What is the global market size of Methyl Ethyl Ketone Market?

Methyl Ethyl Ketone Market size was valued at USD 3375 million in 2021 and is poised to grow from USD 3525.16 million in 2022 to USD 5066.45 million by 2030, growing at a CAGR of 4.62% in the forecast period (2023-2030).

Methyl Ethyl Ketone Market Size, Share, Growth Analysis, By Application(Solvent, printing inks, chemical intermediate, lube oil dewaxing), By End-use(Paints & coating, rubber, artificial rubber, packaging), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Methyl Ethyl Ketone Market?

Global 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 global 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 Global Chemical', 'Mitsui Chemicals', 'LCY Chemical Corp.', 'Hanwha Chemical', 'Tasnee', 'Tasco Chemical', 'Eastman Chemical Company', 'Celanese Corporation', 'Solvay'.

Report ID: SQMIG15A2260 | Region: Global | Published Date: October, 2024
Pages: 260 | Tables: 68 | Figures: 75

Methyl Ethyl Ketone Market Regional Insights

Asia Pacific is expected to dominate the global 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.

The market in Europe is expected to grow rapidly due to growing paints and coatings industry, which is driving construction activities. Furthermore, the methyl ethyl ketone market has seen significant growth in the automotive and agrochemical sectors. The region's increased vehicle production is expected to boost the consumption of methyl ethyl ketone in paints and coatings.

Middle East & Africa is the expected to grow at a notable CAGR due to rising rapid growth of the construction industry in gulf countries including UAE, Saudi Arabia, Qatar, and others in this region.

Methyl Ethyl Ketone Market Report Snapshots

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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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Methyl Ethyl Ketone Market Size, Share, Growth Analysis, By Application(Solvent, printing inks, chemical intermediate, lube oil dewaxing), By End-use(Paints & coating, rubber, artificial rubber, packaging), By Region - Industry Forecast 2024-2031

Methyl Ethyl Ketone Market Regional Insights

Methyl Ethyl Ketone Market Report Snapshots

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