Market Size of Methyl Ethyl Ketone Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Methyl Ethyl Ketone Market Analysis
The methyl ethyl ketone market is projected to register a CAGR of over 4.5% during the forecast period.
COVID-19 harmed the market in 2020. Given the pandemic scenario, automotive and manufacturing activities were temporarily halted during the lockdown, reducing the usage of methyl ethyl ketone as a component and thereby impacting the market. But with the easing of the restrictions, the market started to gather pace over time.
- In the short term, rising demand for MEK in the construction industry for applications such as resins, paints, and coatings, as well as increased use of MEK as a solvent in the pharmaceutical industry, are likely to fuel market expansion.
- On the flip side, the increasing awareness regarding the toxic effects of MEK is likely to hamper the growth of the market studied.
- Increasing government investments in infrastructural developments are expected to offer various opportunities for market growth shortly.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
