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Methyl Ethyl Ketone Market: By Application, End-User Industry, and Geography
Methyl Ethyl Ketone Market: By Application, End-User Industry, and Geography
Methyl Ethyl Ketone Market size was valued at US$ 3,839.8 million in 2023 and is anticipated to grow at a CAGR of 4.7% over 2024-2030. The methyl ethyl ketone (MEK) market refers to the global industry that involves the production, distribution, and consumption of methyl ethyl ketone, also known as 2-butanone. MEK is a colorless, flammable organic liquid with a sweet odor. MEK is produced industrially on a large scale but occurs in nature only in trace amounts. It is partially soluble in water and is commonly used as a solvent in various industrial applications due to its excellent solvent properties. The growth of the paints and coatings industry serves as a major driving force for the methyl ethyl ketone (MEK) market. MEK's essential role as a solvent in paint formulations fuels this connection, as it effectively dissolves resins, pigments, and binders, leading to consistent and high-quality mixtures. Additionally, MEK's rapid evaporation rate proves advantageous in the industry, facilitating quick drying times and enhancing production efficiency.
The rising adhesives and sealants sector also augments the market growth. MEK is an essential component in the production of adhesives and sealants. Its ability to promote proper bonding between different materials ensures the integrity of adhesive applications in industries like construction, automotive, and packaging. However, MEK is known to have health hazards associated with its inhalation, skin contact, and ingestion. Occupational health and safety regulations may lead to increased precautions, safety measures, and costs for industries using MEK, which ultimately acts as a potential restraint to the growth of the market. Meanwhile, continued research into improving MEK production processes, enhancing its properties, and finding novel applications can open up new avenues for the growth of the methyl ethyl ketone (MEK) market. key manufacturers are adopting innovative strategies to develop novel solutions to cater to various end-use industries.
Study Period
2024-2030Base Year
2023CAGR
4.7%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The methyl ethyl ketone (MEK) market experiences significant growth from the industrial cleaning sector due to MEK's potential in dissolving and eliminating various industrial residues, coatings, oils, and contaminants. MEK is a highly effective cleaning agent used to clean machinery, equipment, and tools in various industries, including automotive, aerospace, and manufacturing. It is also used to clean printing presses and electronic components. Moreover, the surging demand for petrochemical plastics plays a pivotal role in propelling the methyl ethyl ketone (MEK) market, driven by MEK's essential contributions to plastic production and processing. MEK produces various petrochemical-based plastics such as PVC, acrylics, and polystyrene, which are used in various applications, including construction, automotive, and medical devices. It acts as a solvent, which helps dissolve the polymer and facilitate production.
The methyl ethyl ketone market has been segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is anticipated to lead in the methyl ethyl ketone market over the forecasting years owing to the rapid industrialization of emerging economies like China and India. Expanding construction, automotive, and manufacturing sectors boost demand for coatings, adhesives, and plastics, increasing MEK consumption. However, environmental concerns and regulations are gaining prominence. In North America, the MEK market is well-established due to the presence of key industries like paints and coatings, adhesives, and chemical manufacturing. Stringent environmental regulations impact MEK usage, prompting a focus on low-VOC formulations. The automotive and construction sectors also contribute to demand. The U.S. is a major producer and consumer of MEK in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 3,839.8 million |
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Market CAGR |
4.7% |
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By Application |
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By End User |
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By Region |
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The methyl ethyl ketone market was valued at US$ 3,839.8 Million in 2023 and is anticipated to grow at a CAGR of 4.7 % over 2024-2030.
Global industrialization and increasing government investments are some of the factors that create potential opportunities for the growth of the methyl ethyl ketone market.
The technological advancements in the manufacture of methyl ethyl ketone is one of the major trends in the methyl ethyl ketone market.
