Methyl Ethyl Ketone (MEK) Market

Industry Overview

The global Methyl Ethyl Ketone (MEK) Market was valued at USD 1.4 billion in 2023 and is predicted to reach USD 1.6 billion by 2030, growing at a CAGR of 4.5% during the forecast period. The primary factors leading to the growth in the market for MEK are the increasing demand for MEK for paints and coatings and printing inks. Also, the demand is fuelled by consumption in the Asia region.

Market Segmentation

Insight by Application

Based on application, the global methyl ethyl ketone market is categorized into paints & coatings, printing inks, adhesives, and others. Paints and coatings are the main application of MEK. MEK is a common ingredient in solvent paints. MEK finds its application as a low-boiling solvent for acrylic, nitrocellulose, and vinyl surface coatings applied at a certain pressure to the laminate which is generally low. MEK as an ingredient in paints finds applications in automotive, electrical other end-use industries. Paints and coatings accounted for 56.4% of consumption of the MEK globally in 2019.

Some of the other applications of MEK include in polymerization processing of styrene-butadiene rubber (SBR) and polystyrene, acrylonitrile-butadiene-styrene (ABS).

Global Methyl Ethyl Ketone (MEK) Market Report Coverage

Industry Dynamics

Growth Drivers

Methyl ethyl ketone appears as a colorless fairly volatile liquid with a pleasant pungent odor. This organic compound is also known as MEK or 2-butanone, which is a very popular and commercially important industrial solvent. It is used as a solvent in a range of substances, most specifically in resinous substance material. This includes solvent-based adhesives, polyurethane slurry for synthetic leather, paints, and coatings, printing inks, and magnetic tapes, as well as use as a dewaxing agent during the refining of lube oils, a degreaser for metal surfaces and electronic devices, and raw material for manufacturing methyl ethyl ketone oxime. As a result, the growing production or usability of the above-stated resinous material is fueling the usage of methyl ethyl ketone as a solvent and has also emerged as the prominent growth driver in the global methyl ethyl ketone market. MEK is highly effective when used as a solvent which makes it valuable in formulating high-solid coatings that further help in emission reduction in coating practices. Hence, an increase in the usage of industrial solvents to produce coatings makes MEK a regular consumer in industrial applications thereby offering promising revenue opportunities.

In addition to this, MEK is a component of the solvent system used in producing magnetic tapes; this makes it popular as a solvent among industrial applications. Most importantly, its use as a solvent in the polymerization process of styrene-butadiene rubber, polystyrene, and acrylonitrile-butadiene-styrene is turning MEK into a perfect industrial solvent. Meaning that the increase in production of the above-stated rubber types is offering a massive scope of utilization. Polystyrene and ABS both types are significantly adopted in the automotive industry in a range of applications; therefore, MEK is a regular consumer in the automotive industry.

Challenges

Methyl ethyl ketone is toxic/poisonous in nature which leads to serious complications to management. Methyl ethyl ketone is a highly toxic liquid as a solvent and is a strong oxidizing agent and is also corrosive in nature. Besides this, it is organic peroxide, which is explosive in its pure form. MEK peroxide is listed as a highly toxic substance and is categorized into United Nations Hazard Class 5.2. Its colorless nature and minimal odor have led to accidental ingestion both among adults and children. Several cases of intentional ingestion for self-harm or suicide have been reported. Also, poisoning by inhalation and spillage to eyes leading to corrosive damage has been reported. Unprotected workers are victims of chronic exposure and toxicity. Therefore, toxicity associated with MEKP is a major concern that leads to serious health concerns which are also hampering the growth of this market. Similar trends are anticipated to continue over the forecast period as well. On the other hand, it is used in solvent-borne coatings which are known for releasing VOC content and causing environmental impact. The consumption of solvent-borne coating has registered a slight decline due to the rising demand for waterborne coating that causes no or less environmental damage.

