Market Size of Methyl Isobutyl Ketone (MIBK) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.82 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Methyl Isobutyl Ketone (MIBK) Market Analysis
The Methyl Isobutyl Ketone (MIBK) Market size is expected to grow from 541.30 Kilotons in 2023 to 652.89 Kilotons by 2028, at a CAGR of 3.82% during the forecast period (2023-2028).
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- Over the short term, the increasing demand for MIBK in synthesizing antiresonant additives for rubber and the growing demand for surface coatings are projected to fuel market growth throughout the forecast period.
- Increasing awareness about the environmental impact of MIBK is likely to hinder the market's growth.
- Increasing investments in infrastructure and road connectivity are expected to act as opportunities for the market.
