The global methyl ethyl ketone (MEK) market is expected to
reach USD 4.01 billion by 2024, according to a new report by Grand View
Research, Inc. Urbanization and industrialization in emerging economies of Asia
Pacific and the Middle East have driven the need for better infrastructure.
Increasing construction spending by
governments particularly in China and India to meet the rising infrastructure
needs has been driving the construction industry growth which in turn is
anticipated to drive demand for adhesives, printing inks, plastics, paints, and
coatings demand.
Expanding product penetration in
pharmaceuticals can be attributed to its ability to breakdown quaternary
proteins structure and increase drug penetration. Growing pharmaceutical
industry globally is expected to offer growth opportunities in denaturing
applications.
Increasing chronic and terminal ailments
prevalence is further driving the specialty drugs demand which in turn is
anticipated to significantly impact product volumes over the forecast period.
Volatile raw material prices and potential substitution by green solvents
across various end-use industries are anticipated to remain key challenges for
participants over the forecast period.
For full research report on Methyl
Ethyl Ketone Market visit here: https://www.grandviewresearch.com/industry-analysis/methyl-ethyl-ketone-mek-market
Further key
findings from the report suggest:
- The global MEK market demand was 1.42 million
tons and is expected to reach 2.11 million tons by 2024, growing at a CAGR
of 4.5% from 2016 to 2024.
- Paints & coatings emerged as the leading
application segment with demand share estimated at 55% in 2015. Increasing
infrastructure spending in the booming Asian market is expected to drive
this segment over the forecast period.
- Printing inks segment is anticipated to growth
at a CAGR of 4.9% from 2016 to 2024. MEK is widely used in inkjet inks
owing to its quick evaporation rate and solvency which is expected to
enhance overall volumes in the near future.
- Asia Pacific dominated the global MEK industry
and accounted for 56.3% of total market volume in 2015. Increasing
construction spending in emerging economies of China and India coupled
with government support to increase manufacturing in these countries are
expected to drive the regional market. Asia Pacific is also expected to
witness the fastest growth of 4.9% over the forecast period.
- The global market is concentrated with top
four companies ExxonMobil, Maruzen, Zibo, and Sasol accounting for a
majority of share. Other players include Shell Chemicals, Ineos Solvents,
SK Energy Co. Ltd, Lanzhou Petrochemicals, Idemitsu Kosan Co Ltd, Tasco
Chemicals, Tonen Chemicals and Fushun Petrochemical Company.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/methyl-ethyl-ketone-mek-market/request/rs1
Grand
View Research has segmented the methyl ethyl ketone (MEK) market on the basis
of application and region:
Global Methyl
Ethyl Ketone (MEK) Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2024)
- Paints &
coatings
- Printing Inks
- Adhesives
- Others
Global Methyl
Ethyl Ketone (MEK) Regional Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Middle East and
Africa
- Saudi Arabia
- Central & South
America
- Brazil
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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