The global demand for methyl ethyl ketone peroxide (MEKP) is projected to grow at a CAGR of around 4.8% to 5% during the forecast period from 2022 to 2032, totaling a valuation of nearly USD 5 Billion by the end of 2028.
The rising application of methyl ethyl ketone peroxide in polymer and composite manufacturing is driving growth in the global methyl ethyl ketone peroxide market.
| Report Attribute | Details |
|---|---|
| Methyl Ethyl Ketone Peroxide (MEKP) Market Estimated Growth Rate (2022 to 2032) | 4.8% to 5% CAGR |
| Methyl Ethyl Ketone Peroxide (MEKP) Market Projected Size (2028) | USD 5 Billion |
Methyl ethyl ketone peroxide (MEKP) is a type of colorless organic peroxide derived from the reaction of methyl ethyl ketone and hydrogen peroxide. It is mostly used in the vulcanization of polymers.
It possesses a strong oxidizing property and is therefore used as a catalyst in the curing of some polymers like polyester, acrylic, and silicone resins
The rising usage of methyl ethyl ketone peroxide in making plastic monomers, as a curing agent in polyester resin, and as a cross-linking agent and catalyst in making polymers will boost the growth of methyl ethyl ketone peroxide.
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The rising usage of methyl ethyl ketone peroxide as a catalyst in curing applications and the rapid expansion of the polymer and composite industry are some of the major factors spurring growth in the global methyl ethyl ketone peroxide market.
Over the years, methyl ethyl ketone peroxide has become one of the most widely adopted catalyzing or curing agents across various industries and the trend is likely to further escalate during the forecast period.
Similarly, rising demand for lightweight and high-performance materials such as composites and fiber-reinforced plastics (FRP) from various industries including automotive, aerospace, defense, and other manufacturing industries will continue to boost the sales of methyl ethyl ketone peroxide products during the forthcoming years.
Increasing usage of methyl ethyl ketone peroxide (MEKP) in the manufacturing of acrylic acid supported by growing demand for acrylic acid across various industries will further expand the methyl ethyl ketone peroxide (MEKP) market size in the future.
Despite positive growth projections, there are some factors that are challenging the growth of the methyl ethyl ketone peroxide (MEKP) market. Some of these factors include the highly explosive nature of methyl ethyl ketone peroxide, easy availability of alternative curing agents, and increasing safety norms across developed and developing regions.
Methyl ethyl ketone peroxide (MEKP) is highly explosive and flammable in nature. As a result, there are various risks associated with its production and handling. This in turn is limiting its usage to a large extent.
According to Future Market Insights, Asia Pacific dominates the global methyl ethyl ketone peroxide market and is likely to grow at a relatively higher CAGR during the forecast period.
Growth in the Asia Pacific market is driven by the rising adoption of methyl ethyl ketone peroxide in the polymer and composite industry, the rapid expansion of the packaging industry, and the strong presence of leading methyl ethyl ketone peroxide manufacturing companies.
Emerging nations such as China and India are becoming global hubs for methyl ethyl ketone peroxide due to rapid penetration of industrialization and urbanization, economic boom, and thriving electronics and polymer industries. This in turn is creating space for methyl ethyl ketone peroxide market growth in the region.
As per FMI, demand for methyl ethyl ketone peroxide (MEKP) is expected to grow at a steady pace across Europe during the forecast period. This is due to the rapid expansion of industries like automotive, packaging, etc.
For instance, Butanox has become highly popular across European countries for producing glass fiber-reinforced solutions and curing thermoset resins, coatings, and composite materials.
Most of the end-use industries based in European countries like Germany and the United Kingdom are using methyl ethyl ketone peroxide for manufacturing composites and polymers. Hence, a rise in sales of these products will eventually trigger the growth of the methyl ethyl ketone peroxide market.
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Some of the key participants present in the global methyl ethyl ketone peroxide (MEKP) market include Arkema, AkzoNobel Specialty Chemicals (Nouryon), Redox Pty Ltd, Fibre Glass Developments Corp., Jacobson Chemicals Ltd, SHIV SHAKTI CATALYST, Kawaguchi Chemical Co., Ltd., Parchem fine & specialty chemicals, Polymer Products (Phil), Inc., SAMUH LAXMI CHEMICALS (BOM) P. LTD., Freeman Mfg. & Supply Co., Chemx, Link Composites Pvt. Ltd.
The global methyl ethyl ketone peroxide (MEKP) market is highly dynamic in nature due to the large presence of regional and domestic players. In order to capitalize on and meet the end-user demands, leading manufacturers are adopting various strategies such as increasing production capacity, new product launches, the establishment of new facilities, partnerships, and collaborations.
For instance, in March 2019, Nouryon started production of Butanox, one of its methyl ethyl ketone peroxide (MEKP) product lines, at its site in Pasadena, Texas, to meet the growing demand in the region.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.8% - 5% from 2022 to 2032 |
| Projected Growth Rate (2028) | USD 5 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Function, Application, Resin Type, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; Asia Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled |
Arkema; AkzoNobel Specialty Chemicals; Redox Pty Ltd; Fibre Glast Developments Corp.; Jacobson Chemicals Ltd; SHIV SHAKTI CATALYST; Kawaguchi Chemical Co., Ltd.; Parchem fine & specialty chemicals; Polymer Products (Phil), Inc.; SAMUH LAXMI CHEMICALS (BOM) P. LTD.; Freeman Mfg. & Supply Co.; Chemx; Link Composites Pvt. Ltd. |
| Customization | Available Upon Request |
As per FMI, demand in the global methyl ethyl ketone peroxide (MEKP) market is expected to grow at 4.8% to 5% CAGR through 2032.
Asia Pacific is likely to expand at a relatively higher CAGR during the forecast period.
Arkema, AkzoNobel Specialty Chemicals, Redox Pty Ltd, Fibre Glass Developments Corp., Jacobson Chemicals Ltd, SHIV SHAKTI CATALYST, Kawaguchi Chemical Co., Ltd., Parchem fine & specialty chemicals, and Polymer Products (Phil), Inc. are some of the prominent methyl ethyl ketone peroxide (MEKP) manufacturers.
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Methyl Ethyl Ketone Peroxide (MEKP) Market
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