The global methyl isobutyl ketone market is forecast to reach USD 1,101.0 Million by 2028, according to a new report by Reports and Data. The Methyl Isobutyl Ketone is a colorless, highly flammable, water-soluble industrial and commercial chemical with a sweet and pleasant odor. Methyl Isobutyl Ketone is mostly used as a solvent in the manufacturing of surface coating applications and are also widely utilized as an intermediate solvent chemical in the formulation of various chemical processing. Methyl isobutyl ketone for its combination of high solvent activity with low density is very useful in developing high-solids coatings and are highly demanded in the coating industry. The continuous expansion of the paint coatings, varnishes, adherents, inks, acrylics, flavoring agent, food-contact packaging products, and non-edible use pesticide products are expected to drive the demand throughout the forecast period. Growing demand for automotive tire usages are harnessing the growth of this market substantially.
Top Companies Operating in the Global Methyl Isobutyl Ketone Market:
LCY Chemical Corp., Kumho PB Chemicals, Royal Dutch Shell PLC, Mitsui Chemicals, Tokuyama Corporation, Celanese Corporation, Eastman Chemical Company, Ningbo Oceanking Chemical Development Co Ltd., Sasol Limited, and ISU Chemical.
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Further key findings from the report suggest
- Methyl isobutyl ketone is a synthetic chemical compound to be used in the direct solvent and are widely used in the direct chemical formulations. Coating, inks, varnishes, lacquers, extraction direct agent in the dewaxing deoiling of the petroleum products are some of its end-use applications. The direct solvent is forecasted to reach a market share of 34.5% by 2027 growing with a rate of 6.2% during the period 2019 – 2027.
- Chemical intermediate segment is measured to gain a market revenue of USD 197.2 Million by 2027, and the CAGR is forecasted to be 5.4% in the forecast period. Methyl isobutyl ketone is utilized as the active chemical intermediate with polyesters, epoxies, cellulosic, vinyl copolymers alkyds, and acrylics, among other types of resins.
- Growing penetration of the online retailing businesses for the chemicals and materials especially in the emerging nations in Asia Pacific is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, with non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027.
- Europe would reach a market share of 20.5% by 2027 and would grow at a CAGR of 4.9% in the forecast period. Netherland and France have some of the valuable players in this region.
- North America is forecasted to witness a significant growth in the overall market, with 25.7% of market possession by 2027 and a CAGR of 6.0% during the forecast period. US possessed the highest market share in this region.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Methyl Isobutyl Ketone Market Segmentation
End-Use Outlook (Revenue: USD Million; Volume: Kilo Tons; 2018-2028)
- Direct Solvent
- Chemical Intermediate
- Surface Adherent
- Pesticides
- Chemical Reagents
- Others
Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2018-2028)
- Online Retailing
- Offline Retailing
Applications Outlook (Revenue: USD Million; Volume: Kilo Tons; 2018-2028)
- Paints Coatings
- Rubber Adhesive
- Chemical Pharmaceuticals
- Food Packaging Flavoring
- Others
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