Methyl Isobutyl Ketone Market Overview by Industry Dynamics, Regional Analysis and Forecast 2022 to 2027
Market Scenario Market Research Future (MRFR) proclaims that the global methyl isobutyl ketone market is predicted to garner a stellar CAGR during the forecast period (2016–2023). The surging demand for adhesives is highly encouraging the market growth across the globe. Also termed as mono-isobutyl ketone, methyl isobutyl ketone (MIBK) is a clear, stable, and colorless liquid possessing a pleasant odor. It is naturally found in vinegar, orange and lemon juice, baked potatoes, papaya, ginger, grapes, milk, cheese, mushrooms, plum, and others and is compatible with other organic materials, thus making it a superior industrial solvent. MIBK finds application as an solvent, extracting agent, chemical intermediate, and a denaturant in various end use industries like agrochemicals, pharmaceuticals, automotive, and paints & coatings. Market Potential and Pitfalls The market’s growth is chiefly directed by the surging demand for MIBK solvent in the electronics and automobile industry. The