#methyl isobutyl ketone (mibk) market research

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Methyl Isobutyl Ketone (MIBK) Prices Trend | Pricing | Database | Index | News | Chart

 Methyl Isobutyl Ketone (MIBK) Prices is a solvent widely used in various industries, including manufacturing, chemical processing, and pharmaceuticals. Its price trends are influenced by multiple factors that include raw material costs, production capacities, supply and demand dynamics, and broader economic conditions. Understanding these variables is crucial for businesses and stakeholders who rely on MIBK.

The prices of MIBK are closely linked to the cost of its primary raw materials, acetone and isobutylene. Fluctuations in the prices of these feedstocks directly impact MIBK production costs. For instance, any disruptions in the supply chain of acetone or significant changes in the global oil market can lead to price variations in MIBK. Additionally, the cost of energy and utilities required in the production process also contributes to the overall pricing structure of MIBK.

Another critical factor influencing MIBK prices is the production capacity and operational efficiencies of manufacturers. Facilities operating at full capacity can produce MIBK more cost-effectively, contributing to stable or lower prices. Conversely, when production is hampered by technical issues, maintenance shutdowns, or regulatory compliance costs, the reduced output can lead to tighter supply and higher prices. Furthermore, investments in new production technologies and infrastructure can improve production efficiency, thereby influencing long-term price trends of MIBK.

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The supply-demand balance in the global market significantly affects MIBK prices. An increase in demand from end-use industries such as paints and coatings, adhesives, pharmaceuticals, and agrochemicals can drive prices upward, especially if supply does not scale accordingly. Seasonal demand variations also play a role; for example, higher demand in the construction and automotive sectors during certain times of the year can lead to price spikes. Conversely, during periods of economic downturn or reduced industrial activity, the demand for MIBK may decrease, resulting in lower prices.

Geopolitical factors and trade policies also have a notable impact on MIBK prices. Tariffs, trade restrictions, and changes in import-export regulations can alter the supply dynamics, affecting prices regionally and globally. For instance, trade tensions between major economies can lead to supply chain disruptions, influencing the availability and cost of MIBK. Additionally, environmental regulations and sustainability practices are becoming increasingly important, potentially affecting the production and cost structures of MIBK manufacturing.

The global economic environment and market sentiment also play a crucial role in determining MIBK prices. Economic growth, industrial production indices, and consumer spending patterns are indicators that impact the overall demand for industrial solvents like MIBK. In periods of robust economic growth, the increased industrial activity can lead to higher demand and subsequently higher prices. Conversely, economic slowdowns or recessions can lead to reduced demand and lower prices.

Technological advancements in MIBK production and alternative solvents also influence its market prices. Innovations that improve the efficiency of MIBK production can lead to cost reductions, potentially lowering market prices. On the other hand, the development of alternative solvents that can replace MIBK in certain applications may reduce its demand, impacting prices. Companies continually invest in research and development to find more cost-effective and sustainable production methods, which can have long-term effects on the price dynamics of MIBK.

Environmental concerns and sustainability trends are increasingly shaping the chemical industry, including the market for MIBK. Regulations aimed at reducing carbon footprints and promoting greener production methods can lead to increased production costs, thereby affecting prices. Companies that proactively adopt sustainable practices may face higher initial costs but can benefit from long-term savings and stability, influencing market prices. Additionally, consumer preference for environmentally friendly products can drive demand for sustainably produced MIBK, impacting its price trends.

Market competition among manufacturers and suppliers also plays a vital role in determining MIBK prices. In a highly competitive market, prices may be driven down as companies strive to capture market share. Conversely, in markets with limited competition, prices can be higher due to the lack of alternative suppliers. Strategic partnerships, mergers, and acquisitions within the industry can also affect the competitive landscape, influencing prices through changes in market dynamics and production capacities.

Finally, market forecasts and future trends provide valuable insights into the expected price movements of MIBK. Analysts consider various factors such as anticipated changes in raw material costs, technological advancements, regulatory developments, and economic indicators to predict future price trends. Keeping abreast of these forecasts helps businesses make informed decisions regarding procurement, inventory management, and strategic planning to mitigate the risks associated with price volatility in the MIBK market. By understanding these diverse and interconnected factors, stakeholders can better navigate the complexities of MIBK pricing and optimize their operations accordingly.

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Covid-19 Analysis Solvents Market: Trends, Size, Share, Demand, Key Player profile and Regional Outlook by 2025

According to the MRFR analysis, the Solvents Market is expected to reach a value of USD 48 Million in 2025, registering a CAGR of 4.0% during the forecast period.

