India Methyl Isobutyl Ketone (MIBK) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2032

India Methyl Isobutyl Ketone (MIBK) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2032

The India Methyl Isobutyl Ketone (MIBK) market has reached approximately 35 thousand tonnes in FY2022 and is anticipated to grow at a CAGR of 3.05% by FY2032.

Methyl Isobutyl Ketone is considered a good solvent for dissolving resins that are used in various industries such as paints, lacquers, inks, and surface coatings. The flourishing automotive sector in the nation has hyped the demand for solvents for various use such as in rubber processing and in paints. The increasing population has led to the growth of the construction of buildings, thus imposing a surging demand for paints and coatings. The demand for methyl isobutyl ketone is predicted to expand in India due to its growing production and sales of automotive products. MIBK also used in various extraction processes, therefore, its usage as a solvent also contributes to the market growth. Additionally, the product is also used in the production of insecticides and pesticides, which are used in the commercial agriculture sector on a massive scale. The government is spending heavily on improving the country's agricultural production output by focusing on insecticides and fertilizers, which in turn, will positively influence the Methyl Isobutyl Ketone market in the forecast period. Furthermore, the applications of MIBK in cosmetics as alcohol. The Methyl Isobutyl Ketone (MIBK) market volume is estimated to reach approximately 50 thousand tonnes by FY2032.

Based on region, the India Methyl Isobutyl Ketone (MIBK) Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2022, West India has been dominating the market and consumed approximately 70% of the market share in FY2022. The primary cause of this is the rising demand for MIBK in end-user sectors such as paint and varnishes, medicines, rubber compounds, tire manufacturing, and others.

Based on end-use, the India Methyl Isobutyl Ketone (MIBK) market is segregated into Paints & Coatings, Pharmaceuticals, Rubber Chemical, and Others. Among these, Paints & Coatings is the dominating segment of Methyl Isobutyl Ketone (MIBK). This segment held roughly 50% of the Methyl Isobutyl Ketone (MIBK) market in FY2022. Methyl Isobutyl Ketone is a product, which is used as a solvent in many processes such as for solids coatings, automotive coatings, industrial maintenance coatings with marine coatings, textile coatings, nitrocellulose lacquers, acrylic and vinyl-acrylic resins for adhesives, de-waxing mineral oil.

Since India does not have domestic manufacturers of Methyl Isobutyl Ketone. Global players in the MIBK market include LCY Chemical Corp, Mitsui Chemicals, Shell Chemical, KH Neochem Co.,Ltd, Kumho P&B Chemicals Inc, Arkema S.A, Monument Chemical, Celanese Corporation, Sasol Chemicals (USA) LLC, Rhodia Brasil S.A, and others.

Years considered for this report:

Historical Period: FY2015-FY2022

Base Year: FY2022

Estimated Year: FY2023

Forecast Period: FY2024- FY2032

Objective of the Study:

• To assess the demand-supply scenario of Methyl Isobutyl Ketone (MIBK) which covers production, demand and supply of Methyl Isobutyl Ketone (MIBK) market in India.
• To analyse and forecast the market size of Methyl Isobutyl Ketone (MIBK) in India.
• To classify and forecast India Methyl Isobutyl Ketone (MIBK) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Methyl Isobutyl Ketone (MIBK) market in India.

To extract data for India Methyl Isobutyl Ketone (MIBK) market, primary research surveys were conducted with Methyl Isobutyl Ketone (MIBK) 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 India Methyl Isobutyl Ketone (MIBK) market over the coming years.

ChemAnalyst calculated Methyl Isobutyl Ketone (MIBK) demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Methyl Isobutyl Ketone (MIBK) 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 Isobutyl Ketone (MIBK) manufacturers and other stakeholders
• Organizations, forums and alliances related to Methyl Isobutyl Ketone (MIBK) 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 Isobutyl Ketone (MIBK) 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, India Methyl Isobutyl Ketone (MIBK) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by End-use: Paints & Coatings, Pharmaceuticals, Rubber Chemical, and Others
• Market, by Sales Channel: Direct Sale and Indirect Sale
• Market, by Region: Northern India, Southern India, Eastern India, Western India

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