H1 2023: in H1 2023, Asia Pacific region emerged as the leading consumer of Methyl N-Propyl Ketone (MPK). The price of MPK experienced a decline in the initial two months of 2023 before registering a slight increase in March in India. Low number of cargos were imported in the Indian market, with substantial inventory from other Asian nations. In the Indian market, market players observed stable to poor demand, and there were limited instances of end users placing fresh orders, fostering low pricing sentiment. However, in March, the printing and downstream ink industries exhibited growth, leading to an upward shift in prices of MPK in India. April onwards, the demand landscape for MPK commenced with robust fundamentals and constrained product supply. However, as May and June unfolded, ample product supply influenced the low pricing trajectory. The Asian market witnessed a persistently sluggish MPK demand till June 2023. Further decline in MPK prices were driven by factors such as ample of product inventory and a sluggish downstream market. Downstream solvent demand for MPK dwindled in India. Asian MPK manufacturers displayed a reluctance to increase overseas shipments. Demand plummeted in the Asian market, accompanied by feeble trading activities, prompting producers to lower prices. Subdued market sentiments, coupled with the utilization of existing inventories, contributed to this weak pricing trend. The Asian market maintained a bearish outlook for MPK till June.
The global Methyl N-Propyl Ketone (MPK) market stood at approximately 410 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.5% during the forecast period until 2032. MPK is primarily utilized as a solvent in the coatings and paints industry, specifically in high solids coatings for applications like industrial metal and concrete coatings. Its exceptional solvency power makes it effective in dissolving resins, polymers, and pigments crucial in these coatings, and its low volatility and high flash point enhance its safety profile in high solids coatings.
Methyl n-Propyl Ketone (MPK), also known as 3-pentanone with the molecular formula C6H12O, is a transparent and odoriferous liquid. MPK serves as a potent solvent for various synthetic resins like acrylics, polyesters, epoxies, vinyls, and alkyds. With its superior solvency, low density, and moderate evaporation rate, MPK becomes an appealing letdown solvent for high-solids resins, particularly in formulating coatings with low VOC content. This versatile solution finds application in gravure printing inks and excels in numerous cleaning and surface preparation tasks within the transportation industry. In the adhesives and sealants sector, MPK serves as a solvent during production, facilitating the dissolution and dispersion of resins and other components. Its rapid evaporation rate makes it ideal for adhesives and sealants requiring swift drying, and its low toxicity contributes to its safety in these applications. Additionally, MPK finds utility in the pharmaceutical industry as a solvent in the manufacturing of various drugs and pharmaceuticals. Its application involves dissolving active ingredients due to its low toxicity ensuring a safe and conducive environment for pharmaceutical production. The excellent solvency power of MPK facilitates the easy dissolution of active ingredients, simplifying the formulation of diverse drugs and pharmaceuticals.
The market outlook for Methyl n-Propyl Ketone (MPK) is highly promising, positioning it as a pivotal component across diverse industries such as coatings, adhesives, sealants, and pharmaceuticals. Acknowledged for its exceptional solvent capabilities, MPK is integral in dissolving critical synthetic resins. Its role in the coatings sector, driven by superior solvency power, low density, and a moderate evaporation rate, establishes MPK as a preferred letdown solvent for high-solids resins, particularly in formulations adhering to low Volatile Organic Compounds (VOC) content, aligning seamlessly with stringent environmental standards and sustainability objectives. Furthermore, MPK's influence extends to high-performance printing inks, where its rapid evaporation and low toxicity features position it as a preferred choice for applications demanding swift drying and stringent safety considerations. The global Methyl N-Propyl Ketone (MPK) market is anticipated to reach nearly 580 thousand tonnes by the end of forecast period year 2032.
Geographically, Asia Pacific region is the leading consumer of Methyl N-Propyl Ketone (MPK) owing to the usage of MPK for producing paints & coatings which are further used by the construction and the automotive sectors. The Asia Pacific region is poised to be the foremost consumer of paints and coatings in the forecast period, propelled by dynamic factors. Rapid industrialization and urbanization are fostering increased construction projects, spanning residential, commercial, and industrial structures. The region, encompassing thriving economies like China and India, experiences robust economic growth, resulting in an expanding middle class with heightened disposable incomes. Furthermore, the region's prominence as a manufacturing and export hub, with flourishing industries like electronics, packaging, and appliances, intensifies the reliance on coatings for protection. The confluence of rapid urbanization, economic growth, increasing consumer spending power, and a thriving industrial sector distinctly positions the Asia Pacific region as the primary consumer of MPK in the foreseeable future.
Based on the end-user industry, the global Methyl N-Propyl Ketone (MPK) market is segmented into Paints & Coatings, Adhesives & Sealants, Pharmaceuticals, and Others. Among these, Paints & Coatings is the largest segment and held a market share of roughly 42% in 2022.
Major players in the Global Methyl N-Propyl Ketone (MPK) market are Eastman Chemicals, Tredegar Corporation, Kimberly-Clark, Pantex International, Procter & Gamble, Mondi Group, SCA Group, Golden Phoenix Fiberwebs, Berry Global Group, Kraton Corporation, Unicharm Corp, Schweitzer-Mauduit International, Aplix SA, Neos Italia Srl.
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-Propyl Ketone (MPK) which covers production, demand and supply of Methyl N-Propyl Ketone (MPK) market in the globe.
• To analyse and forecast the market size of Methyl N-Propyl Ketone (MPK)
• To classify and forecast Global Methyl N-Propyl Ketone (MPK) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methyl N-Propyl Ketone (MPK) market in the globe.
To extract data for Global Methyl N-Propyl Ketone (MPK) market, primary research surveys were conducted with Methyl N-Propyl Ketone (MPK) 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-Propyl Ketone (MPK) market over the coming years.
ChemAnalyst calculated Methyl N-Propyl Ketone (MPK) 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-Propyl Ketone (MPK). 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-Propyl Ketone (MPK) manufacturers and other stakeholders
• Organizations, forums and alliances related to Methyl N-Propyl Ketone (MPK) 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-Propyl Ketone (MPK) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Methyl N-Propyl Ketone (MPK) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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410 thousand tonnes
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Market size Volume in 2032
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580 thousand tonnes
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Growth Rate
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CAGR of 3.50% from 2023 to 2032
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2032
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2032
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Report coverage
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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.
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Segments covered
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By End-Use: (Paints & Coatings, Adhesives & Sealants, Pharmaceutical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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