Methyl Ethyl Ketone (MEK) Market Size By Application (Paints & Coatings, Adhesives, Printing Inks), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Landscape & Forecast, 2015 – 2022

Methyl Ethyl Ketone Market Size

Methyl Ethyl Ketone (MEK) Market size was estimated at over 1.4 million tons in 2014 and is likely to exceed 1.9 million tons by 2022, with gains at over 4%. Increase in paints & coatings demand owing to growth in construction spending, particularly in Asia Pacific and Middle East & Africa, is likely to drive the industry over the forecast period.
 

Methyl ethyl ketone market is widely used as solvent in paints & coating applications owing to properties such as low viscosity, strong solvency and high evaporation rate. It is mainly used with polyurethane, epoxy, acrylic and polyester coatings due to miscibility with hydrocarbons without any effect on its characteristics.
 

Asia Pacific construction spending market was dominated by China, India and Indonesia. China construction spending was worth around USD 1.78 trillion in 2014, whereas India and Indonesia construction spending was over USD 425 billion and USD 265 billion respectively in 2014. Asia Pacific construction sector was the largest and accosted for close to 40% of the total volume in 2014. This factor is likely to drive methyl ethyl ketone market over the forecast period.
 

Global increase in vehicle sales over the past few years and expected production rise over the forecast period is likely to drive methyl ethyl ketone market share for paints & coating applications. It is also used as solvent in automotive paints industry which is essential for durable coating. Global vehicle (commercial & passenger) production was close to 84 million units which is expected to surpass 100 million units by 2018.
 

It is used in conjunction with alcohol for pharmaceutical industry to manufacture products such as anesthetics, antiseptics, lotions and medical drugs. Increasing number of healthcare facilities coupled with advancing medical research is likely to drive demand for pharmaceutical applications. Breaking quaternary structure of proteins and increase drug penetration are major factors for its use in pharmaceutical applications. Favorable crude and downstream petrochemical supply is expected to result in an attractive methyl ethyl ketone market price trend over the forecast period.
 

Stringent environmental norms over health concerns are likely to challenge industry growth. The EPA enacted the 33/50 Program which invites the voluntary reduction of the emissions of certain high priority toxic materials which includes MEK.
 

Methyl Ethyl Ketone Market Analysis

Paints & coatings application dominated with revenue generation exceeding by USD 1.2 billion in 2014. This application is likely to witness significant gains up to 2022. Paints & coatings include powder coatings, waterborne coatings, solvent borne technologies and specialty coatings. Increasing demand for powder coatings from automobiles and electronics industry is expected to drive methyl ethyl ketone market demand.
 

Printing inks application accounted for over 14% of the total volume in 2014 and is likely to witness significant growth rate up to 2022. Methyl ethyl ketone (MEK) is extensively used and preferred solvent in printing industry owing to advantages offered such as excellent drying times, adhesion with substrates such as plastics, metals & glass and allowing formulation of specialized inks. Growth of end-use industries such as food processing, pharmaceuticals and cosmetics are anticipated to drive the methyl ethyl ketone market demand for printing ink applications.
 

APAC market size was dominant with China being the largest consumer base in 2014. China accounts for more than 35% of the total installed capacity. Growth of end-use industries such as construction, automobiles and electronics is likely to drive the methyl ethyl ketone market share in the region.
 

North America industry was majorly driven by the U.S. and occupied a share of over 18% in 2014. North America is likely to witness moderates growth rates during the forecast period owing to recovery of industries post the recession coupled with emphasis on using green solvents driven by strict environmental norms.
 

MEA occupied a smaller chunk of the global share with countries such as Saudi Arabia, Qatar, Bahrain and UAE methyl ethyl ketone market expected to witness an increase from paints & coatings demand owing to growth of construction industry.
 

Methyl Ethyl Ketone Market Share

The global methyl ethyl ketone industry share is concentrated with top four industry players catering to over 50% of the total demand. Major industry participants include
 

• ExxonMobil
• Zibo Qixiang
• Maruzen Petrochemicals
• Sasol Solvents

Other prominent industries include
 

• Shell Chemicals
• Arkema
• Petro China
• Idemistsu Kosan
• Lanzhou Petrochemicals
• SK Energy
   

Methyl ethyl ketone market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and Square Meters and revenue in USD from 2015 to 2022, for the following segments:

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By Product

• Paints & Coatings
• Adhesives
• Printing Inks

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Thailand
• LATAM
  • Brazil
• MEA
  • Saudi Arabia
  • UAE
  • South Africa