Solvents are the chemicals capable of dissolving other substances without chemical changes. Solvents are widely used in paints and coatings, varnishes, adhesives, sealants, printing inks, cosmetics, and pharmaceutical applications. The increasing demand for paints and coatings, printing inks and cosmetics is likely to augment the growth of the global solvents market. Furthermore, one of the key trends observed in the market is shifting preference towards bio-based solvents driven by stringent regulations and increasing environmental regulations.

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Pricing and Regulatory Analysis

The price of solvents varies according to type and source. The bio-based solvents generally have a higher cost compared with petroleum-based solvents owing to high feedstock cost and complex manufacturing process.  The average price for solvents varies form USD 200 per ton to USD 800 per ton.

The global solvents market faces stringent regulations owing to high VOC emissions and environmental concerns. In Europe, the emission of Volatile Organic Compounds from Solvents is regulated by the European Union - S.I. No. 565 of 2012. Further, activities using more than 10 tons per annum of solvents need an Integrated Pollution Prevention & Control (IPPC) license from the EPA. In the US, the standards for solvent use are regulated by the National Emission Standards for Hazardous Air Pollutants (NESHAP), New Source Performance Standards (NSPS), Control Techniques Guidelines (CTG), and National Volatile Organic Compound Emission Standards – 183(e) VOC Rule.

SEGMENTATION

By Type

Alcohols: The alcohol segment accounted for a dominant share of the global solvents market. The segment is expected to witness significant growth during the forecast period. The growth is attributed to its low toxicity and high demand in the paints & coatings, pharmaceuticals, cosmetics, and personal care industries.

Ketones: Ketones are utilized as solvents in the paint & coatings and adhesives industries. Ketone-based solvents include acetone, methyl ethyl ketone (MEK), methyl isobutyl ketone (MIBK), and diisobutyl ketone (DIBK). Acetone is the most common ketone solvent used in various industrial solvents owing to its low surface tension, density, slower evaporation rate, and high boiling point.

Esters: The increasing adoption of bio-based solvents is expected to favor the demand for esters in the production of lacquers, paints, and coatings.

Glycol Ethers: Glycol ethers are solvents based on ethylene glycol, propylene glycol, and butyl glycol ethers and are most commonly used in paints and cleaners. The glycol ethers segment is expected to witness moderate growth during the forecast period driven by increasing demand in-home and institutional care, and cosmetics industries.

Halogenated Solvents: Halogenated solvents are used in the cleaning, printing inks, textile, paints, and furniture industries. However, the health and environmental risks restrict the use of halogenated solvents.

Aromatic: These solvents are used in the manufacturing of industrial paints, resins, adhesives, and detergents.

Aliphatic: Aliphatic solvents are widely used in paints and coatings, degreasing, oil extraction, and rubber manufacturing.

Others

By Source

Petrochemical-based: The petrochemical-based solvents dominated the global solvents market in 2018. The demand for petrochemical-based solvents is mainly driven by the growth of paints & coatings industry. In 2018, the paints & coatings industry was valued at USD ~142 Billion and is forecasted to grow at a CAGR of 5% between 2019 and 2025, thereby boosting the demand for petrochemical-based solvents in the market.

Bio-Based Solvents: The segment is expected to witness high growth during the forecast period. This growth is attributed to increasing environmental concerns and stringent regulations.

By Application

Paints & Coatings: The segment accounted for the largest share of the global market in 2018 and is expected to witness healthy growth during the forecast period. The growth of the segment is attributed to the increasing demand in the construction and automotive industries.

Pharmaceuticals: The segment is expected to grow at a significant rate during the forecast period. The growth is supported by increasing healthcare spending and increasing investments in the pharmaceutical industry, particularly in Asia-pacific and North America. According to the World Health Organization, in 2016, the global spending on healthcare was USD 7.5 trillion and average per capita health expenditure was USD 1,000.

Polymer: Solvents are widely used in the processing and manufacturing of various polymers. The increasing demand for polymers in the food & beverage, packaging, automotive, and construction industries is expected to drive the growth of the segment during the forecast period.

Agrochemicals: The growing demand for fertilizers and pesticides to increase crop yield is projected to drive the demand for solvents in the agrochemicals segment.

Printing Inks: The growing demand for wide spectrum of printing across the publishing and packaging industry is driving the demand for various solvents in ink manufacturing.

Cleaners: The increasing demand for cleaners in the healthcare and food & beverage industries and domestic applications is expected to propel the demand for solvents during the forecast period.

Cosmetics & Personal Care: With increasing disposable income, changing lifestyles, and rapid urbanization, the cosmetic & personal care industry is witnessing robust growth. This is expected to be the major factor increasing the demand for solvents.

Adhesives & Sealants: The adhesives and sealants industry across the globe was valued at USD 56 million in 2018. The industry is expected to witness significant growth driven by increasing demand in the construction, automotive, hygiene, and packaging industries. This, in turn, is expected to drive the growth of the global solvents market.

