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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
The Asia Pacific Region to Provide Lucrative Opportunities for the Market Growth
The Asia Pacific region is anticipated to account for a significant share of the global market for methyl isobutyl ketone. The developing economies of the region are propelling the demand for the product. The healthy growth of the construction and automobile sectors in these countries is contributing to the market expansion. Kumho P&B Chemicals., Inc., one of the key players, is the leading producer of methyl isobutyl ketone in Asia and the largest manufacturer of the organic compound in the world.
The demand for methyl isobutyl ketone is being driven by the growing paints and coatings and automobile sectors, especially in countries like Brazil and Europe. Meanwhile, the market in North America is also a significant supply market. The demand from the surfactant, as well as the solvent extraction sector is also likely to grow in the coming years. Furthermore, the growing expenditure by the leading market players in the region, aimed at the expansion of production capacities, is anticipated to prove beneficial for the methyl isobutyl ketone market growth in the forecast period.
South Africa is a major exporting region, exporting large volumes of the product to countries like the United States, Singapore, and Europe, among others. The dominant producer in South Africa is Sasol Limited, accounting for a significant share of the output. The Asia Pacific region is also among the major producers with enough production to meet its regional demand. The region is still compelled to import the product to meet more than 10% of the regional demand due to changing preferences of the producers to produce alternative products to gain higher profit. North America is also an importing region, which relies on imports from South Africa to meet nearly 20% of its regional demand.
Methyl Isobutyl Ketone Market Report Snapshots
Methyl Isobutyl Ketone Market Size
Methyl Isobutyl Ketone Market Growth
Methyl Isobutyl Ketone Market Regional Analysis
Methyl Isobutyl Ketone Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a volume of nearly 469.88 thousand metric tons.
The market is estimated to grow at a CAGR of 3% between 2024 and 2032.
The market is being driven by the increasing construction activities in emerging markets and the rising demand for paints and coatings.
The key trends guiding the market include the expansion of production capabilities by key players, the increasing residential infrastructural development activities, and the growing use of methyl isobutyl ketone as a rubber antioxidant in tyre manufacturing.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of methyl isobutyl ketone in the market are paints and coatings, rubber antioxidants, solvent extraction, adhesives and inks, and surfactants, among others.
The major players in the market are Kumho P&B Chemicals., Inc., Royal Dutch Shell plc, Celanese Corporation, LCY Group, Mitsui Chemicals, Inc., Solvay S.A., and Sasol Limited, among others.
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