Global Methyl Ethyl Ketone Market – Increasing Construction Activities to Drive Growth | Technavio

LONDON–(BUSINESS WIRE)–#MEK–The global
methyl ethyl ketone (MEK) market is expected to grow at a CAGR
of close to 5% during the period 2018-2022, according to a new
market research study by Technavio.

The report presents a comprehensive research of the global methyl ethyl
ketone market by application, including paints and coatings, printing
inks, and adhesives. The report also determines the geographic breakdown
of the market in terms of detailed analysis and impact, which includes
key geographies such as APAC, the Americas, and EMEA.

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Market driver: increasing construction activities

The global
MEK market is propelled by an increase in the number of
construction activities across the globe, particularly in APAC. MEK acts
as an excellent solvent, specifically in the paints and coatings sector
and is widely used in the construction sector. Regions such as APAC have
witnessed growing construction activities with countries such as India
and China at the forefront. APAC has the presence of four of the
emerging and growth-leading economies in the world including, India,
China, and the Philippines. Furthermore, countries such as Vietnam and
Malaysia are considered as potential markets for the construction
industry.

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Market trend: use of MEK as a non-halogenated solvent in the process
of polymer recovery

The conventional approaches to the recovery of the polyhydroxyalkanoate
(PHA) polymer are still considered the most practical approaches. But
the recovery of PHA from cellular biomass has led to the use of
environmentally and dangerous solvents such as dichloromethane and
chloroform that serve as potential alternatives. Thus, the global MEK
market has witnessed the increased use of MEK to avoid the use of such
dangerous solvents during the process of PHA recovery. PHA is further
used as an alternative to plastics because of its biodegradability and
physiochemical properties. PHAs also exhibit excellent biocompatibility
and are used to develop materials that find use in medical applications
such as therapeutic composites, sutures, and artificial organ
construction scaffolds.

According to a senior analyst at Technavio for specialty
chemicals research, “The use of MEK as a non-halogenated
solvent has emerged as a promising solution for the recovery of PHA from
bacterial cells, particularly for the recovery of copolymer poly
hydroxybutyrate-co hydroxyvalerate. Though MEK is not known to
solubilize PHAs to the extent as that of chloroform, it is known to
recover a comparable extent of polymer because of its processing
benefits such as low MEK/PHA solution viscosity and lower density
compared to that of cellular components.”

Market challenge: fluctuation in the prices of crude oil coupled with
tightening MEK supply

Crude oil acts as one of the commodities that are highly volatile as far
as its nature of pricing is concerned. As MEK
and other solvents such as toluene are the downstream derivatives of
crude oil, the fluctuation in the prices of crude oil has a direct
impact on both the production of MEK and its market profitability. The
fluctuations in the prices of crude oil pose a challenge for the
manufacturers of crude oil to fix the prices of the manufactured
products.

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