MEK, abbreviation for Methyl Ethyl
Ketone, is a popular name in the solvents industry and is a widely
preferred solvent for paints and coatings. It is estimated that half of
the global demand for MEK comes from the paints and coatings industry.
Its unique properties, especially that of a low boiling solvent, make
it an ideal solvent for rubber based cements and printing inks, which
contribute to its growing demand.
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The global MEK market is dominated by
select manufacturers only, and most of them are concentrated in China.
Despite the demand being expected to be low in near future, the global
supply has increased significantly, after the reopening of Asia’s
largest facility. The facility with a production capacity of 170,000
tonne per year is owned by Japanese firm Maruzen Petrochemical, and is
located in China. The shutdown of plant post the earthquake in China in
2011 for repair works, had dented the global supply of MEK, sending the
global prices soaring to highest levels. The high prices had affected
the global trade of MEK as end users resorted to alternate solvents.
The crunching profit margins of traders further contributed to the fall
in demand and consumption of MEK globally.
However, with global economy reviving
the market is showing signs of recovery, and is expected to see
acceleration in its growth rate. The market in Europe is expected to
show flat growth trends due to rising health concerns and stringent
regulations, which are restricting the use of MEK. In U.S market, the
demand will be stable and drop in prices is expected to loft it higher
in due course of time. However, in situations of global prices not
reviving the market is expected to see a further drop in growth. Most of
its growth is expected in Asia market, with china leading the pack.
The U.S and Europe markets are at maturity, and will remain flat.
The categorization of MEK as a HAP
(Hazardous Air Pollutant) chemical in 1980s in U.S and then removal from
the HAP list in 2005 have not helped the market to revive, despite the
growing American housing sector. The slumping automobile industry had
further contributed to stagnant growth of the MEK market in U.S. This
has forced U.S chemical companies to look for alternate markets. The
chemical company Celanese exited the U.S market and closed its
production plant in Texas in 2009, following the U.S market growth
retardation. However, the fast expanding housing sector in emerging
markets of China, India, and other Asian countries, is expected to drive
the market growth.
Some of the leading market players
include names such as - Maruzen Petrochemical Co Ltd., Shell Chemicals,
Solventis Ltd., Arkema Inc., Sasol Solvents, ExxonMobil Chemical Ltd.,
Tasco Chemical Corp., and Celanese AG.
This research report analyzes this market depending on its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report
also includes a review of micro and macro factors essential for the
existing market players and new entrants along with detailed value
chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
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applications is referred to as “nanomedicines”. Nanomedicines are an emerging
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chronic diseases.
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