Albany, New York, Oct. 15, 2014 (GLOBE NEWSWIRE) -- Transparency Market Research, in its latest research report states, methyl ethyl ketone market market or MEK market will grow significantly in the coming years. The global methyl ethyl ketone market was valued at USD 2,254.1 million, and is expected to reach USD USD 3,064.5 million, growing at a CAGR of 4.5% between 2013 to 2019. The global demand for methyl ethyl ketone was 1,180.6 kilo tons in 2012. The report "Methyl Ethyl Ketone Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" is available for sale on the company's website.
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Methyl ethyl ketone or MEK is an organic substance that is used primarily as a solvent in many applications such as paints and coatings, adhesives for PVC pipes, printing inks, as an ingredient in rubber based industrial cements, resin thinners, many cleanup applications, lacquers, and as a solvent in the pharmaceutical industry. Methyl ethyl ketone is acts as a catalyst in act of polymerization of polyester resins. The primary driver for global methyl ethyl ketone market is the need for paints and coatings in the automotive industry, furniture industry, and for infrastructural purposes.
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The global methyl ethyl ketone market is divided on the basis on applications and geography. In terms of applications, the paint and coatings application segment holds the largest share of methyl ethyl ketone market. It is also one of the fastest growing segments as the developing nations continue to push the infrastructural demand to new highs. The other segments of methyl ethyl ketone market are also showing positive signs of growth too. Printing inks, textiles and plastics are few some applications of methyl ethyl ketone. The printing ink segment is expected to grow at fast pace as there is a dire need for them in areas of packaging and publishing. Methyl ethyl ketone is also expected to find lucrative markets in applications such as adhesives for PVC pipes, resins thinners, extraction solvent for pharmaceuticals, lacquers in furniture industry, and rubber based cements.
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In terms of geography, Asia Pacific holds the biggest market share for methyl ethyl ketone market. The growth in this region is driven by massive demand for paints and coatings in as construction industry. This region is closely followed by North America, then by Europe, and then comes Rest of the World. As the India and China are turning into hubs for infrastructure and automobile industries Asia Pacific is likely to be the biggest MEK market in the near future. Some of the closely studied key players in the MEK market in this report are ExxonMobil Chemical, Zibo QixiangPetrochemical Industry Group Co. Ltd., Maruzen Petrochemical Co. Ltd., and Arkema S.A.
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