Delaware, May 09, 2016 (GLOBE NEWSWIRE) -- Methyl Ethyl Ketone (MEK) Market size is forecast to reach USD 3.64 Billion by 2022, as per a new research report by Global Market Insights, Inc. The latest MEK market report predicts over 50% of total demand to be from paints and coatings.
Positive demand outlook for paints and coatings, on account of growing construction spending, particularly in Latin America and Asia Pacific is expected to remain a key driving factor for industry development.
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Steady automotive demand, on account of recovery from economic downturn in North America and Asia will also impact industry growth positively. Pharmaceutical and personal care industrial applications include manufacturing antiseptics, anesthetics, lotions, and drugs.
Printing ink applications presently account for over 200 kilo tons of global Methyl Ethyl Ketone (MEK) market size. It is extensively used and preferred solvent in printing industry owing to advantages offered such as excellent drying times, adhesion with substrates such as plastics, metals & glass and allowing formulation of specialized inks.
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MEK market price trend benefited from the global crude slump, however, expected recovery in 2017 along with regulatory pressure may challenge industry profitability. Growing importance for MEK peroxides as catalysts in polymerization of polyester resins and as a cleaning agent, varnish and paint remover will drive growth throughout the forecast timeframe.
Methyl Ethyl Ketone (MEK) market exhibits a high degree of integration by major manufacturers across the value chain, where most of the producers are involved in the raw material production or has their own captive consumption.
Key insights from the report include:
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Global Market Insights has segmented the MEK industry on the basis of service and region:
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.