Others: The other segment is expected to witness moderate growth during the forecast period.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

COVID-19 Study in Detail:

COVID-19 Impact Analysis on Polyvinyl Chloride (PVC) Market

COVID-19 Impact on 3D Printing Materials Market

COVID-19 Outbreak Impact on Carbon black Market

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Global Methyl Pentanone Market research to Exhibit Significant Opportunity Assessment During the Forecast Period   2019 - 2029

Methyl Pentanone Market: Introduction-

Methyl Pentanone also is known as methyl isobutyl ketone (MIBK) is a colourless liquid with a smell similar to mothballs. Methyl Pentanone easily gets dissolved into ether, alcohols, benzene and water. Methyl Pentanone occurs naturally in various fruits such as oranges, grapes and also in vinegar.  Methyl pentanone is produced by the condensation reaction of acetone with diacetone alcohol and mesityl oxide. Methyl pentanone can also be produced by reacting isopropyl bromide with sodium acetoacetic acid. This diacetone alcohol is produced by treating acetone with Barium hydroxide. Methyl pentanone is widely used in coatings solvents, hard surface cleaners, insecticides, pesticides, laundry starches, paints and varnish products etc.

Methyl Pentanone Market: Dynamics-

The paint & coatings industry is the major end-use sector for the methyl pentanone market, where wide consumption of methyl pentanone in resin-based and cellulose-based coatings is driving the market of methyl pentanone globally. Moreover, with methyl pentanone being also used in the synthetic rubber industry for the production of paraffin wax and other in household products such as glues, varnishes, paint remover and lacquer etc. is further propelling the demand of methyl pentanone particularly from the rubber industry. Furthermore, increasing demand for separating agent from metallurgy industry is also augmenting the demand for methyl pentanone as it is used for various purposes such as separating agent for metal from solution and plutonium from uranium in the mining industry.

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Crop protection from the insects and weeds is another factor in propelling the demand of methyl pentanone, as methyl pentanone is used in the formulation of effective pesticides. Methyl pentanone also provides coating and finishing to textile and leather products which is additionally leading to an upsurge in demand of methyl pentanone from textile and leather industry. Growing demand for fancy food items such as jelly’s, juices, pastries etc.  Also fueling the demand for methyl pentanone to provide artificial flavouring and holding the food items for a long time, however, as per government norms the concentration of methyl pentanone in food items should not be more than 4%. Increasing demand for cosmetic products among consumer is also moving ahead of the market of methyl pentanone, methyl pentanone is used as a solvent in cosmetic products and as an excipient in drugs. In addition to Methyl Pentanone is widely used for antibacterial treatment for several applications. Thus, the Methyl Pentanone market is one of the significant competitive and dynamic markets globally. Which continues to grow due to its increasing demand from end-use industry  

However, exposure of gas or vapours at the workplace during the production of methyl pentanone is hazardous for human health due to which government implemented strict regulation on the production of methyl pentanone which may hinder the market growth of methyl pentanone  

Methyl Pentanone Market: Segments-

The global Methyl Pentanone market can be segmented based on purity grade and its applications

Based on purity grade, the global Methyl Pentanone market can be segmented as follows:

≥5%

≤5%

Based on application, the global Methyl Pentanone market can be segmented as follows:

Cosmetics

Food

Paints & Coatings

Rubber

Pharmaceuticals

Others

Methyl Pentanone Market: Regional Overview –

East Asia is anticipated to be the most lucrative market for methyl pentanone due to growing coating and personal care industry industries in an emerging country such as China, India. Whereas, in North America and Latin America is expected to show moderate growth in the methyl pentanone market due to the presence of established end-use industry. Moreover, Europe is witness to represent the significant growth in the market of methyl pentanone due to increasing coating and rubber industry. Increasing cosmetic and rubber industry in the Middle East & Africa region results in the healthy growth for the market of Methyl Pentanone

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Methyl Pentanone Market: Key Market Participants

Some of the key market participants in the market of Methyl Pentanone are as follows:-

Guangdong Guanghua Sci-Tech Co., Ltd (JHD)

MP Biomedicals

Hydro-Klean

Santa Cruz Biotechnology

Xiamen Hisunny

Beijing YunBang Biosciences

KH NeoChem

Santa Cruz Biotechnology

FEMA

Changzhou Hengyu

Tokyo Chemical Industry Co., Ltd.

