Methyl Ethyl Ketone is witnessing a growing demand over the period 2019 to 2029, due to extensive use in chemical intermediates, printing inks, magnetic tapes, lube oil dewaxing agents, adhesives, and surface coatings. Additionally, it is worth noting that it acts as an extraction medium for fats, resins, oils, and waxes. And, this wide application is driving growth in the global methyl ethyl ketone market over the stated period. In surface coatings, it is a versatile solvent and is known for its high efficacy, especially in coatings that are solid. There it cuts down the level of emissions that arise from operations.
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It is also quite pertinent to note here that the global methyl ethyl ketone market is witnessing a plethora of developments that are shaping the way market operates. For instance, in the year 2019, ArrMaz Custom Chemicals Inc. was taken over by Arkema SA. Arkema SA is a firm dabbling in advanced materials and specialty chemicals. It is French based while ArrMazz is United States based. Besides ArrMaz Custom Chemicals, Inc. is known for specialty surfactants. The move is set to consolidate market position of Arkema and improve demand for technical polymers and performance adhesives. Arkema will also witness a better regional penetration.
The global methyl ethyl ketone market is slightly fragmented and key players in the market are Exxon Mobil Corporation, Sasol Solvents, Royal Dutch Shell PLC, PetroChina Company Limited, Arkema S.A., and Maruzen Petrochemical Co. Ltd.
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It is worth noting here that as the construction volumes increase, so will demand for paints and coating. And, this in turn will help demand for methyl ethyl ketone market grow substantially between 2019 and 2029. By 2050, construction volumes will increase by 85%. This means the market would generate a slew of high potential opportunities for market players.