Methyl Isobutyl Ketone Market Surges as Versatility Grows Across Various Segments, says Market.us
Methyl Isobutyl Ketone, also known as MIBK, a colorless, volatile liquid that has a sweet odor, is available in the form of a volatile liquid. MIBK is a popular alternative fuel for cars or motorcycles. It’s used often in perfumes and nail varnishes. Although the chemical was first discovered in 1876, it wasn’t popularized until the late 1990s, when it was discovered that it is a powerful greenhouse gas.
According to the latest report by Market.us,” The global methyl isobutyl ketone (MIBK) market is expected to grow at a CAGR of 6.3% from 2023 to 2033.”
The fast-growing methyl isobutyl ketone market offers exciting growth opportunities for competitors. A recent report by Market.us highlights some key strategies companies can adopt to benefit from the latest industry trends.
The report highlights the key trends that will shape the methyl isobutyl ketone market going forward by giving information on the size of this fast-growing market development, drivers, trends, and which regions and segments are most important.
The growth in the MIBK market can be attributed to the increasing demand for rubber antioxidants, paint solvents, and extraction solvents. In terms of volume, Asia Pacific is expected to lead the MIBK market during the forecast period.
The methyl isobutyl ketone Market is seeing a rapid rise in demand due to its versatility to be used as a solvent for rubber chemicals that are used to make rubber tires. The automotive industry is set to grow with the adoption of lighter and more electric vehicles. Due to the high volume requirement for vehicle tires, this is expected to drive growth in the Methylisobutylketone Market.
Anurag Sharma, the senior research analyst at market.us, said” This market is driven by the enormous growth in paint and coating applications. Methyl isobutyl ketone is the most widely used organic solvent in commercial and industrial chemical industries. It is available in non-food pesticide products and food-use pesticides with predefined limitations. Its use as an extracting agent in dewaxing and deoiling petroleum products is another important market driver.
They also quoted market growth is being slowed by the increasing use of waterborne substitutes and environmental concerns over volatile organic compounds (VOCs). Workers who work with methyl isobutyl ketones have reported problems such as liver and kidney damage, nausea, and headaches, as well as irritation to the eyes, nose, and throat. Inhalation at high levels and direct skin contact can cause central nervous system effects, such as fatigue, sedation, and loss of consciousness in both children and adults.
Rubber antiozonants are commercially manufactured using methyl isobutyl ketone. This organic chemical is applied to rubber articles to protect them from the attack of ozone (O3). The market is growing in a significant way every year due to increased demand for premium tires and the remarkable growth of the automobile industry.
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