Methyl Ethyl Ketone Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast to 2019
DUBLIN, February 21, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/nd2vhc/methyl_ethyl) has announced the addition of the "Methyl Ethyl Ketone Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast to 2019" report to their offering.
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MEK (methyl ethyl ketone) is mainly used as a solvent in variety of applications owing to its excellent 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 2012 which 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 1,223.0 million 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 textiles are the other major application segments of MEK. The demand for printing inks is likely to grow due to the rising demand from publishing and 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 industry and 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. The MEK market in Asia Pacific is mainly driven by robust growth in the paints and coatings market due 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.
Key Topics Covered:
2 Executive summary
3 Methyl Ethyl Ketone - Industry Analysis
4 Methyl Ethyl Ketone - Application Analysis
5 Methyl Ethyl Ketone - Regional Analysis
6 Company Profiles
- Arkema S.A.
- ExxonMobil Chemical Ltd.
- Fushun Petrochemical Company
- Idemitsu Kosan Company Limited
- Maruzen Petrochemical Co. Ltd.
- PetroChina Lanzhou Petrochemical Company
- Royal Dutch Shell
- SK Energy Co. Ltd.
- Sasol Limited
- Tasco Chemical Corporation
- Tonen Chemical Corporation
- Zibo Qixiang Petrochemical Industry Group Company Ltd.
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SOURCE Research and Markets