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Global Methyl Isobutyl Ketone (MIBK) Market Research Report 2011-2023

Global Methyl Isobutyl Ketone (MIBK) Market Research Report 2011-2023

Get Market Research publishes the following report: Global Methyl Isobutyl Ketone (MIBK) Market Research Report 2011-2023

Summary

Date Published: 2018-03-05 00:00:00

Pages: 104

Category: Chemicals and Materials

The global Methyl Isobutyl Ketone (MIBK) market will reach xxx Million USD in 2017 with CAGR xx% 2018-2023. The objective of report is to define, segment, and project the market on the…

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Global Methyl Isobutyl Ketone Market Supply-Demand, Industry Research and End User Analysis, Outlook 2017 -2025

Global Methyl Isobutyl Ketone Market Supply-Demand, Industry Research and End User Analysis, Outlook 2017 -2025

In this report, the global Methyl Isobutyl Ketone MIBK Market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

Geographically, this report split global into several key Regions, with sales K MT, revenue Million USD, market share and growth rate of Methyl Isobutyl Ketone MIBK for these regions, from…

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Global Acetone Market Study 2015 - 2030

Analysis of the ACETONE MARKET

A comprehensive market study on the ACETONE MARKET Market provides an overview of the demand-supply and consumption patterns of Acetone Market across six different regions. This market study describes the Acetone Market Market, with focus on major countries and their subsequent demand for different segments. This report on the global Acetone Market market offers a complete overview of various factors impacting positively or negatively on the overall growth of the Keyword market.

Distinct market estimations and forecasts are presented in this comprehensive Acetone Market market study. Various secondary sources such as encyclopedia, directories, technical handbooks, company annual reports, industry association publications, magazine articles, world economic outlook, and databases have been referred to identify and collect information useful for this extensive commercial study of Acetone Market. Moreover, both micro-economic and macro-economic factors have been considered to arrive at growth rate and size estimation in the short and long-term forecast. Prismane Consulting supplements this with primary research. The primary sources are experts from related industries and suppliers. For market forecast, and production / plant operating rates, we assume numerous reasons that drive production including new production capacity is brought on-stream, Planned, and unplanned outages of existing capacities and Subdued demand from end-use applications.

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The current COVID-19 pandemic is causing high and rising human costs worldwide. Isolation, nationwide lockdowns, and widespread closures to stop the spread of the virus have severely impacted the economy. As a result, the global economy declined by an around of -3.5% in 2020, much worse and below the 2008-2009 subprime mortgage crisis. The global economy has grown between 5% and 6% in 2021 and 2022 due to the normalization brought in the regional economic activities on back of the fading COVID-19 pandemic and stability in the crude oil prices. The economic activities have been aided by the new policies surrounding financial, agricultural, industrial, and manufacturing sector. The report on Acetone Market Market studies and outlines the impact of COVID-19 and presents the forecasts for the short, mid and long-term. The report also covers Macro-economic factors like GDP, Population and World Economic integration, Economic & Energy Outlook, Industry & Policy Developments, End-use Industry / Applications Market, Reasoning & Analysis, Insightful Commentary, Market Review, Comparative Analysis, Latest Trends and market developments, Key players, Strategic Issues and Recommendations, Business Opportunity Assessment and much more.

Global Acetone Demand-Supply Analysis, By Application, (Volume, Value) (2015–2030)

Strategic Issues

Demand-Supply Analysis and Forecast (2015 – 2030)

         -  Capacity

         -  Capacity Utilization (%)

         -  Production

         -  Imports

         -  Exports

         -  Net Exports

         -  Demand

         -  Demand Growth Rate (%)

         -  Driving Force Analysis

Global Acetone Market, By Application

         -  Bisphenol-A (BPA)

         -  Methyl Methacrylates (MMA)

         -  Methyl isobutyl ketone (MIBK)

         -  Solvent

         -  Other Chemical uses

         -  Others

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Propanol Market is projected to reach to US$2.68 bn by 2025

Propanol is a petrochemical and has wide applications in manufacture of personal care products, pharmaceuticals, cosmetics, deicers, adhesives, paints, resins, and ink. The petrochemical is also used in manufacture of various chemicals such as isopropyl acetates, isopropyl esters, methyl isobutyl ketone (MIBK), glycerol, asisopropyl amines, isopropyl acetates, and acetone. Use of propanol as intermediate chemical to manufacture other chemical has been driving its popularity in chemical industry too, among all other industries.  As per market analysts of chemical fraternity, “large scale application of propanol is entailing the growth of global propanol market in the coming years”.

As per the report published by Transparency Market Research, the propanol market is anticipated to expand at a CAGR of 2.3% in the forecast period 2017-2025. The valuation of propanol market size is projected to reach to US$2.68 bn by 2025.

Use of propanol as solvent is boosting the global propanol market. The solvent segment is projected to clock at a CAGR of 2.3% during the course of forecast period due to rising demand of propanol in coating and paint industry.

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On the other hand, reduction in the demand of propanol in printing ink sector may give negative impact to the growth of global propanol market in the course of forecast period.