Geographic Overview

Asia-Pacific methyl ethyl ketone market is studied across China, India, Japan, South Korea, Taiwan, and the rest of Asia-Pacific. Asia-Pacific is the world’s largest market for methyl ethyl ketone product family in terms of both production and consumption. As of 2019, Asia-Pacific accounted for over 50% market share in terms of demand for MEK whereas in terms of production capacity, only China and Japan alone accented for roughly 45% global capacity as of 2019. The high growth of this region is mainly credible to flourishing growth in the paints and coating sector, consistent rise in chemical production and resulting need for chemical intermediate, and rising use of adhesive formulations. Printing inks is an emerging sector in the Asia-Pacific region mostly in economies like Japan, Indonesia, and Taiwan; whereas China, India, and Korea are a few of the matured country-level markets. Increasing the use of printing inks is further complementing the adoption of methyl ethyl ketone.

Competitive Insight

Key players operating in the global MEK market include ExxonMobil Corporation, Royal Dutch Shell PLC, Sasol Limited, Nouryon, Cetex Petrochemicals, INEOS Solvents, Tasco Chemicals, Zibo Qixiang Petrochemical Industry Group Co., Ltd., Maruzen Petrochemical Co., Ltd., Idemitsu Kosan Co. Ltd, Tonen Chemical, PetroChina Lanzhou Petrochemical, China Bluestar Harbin Petrochemical, Hebei Zhongjie Petrochemical Group Co. Ltd., and Bangkok Synthetics Co., Ltd.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

The Methyl Ethyl Ketone (MEK) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• Application
  • Paints & Coatings
  • Printing Inks
  • Adhesives
  • Others

Region Covered in the Report

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• U.K.

• France

• Italy

• Spain

• Russia

• Rest of Europe

• Asia-Pacific (APAC)

• China

• Japan

• Vietnam

• India

• South Korea

• Rest of Asia-Pacific

• Middle East and Africa (MEA)

• UAE

• Saudi Arabia

• South Africa

• Rest of MEA

• Latin America

• Argentina

• Brazil

• Chile

• Rest of LATAM

Source: VynZ Research

Source: VynZ Research

1.    MEK INDUSTRY OVERVIEW

        1.1.    Manufacturing Process
        1.2.    Growth Drivers
                1.2.1.    Growth in Adoption as a Solvent
                1.2.2.    Flourishing Paints and Coatings Sector
        1.3.    Restraints
                1.3.1.    Toxic Effects Associated with MEK
        1.4.    Opportunities
                1.4.1.    Digitalization in Paints and Coatings Sector and Expanding Usage of MEK in Packaging Sector

2.    Competitive Insight

        2.1.    Production Capacity
                2.1.1.    Supply/Demand Analysis
                2.1.2.    Major Global Producers – Capacity, Production & Share
                2.1.3.    Input Raw Material and Supply Chain
                2.1.4.    Butanol – EXIM Volume
                2.1.5.    Butanol – EXIM Prices

3.    Import and Export Analysis of MEK in Major Countries and Domestic Prices

        3.1.    Import and Export
        3.2.    MEK Import/Export and Pricing
        3.3.    MEK Domestic Prices Estimate

4.    Trade and Regulations

        4.1.    Anti-Dumping Duties
                4.1.1.    China
                4.1.2.    India
        4.2.    Regulations
                4.2.1.    US

5.    GLOBAL MARKET ESTIMATE AND FORECAST

        5.1.    Global Market Overview
        5.2.    Global Market Estimate and Forecast to 2030

6.    Market Segmentation Estimate and Forecast

        6.1.    By Application
                6.1.1.    Paints and Coatings
                        6.1.1.1. Market Definition
                        6.1.1.2. Market Estimation and Forecast to 2030
                6.1.2.    Printing Inks
                        6.1.2.1. Market Definition
                        6.1.2.2. Market Estimation and Forecast to 2030
                6.1.3.    Adhesives
                        6.1.3.1. Market Definition
                        6.1.3.2. Market Estimation and Forecast to 2030
                6.1.4.    Other Application
                        6.1.4.1. Market Definition
                        6.1.4.2. Market Estimation and Forecast to 2030

