Global methyl isobutyl ketone (MIBK) market is predicted to exceed USD 800 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
Surging methyl isobutyl ketone demand for rubber processing chemicals in construction and automotive industry in a bid to enhance oxidation, rubber hardness, and resistance of rubber to mechanical stresses and heat, as it advances properties for several end-use applications, will augment market revenues. Furthermore, MIBK is used as surface coating solvent in these industries. Hence, rising acceptance of the product across various industries will drive methyl isobutyl ketone market growth over the projected timeline.
Methyl isobutyl ketone is powerful solvent for synthetic resins, used in enhancing solid coatings because of its high solvent property and low density. Moreover, MIBK having high dilution ratio is an ideal solvent for adhesives, inks, and coatings; water miscibility and low surface tension makes it a fine extraction agent in the dewaxing and de-oiling of petroleum goods. Similarly, its applications in manufacturing germicides, fungicides, pharmaceuticals, electroplating solutions, and as a denaturant in various ethanol preparations, would trigger the product demand in the coming years.
On the other hand, the highly toxic nature of methyl isobutyl ketone, which when exposed to air can cause serious effects to environment and health of humans, would deter market growth to some extent over the projected timeline.
Nonetheless, these negative properties of the MIBK are driving the market for bio-based MIBK, which are eco-friendly and cost-effective. This transition towards the eco-friendly alternatives of MIBK will produce humongous opportunities in the upcoming years.
In terms of the application landscape, the market is segmented into surfactants, rubber processing chemical, solvent, extraction solvent, as well as other applications such as denaturant, fertilizers, insecticides, etc. The findings of the report suggest that surfactants application segment would grow at a suitable rate and surpass USD 35 million by 2025. Industries like construction, automotive, and marine consistently demand MIBK as a surfactant for an array of purposes including foaming, anti-foaming, emulsifying, wetting, dispersing, and cleaning which is likely to amplify product demand in the ensuing years.
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The end-user spectrum of MIBK is categorized into agrochemicals, pharmaceuticals, automotive, paints & coatings, and others including building and constructions, marine, etc. Automotive segment is projected to grow at considerable rate to surpass USD 145 million by 2025. The increasing rubber processing demand in the segment would propel the product demand in the approaching years.
From a regional perspective, Middle East & Africa is projected to amass a CAGR of 3.5 percent by revenue over the projected timespan. This can be attributed to nations in the region like UAE, Saudi Arabia, Kuwait which will possibly offer profit-making opportunities in the market due development activities in the region and to surging demand for commercial infrastructure.
The competitive spectrum of methyl isobutyl market encompasses Sasol, Mitsubishi Chemicals, Royal Dutch Shell, Arkema Group, Mitsui Chemicals, The Dow Chemical Co., Kumho P&B, Eastman Chemical Company, LCY Group, Celanese Corporation, Chemicals Inc., Sigma-Aldrich, Lee Chang Yung Chemical, and Jilin Chemicals.