Increasing demand for methyl isobutyl ketone in the online retailing business coupled with high investments in R&D of methyl isobutyl ketone are fueling the market growth.
New York, NY -- (SBWIRE) -- 05/06/2021 -- The global Methyl Isobutyl Ketone Market is forecast to reach USD 1,048.9 Million by 2027, according to a new report by Reports and Data. The Methyl Isobutyl Ketone is a colorless, highly flammable, water-soluble industrial and commercial chemical with a sweet and pleasant odor. Methyl Isobutyl Ketone is mostly used as a solvent in the manufacturing of surface coating applications and are also widely utilized as an intermediate solvent chemical in the formulation of various chemical processing. Methyl isobutyl ketone for its combination of high solvent activity with low density is very useful in developing high-solids coatings and are highly demanded in the coating industry. The continuous expansion of the paint & coatings, varnishes, adherents, inks, acrylics, flavoring agent, food-contact packaging products, and non-edible use pesticide products are expected to drive the demand throughout the forecast period. Growing demand for automotive tire usages are harnessing the growth of this market substantially.
Asia Pacific region is forecasted to grow fastest with the highest growth rate of 6.4% in the period 2019 - 2027, owing to high market penetration in paints & coatings and food packaging applications coupled with extensive demand for the automotive tires, especially in the regions like India and China.
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Methyl isobutyl ketone is a synthetic chemical compound to be used in the direct solvent and are widely used in the direct chemical formulations. Coating, inks, varnishes, lacquers, extraction direct agent in the dewaxing & deoiling of the petroleum products are some of its end-use applications. The direct solvent is forecasted to reach a market share of 34.5% by 2027 growing with a rate of 6.2% during the period 2019 – 2027.
Chemical intermediate segment is measured to gain a market revenue of USD 197.2 Million by 2027, and the CAGR is forecasted to be 5.4% in the forecast period. Methyl isobutyl ketone is utilized as the active chemical intermediate with polyesters, epoxies, cellulosic, vinyl copolymers alkyds, and acrylics, among other types of resins.
Growing penetration of the online retailing businesses for the chemicals and materials especially in the emerging nations in Asia Pacific is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, with non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027.
Europe would reach a market share of 20.5% by 2027 and would grow at a CAGR of 4.9% in the forecast period. Netherland and France have some of the valuable players in this region.
North America is forecasted to witness a significant growth in the overall market, with 25.7% of market possession by 2027 and a CAGR of 6.0% during the forecast period. US possessed the highest market share in this region.
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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The report further segments the market on the basis of product types and application spectrum offered by the market.
End-Use Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)
Direct Solvent
Chemical Intermediate
Surface Adherent
Pesticides
Chemical Reagents
Others
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
Regional Outlook (Revenue in USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Methyl Isobutyl Ketone Market Segmentation & Impact Analysis
4.1. Methyl Isobutyl Ketone Market Material Segmentation Analysis
4.2. Industrial Outlook
……………
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. LCY Chemical Corp.
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Kumho P&B Chemicals
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Royal Dutch Shell PLC
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Mitsui Chemicals
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Tokuyama Corporation
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Methyl Isobutyl Ketone market and its competitive landscape.
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