Propanol as Solvent is Fuelling its Demand in Painting and Coating Industry

Owing to the surge in the number of personal care, pharmaceuticals, and cosmetics industry in North America, the regions is anticipated to contribute majorly in the expansion of propanol market in the course of forecast period followed by Europe. Europe is witnessing substantial rise in the number of chemical industry. This, in turn, is driving the propanol market in the region.

In the recent years, Asia Pacific was contributing 40% of the entire propanol market share standalone. Propanol is used as a solvent in the coatings and paints. This is a key factor fuelling the demand for propanol in the market. Asia Pacific region is witnessing surge in the number of chemical, coatings, and paint industry. This, in turn, is boosting propanol market as well. China, being the major consumer of propanol, is anticipated to be a major contributor in propanol market in the coming years.

Merging and Acquisition is Tactics to Maintain Prominence in Global Propanol Market

Looking at the present trend, the market analysts at Transparency Market Research analyses that “propanol market will be witnessing intense competition in coming years, as a result of large number of small and medium companies coming in the market”. Also, the prominent players of propanol market are coming up with new market strategies to sustain its dominance in the global propanol market.

The players are putting an effort to gain significant position in the regional market, so that they can easily penetrate in the global propanol market. Key players are inclining towards merging and acquisition to strengthen their presence in the market.

Some of the key players in the global propanol market are- LyondellBasell Industries N.V., BASF SE, Eastman Chemical Company, ExxonMobil Corporation, Oxea GmbH, Mitsui Chemicals, Tokuyama Corporation, and Dow Chemical Company.

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Refrigeration Oil Market Size: Research Report, Demand, Segments, Key Player profile and Regional Outlook by 2025

According to the MRFR analysis, the Solvents Market is expected to reach a value of USD 48 Million in 2025, registering a CAGR of 4.0% during the forecast period.

Solvents are the chemicals capable of dissolving other substances without chemical changes. Solvents are widely used in paints and coatings, varnishes, adhesives, sealants, printing inks, cosmetics, and pharmaceutical applications. The increasing demand for paints and coatings, printing inks and cosmetics is likely to augment the growth of the global solvents market. Furthermore, one of the key trends observed in the market is shifting preference towards bio-based solvents driven by stringent regulations and increasing environmental regulations.

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Pricing and Regulatory Analysis

The price of solvents varies according to type and source. The bio-based solvents generally have a higher cost compared with petroleum-based solvents owing to high feedstock cost and complex manufacturing process.  The average price for solvents varies form USD 200 per ton to USD 800 per ton.

The global solvents market faces stringent regulations owing to high VOC emissions and environmental concerns. In Europe, the emission of Volatile Organic Compounds from Solvents is regulated by the European Union - S.I. No. 565 of 2012. Further, activities using more than 10 tons per annum of solvents need an Integrated Pollution Prevention & Control (IPPC) license from the EPA. In the US, the standards for solvent use are regulated by the National Emission Standards for Hazardous Air Pollutants (NESHAP), New Source Performance Standards (NSPS), Control Techniques Guidelines (CTG), and National Volatile Organic Compound Emission Standards – 183(e) VOC Rule.

SEGMENTATION

By Type

Alcohols: The alcohol segment accounted for a dominant share of the global solvents market. The segment is expected to witness significant growth during the forecast period. The growth is attributed to its low toxicity and high demand in the paints & coatings, pharmaceuticals, cosmetics, and personal care industries.

Ketones: Ketones are utilized as solvents in the paint & coatings and adhesives industries. Ketone-based solvents include acetone, methyl ethyl ketone (MEK), methyl isobutyl ketone (MIBK), and diisobutyl ketone (DIBK). Acetone is the most common ketone solvent used in various industrial solvents owing to its low surface tension, density, slower evaporation rate, and high boiling point.

Esters: The increasing adoption of bio-based solvents is expected to favor the demand for esters in the production of lacquers, paints, and coatings.

Glycol Ethers: Glycol ethers are solvents based on ethylene glycol, propylene glycol, and butyl glycol ethers and are most commonly used in paints and cleaners. The glycol ethers segment is expected to witness moderate growth during the forecast period driven by increasing demand in-home and institutional care, and cosmetics industries.

Halogenated Solvents: Halogenated solvents are used in the cleaning, printing inks, textile, paints, and furniture industries. However, the health and environmental risks restrict the use of halogenated solvents.

Aromatic: These solvents are used in the manufacturing of industrial paints, resins, adhesives, and detergents.

Aliphatic: Aliphatic solvents are widely used in paints and coatings, degreasing, oil extraction, and rubber manufacturing.

