METHYL ISOBUTYL KETONE MARKET 2021: INDUSTRY TRENDS, GROWTH, SIZE, SEGMENTATION, FUTURE DEMANDS, LATEST INNOVATION, SALES REVENUE BY REGIONAL FORECAST

Methyl Isobutyl Ketone Market will surpass USD 800 million by 2025; according to a new research report.

Rising demand of methyl isobutyl ketone for rubber processing chemicals in automotive and construction industry in order to improve the oxidation, resistance of rubber to heat, mechanical stresses and hardness of rubber, that will advance its properties for various end-use applications. Moreover, MIBK is also used as a solvent for surface coating applications in these industries. Increasing importance of the product in these industries will boost methyl isobutyl ketone market growth globally.

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Methyl isobutyl ketone is an effective solvent for synthetic resins, which makes it useful in improving high-solid coatings owing to its combination of low density, and high solvent property. Furthermore, MIBK possessing high dilution ratio makes it an appropriate solvent for coatings, inks and adhesives; Low surface tension and water miscibility makes it a decent extraction agent in the de-oiling and dewaxing of petroleum products. Likewise, its use in manufacture of fungicides, germicides, electroplating solutions, pharmaceuticals and as a denaturant in several ethanol formulations, which will propel the product demand in the near future.

Being highly toxic in nature when exposed to air, that may cause serious impacts to human health and environment, which may hinder the market growth of product for the projected timespan. Nevertheless, these adverse properties of the MIBK is driving the adaption and importance of bio based MIBK, that are cost-effective and eco-friendly in nature. This shift towards the eco-friendly MIBK will generate copious opportunities in the near future.

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Middle East & Africa is expected to cross a CAGR of 3.5% by revenue for the projected timespan. This is due to countries in the region such as Saudi Arabia, UAE, Kuwait are likely to provide profitable opportunities for the product market owing to the increasing demand for commercial infrastructure and development activities in the region.

Key product competitors in market are Kumho P&B, The Dow Chemical Company, Arkema Group, Royal Dutch Shell, Mitsubishi Chemicals, Sasol, Sigma-Aldrich, Chemicals Inc., Mitsui Chemicals, Celanese Corporation, LCY Group, Eastman Chemical Company, Lee Chang Yung Chemical and Jilin Chemicals.

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