Ascribed to such features and wide ranging application, Global Market Insights, Inc., estimates that the methyl isobutyl ketone market may exceed USD 800 million by 2025.
The methyl isobutyl ketone (MIBK) market is poised to record substantial gains owing to increasing demand for rubber processing chemicals in the construction and automotive industries. Methyl isobutyl ketone enhances the oxidation, mechanical stresses & hardness of rubber, and the resistance of rubber to heat. These properties, along with its use as a solvent for surface coating purposes in these sectors is anticipated to fuel substance production and demand over time.
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MIBK is also used in the manufacturing of germicides, fungicides, pharmaceuticals, as a denaturant in ethanol formulations and for electroplating solutions. It is an effective solvent for synthetic resins credited to its high solvent property and low density, making it useful for the improvement of high-solid coatings. MIBK contains high dilution ratio which makes it the ideal solvent for inks, coatings and adhesives. Methyl isobutyl ketone also encompasses low surface tension and is water miscible, features that make it a decent extraction agent in the dewaxing and de-oiling of petroleum products.
Elaborating on some of the ongoing trends in the methyl isobutyl ketone market:
- Rising use as a surfactant
The methyl isobutyl ketone market in the surfactant application is expected to register more than USD 35 million over the forthcoming years. MIBK is in high demand across the marine, construction and automotive industries. It is used as a surfactant for dispersing, wetting, cleaning, foaming, anti-foaming and emulsifying purposes. Apart from its use as a surfactant, MIBK also finds application as a solvent, rubber processing chemical, extraction solvent, and use in other applications like insecticides, denaturant, fertilizers, etc.
- MEA emerging as a lucrative business ground
The Middle East & Africa methyl isobutyl ketone market is projected to record a CAGR of 3.5% in the upcoming years owing to escalating demand for commercial infrastructure and development activities in countries like UAE, Kuwait and Saudi Arabia. These countries provide profitable opportunities for the MIBK business.
However, due to the coronavirus pandemic, the construction industry of MEA has faced certain turmoil. Nonetheless, credible reports suggest that the construction sector of UAE could rebound to modest growth in 2021, with gradual recovery already witnessed across some countries in MEA, favoring MIBK businesses.
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- Growing demand in automotive sector
The use of MIBK in the automotive industry is likely to grow at a considerable rate, with the market in this sector to surpass USD 145 million by the end of the forecast period. Increasing demand for rubber processing activities will facilitate product traction. Apart from this, the MIBK market could also amass considerable revenue proceeds from the agrochemical, building & construction, marine, paints & coatings, and pharmaceutical industries over 2026.
About Global Market Insights
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.