H1 2023: In the first three months of 2023, the MAK market in the USA experienced a bearish trend characterized by weak demand and high supply with the prices declined during this period. The lack of trading activity was a consequence of abundant supply. The market fundamentals were weak, resulting in the absence of firm bids or offers till March. The downstream solvent market witnessed a decline in demand for MAK, attributed to slow market offtakes and limited trading activities. The U.S. market was marked by uncertainty, which adversely affected trading dynamics. April onwards, the MAK market in North America experienced a bullish pricing trend, driven by heightened product demand and accelerated consumption by downstream sectors. North American MAK prices remained elevated due to the increased demand and limited product inventories. The expanding market structure and heightened purchasing activities indicated a bullish outlook for the MAK market. In terms of inventories, there was a significant decrease due to the robust demand for fresh stocks. The increasing demand for paint and coatings, coupled with insufficient stocks to meet consumer needs, led to a rise in MAK demand. Buyers in the US market purchased larger volumes at elevated prices in the US in June.
The global Methyl N-Amyl Ketone (MAK) market stood at approximately 240 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.45% during the forecast period until 2032. Methyl n-Amyl Ketone (MAK) exhibits notable characteristics such as high solvent activity, slow evaporation rate, low density, low surface tension, and a high boiling point. These attributes position MAK as an excellent solvent for cellulosic lacquers, acrylic lacquers, and high-solids coatings MAK's lower density compared to esters, aromatic hydrocarbons, and glycol ether solvents with similar evaporation rates is particularly advantageous. The combination of low density and high activity makes MAK a valuable choice in formulating high-solids coatings. Additionally, MAK finds application as a polymerization solvent for high solids acrylic resins, further enhancing its versatility in various industrial processes.
Methyl n-Amyl Ketone (MAK) demonstrates versatility across multiple industries through its varied end-use applications. Widely recognized for its efficacy as a solvent, MAK plays a pivotal role in the formulation of coatings, including cellulosic lacquers, acrylic lacquers, and high-solids coatings. Its distinct attributes, encompassing high solvent activity, gradual evaporation, low density, and elevated boiling point, contribute to the optimization of coating properties. Beyond coatings, MAK finds utility as a polymerization solvent for high solids acrylic resins, facilitating the production of advanced materials in applications such as adhesives and industrial cleaning. Its effectiveness extends to chemical manufacturing, where it serves as a crucial component in the synthesis of diverse compounds. Additionally, MAK is instrumental in the adhesive industry, enhancing bonding properties in adhesive formulations. Its role in specialty chemicals further underscores its significance in tailoring formulations to meet specific industrial requirements. Overall, the multifaceted applications of MAK highlight its adaptability, serving as a valuable ingredient in diverse industrial processes and contributing to advancements in coating technology, chemical synthesis, and specialty chemical production.
The market dynamics of Methyl n-Amyl Ketone (MAK) reflect a combination of factors influencing its growth trajectory. The demand for MAK is intricately tied to its versatile applications across various industries, primarily in the production of coatings, adhesives, and specialty chemicals. One key driver of market growth is the continuous expansion of the coatings industry. MAK's role as a solvent in cellulosic lacquers, acrylic lacquers, and high-solids coatings positions it as a vital component in response to increasing demands for high-performance coatings in construction, automotive, and industrial applications. As these sectors grow, so does the demand for MAK. Furthermore, the emphasis on environmentally friendly and low-VOC (Volatile Organic Compounds) coatings has propelled the adoption of MAK. Its low density and high solvent activity contribute to reducing the overall environmental impact of coatings, aligning with stringent regulatory requirements and industry trends favouring sustainable practices. MAK's involvement as a polymerization solvent for high solids acrylic resins adds another layer to its growth dynamics. The continuous development of advanced materials and the expansion of applications in adhesives and industrial cleaning contribute to sustained demand. The global Methyl N-Amyl Ketone (MAK) market size is anticipated to reach nearly 336 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Methyl N-Amyl Ketone (MAK). The Asia Pacific region is positioned as the predominant consumer of Methyl n-Amyl Ketone (MAK) due to its robust industrialization, particularly in pivotal sectors such as construction, automotive, and manufacturing. The region's flourishing construction industry, driven by urbanization and infrastructure projects, substantiates the escalating demand for MAK in coatings applications. Simultaneously, the burgeoning automotive sector, fueled by increasing disposable incomes, reinforces MAK's significance in automotive coatings. The Asia Pacific's stature as a global manufacturing hub amplifies the integration of MAK into diverse industrial processes. Additionally, the region's strategic pivot towards environmentally sustainable coatings, aligning with low VOC standards, further underscores MAK's market dominance. This trend is facilitated by a conducive regulatory environment and sustained overall economic growth, collectively establishing the Asia Pacific as the primary epicenter for MAK consumption within the business landscape.
Based on the end-user industry, the global Methyl N-Amyl Ketone (MAK) market is divided into Paints & Coatings, Automotive, Agrochemicals, Process Solvents, and Others. However, Paints & Coatings is the major segment and held approximately 32% of the global Methyl N-Amyl Ketone (MAK) market in 2022.
Major players in the Global Methyl N-Amyl Ketone (MAK) market are Eastman Chemicals, Xinhua Chemical, MG Chemicals, KH Neochem, Binhai Taifeng Pharm-Chemical, and Jiangsu Hengxing New Material Technology.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Methyl N-Amyl Ketone (MAK) which covers production, demand and supply of Methyl N-Amyl Ketone (MAK) market in the globe.
• To analyse and forecast the market size of Methyl N-Amyl Ketone (MAK)
• To classify and forecast Global Methyl N-Amyl Ketone (MAK) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methyl N-Amyl Ketone (MAK) market in the globe.
To extract data for Global Methyl N-Amyl Ketone (MAK) market, primary research surveys were conducted with Methyl N-Amyl Ketone (MAK) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Methyl N-Amyl Ketone (MAK) market over the coming years.
ChemAnalyst calculated Methyl N-Amyl Ketone (MAK) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Methyl N-Amyl Ketone (MAK). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Methyl N-Amyl Ketone (MAK) manufacturers and other stakeholders
• Organizations, forums and alliances related to Methyl N-Amyl Ketone (MAK) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Methyl N-Amyl Ketone (MAK) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Methyl N-Amyl Ketone (MAK) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
240 thousand tonnes
Market size Volume in 2032
336 thousand tonnes
Growth Rate
CAGR of 3.45% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paints & Coatings, Automotive, Agrochemicals, Process Solvents, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Methyl N-Amyl Ketone (MAK) in terms of volume in 2022?
Ans:
The global market size of Methyl N-Amyl Ketone (MAK) had reached approximately 240 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Methyl N-Amyl Ketone (MAK)?
Ans:
Asia Pacific region is the leading consumer of Methyl N-Amyl Ketone (MAK) globally.
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