New York, NY -- (SBWIRE) -- 12/24/2020 -- Methyl Isobutyl Ketone, also termed as MIBK, is a highly flammable liquid which has a sweet and pleasant odour. It is a colourless liquid which is mainly used as a solvent in resins, gums, varnishes, paints, nitrocellulose and lacquers. It is used as an antiozonant which is used in tyres. It has low solubility in water, which makes it useful for liquid-liquid extraction. It is used to extract precious metals like gold and silver from cyanide solutions. It is also used in denatured alcohol as a denaturing agent. The Methyl Isobutyl Ketone is projected to grow at a rate of 5.5% in terms of value, from 2019 to reach USD 1,048.9 Million by 2027

Key participants include -

LCY Chemical Corp., Kumho P&B Chemicals, Royal Dutch Shell PLC, Mitsui Chemicals, Tokuyama Corporation, Celanese Corporation, Eastman Chemical Company, Ningbo Oceanking Chemical Development Co Ltd., Sasol Limited, and ISU Chemical.

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Market Drivers

The market expansion is due to the high demand for methyl isobutyl ketones from paints and coatings applications which constitute almost 36.4% of the market share. It is extensively used as an organic solvent in industrial and commercial industries. It is also used in adhesives and rubbers, which constituted for nearly 22.6% of the market share in 2018. The surging demand for premium tyres and growth in the automobile industry is likely to favor MIBK industry growth.

End-Use Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)

Direct Solvent
Chemical Intermediate
Surface Adherent
Pesticides
Chemical Reagents
Others

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Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)

Online Retailing
Offline Retailing

Applications Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)

Paints & Coatings
Rubber & Adhesive
Chemical & Pharmaceuticals
Food Packaging & Flavoring
Others

The report covers the following regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Regional Analysis

The regional analysis constitutes the market share distribution amongst North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America region is estimated to account for 25.7% of the market share, delivering a CAGR of 6% through 2027. Europe constitutes 20.5% of the market share and is forecast to register a CAGR of 4.9% over the forecast period.

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Key Questions Addressed in the Report:

Who are the prominent players of the Methyl Isobutyl Ketone market?
What is the expected growth rate of the Methyl Isobutyl Ketone market for the forecast timeline?
What are the recent mergers and acquisitions the industry has witnessed?
What are the key factors likely to drive or impede the growth of the market over the projected timeline?
What regions and segments are anticipated to show promising growth over the coming years?

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