Methyl Isobutyl Ketone Market Rise to US$1,572.3 mn by 2024 | TMR | Page 3

Methyl Isobutyl Ketone Market
In terms of geography, Asia Pacific held the leading share of more than 42% in the global market in
2015. This is mainly due to the increasing demand for MIBK in crop-protection and automotive
industries in India, China, and ASEAN countries. Amongst all, China accounts for the leading
consumption of MIBK especially for antiozonants application. Asia Pacific is expected to display a rise
in production and demand for MIBK, thereby resulting the region to hold commanding position in the
coming years.
North America MIBK market is expected to rise at a moderate pace as the region mainly consists of
developed countries that are mature for MIBK end-use industries. Countries in the Middle East and
Africa region are expected to contribute substantially to the growth of MIBK market due to
developmental projects for commercial infrastructure.
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The flourishing growth of the automotive industry has indirectly benefitted the MIBK market for solvent
applications. Methyl isobutyl ketone is an excellent solvent for resins that are used in various surface
coatings in the automotive industry. Methyl isobutyl ketone is used as a solvent in industries that
produce paints, chemicals, and rubber products. It is also extensively used in rubber chemicals for
the manufacture of tires, surfactants, and insecticides.
Human Health and Environmental Considerations Restrains Market Growth
However, impact of MIBK on human health even in low concentrations is leading to a declining use of
petroleum-based, synthetic MIBK across a large number of end-use industries. Petroleum-based
MIBK have environmental concerns as well as it can form explosive peroxides on contact with air.
These factors have led to an increasing demand for bio-based MIBK across a large number of
applications