7.    NORTH AMERICA MARKET ESTIMATE AND FORECAST

        7.1.    North America Market Estimate and Forecast by Application
        7.2.    North America Market Estimate and Forecast by Country

8.    EUROPE MARKET ESTIMATE AND FORECAST

        8.1.    Europe Market Estimate and Forecast by Application
        8.2.    Europe Market Estimate and Forecast by Country

9.    ASIA-PACIFIC MARKET ESTIMATE AND FORECAST

        9.1.    Asia-Pacific Market Estimate and Forecast by Application
        9.2.    Asia-Pacific Market Estimate and Forecast by Country

10.    ROW MARKET ESTIMATE AND FORECAST

        10.1.    RoW Market Estimate and Forecast by Application
        10.2.    RoW Market Estimate and Forecast by Country

11.    Company Profile

        11.1.    ExxonMobil Corporation
                11.1.1.    Snapshot
                11.1.2.    Overview
                11.1.3.    Offerings
        11.2.    Royal Dutch Shell PLC
                11.2.1.    Snapshot
                11.2.2.    Overview
                11.2.3.    Offerings
        11.3.    Sasol Limited
                11.3.1.    Snapshot
                11.3.2.    Overview
                11.3.3.    Offerings
        11.4.    Nouryon
                11.4.1.    Snapshot
                11.4.2.    Overview
                11.4.3.    Offerings
                11.4.4.    Recent Development
        11.5.    Cetex Petrochemicals
                11.5.1.    Snapshot
                11.5.2.    Overview
                11.5.3.    Offerings
        11.6.    Ineos Solvents
                11.6.1.    Snapshot
                11.6.2.    Overview
                11.6.3.    Offerings
        11.7.    Tasco Chemicals
                11.7.1.    Snapshot
                11.7.2.    Overview
                11.7.3.    Offerings
        11.8.    Zibo Qixiang Petrochemical Industry Group Co. Ltd
                11.8.1.    Snapshot
                11.8.2.    Overview
                11.8.3.    Offerings
        11.9.    Maruzen Petrochemical Co., Ltd.
                11.9.1.    Snapshot
                11.9.2.    Overview
                11.9.3.    Offerings
        11.1.    Idemitsu Kosan Co. Ltd
                11.10.1. Snapshot
                11.10.2. Overview
                11.10.3. Offerings
        11.11.    Tonen Chemical
                11.11.1.    Snapshot
                11.11.2.    Overview
                11.11.3.    Offerings
        11.12.    PetroChina Lanzhou Petrochemical
                11.12.1.    Snapshot
                11.12.2.    Overview
                11.12.3.    Offerings
        11.13.    China Bluestar Harbin Petrochemical
                11.13.1.    Snapshot
                11.13.2.    Overview
                11.13.3.    Offerings
                11.13.4.    Recent Developments
        11.14.    Hebei Zhongjie Petrochemical Group Co. Ltd.
                11.14.1. Snapshot
                11.14.2.    Overview
                11.14.3.    Offerings
        11.15.    Bangkok Synthetics Co., Ltd.
                11.15.1. Snapshot
                11.15.2. Overview
                11.15.3. Offerings

12.    Research Overview

        12.1.    The Report Offers
        12.2.    Research Phases
        12.3.    Limitations
        12.4.    Market Size Estimations and Forecast
                12.4.1.    Data Sources
                        12.4.1.1. Primary Research
                        12.4.1.2. Secondary Research
                12.4.2.    Methodology
                        12.4.2.1. Data Exploration
                        12.4.2.2. Forecast Parameters
                        12.4.2.3. Data Validation
                        12.4.2.4. Assumptions
                12.4.3.    Study Period & Data Reporting Unit

