder coatings in the automobile industry, and growing demand for resins as solvent in the pharmaceutical industry.

  • Construction segment dominated the market and is likely to grow during the forecast period with the growing residential as well as commercial construction activities across the globe.
  • On the flipside, the increasing awareness about toxic effects of MEK, and high price of feedstock are some of the factors that hampers the growth of the studied market.
  • Development of fresh distillation program SUPERHIDIC by Maruzen Petrochemicals is further likely to provide opportunities for the studied market during the forecast period.

Scope of the Report

The methyl ethyl ketone market report includes:

Application
Solvent
Resin
Printing Ink
Adhesive
Other Applications
End-user Industry
Paints and Coatings
Rubber
Construction
Packaging and Publishing
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Paints and Coatings Segment to Dominate the Market Demand

  • Paints & coatings segment stands to be the largest consumer of MEK. MEK is an exceptional solvent for use in the paints & coatings sector. The paints & coatings major consumption is in the construction industry.
  • The global construction industry grew by about 3.5% during 2018. Residential & commercial construction has been increasing significantly across the globe, which is further driving the demand for MEK for construction applications.
  • Asia-Pacific and North America regions have been witnessing strong growth in the residential construction, which is further likely to increase the demand for MEK for residential application during the forecast period.
  • Besides, regions like8 Asia-Pacific and Middle East & Africa are experiencing huge domestic as well as foreign investments for setting up an industrial unit, hospitals, malls, multiplexes, hospitality industry, and IT sector, which is further expected to add noticeably to the demand for MEK market.
  • Hence, all such favorable trends in the construction industry are expected to increase the consumption of paints & coatings, which is further projected to drive the growth of MEK market during the forecast period.

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Asia-Pacific Region to Dominate the Market

  • With growing investments into the residential and commercial construction in the countries, such as India, China, Philippines, Vietnam, and Indonesia, the market for MEK is expected to increase in the coming years.
  • China currently has numerous airport construction projects, such as, which are either in development or planning stage. These include - Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years.
  • In India, the government’s investment target of USD 120.5 billion for developing 27 industrial clusters; this is expected to boost commercial construction in the country.
  • In Indonesia, the government planned to invest in construction sector about USD 450 billion by 2021, which is expected to provide boost to residential construction in the country.
  • Hence, all such investments and planned projects in the Asia-Pacific countries is providing boost to construction activities in the region, which are further likely to drive the demand for MEK in the region during the forecast period.

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Competitive Landscape

The methyl ethyl ketone market is a consolidated market, where few major players hold significant share of the market demand. Some of the major players in the market include Royal Dutch Shell PLC, Arkema Group, ExxonMobil Chemicals, AkzoNobel N.V., and Sasol, amongst others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for Paints and Coatings

      2. 4.1.2 Growing Demand for Resins as Solvent in the Pharmaceutical Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Increasing Awareness about Toxic Effects of MEK

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

    6. 4.6 Trade Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Solvent

      2. 5.1.2 Resin

      3. 5.1.3 Printing Ink

      4. 5.1.4 Adhesive

      5. 5.1.5 Other Applications

    2. 5.2 End-user Industry

      1. 5.2.1 Paints and Coatings

      2. 5.2.2 Rubber

      3. 5.2.3 Construction

      4. 5.2.4 Packaging and Publishing

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arkema SA

      2. 6.4.2 Cetex Petrochemicals

      3. 6.4.3 ExxonMobil Corporation

      4. 6.4.4 Fushun Petrochemical Company

      5. 6.4.5 Idemitsu Kosan Co. Ltd

      6. 6.4.6 Ineos Solvents

      7. 6.4.7 Maruzen Petrochemical

      8. 6.4.8 Nouryon

      9. 6.4.9 Royal Dutch Shell plc

      10. 6.4.10 Sasol

      11. 6.4.11 Tasco Chemicals

      12. 6.4.12 Zibo Qixiang Petrochemical Industry Group Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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