Global Methyl Isobutyl Ketone (MIBK) Market Outlook 2016-2021
The global methyl isobutyl ketone market will exhibit a 7.5% CAGR over the period between 2016 and 2024. If the prediction holds true, the market, which valued at US$827.4 mn in 2015, will rise to US$1,572.3 mn by 2024.
Albany, New York, January 30, 2017: The latest report focusing on the global market of methyl isobutyl ketone has been added to the vast archive of Market Research Hub’s report offerings. This research report, titled “Global Methyl Isobutyl Ketone (MIBK) Market Outlook 2016-2021” offers extensive market forecasts during 2016-2021 by region/country and subsectors. Key regions highlighted in the report are North America, Asia-Pacific, Africa, Europe and the Middle East. In these sectors, competitive landscape and supply/demand pattern of methyl isobutyl ketone industry has been outlined.
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At first, the report briefly introduces the Methyl Isobutyl Ketone (MIBK) along with its supply chain structure and manufacturing processing in the global market. It is a stable, medium evaporating liquid and compatible with many organic materials which make it an efficient industrial solvent. It's high solvency and excellent stability makes it a preferred solvent choice for coatings, paints, ink, adhesives and for cleaning applications. Another major use for MIBK is as a chemical intermediate in the synthesis of a rubber anti-ozonant additive in tires. It has been studied by the report that, due to high demand for solvent and rubber processing chemicals, the consumption of MIBK in the automotive industry has also increased. Also, in the next few years, demand for MIBK for automobile applications is expected to be the major driver for the global market. Some of the major industries where MIBK is used includes chemical & plastic industry, food & agrochemicals along with the mining industry.
Geographically, China is the leading consumer of MIBK in Asia-Pacific, especially in the anti-ozonants application. MIBK production and demand would continue to increase in Asia-Pacific region during the forecast period in terms of volume. In the next section, the report also covers key market and technological trends active in the global market and further carries out an analysis of the major factors impacting the supply and demand for methyl isobutyl ketone.
In the next section, competitive landscape of the key industry players is also mentioned. This section provides a detailed market share analysis of the key players along with their recent developments and key strategies. Moreover, according to the study, focus on the increased production of bio-based MIBK is predicted to offer lucrative opportunities to the industry participants in terms of product development in the near future.
The major players in the global Methyl Isobutyl Ketone (MIBK) market are as follows:
Also, major opportunities, as well as challenges for the industry players are also highlighted in the report.
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Global Methyl Isobutyl Ketone (MIBK) Market Outlook 2016-2021 Size and trends Published in Chemicals on 2016-12-12 Available for $2800.
Jan 29, 2017