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Methyl Isobutyl Ketone Market By End use industry (Automotive, Paints and coatings, Cosmetics, Agrochemicals, Other) By Application (Rubber processing, Surfactants, Pesticides, Other) - Growth, Share, Opportunities & Competitive Analysis, 2018 - 2028

About this report

The global Methyl Isobutyl Ketone Market report explores the critical analysis of the Methyl Isobutyl Ketone industry using key parameters. The report consists of investment strategies, the need for investments in the methyl isobutyl ketone industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the methyl isobutyl ketone industry and how economic and non-economic barriers are helping the methyl isobutyl ketone market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

methyl-isobutyl-ketone-market

Key Highlights of the report

How are the major segments performing in the Methyl Isobutyl Ketone Market?

  • In 2021, paint and coating dominated the end-use industry segment. It dominates the segment due to the increasing constructing sectors, such as building construction. Methyl isobutyl ketone is widely used in paints and coatings as a chemical solvent. 
  • In 2021, the rubber processing category led to the segment in the application. It dominates the segment due to the methyl isobutyl ketone's wide range of applications used in industries that produce pieces of machinery and rubber products. 

Which region dominated the Methyl Isobutyl Ketone Market?

In 2021, Asia pacific will be the major contributor to the global methyl isobutyl ketone market. Due to production and sales, India and China have developed countries that have projected the demand for the methyl isobutyl ketone market. 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.

What is the competitive environment of the Methyl Isobutyl Ketone Market?

The methyl isobutyl ketone industry's competitive environment offers information on the total economic profit made by suppliers and businesses, the sales and revenues produced in this sector, the methyl isobutyl ketone market share globally, the business organization overview, the introduction of new products, and the opportunities for the industrial methyl isobutyl ketone market. For instance, in April 2022, Eastman Chemical Company announced that it and certain of its subsidiaries had completed the sale of its adhesive's resins business to Synthomer plc. The sale included hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid-based resins product lines, all of which were previously part of Eastman's Additives & Functional Products segment.

Executive Summary

How does the Paints and Coatings industry support the Methyl Isobutyl Ketone Market?

Methyl isobutyl ketone is a solvent that is mostly used in the production of surfactants and paints, and coatings. Thus, the automotive industry's increasing demand for paints and coatings due to the rising trend of deploying many types of coating on vehicles is expected to support the growth of methyl isobutyl ketone during the forecast period. Furthermore, individuals are also applying different types of coating in commercial and residential buildings, which will also aid the growth methyl isobutyl ketone market globally.

Which are the key investments by the players in the Methyl Isobutyl Ketone Market?

Methyl isobutyl ketone has been used in various industries such as automotive, paints and coatings, and others due to their exceptional flexibility and adaptability in any setting. Various investments are made among the key player. For instance, in June 2022, Kumho Petrochemical and its subsidiaries announced that it would invest USD 4.8 billion in the next five years into materials used in the automotive and chemical industries. Similarly, in August 2021, Mitsubishi Chemical Corporation plans to invest around USD 915 million to build a production facility in the state of Louisiana, U.S. Through this, the company will expand its market presence and increase its production, which will help in revenue generation during the forecast period. 

Some of the major players in the market are 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.

What are the Major Driving Factors for the Methyl Isobutyl Ketone Market?

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. Furthermore, the rapid industrialization of the construction sector is also expected to grow the methyl isobutyl ketone market. 

What are the Major Risks for the Methyl Isobutyl Ketone Market?

The government in various countries is expected to have strict environmental regulations due to the high toxicity of methyl isobutyl ketone. It affects hazardous to human health include weakness, dizziness, breathing the vapor can cause headache, loss of appetite, diarrhea and vomiting, and it may also damage the liver and kidneys. Thus, the harmful effects of methyl isobutyl ketone factors are expected to hamper market growth.

Which is the key End-use industry in the Methyl Isobutyl Ketone Market?

The End-use industry is categorized into automotive, paints and coatings, cosmetics, agrochemicals and others. The paints and coating segment dominated the Methyl isobutyl ketone market in 2021. Due largely to the rapid industrialization of constructing sectors, such as paint and coating are used to protect buildings and infrastructures. Furthermore, the paint and coating have experienced considerable growth over the past two years. Therefore, some key drivers influencing the application of methyl isobutyl ketones, such as automobiles, agrochemicals, rubber products and others, are the market's growth. The automotive segment dominates the market due to the manufacturing of motor vehicles, engines and bodies, batteries, and others, and the economy's growth during the forecast period.  

How is the Methyl isobutyl ketone Market performing in regions?

In 2021, Asia pacific will be the major contributor to the global methyl isobutyl ketone market. The Asia pacific methyl isobutyl ketone market has grown due to increasing industrialization and construction sectors. In addition, due to production and sales, India and China have developed countries that have projected the demand for the methyl isobutyl ketone market. 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. Therefore, these factors are expected to drive the Asia-Pacific region with a significant CAGR during the forecast period.

The North American region is expected to grow in the methyl isobutyl ketone market due to its increasing use in the pharmaceutical and packaging industry. This region has become a valuable market for personal care products. The methyl isobutyl ketone market in the North American region is anticipated to grow fastest. The region is home to the high majority of emerging countries going through fast urbanization, making it the active region worldwide for urbanization. The North American countries such as U.S, Germany and Spain are key contributor's regional market growth. 

What is the regulatory landscape for the Methyl Isobutyl Ketone Market?

The regulatory landscape for this market is that governments support using methyl isobutyl ketone. The harmful effects of methyl isobutyl ketone on individuals are rashes, dryness, redness, and others. Thus, many governments have denied the petition for the methyl isobutyl ketone ban in the past few years. Moreover, the widespread use of this chemical in many industries such as automotive, rubber, and others which is also improved the country's GDP growth.

What is the Market Size of Methyl Isobutyl Ketone regarding value?

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.

What are major players planning for the future of the methyl isobutyl ketone market?

The key players in the methyl isobutyl ketone market are investing heavily in expanding themselves by acquiring other companies to expand their customer base in the global market. Additionally, the forecast period scenarios indicate that well-known market players would make major investments in small and medium-sized companies to provide effective solutions to the industry. There are high predictions that the major players will acquire or merge with the major companies or startups to gain a competitive edge.

Segmentation of Global Methyl Isobutyl Ketone Market-

Global Methyl Isobutyl Ketone Market – By End use industry

  • Automotive 
  • Paints and coatings 
  • Cosmetics 
  • Agrochemicals 
  • Other

 Global Methyl Isobutyl Ketone Market – By Application

  • Rubber processing
  • Surfactants
  • Pesticides
  • Other

Global Methyl Isobutyl Ketone Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently Asked Questions (FAQs):

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.

Methyl Isobutyl Ketone Market Scope

Report Attribute Details
Market Value in 2021 USD 695.2 billion
Market Value in 2028 USD 874.58 billion
CAGR 3.90%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Sep 2022
Category:  Chemicals
Report ID:   60623
Report Format:   PDF
Pages:   190
Rating:    4.8 (60)
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