Others

By Source

Petrochemical-based: The petrochemical-based solvents dominated the global solvents market in 2018. The demand for petrochemical-based solvents is mainly driven by the growth of paints & coatings industry. In 2018, the paints & coatings industry was valued at USD ~142 Billion and is forecasted to grow at a CAGR of 5% between 2019 and 2025, thereby boosting the demand for petrochemical-based solvents in the market.

Bio-Based Solvents: The segment is expected to witness high growth during the forecast period. This growth is attributed to increasing environmental concerns and stringent regulations.

By Application

Paints & Coatings: The segment accounted for the largest share of the global market in 2018 and is expected to witness healthy growth during the forecast period. The growth of the segment is attributed to the increasing demand in the construction and automotive industries.

Pharmaceuticals: The segment is expected to grow at a significant rate during the forecast period. The growth is supported by increasing healthcare spending and increasing investments in the pharmaceutical industry, particularly in Asia-pacific and North America. According to the World Health Organization, in 2016, the global spending on healthcare was USD 7.5 trillion and average per capita health expenditure was USD 1,000.

Polymer: Solvents are widely used in the processing and manufacturing of various polymers. The increasing demand for polymers in the food & beverage, packaging, automotive, and construction industries is expected to drive the growth of the segment during the forecast period.

Agrochemicals: The growing demand for fertilizers and pesticides to increase crop yield is projected to drive the demand for solvents in the agrochemicals segment.

Printing Inks: The growing demand for wide spectrum of printing across the publishing and packaging industry is driving the demand for various solvents in ink manufacturing.

Cleaners: The increasing demand for cleaners in the healthcare and food & beverage industries and domestic applications is expected to propel the demand for solvents during the forecast period.

Cosmetics & Personal Care: With increasing disposable income, changing lifestyles, and rapid urbanization, the cosmetic & personal care industry is witnessing robust growth. This is expected to be the major factor increasing the demand for solvents.

Adhesives & Sealants: The adhesives and sealants industry across the globe was valued at USD 56 million in 2018. The industry is expected to witness significant growth driven by increasing demand in the construction, automotive, hygiene, and packaging industries. This, in turn, is expected to drive the growth of the global solvents market.

Others: The other segment is expected to witness moderate growth during the forecast period.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

COVID-19 Study in Detail:

Impact of COVID-19 on Iso-Propyl Alcohol Market

Impact of COVID-19 on Steel Extruded Products Market

Coronavirus Outbreak and Plastic Films Market

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Propanol Market to Grow Owing to Innovative Technologies Adopted By 2025

Propanol is a colorless alcohol typically available in two types of isomers: iso-propanol and n-propanol. Isopropanol was one of the first petrochemicals discovered in the ’1960s. Isopropanol, also known as isopropyl alcohol (IPA) or rubbing alcohol, is a colorless, flammable alcohol with a distinct odor. It is used in various applications such as cosmetics, personal care products, deicers, resins, paints, pharmaceuticals, inks, and adhesives, as also as a chemical intermediate to manufacture various chemicals such as methyl isobutyl ketone (MIBK), isopropyl esters, isopropyl amines, acetone, glycerol, and isopropyl acetates. N-propanol is a colorless oxo-alcohol widely used as a solvent in flexographic and other printing ink applications.

Growth in the chemicals, agriculture and cosmetics & personal care industry is likely to drive the global propanol market in the next few years. According to Transparency Market Research, the global propanol market, valued at US$2.19 bn in 2016, will exhibit a CAGR of 2.3% from 2017 to 2025 and rise to US$2.68 bn by 2025.

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Use of Propanol as Solvent to Help Global Market Generate Maximum Revenue

In terms of applications, solvent was the dominant segment of the global propanol market, accounting for more than 49% of the global market in 2016. Expected to exhibit a CAGR of 2.3%, the segment of solvents is anticipated to remain the leading application segment for the global propanol market during the forecast period due to steady rise in demand from the global paints and coatings industry. However, it is expected to witness a small reduction in its share in the global market by the end of the forecast period owing to the sluggish growth of key end-use sectors such as printing ink.

Propanol is used as an intermediate in the manufacture of various industrial chemicals. It reacts with halogen to produce propyl halide, with ammonia to produce propylamines, and with acetic acid to produce propyl acetate, hence chemical intermediate is another key application segment of propanol market. This segment accounted for the second-leading share in the global propanol market in 2016 and is expected to retain its spot over the forecast period as well. The steady increase in demand from well-established chemical industries in developed and certain emerging economies will help the segment expand at a healthy pace over the forecast period.

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Asia Pacific to Continue to Dominate Global Propanol Market

The propanol market in North America is expected to expand at a significant rate whereas, the propanol market in Europe is projected to expand at a moderate pace during the forecast period. Propanol market in Europe is predicted to be driven by the uplifting chemical industry in the region. Whereas, the propanol market in North America is predicted to be driven by the cosmetics, personal care, and pharmaceuticals industries in the region.