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 MEK Production Capacity by Country, Thousand Tons (Estimated as of 2023)
Table 5 CHINA MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 6 CHINA MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 7 Japan MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 8 Japan MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 9 Taiwan MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 10 Taiwan MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 11 UK MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 12 UK MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 13 Netherlands MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 14 Netherlands MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 15 Germany MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 16 Germany MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 17 South Africa MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 18 South Africa MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 19 Brazil MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 20 Brazil MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 21 Thailand MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 22 Thailand MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 23 India MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 24 India MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 25 US MEK Production Capacity by Company  2018 – 2023 (Thousand Tons)
Table 26 US MEK Actual Production by Company  2018 – 2023 (Thousand Tons)
Table 27 Top Exporter Countries of Butanols,  2018 – 2023 (Thousand Tons)
Table 28 Top Importer Countries of Butanols,  2018 – 2023 (Thousand Tons)
Table 29 Butanol prices by Top Exporter Countries,  2018 – 2023 (USD/ton)
Table 30 Butanol prices by Top Importer Countries,  2018 – 2023 (USD/ton)
Table 31 Top Fifteen MEK importer Countries  2018 – 2023 (Thousand Tons)
Table 32 Top Fifteen MEK EXporter Countries,  2018 – 2023 (Thousand Tons)
Table 33 MEK Import Prices in major Countries,  2018 – 2023 (USD/Ton)
Table 34 EstimatedMEK domestic Prices in major Countries,  2018 – 2023 (USD/Ton)
Table 35 North America MEK Market Size, By Application, Thousand Tons ( 2018 – 2023)
Table 36 North America MEK Market Size, By Application, Thousand Tons ( 2025 – 2030)
Table 37 North America MEK Market Size, By Application, USD Billion ( 2018 – 2023)
Table 38 North America MEK Market Size, By Application, USD Billion ( 2025 – 2030)
Table 39 North America MEK Market Size, By Country, Thousand Tons ( 2018 – 2023)
Table 40 North America MEK Market Size, By Country, Thousand Tons ( 2025 – 2030)
Table 41 North America MEK Market Size, By Country, USD Billion ( 2018 – 2023)
Table 42 North America MEK Market Size, By Country, USD Billion ( 2025 – 2030)
Table 43 Europe MEK Market Size, By Application, Thousand Tons ( 2018 – 2023)
Table 44 Europe MEK Market Size, By Application, Thousand Tons ( 2025 – 2030)
Table 45 Europe MEK Market Size, By Application, USD Billion ( 2018 – 2023)
Table 46 Europe MEK Market Size, By Application, USD Billion ( 2025 – 2030)
Table 47 Europe MEK Market Size, By Country, Thousand Tons ( 2018 – 2023)
Table 48 Europe MEK Market Size, By Country, Thousand Tons ( 2025 – 2030)
Table 49 Europe MEK Market Size, By Country, USD Billion ( 2018 – 2023)
Table 50 Europe MEK Market Size, By Country, USD Billion ( 2025 – 2030)
Table 51 Asia-Pacific MEK Market Size, By Application, Thousand Tons ( 2018 – 2023)
Table 52 Asia-Pacific MEK Market Size, By Application, Thousand Tons ( 2025 – 2030)
Table 53 Asia-Pacific MEK Market Size, By Application, USD Billion ( 2018 – 2023)
Table 54 Asia-Pacific MEK Market Size, By Application, USD Billion ( 2025 – 2030)
Table 55 Asia-Pacific MEK Market Size, By Country, Thousand Tons ( 2018 – 2023)
Table 56 Asia-Pacific MEK Market Size, By Country, Thousand Tons ( 2025 – 2030)
Table 57 Asia-Pacific MEK Market Size, By Country, USD Billion ( 2018 – 2023)
Table 58 Asia-Pacific MEK Market Size, By Country, USD Billion ( 2025 – 2030)
Table 59 RoW MEK Market Size, By Application, Thousand Tons ( 2018 – 2023)
Table 60 RoW MEK Market Size, By Application, Thousand Tons ( 2025 – 2030)
Table 61 RoW MEK Market Size, By Application, USD Billion ( 2018 – 2023)
Table 62 RoW MEK Market Size, By Application, USD Billion ( 2025 – 2030)
Table 63 RoW MEK Market Size, By Country, Thousand Tons ( 2018 – 2023)
Table 64 RoW MEK Market Size, By Country, Thousand Tons ( 2025 – 2030)
Table 65 RoW MEK Market Size, By Country, USD Billion ( 2018 – 2023)
Table 66 RoW MEK Market Size, By Country, USD Billion ( 2025 – 2030)
Table 67 SNAPSHOT – ExxonMobil Corporation
Table 68 SNAPSHOT – Royal Dutch Shell Plc
Table 69 SNAPSHOT – Sasol Limited
Table 70 SNAPSHOT – Nouryon
Table 71 SNAPSHOT – Cetex Petrochemicals
Table 72 SNAPSHOT – INEOS Solvents
Table 73 SNAPSHOT – Tasco Chemicals
Table 74 SNAPSHOT – Zibo Qixiang Petrochemical Industry Group Co.,Ltd.
Table 75 SNAPSHOT – Maruzen Petrochemical Co., Ltd.
Table 76 SNAPSHOT – Idemitsu Kosan Co. Ltd
Table 77 SNAPSHOT – Tonen Chemical
Table 78 SNAPSHOT – PetroChina Lanzhou Petrochemical
Table 79 SNAPSHOT – China Bluestar Harbin Petrochemical
Table 80 SNAPSHOT – Hebei Zhongjie Petrochemical Group Co. Ltd.
Table 81 SNAPSHOT – Bangkok Synthetics Co., Ltd.

