Global Market Study on Methyl Ethyl Ketone: Solvent Segment to Exhibit Above Average Growth During 2018-2026
- Rep Id : XPLREP3112
- Published On : October, 2018
- No. of Pages : 250
- Category : Chemicals
- Publisher : Persistence Market Research
XploreMR provides an exclusive analysis of the global Methyl Ethyl Ketone (MEK) market in its latest report titled ‘Methyl Ethyl Ketone Market: Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2026’. This report provides key insights pertaining to the global MEK market. For a better understanding of the global MEK market, the report comes with an analysis of factors, such as drivers, restraints, trends, production overview, Porter's analysis, pricing analysis, key regulations and application-wise analysis. This MEK market report offers a broad analysis of the global MEK market, in terms of volume (Kilo Tons) & value (US$ Mn) and year wise growth (Y-O-Y).
The report on the global MEK market starts with the executive summary and market introduction, taxonomy of MEK, which provide a broad view of the global MEK market. The next section of the report includes the market viewpoint, macroeconomic factors, parent market outlook and value chain analysis, forecast factors and impact analysis.
After this, the drivers, restrains, trends and opportunities in the MEK market impacting manufacturers have been assessed. The MEK market has been witnessing a steady increase in demand. The paints and coatings market is estimated to expand at a strong growth rate during the forecast period owing to the growth of construction activities across the globe. This, in turn, is projected to drive the demand for MEK during the forecast period.
The demand for agricultural products is on the rise owing to the continuous growth in population. However, the cultivable land across regions is reducing. Amidst the current scenario of the widening demand-supply gap, the demand for agro-chemicals is gaining momentum. Agro-chemicals comprise fertilizers, pesticides, biocides and insecticides. MEK is used as a solvent in the formulation of agrochemicals, such as pesticides and others. Hence, the growing demand for agrochemicals is expected to augment the growth of the MEK market in the coming years. Although MEK (MEK) offers several advantages, it requires expert handling at every level and a tremendous amount of effort is expended in its safe production and handling. MEK is a highly flammable liquid with low flash point of 30 °C. Attributing to its high flammability, MEK is classified as hazardous for transport under transport regulations. Further, during transportation or storage, MEK must be kept away from sources of ignition and substances with oxidizing properties and contact should be avoided with copper and copper alloys, aluminum and aluminum alloys, butylene, Buna N and neoprene. The transportation of large quantities of MEK requires extreme precautions, to protect both the chemical and the personnel in contact with these chemical during transportation. Hence, flammability and acute hazards pertaining to MEK are expected to slightly hamper the market growth in the near future. Amidst the ongoing competition in the global MEK market, particularly in the European region, several manufacturers are strongly focusing on the enhancement of their production capacities. Surging demand for MEK, particularly from the growing electronics industry and solvent applications, is expected to drive the demand in the MEK market.
The next section of the global MEK market report includes patent analysis and regulations of MEK for seven key regions. The section that follows analyses the global MEK market on the basis of segments and presents a forecast for the period 2018-2026. The global MEK market has been segmented on the basis of application, end-use and regions, as mentioned below.
Segmentation of the global MEK market by application:
- Printing Inks
- Chemical Intermediate
- Lube oil dewaxing
- Magnetic Tapes
Segmentation of the global MEK market by end use:
- Paints & Coatings
- Artificial Leather
- Chemical & Pharmaceutical
Segmentation of the global MEK market by region:
- North America
- Latin America
- Middle East & Africa
- South East & Asia Pacific & Other APAC
The last section of the report includes a competitive dashboard, key developments, SWOT analysis and financial analysis, which includes market share analysis and provides information and analysis of major players based on the categories of manufacturers and service providers across the value chain and their presence in the global MEK market.
To understand the opportunities and trends, this global MEK market report has been segmented on the basis of two criteria, i.e. application and end-use industry. For market data analysis, we have considered 2017 as the base year. First, basic data related to MEK was collected from sources including product manufacturers, end-user procurement agencies, distributors and regional representatives. Moreover, public data sources, such as industry association reports, government directives & press reports, reports from financial rating and assignment agencies, were also considered. After this, the collected data was distributed on the basis of different verticals, considering both supply-demand drivers and trends across numerous regional markets. Historic data includes data for the period 2013-2017. This base year information was further spilled across categories as mentioned in market taxonomy. After that data was validated where the market assessment was deduced from the hypothesis model.
This detailed level of information is important for identifying the various key trends governing the global MEK market. The report also analyses the MEK market based on incremental dollar opportunity & global absolute dollar opportunity. For the validation from the supply side, the market segments by tier, application and processing capability, the market structure and sales footprint of major vendors were assessed. Likewise, in pricing analysis, the weighted average price of the commercially-available grade was calculated & a forecast was derived through our proprietary forecast model. Numerous factors were taken into consideration while forecasting the price.