Transparency Market Research is Published new Market Report “Methyl
Ethyl Ketone Market for Paints & Coatings, Printing Inks and Other
Applications - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2013 - 2019" which observes that the revenue generated by
MEK (methyl ethyl ketone) market was USD 2,254.1 million in 2012 and is
expected to reach USD 3,064.5 million by 2019, growing at a CAGR of 4.5% from
2013 to 2019. The global demand for MEK was 1,180.6 kilo tons in 2012.
MEK is an organic compound mainly used as solvents in several
applications such as paints and coatings, printing inks, adhesive for PVC
pipes, ingredient in rubber based industrial cements, resins thinners, cleanup
applications, as lacquers and solvents in pharmaceuticals among others. MEK
peroxides are also used as catalyst in polymerization of polyester resins.
Global demand for MEK is mainly driven by rising demand for paints and coatings
from automobile, infrastructure and furniture industries.
Paints and coatings accounted for about 56% of the total market share of
MEK in 2012. Paints and coatings are widely consumed by automobiles and
construction industries. Moreover, the automotive and construction markets are
recovering rapidly which is anticipated to act as a driver for the growth in
the MEK market. Printing inks segment is also an important market for MEK and
is expected to show the fastest growth over the forecasted period. Apart from
these applications, MEK solvents are used in the pharmaceutical industry as extractor
and as a catalyst for certain reactions, thus the growing pharmaceutical
industry is expected to drive the global MEK market in the next few years. In
addition, the number of applications for MEK is rising due to increasing living
standards, industrial growth and technological advancements. Thus the rising
number of MEK applications can turn out to be a key growth driver in the
future.
The global MEK market is dominated by Asia Pacific, which accounted for
over 50% of the global volumes consumed in 2012. Growth of MEK market in Asia
Pacific is mainly driven by the rising consumption from the automobile and
infrastructure industry in China, India and Japan. Asia Pacific was followed by
North America with over 18.8% share in total volume consumption. The key
players in the MEK market are ExxonMobil Chemical, Maruzen Petrochemical Co.
Ltd., Zibo Qixiang Petrochemical Industry Group Co. Ltd., Arkema S.A., Sasol
Solvents, Shell Chemicals, SK Energy Co. Ltd., PetroChina Lanzhou
Petrochemicals, and Idemitsu Kosan Co. Ltd. among others.
Browse
Full Report With TOC : http://www.transparencymarketresearch.com/methyl-ethyl-ketone.html
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.
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.
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