Methyl Ethyl Ketone (MEK) Market is Expected to Grow at a CAGR of 4.80% by 2030 | ChemAnalyst

NEW YORK - Nov. 2, 2021 - PRLog -- According to ChemAnalyst report, "Methyl Ethyl Ketone (MEK) Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030". Methyl Ethyl Ketone market witnessed a demand of around 1.15 million tons globally in 2020 and is anticipated to grow at a significant rate with a healthy CAGR of 4.80% until 2030 attributed to its surging demand as a solvent in various end use industries.

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Methyl Ethyl Ketone (MEK) is a colorless, highly flammable, volatile, low viscosity liquid with a characteristic odor like Acetone. MEK is an extremely good solvent and easily soluble in many natural and synthetic resins, but partially soluble in water. Methyl Ethyl Ketone is manufactured commonly by 2-Butanol dehydrogenation and this reaction is catalyzed by cooper, zinc, or bronze. MEK is also produced via direct oxidation of n-butene and isobutyl benzene using palladium or cupric chlorides as catalysts. Moreover, Methyl Ethyl Ketone can also be extracted in fractions in the manufacturing process of butane-based acetic acid as a by-product.

Methyl Ethyl Ketone market is segmented into two grades as Regular Grade and Urethane Grade. Urethane Grade comprises of superior properties than Regular Grade MEK such as fast evaporation and lower boiling point and employed prominently in preparing adhesives, coatings, printing inks, lacquers and varnishes etc. Additionally, before paint application, it is also utilized as a superb thinner to remove contaminants and oils from metal surfaces.

Major players for Methyl Ethyl Ketone globally are ExxonMobil Chemical company, Sasol Ltd., Arkema S.A., Maruzen Petrochemical Co. Ltd., Royal Dutch Shell Plc., Ineos Group, SK Energy Co. Ltd., and Petro China Company Ltd., Tonen Chemicals Corp., Idemitsu Kosan Co. Ltd., Tasco Chemical Co., and Fushun Petrochemical Company.