The Methyl Ethyl Ketone (MEK) is expected to grow at a CAGR of 5% during the forecast period i.e. 2018 to 2023, significantly because of the expanding interest for paints and coatings, attributable to different constructional exercises over the globe.
What is Methyl Ethyl Ketone (MEK)?
Methyl Ethyl Ketone (MEK) is a naturally occurring product. It is produced by some trees and also found in some fruits and vegetables in small amounts. It is also released to the air from car and truck exhausts. It is a colourless volatile liquid with a pungent odour having a Flashpoint of 20°F. It does not react with water or many common materials, irritates the nose, eyes, and throat.
Applications of Methyl Ethyl Ketone (MEK):
MEK is a liquid solvent utilized in surface coatings, adhesives, printing inks, chemical intermediates, magnetic tapes and lube oil dewaxing agents. It is additionally used as an extraction medium for fats, oils, waxes and resins. It is a highly efficient and versatile solvent for surface coatings, so it is especially valuable in detailing high solids coatings, which help to reduce emanations from coating operations. It is a Food and Drug Administration (FDA) approved indirect food additive for adhesives and polymers
Trends in Methyl Ethyl Ketone (MEK) Market:
- The increase in demand the paints and coatings industry is anticipated to boost the worldwide methyl ethyl ketone market amid the conjecture time frame. The paints and coatings industry represented almost half of the of the methyl ethyl ketone market. As far as area is considered, Asia Pacific represented the major share of methyl ethyl ketone peroxides market. China and India are the significant purchasers of methyl ethyl ketone as developing populace in these nations have increased the interest in paints and coatings, pharmaceutical, printing inks and rubber.
- April 2017: ExxonMobil Chemical Company expanded the capacity of its global hydrocarbon fluid assets by more than 250,000 metric ton per year, at its world-scale petrochemical sites in Antwerp, Belgium; Baytown, Texas; and Jurong Island, Singapore.
Key Players in Methyl Ethyl Ketone (MEK) market:
The companies referred to in the market research report includes industry key players in the market are Sigma-Aldrich (US), Arkema SA (France), ExxonMobil (US), Lanzhou Petrochemicals (China), Maruzen Petrochemicals (Japan), Sasol (South Africa), Shell Chemicals (Netherlands), SK Energy Company Ltd (Korea), Tasco Chemicals (Taiwan), Amphochem AB (Sweden), Merck (Schweiz) AG (Switzerland), Brenntag Polska Sp. (Poland), Acros Organics BVBA (Belgium) among others.
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The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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