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Global MEK SUpply and Demand (2018 - 2030)
Figure 9 Global MEK Market Highlights
Figure 10 Global MEK Market Size, THOUSAND Tons (2018 - 2030)
Figure 11 Global MEK Market Size, USD Billion (2018 - 2030)
Figure 12 Global MEK Market Size for Paints and Coatings, Thousand Tons (2018 - 2030)
Figure 13 Global MEK Market Size for Paints and Coatings, USD Billion (2018 - 2030)
Figure 14 Global MEK Market Size for Printing Inks, Thousand Tons (2018 - 2030)
Figure 15 Global MEK Market Size for Printing Inks, USD Billion (2018 - 2030)
Figure 16 Global MEK Market Size for Adhesives, Thousand Tons (2018 - 2030)
Figure 17 Global MEK Market Size for Adhesives, USD Billion (2018 - 2030)
Figure 18 Global MEK Market Size for Other Applications, Thousand Tons (2018 - 2030)
Figure 19 Global MEK Market Size for Other Applications, USD Billion (2018 - 2030)
Figure 20 North America MEK Market Highlight
Figure 21 North America MEK Market Size, By Application, Thousand Tons (2018 - 2030)
Figure 22 North America MEK Market Size, By Application, USD Billion (2018 - 2030)
Figure 23 North America MEK Market Size, By Country, Thousand Tons (2018 - 2030)
Figure 24 North America MEK Market Size, By Country, USD Billion (2018 - 2030)
Figure 25 Europe MEK Market Highlight
Figure 26 Europe MEK Market Size, By Application, Thousand Tons (2018 - 2030)
Figure 27 Europe MEK Market Size, By Application, USD Billion (2018 - 2030)
Figure 28 Europe MEK Market Size, By Country, Thousand Tons (2018 - 2030)
Figure 29 Europe MEK Market Size, By Country, USD Billion (2018 - 2030)
Figure 30 Asia-Pacific MEK Market Highlight
Figure 31 Asia-Pacific MEK Market Size, By Application, Thousand Tons (2018 - 2030)
Figure 32 Asia-Pacific MEK Market Size, By Application, USD Billion (2018 - 2030)
Figure 33 Asia-Pacific MEK Market Size, By Country, Thousand Tons (2018 - 2030)
Figure 34 Asia-Pacific MEK Market Size, By Country, USD Billion (2018 - 2030)
Figure 35 ROW MEK Market Highlight
Figure 36 RoW MEK Market Size, By Application, Thousand Tons (2018 - 2030)
Figure 37 RoW MEK Market Size, By Application, USD Billion (2018 - 2030)
Figure 38 RoW MEK Market Size, By Country, Thousand Tons (2018 - 2030)
Figure 39 RoW MEK Market Size, By Country, USD Billion (2018 - 2030)