Methyl Ethyl Ketone Market
Methyl Ethyl Ketone Market for Paints & Coatings, Printing Inks and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Press Release :
MEK (methyl ethyl ketone) is mainly used as a solvent in variety of applications owing to itsexcellent chemical properties such as low boiling point, fast evaporation rate, high solvency and high viscosity. The major industrial applications of MEK include paints and coatings, printing inks, plastics and textiles among others. The revenue generated by the global MEK market was 2,254.1 million in 2012which is expected to reach USD 3,064.5 million by 2019, growing at a CAGR of 4.5% from 2013 to 2019.
Paints and coatings applications segment was the largest market segment of MEK in 2012. The paints and coatings segment of the MEK market generated revenue of USD 1,223.0million in 2012.The rapidly growing infrastructure sector especially in developing nations is driving the paints and coatings market, which in turn is expected to fuel the demand for MEK in the next few years. Printing inks, plastics and textilesarethe other major application segments ofMEK.The demand for printing inks is likely to grow due to the rising demand from publishingand packaging industries among others. The increasing number of applications of MEK such as adhesives for PVC pipes, rubber based cements, resins thinners, lacquers in furniture industryand extraction solvent for pharmaceuticals among others, is expected to drive the MEK market in future.
Asia Pacific represents the largest and the most important market for the MEK industry.TheMEKmarket in Asia Pacificis mainly driven by robust growth in the paints and coatings marketdue to heavy consumption from manufacturing and construction industries. North America is the second largest market for MEK followed by Europe and RoW. Due to the growing automobile and infrastructure industries in India and China, Asia Pacific is expected to be the key market for MEK in the future.
MEK is an organic compound used as solvents in several applications such as paints and coatings, printing inks, adhesive for PVC pipes, ingredient in rubber-based industrial cements and resin thinners. The value chain for MEK market comprises of feedstock suppliers, producers, distributors, buyers and end user industries. Procurement of raw material is made from the big petrochemical companies. Various petroleum by-products are used as raw materials for the production of MEK. The raw material prices fluctuate as petrochemicals are the base for extraction of raw materials. Major petrochemical companies are integrated backward as they manufacture MEK along with its feedstock. These largecompanies have their own distribution channel while smaller companies generally opt for private distributors.The application products of MEK are consumed by various end user industries such as paints and coatings, pharmaceutical, construction, automotive, furniture and electronic goods.
The increasing number of industrial applications is also expected to drive the MEK demand throughout the forecast period. The growth of the MEK market is expected to be limited by certain factors such as the health issues associated with use of MEK, the volatility in raw material prices, as well as the growing demand for its substitutes. There are certain other factors such as growing environmental concerns and strict governmental regulations that are secondary challenges for the growth of the MEK market.ExxonMobil Chemical, Maruzen Petrochemical Co. Ltd., Zibo QixiangPetrochemical Industry Group Co. Ltd., Arkema S.A., Sasol Solvents, Shell Chemicals, SK Energy Co. Ltd., PetroChina Lanzhou Petrochemicals, and Idemitsu Kosan Co. Ltd. are some of the key producers of MEK.
The report covers forecast and analysis for the methyl ethyl ketone (MEK) market on a global and regional level. The demand forecast is done based on volumes (kilo tons) and revenue (USD million) for the period ranging from 2013 to 2019. The study includes the drivers and restraints for the MEK market along with the impact they have on the demand over the forecast period. In addition, the report includes the study of the opportunities available in the MEK market on a global and regional level.
To give the users of this report a comprehensive view on the MEK market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of the Porter’s five forces model for the MEK market has also been included. The study encompasses a market attractiveness analysis, wherein the applications are benchmarked based on their market size, growth rate and general attractiveness.
The study provides a decisive view on the MEK market by segmenting the market based on its product segments and applications. All the product and application segments have been analyzed based on present and future trends and the market is estimated from 2013 to 2019. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the World (RoW). This segment includes demand for individual applications and product segments in all the regions.
Inflation is not part of pricing in this report. Prices of MEK vary in each region. Hence, similar volume to revenue ratio does not follow for each individual region. Same price for each application has been taken into account while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down this market by end application in each region. This report provides the market size of MEK for the past year and forecasts for the next five years. The global MEK market size is given in terms of volume as well as revenue. Market volumes are defined in kilo tons and market revenue is in USD million. Market numbers are based on different MEK and key end application markets. The market size and forecast for each major application is provided in the context of global as well as regional market.
The report covers detailed competitive outlook including market share and company profiles of the key participants operating in the global MEK market. Key players profiled in the report include ExxonMobil Chemical, Maruzen Petrochemical Co. Ltd., Zibo Qixiang Petrochemical Industry Group Co. Ltd., Arkema S.A., Sasol Solvents, Shell Chemicals and PetroChina Lanzhou Petrochemicals among others. The company profiles include attributes like company overview, financial overview, business strategy, SWOT analysis and recent developments.
For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the typical data types to produce estimates. These data type include demographic data such as population split by segments, macroeconomic indicators such as GDP, inflation rate, etc. and industry indicators such as expenditure, technology stage and infrastructure, sector growth and facilities. This data is then cross-checked by an expert panel.
MEK Market - Application Segment Analysis
- Paints & Coatings
- Printing Inks
- Others (Plastics, textiles, rubber-based industrial cements, etc.)
MEK Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the world