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Methyl Isobutyl Ketone Market to Undertake Strapping Growth During 2024

Methyl isobutyl ketone (MIBK) is one of the excellent solvents for resins used in various surface coatings. It is also widely used in rubber chemicals for the production of tires, followed by surfactants, and insecticides. MIBK is used as a solvent in industries that produce rubber products, paints, machineries, and chemicals. Rising demand for solvents and rubber processing chemicals, chiefly owing to the flourishing growth of the global automotive industry, is expected to fuel to the overall global demand for MIBK in the next few years.

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However, concerns regarding the harsh impact of the material on the environment and human health are leading to an increased aversion for synthetic, petroleum-based MIBK across a vast number of industries. Analysts estimate that synthetic MIBK will gradually be replaced by bio-based MIBK across major applications in the next few years. This factor can emerge as one of the most lucrative growth opportunities for companies in the market in the near future, allowing significant traction to businesses and providing sustainable growth opportunities.

Transparency Market Research estimates that the global methyl isobutyl ketone market, which valued at US$827.4 mn in 2015, will exhibit a CAGR of 7.5% between 2016 and 2024 and reach US$1,572.3 mn by 2024.

MIBK’s Use as Solvent to Remain Market’s Most Promising Application Segment

MIBK is known to be one of the best solvents for resins used in the production of surface coatings. Moreover, MIBK is also used as a solvent for more than 40 applications across a number of industries. As a result, the use of MIBK as a solvent is one of the most lucrative application segments of the global MIBK market, accounting for over 54% of the overall market in 2015. The segment is expected to retain its dominant stance over the forecast period as well, exhibiting a promising 7.7% CAGR in terms of value over the period between 2016 and 2024.

However, the segment is expected to lose prominence to the rubber chemicals segment in terms of rate of growth over the said period, chiefly owing to the rising demand for rubber across a number of industries and applications. The segment of rubber chemicals is expected to expand at an 8.4% CAGR in terms of value from 2016 through 2024. Owing to this, the share of the segment in the global market is expected to rise from nearly 15% in 2015 to 16.3% by 2024.

Asia Pacific to Continue to Command Prominent Position in Global Market

In terms of geography, Asia Pacific presently leads the global MIBK market. It is followed by North America and Europe. Increasing consumption of MIBK in automotive and crop-protection industries in China, India, and ASEAN countries is expected to drive the demand for MIBK-based applications in Asia Pacific during the forecast period. China is the leading consumer of MIBK in Asia Pacific, especially in the antiozonants application. Production and demand of MIBK is expected to continue to rise in Asia Pacific during forecast period as well, granting the region a commanding position in the global market in the near future. In terms of revenue contribution to the global market, Asia Pacific accounted for a dominant share of more than 42% in 2015.

North America chiefly consists of developed countries and mature markets. Therefore, the MIBK market in the region is expected to expand at a moderate pace during the forecast period. Countries in Middle East and Africa are estimated to provide lucrative opportunities for the MIBK market owing to the rise in commercial infrastructure development activities.

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The global MIBK market features a largely consolidated competitive landscape, with the top five companies cumulatively accounting for a lion’s share in the market’s overall valuation. Some of the key companies in the market are The Dow Chemical Company, Royal Dutch Shell Plc, Kumho P&B, Lee Chang Yung Chemical, Celanese Corporation, Eastman Chemical Company, Mitsubishi Chemical Holdings Corporation, and Mitsui Chemicals, Inc.

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Europe Acetone Market Study 2014 - 2030

Analysis of the ACETONE MARKET

A comprehensive market study on the ACETONE MARKET Market provides an overview of the demand-supply and consumption patterns of Acetone Market across six different regions. This market study describes the Acetone Market Market, with focus on major countries and their subsequent demand for different segments. This report on the global Acetone Market market offers a complete overview of various factors impacting positively or negatively on the overall growth of the Keyword market.

Distinct market estimations and forecasts are presented in this comprehensive Acetone Market market study. Various secondary sources such as encyclopedia, directories, technical handbooks, company annual reports, industry association publications, magazine articles, world economic outlook, and databases have been referred to identify and collect information useful for this extensive commercial study of Acetone Market. Moreover, both micro-economic and macro-economic factors have been considered to arrive at growth rate and size estimation in the short and long-term forecast. Prismane Consulting supplements this with primary research. The primary sources are experts from related industries and suppliers. For market forecast, and production / plant operating rates, we assume numerous reasons that drive production including new production capacity is brought on-stream, Planned, and unplanned outages of existing capacities and Subdued demand from end-use applications.