Exxon Mobil Corporation, Sasol, Maruzen Petrochemical, Shell Chemicals, Credence Chem Private Limited, Ineos Solvents, Goenka Chemical Industries., Nutan Chemicals, Mirdula Detergent (p) Ltd., Madhu Chemicals., Unipetro Private Limited, Shree Chem., TASCO Group, PetroChina Company Limited, Tonen Chemical Corp, Idemitsu Kosan Co.,Ltd. are a few companies operating in methyl ethyl ketone market.
| 1.Executive Summary |
| 2.Global Methyl Ethyl Ketone Market Introduction |
| 2.1.Global Methyl Ethyl Ketone Market - Taxonomy |
| 2.2.Global Methyl Ethyl Ketone Market - Definitions |
| 2.2.1.Application |
| 2.2.2.End User |
| 2.2.3.Region |
| 3.Global Methyl Ethyl Ketone Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Methyl Ethyl Ketone Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Methyl Ethyl Ketone Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Solvent |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Resin |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Printing Ink |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Adhesive |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Other Applications |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Methyl Ethyl Ketone Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Paints and Coatings |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Rubber |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Construction |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Packaging |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Chemical and Pharmaceutical |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Agricultural |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Other End-User Industries |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Methyl Ethyl Ketone Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Methyl Ethyl Ketone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Solvent |
| 8.1.2.Resin |
| 8.1.3.Printing Ink |
| 8.1.4.Adhesive |
| 8.1.5.Other Applications |
| 8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Paints and Coatings |
| 8.2.2.Rubber |
| 8.2.3.Construction |
| 8.2.4.Packaging |
| 8.2.5.Chemical and Pharmaceutical |
| 8.2.6.Agricultural |
| 8.2.7.Other End-User Industries |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Methyl Ethyl Ketone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Solvent |
| 9.1.2.Resin |
| 9.1.3.Printing Ink |
| 9.1.4.Adhesive |
| 9.1.5.Other Applications |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Paints and Coatings |
| 9.2.2.Rubber |
| 9.2.3.Construction |
| 9.2.4.Packaging |
| 9.2.5.Chemical and Pharmaceutical |
| 9.2.6.Agricultural |
| 9.2.7.Other End-User Industries |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Methyl Ethyl Ketone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Solvent |
| 10.1.2.Resin |
| 10.1.3.Printing Ink |
| 10.1.4.Adhesive |
| 10.1.5.Other Applications |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Paints and Coatings |
| 10.2.2.Rubber |
| 10.2.3.Construction |
| 10.2.4.Packaging |
| 10.2.5.Chemical and Pharmaceutical |
| 10.2.6.Agricultural |
| 10.2.7.Other End-User Industries |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Methyl Ethyl Ketone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Solvent |
| 11.1.2.Resin |
| 11.1.3.Printing Ink |
| 11.1.4.Adhesive |
| 11.1.5.Other Applications |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Paints and Coatings |
| 11.2.2.Rubber |
| 11.2.3.Construction |
| 11.2.4.Packaging |
| 11.2.5.Chemical and Pharmaceutical |
| 11.2.6.Agricultural |
| 11.2.7.Other End-User Industries |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Methyl Ethyl Ketone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Solvent |
| 12.1.2.Resin |
| 12.1.3.Printing Ink |
| 12.1.4.Adhesive |
| 12.1.5.Other Applications |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Paints and Coatings |
| 12.2.2.Rubber |
| 12.2.3.Construction |
| 12.2.4.Packaging |
| 12.2.5.Chemical and Pharmaceutical |
| 12.2.6.Agricultural |
| 12.2.7.Other End-User Industries |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Exxon Mobil Corporation |
| 13.2.2.Sasol |
| 13.2.3.Maruzen Petrochemical |
| 13.2.4.Shell Chemicals |
| 13.2.5.Credence Chem Private Limited |
| 13.2.6.Ineos Solvents |
| 13.2.7.Goenka Chemical Industries. |
| 13.2.8.Nutan Chemicals |
| 13.2.9.Mirdula Detergent (p) Ltd. |
| 13.2.10.Madhu Chemicals. |
| 13.2.11.Unipetro Private Limited |
| 13.2.12.Shree Chem. |
| 13.2.13.TASCO Group |
| 13.2.14.PetroChina Company Limited |
| 13.2.15.Tonen Chemical Corp |
| 13.2.16.Idemitsu Kosan Co.,Ltd. |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.