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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