Methyl Isopropyl Ketone or 3-Methyl-2-butanone is a colorless liquid with a sweet acetone like smell. It is highly flammable. Methyl Isopropyl Ketone is stable, does not polymerize and is highly compatible with a variety of organic reagents. It shows low solubility in water in comparison to other ketones and is used primarily in industrial applications as a chemical intermediate as a process solvent.
Generally, ketones are exhaustively used as a liquid solvent during the production of adhesives, printing inks, surface coatings, chemical intermediates and magnetic tapes and lube oil de waxing agents. Industrial processes are one of the leading consumers of Methyl Isopropyl Ketone as it is used as a solvent in various processes.
Methyl Isopropyl Ketone caters to the chemical needs of a variety of industries ranging from chemicals and paints to textile, food, chemical and leather. Increasing use of bio-based and green solvents is the new rising trend in the industrial solvents market and this may impact market growth in the coming years. Adding to this, most of the industries are heavily regulated across the globe, so producers might be forced to adopt low-solvent technologies and this may negatively impact the overall market growth in near future.
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Methyl Isopropyl Ketone Market: Drivers and Restraints
A mild coating of acetone or Methyl Isopropyl Ketone imparts a high gloss finish to 3D printed parts and reduces print layer ridges. As a result, the demand for Methyl Isopropyl Ketone will witness growth in near future as this product will be increasingly utilized to carry out various intermediate processes in a wide variety of industries. Process solvents will continue to account for the majority of this demand for Methyl Isopropyl Ketone.
The industrial solvents market has significantly changed modern living and made solvents one of the most valuable and useful products for various end user industries and manufacturing companies. The final products include pharmaceuticals, cosmetics, printing ink, paints & coatings and adhesives. The demand for Methyl Isopropyl Ketone as industrial solvents will be driven by the growth in the electronic, pesticides, photographic reproduction and textile industries. Huge amounts of Methyl Isopropyl Ketone is also used as a dissolution agent in different industries for various purposes such as cleansing, degreasing and purification.
The growing demand from pharmaceutical, paints and coating industry is fueling the global demand for Methyl Isopropyl Ketone. Asia Pacific has become a global manufacturing hub and is attracting major players, which are targeting high growth markets such as India and China. However, strict legal regulations and growing environmental awareness amongst end user industries are major restraints for the Methyl Isopropyl Ketone market in the APAC region.
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Methyl Isopropyl Ketone Market: Region Wise Outlook
The global Methyl Isopropyl Ketone Market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The demand for Methyl Isopropyl Ketone in the United States, Western Europe and Japan has reached a mature stage and the growth of the market is generally dependent on the health of the economy, especially housing, construction and transportation. The APEJ and Latin America region will also register steady growth due to ongoing rapid industrialization and growing demand for consumer & household products, mainly in emerging economies such as India and China. MEA is also projected to expand with a significant CAGR over the forecast period.
Examples of some of the market participants in the Global Methyl Isopropyl Ketone Market identified across the value chain include:
- The Dow Chemical Company
- Royal Dutch Shell Plc
- Kumho P&B
- Lee Chang Yung Chemical
- Celanese Corporation
- Eastman Chemical Company
- Mitsubishi Chemical Holdings Corporation
- Mitsui Chemicals, Inc.,
- Carboclor S.A
- Monument Chemical
- Sasol Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends and Issues and Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.