Frequently Asked Questions
The increasing use in manufacturing cosmetics and personal care products is the market’s growth. The rising demand for the methyl isobutyl ketone market is rapidly increased in the automotive sector due to the highly suitable solvents for rubber chemicals used in the production of rubber for tires, and it is also used for metallic parts and plastic vehicles component of internal and external types these factors are increasing the methyl isobutyl ketone market.
The global methyl isobutyl ketone market is anticipated to grow at a substantial CAGR of 3.90% in the forecast period. The global methyl isobutyl ketone industry was estimated to be worth USD 695.2 billion in 2021 and was expected to be worth USD 874.58 billion by 2028.
The Asia pacific methyl isobutyl ketone market has grown due to increasing industrialization and construction sectors. Moreover, these factors, such as easily available raw materials, cheap labor costs and the development of new applications such as automobiles and rubber processing, fulfill the demands. These increasing applications are the factor in the market growth in the Asia-Pacific region.
The main competitors dominating the global methyl isobutyl ketone market include Arkema Group, Celanese Corporation, Eastman Chemical Company, Kumho P&B Chemicals Inc., LCY Chemical Corp., Mitsubishi Chemical Corporation, Mitsui Chemicals Inc., Royal Dutch Shell PLC, and Sasol Limited.