Methyl Ethyl Ketone Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Methyl Ethyl Ketone 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

Methyl Ethyl Ketone Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4.5 %
Methyl Ethyl Ketone Market Major Players

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Market Overview

The methyl ethyl ketone market is projected to register a CAGR of over 4.5% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Methyl ethyl ketone (MEK) finds its application in the construction and automotive industries, and the applications include paints, coatings, solvents, resins, and adhesives. Considering the pandemic scenario, the automotive and manufacturing activities were at a temporary halt during the lockdown, which had decreased the consumption of MEK in the above applications.

  • Over the short term, the growing demand for MEK for applications like resins, paints, coatings, and others from the construction industry and increasing usage of MEK as solvent from the pharmaceutical industry are expected to drive the market’s growth.
  • On the flip side, the increasing awareness regarding the toxic effects of MEK and unfavorable conditions arising due to the impact of COVID-19 is likely to hamper the growth of the market studied.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

Methyl ethyl ketone (MEK), also known as butanone, is a colorless, liquid organic compound with the molecular formula CH3COCH2CH3, which is mainly used as a solvent in coatings, adhesives, printing inks, and lube oil dewaxing agents. MEK is mainly manufactured through the dehydrogenation of secondary butanol, also known as 2-Butanol. The methyl ethyl ketone market is segmented by application, end-user industry, and geography. By application, the market is segmented into solvent, resin, printing ink, adhesive, and other applications. By end-user industry, the market is segmented into paints and coatings, rubber, construction, packaging and publishing, and other end-user industries. The report also covers the market size of and forecasts for the methyl ethyl ketone market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Printing Ink
Other Applications
End-user Industry
Paints and Coatings
Packaging and Publishing
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
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

  • The paints and coatings segment stands to be the largest consumer of MEK. MEK is an exceptional solvent for use in the paints and coatings sector. The paints and coatings major consumption is in the construction industry.
  • The global construction industry was valued at about USD 12 trillion in 2019, registering a growth rate of about 4%. Residential & commercial construction has been increasing significantly across the globe.
  • Asia-Pacific and North America regions have been witnessing strong growth in residential construction, which is further likely to increase the demand for MEK for residential applications during the forecast period.
  • In 2019, the total value of new construction put in place was about USD 1365 billion in the United States and reached about USD 1429 billion in 2020, with a growth rate of about 4.5%, thus increasing the demand for paints and coatings.
  • Besides, regions, like Asia-Pacific and Middle-East and Africa, are experiencing huge domestic as well as foreign investments for setting up an industrial unit, hospitals, malls, multiplexes, hospitality industry, and IT sector.
  • The automotive industry is also a major end-use for paints and coatings. As of Q3 2019, about 67.47 million vehicles were produced globally and has reached about 52 million vehicles up to Q3 2020, registering a decline rate of about 23%, thus led to a decrease in the demand for the paints and coatings, which in turn negatively impacts the market growth of MEK.
  • Therefore, the aforementioned factors are expected to impact the market in the coming years significantly.
Methyl Ethyl Ketone Market Key Trends

Asia-Pacific Region to Dominate the Market

  • With growing investments into residential and commercial construction in the countries such as India, China, the Philippines, Vietnam, and Indonesia, the market for methyl ethyl ketone (MEK) is expected to increase in the coming years.
  • Currently, China has numerous airport construction projects, which are either in the development or planning stage. The Civil Aviation Administration of China (CAAC) aims to construct 216 new airports by 2035 to meet the growing demands for air travel. China had a total of 234 civil airports at the end of October, and this number is likely to hit 450 by 2035. Additionally, the government rolled out massive construction plans for the movement of 250 million people to its new megacities over the next ten years.
  • China was leading in the construction industry with a market size of USD 1092.9 billion in the year 2019, registering a growth rate of 14.71% compared to the previous year.
  • Indian Real Estate sector is expected to reach a market size of USD 1 trillion by 2030, and its contribution to the country’s GDP is expected to be approximately 13% by 2025.
  • In Indonesia, the government planned to invest in the construction sector USD 450 billion by 2021, which is expected to provide a boost to residential construction in the country.
  • Furthermore, China is the largest producer of vehicles across the globe. As of Q3 2019, China had produced 18.17 million vehicles and reached 16.96 million vehicles by Q3 2020, registering a decline rate of about 6.66%, which has led to a decrease in the consumption of adhesives, paints, and coatings, thus creating a negative effect on the regional MEK market growth.
  • Therefore, the aforementioned factors are expected to impact the market in the coming years significantly.
Methyl Ethyl Ketone Market Growth By Region

Competitive Landscape

The methyl ethyl ketone market is a consolidated market, where few major players hold a significant share of the market demand. Some of the major players in the market include Royal Dutch Shell PLC, Arkema, Exxon Mobil Corporation, Nouryon, and Sasol, among others.

Major Players

  1. Royal Dutch Shell Plc

  2. Arkema

  3. Exxon Mobil Corporation

  4. Nouryon

  5. Sasol

Methyl Ethyl Ketone Market Analysis

Recent Developments

  • In June 2020, Nouryon completed the expansion to add capacity for products including methyl ethyl ketone peroxides and others at its plant in Itupeva of Brazil for further strengthening its business.
  • In March 2019, Nouryon started the production of Butanox, a methyl ethyl ketone peroxide, at its site in Pasadena, Texas, to enhance its business in the North American market.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    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 Unfavorable Conditions Arising Due to the Impact of COVID-19

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      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


    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. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and 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

      2. 6.4.2 Cetex Petrochemicals

      3. 6.4.3 China National Petroleum Corporation

      4. 6.4.4 Exxon Mobil Corporation

      5. 6.4.5 Idemitsu Kosan Co. Ltd

      6. 6.4.6 INEOS

      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

    5. *List Not Exhaustive

**Subject to Availability
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Frequently Asked Questions

The Methyl Ethyl Ketone Market market is studied from 2016 - 2026.

The Methyl Ethyl Ketone Market is growing at a CAGR of >4.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Royal Dutch Shell Plc, Arkema, Exxon Mobil Corporation, Nouryon, Sasol are the major companies operating in Methyl Ethyl Ketone Market.

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