Methyl Ethyl Ketone (MEK) Market Will Accomplish Outstanding USD 4.01 billion Figure By 2025
What is a Methyl-ethyl-ketone (MEK):
Methyl-ethyl-ketone(MEK) is a colourless and a harsh smelling carbon-based compound.
It is commonly identified as butanone. It is characterized by outstanding
chemical properties including high viscosity, low boiling point, high solvency
and high evaporation rate owing to which it is used as a solvent across several
applications.
This liquid has a sweet smell indicated the presence of
acetone and butterscotch, hence is produced on a large scale in the industries.
Photo-oxidation of air pollutants such as hydrocarbons and butane results in
the form of MEK.
It is widely used in industrial applications as it is easily
soluble in water. The primary usage of MEK is as a solvent in processes
involving gums cellulose acetate, resins and cellulose nitrate. Other end use
applications where MEK is used include domestic products such as lacquer and
varnishes, synthetic rubber, paraffin wax and glues as well as paint remover.
What is the Methyl-ethyl-ketone
Market Size:
The global methyl ethyl ketone (MEK) market was valued at USD
2.56 billion in 2015 and is anticipated to reach USD 4.01 billion by 2024.
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MEK
is acts as a natural component in foods, a wide assortment of cheeses, beans,
honey, chicken and apple juice. MEK is also found in drinking water and surface
water at numerous sites. One can also come I contact with MEK through contact
with household products which contains chemicals or even at the workplace. The
quantity, frequency and length of exposure can affect the health of a person.
Effects can vary from irritation and headaches to severe damage to skin and
nervous system. However, with strict government regulations and rising
environmental concerns, the market is expected to experience a downturn as MEK
has been marked for its harmful nature in Toxic Substances Control Act by EPA
among others. Secondary challenges that can hamper market growth include
presence of substitute compounds and raw material price sensitivity.
The
global MEK market is led by a few manufacturers, particularly based out of
China. Despite this, the MEK demand is anticipated to be comparatively slow.
Nonetheless, its global supply is expected to rise considerably after the
revival of Asia’s leading facility situated in China that had been closed down
in 2011 due to damages caused by earthquakes.
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Methyl-ethyl-ketone
Market Application:
The
compound is used as a solvent in various applications and primarily in
paints& coatings and printing inks owing to its properties such as low
boiling points and low viscosity. Other applications include rubber-based
industrial cement, textiles, plastics, cleaning agents and PVC piping. In the
pharmaceutical industry, MEK is used in resins and thinners that are applied as
lacquers/solvents. In addition, MEK peroxides are used as a catalytic agent in
the polymerization process of polyester resins. Global demand for MEK is driven
by the rising demand for paints and coatings from furniture, automobile and
infrastructural industries.
The
higher solvency and lower density of ketones compared to the corresponding
ester substitutes contribute to reduced VOC content just by changing to ketone
solvents such as MEK. Owing to the dual functionality, MEK has slow evaporation
rate, complete solubility in water and high solvent strength which gives it a
unique advantage as a solvent in water-based coatings.
For
achieving stable production rates and minimizing operational challenges in the
production system of MEK, the primary areas requiring attention are
Instrumentation and metallurgy in process control parameters, scheduled
maintenance and Inspection and acid handling areas.
Methyl-ethyl-ketone Reginal Demand
The
global market is segmented into four regions: North America, Europe, Asia
Pacific, and Row. Asia Pacific is expected to dominate the MEK industry and
emerge as the market leader. This can be attributed to the steady growth in paints
&coatings market resulting from heavy consumption in manufacturing and
construction industries. The European market is anticipated to experience
uniform growth trends on account of stringent regulations and increasing
concerns regarding health and fitness which are restraining the use of methyl
ethyl ketone in this region. Market demand in the U.S is projected to be
stable, and the declining prices are expected to further increase its demand in
the coming years.
What are the methyl
ethyl ketone Producer?
Key
participants of the methyl ethyl ketone market include Arkema S.A., Shell
Chemicals, Exxon Mobil, Sasol Solvents, Maruzen Petrochemical Co Ltd., SK
Energy Co Ltd., Petro China, Lanzhou Petrochemicals and Idemitsu Kosan Co. Ltd.
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