Industry Overview to
2023:
Methyl Isobutyl Ketone
(MIBK) is also known as mono-isobutyl ketone. It is a stable, clear, and
colorless liquid with a pleasant odor. Around 60% of the MIBK is manufactured
by aldol condensation of acetone and its derivative intermediates, mesityl
oxide, and diacetone alcohol. Methyl Isobutyl Ketone are found naturally in
orange and lemon juice, vinegar, papaya, baked potatoes, grapes, ginger,
cheese, milk, plum, mushrooms, and others. MIBK is compatible with many organic
materials, which makes it a superior industrial solvent. It is widely used as a
chemical intermediate, extracting agent, solvent, and denaturant in numerous
end use industries such as pharmaceuticals, agrochemicals, paints &
coatings, and automotive among others. Other industries include packaging,
rubber manufacturing, and cosmetics.
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As per our analysis,
some of the prominent Industry factors and trends identified in the global Methyl
Isobutyl Ketone Industry Industry include rising demand for MIBK solvent for
coatings in automobile and electronics industry, increasing demand for
adhesives, paints, and coatings on account of growing construction spending.
Additionally, rapid industrialization coupled with rising per capita disposable
income is expected to drive the Industry growth during the review period.
Moreover, to meet a diverse set of needs resulted due to huge demand from
agrochemical industry is predicted to boost the Industry growth during the
given period. These are widely used in the manufacturing of cosmetics and
personal care products, thus, the consumption of MIBK in recent years is set to
increase and is likely to fuel the Industry growth. Regulatory bodies,
specifically in developed countries, have imposed stringent regulations on MIBK
manufacturers regarding its toxicity level, which is estimated to hamper the Industry
growth over the assessment period.
Global Key Players:
· Eastman Chemical Company
· The Dow Chemical Company
· Shell Chemicals
· Arkema Group
· Kumho P&B Chemicals Inc.
· LCY GROUP.
· Celanese Corporation
· Mitsui Chemicals, Inc
· NINGBO OCEANKING CHEMICAL DEVELOPING CORPORATION
· Zhejiang Xinhua Chemical Co.,Ltd.
· Sasol
Regional Analysis: The Methyl Isobutyl Ketone Industry Industry is segmented into five regions: Asia
Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Asia Pacific is estimated to grow at the fastest CAGR during the review period
on account of increasing demand from end use industries such as automobiles,
agrochemicals, and construction among others. The demand for methyl isobutyl
ketone is projected to surge in developing countries such as India, China, and
Malaysia due to increasing automobile production and sales. Moreover, ease in
availability of raw material, relatively cheap labor cost, and implementation
of new development strategies to fulfil the demand for methyl isobutyl ketone
in the increasing applications are the prominent factors for the regional Industry
growth.
Asia Pacific has emerged
as the largest Industry for methyl isobutyl ketone followed by North America
and Europe. North America is expected to witness a steady growth in MIBK Industry
due to the increased usage in pharmaceutical and packaging industries. North
American countries such as the U.S. and Canada are among the key contributors
in the regional Industry growth and are expected to witness regional Industry
growth in the upcoming years. Countries in Europe such as Spain, Germany, and
the UK have emerged as the regional consumer Industrys due to developed end use
industries and rising consumer spending on personal care products. Additionally,
the Middle East & Africa is expected to witness a moderate growth over the
forecast period. Rising construction spending in commercial as well as
institutional sector, especially, in Qatar, Saudi Arabia, and the United Arab
Emirates (UAE) is projected to positively influence methyl isobutyl ketone
business during the assessment period.
Segmentation: The global Methyl Isobutyl Ketone Industry
Industry is segmented based on application, end use industries, and regions. On
the basis of application, the Industry is segmented into solvent, chemical
intermediate, extracting agent, denaturant, and others. On the basis of end use
industries, the Industry is categorized into paints & coatings,
pharmaceuticals, agrochemical, automotive, and others. On the basis of regions,
the Industry is segmented into Asia Pacific, Europe, Latin America, North
America, and the Middle East & Africa.
Geographical Analysis: The report covers brief analysis of geographical
regions such as North America, Latin America, Europe, Asia Pacific, and the
Middle East & Africa. Intended Audience
- Methyl
Isobutyl Ketone manufacturers
- Traders
and Distributors of methyl isobutyl ketone
- Production
Process Industries
- Potential
Investors
- Raw
Material Suppliers
- Nationalized
Laboratory
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