Global Methyl Ethyl Ketone Market

Methyl Ethyl Ketone Market Size, Share, Growth Analysis, By Application(Solvent, printing inks), By End-use(Paints & coating, rubber) - Industry Forecast 2024-2031

Report ID: SQMIG15A2260 | Region: Global | Published Date: July, 2036
Pages: 260 | Tables: 68 | Figures: 75

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Methyl Ethyl Ketone Market size was valued at USD 3375 million in 2019 and is poised to grow from USD 3525.16 million in 2023 to USD 5066.45 million by 2031, growing at a CAGR of 4.62% in the forecast period (2024-2031).

methyl ethyl ketone market is a consolidated market, where few major players hold a significant share of the market demand. Every player is adopting its own unique way of marketing and trying to attract as much revenue as possible in order to maintain a significant position in the overall market competition. Some of the players are investing in research and development of better methyl ethyl ketone market to help in improving the brand portfolio, while others are engaging in collaborations and joint ventures to collectively improve the CAGRs of their respective companies during the forecast period. 'Arkema S.A.', 'Idemitsu Kosan Co. Ltd.', 'ExxonMobil Chemical', 'Sasol', 'Shell Chemicals', 'Maruzen Petrochemical', 'PetroChina', 'Tasco Chemical', 'SK Energy', 'Zibo Qixiang Petrochemical Group', 'Domo Chemicals', 'PTT Chemical', 'Mitsui Chemicals', 'LCY Chemical Corp.', 'Hanwha Chemical', 'Tasnee', 'Tasco Chemical', 'Eastman Chemical Company', 'Celanese Corporation', 'Solvay'

Increasing technological advancements and modernization in the production techniques and rising research and development activities in the market to create new opportunities for the methyl ethyl ketone market.

Rapid growth in pharmaceutical antiseptics and anesthetics liquids and creams is significantly harnessing the market. MEK is widely used as a surgical and medical instrument cleaning agent because it has the ability to effectively kill bacteria. MEK, an active cleaning chemical, is also used in the cleaning of electronics, fiberglass, and automotive care products.

Asia Pacific is expected to dominate the methyl ethyl ketone owing to growing investments into residential and commercial construction in countries such as India, China, the Philippines, Vietnam, and Indonesia. 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. Indonesian 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.

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