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The current COVID-19 pandemic is causing high and rising human costs worldwide. Isolation, nationwide lockdowns, and widespread closures to stop the spread of the virus have severely impacted the economy. As a result, the global economy declined by an around of -3.5% in 2020, much worse and below the 2008-2009 subprime mortgage crisis. The global economy has grown between 5% and 6% in 2021 and 2022 due to the normalization brought in the regional economic activities on back of the fading COVID-19 pandemic and stability in the crude oil prices. The economic activities have been aided by the new policies surrounding financial, agricultural, industrial, and manufacturing sector. The report on Acetone Market Market studies and outlines the impact of COVID-19 and presents the forecasts for the short, mid and long-term. The report also covers Macro-economic factors like GDP, Population and World Economic integration, Economic & Energy Outlook, Industry & Policy Developments, End-use Industry / Applications Market, Reasoning & Analysis, Insightful Commentary, Market Review, Comparative Analysis, Latest Trends and market developments, Key players, Strategic Issues and Recommendations, Business Opportunity Assessment and much more.

Europe Acetone Demand Supply Analysis By Applications, (Volume, Value) (2014–2030)

     Strategic Issues

     Capacity Analysis – Plants and Projects (2014 – 2030)

Capacity

Production

Producing Companies

Capacity Additions and Investments

Location

Salient Statistics

Technology / Process

     Demand Supply Analysis and Forecast (2014 – 2030)

Capacity

Production

Operating Rate

Import

Export

Net Trade

Demand

Demand Growth Rate (%)

Driving Force Analysis

Europe Acetone Market, By Application

Bisphenol-A (BPA)

Methyl Methacrylates (MMA)

Methyl isobutyl ketone (MIBK)

Solvents

Other chemical uses

Others

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About Prismane Consulting

Prismane Consulting is a unique global boutique consulting firm with an Indian origin. We present ourselves to the world outside providing management, economic and technical expertise to improve customer engagement, boost operational efficiency, reduce costs, and achieve superior business results. Prismane Consulting serves leading businesses in the field of Chemicals, Petrochemicals, Polymers, Materials, Environment and Energy. We have been advising clients on their key strategic issues solving their toughest and most critical business problems. To know more write to us on info@prismaneconsulting.com

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Methyl Isobutyl Ketone (MIBK) Market by Companies, Region, Application and end-use Industry up to 2025

04th December 2018: Methyl Isobutyl Ketone (MIBK) is an organic compound. This compound has particular features such as it is clear, colorless, has pleasant odor, is very flammable with high vapor pressure, and can be widely utilized as a solvent. Methyl Isobutyl Ketone is utilized as a solvent for manufacturing pharmaceuticals, paints, rubber, chemicals, etc. As it has a pleasant odour it is also used in fragrance and flavor industry. Moreover, it is utilized as a dry cleaning agent.

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Some of the important attributing features for its utility are low density, excellent solvent activity, high dilution ratio, low surface tension, low water miscibility, medium evaporation rate, readily biodegradable, etc. The factors that propel the growth of the global Methyl Isobutyl Ketone Market Size include its wide ranging application as an outstanding solvent for general industrial coating, process solvents like fungicides and germicide synthesis, automotive coating, automotive refinish coating, etc.

On the other hand, there are also factors that hamper the growth of the global Methyl Isobutyl Ketone Market Size such as environment-related issues and adverse health effects. For instance, Methyl Isobutyl Ketone may cause moderate eye irritation, low toxicity if consumed. Excessive exposure may give rise to irritation to upper respiratory tract, nausea, dizziness, etc. In case of environment, Methyl Isobutyl Ketone may form explosive peroxides with exposure to air.

The global Methyl Isobutyl Ketone Market Size is classified on the basis of application, end-user, and geography. On the basis of application, the global Methyl Isobutyl Ketone Market Size spans Solvent, Rubber Chemicals, Surfactants, Insecticides and others. The Solvent segment comprises Automotive & Marine Coatings, Construction Coatings, and Wood Coatings.

Amongst the applications, the “Solvent” application segment held a major share of the global Methyl Isobutyl Ketone Market Size in 2015. The factors that attribute to the major share of the solvent application include its wide utility in automobile, building & construction, etc. Additionally, its high demand and usage for surface coatings and paints has significantly propelled the growth of the market. On the basis of end-user, the global Methyl Isobutyl Ketone Market Size comprises Marine, Building & Construction, Automotive, Crop Protection, and others.

Some of the prominent players that fuel the growth of the global Methyl Isobutyl Ketone Market Size include The Dow Chemical Company, Royal Dutch Shell Plc, Kumho P&B, Lee Chang Yung Chemical, Celanese Corporation, Eastman Chemical Company, Mitsubishi Chemical Holdings Corporation, and Mitsui Chemicals, Inc.  

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