India - 4-Methylpentan-2-One (Methyl Isobutyl Ketone) - Market Analysis, Forecast, Size, Trends And Insights
Methyl Isobutyl Ketone Price in India Increases Slightly to $1,351 per Ton
India Methyl Isobutyl Ketone Import Price in November 2022
In November 2022, the methyl isobutyl ketone price amounted to $1,351 per ton (CIF, India), rising by 3.8% against the previous month. Over the period under review, the import price, however, showed a pronounced decrease. The import price peaked at $2,110 per ton in January 2022; however, from February 2022 to November 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2022, the country with the highest price was South Korea ($1,358 per ton), while the price for South Africa stood at $1,255 per ton.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by South Africa (-2.1%), while the prices for the other major suppliers experienced a decline.
India Methyl Isobutyl Ketone Imports
After three months of decline, supplies from abroad of 4-methylpentan-2-one (methyl isobutyl ketone) increased by 330% to 5K tons in November 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2022 with an increase of 740% month-to-month. Imports peaked at 5.6K tons in May 2022; however, from June 2022 to November 2022, imports remained at a lower figure.
In value terms, methyl isobutyl ketone imports surged to $6.8M (IndexBox estimates) in November 2022. In general, imports, however, continue to indicate a perceptible decline. The growth pace was the most rapid in July 2022 with an increase of 698% month-to-month. Imports peaked at 11K tons in January 2022; however, from February 2022 to November 2022, imports stood at a somewhat lower figure.
India Methyl Isobutyl Ketone Imports by Country
In November 2022, South Korea (4.2K tons) constituted the largest methyl isobutyl ketone supplier to India, accounting for a 84% share of total imports. Moreover, methyl isobutyl ketone imports from South Korea exceeded the figures recorded by the second-largest supplier, South Africa (800 tons), fivefold.
From January 2022 to November 2022, the average monthly rate of growth in terms of volume from South Korea stood at +3.5%.
In value terms, South Korea ($5.8M) constituted the largest supplier of methyl isobutyl ketone to India, comprising 85% of total imports. The second position in the ranking was taken by South Africa ($1M), with a 15% share of total imports.
From January 2022 to November 2022, the average monthly rate of growth in terms of value from South Korea amounted to -2.3%.
Factors Affecting Methyl Isobutyl Ketone Price Growth
Methyl Isobutyl Ketone (MIBK) is a solvent used in a variety of industries, including paints, pharmaceuticals, and printing inks. It is a colorless liquid with a characteristic odor and is known for its excellent solvent properties.
In recent news, the price of MIBK in India has seen a slight increase, with the current price standing at $1,351 per ton. This rise in price can be attributed to a number of factors, including the supply-demand dynamics of the market, fluctuations in crude oil prices, and changes in government policies.
MIBK is an important chemical used in the manufacture of a variety of products, and any change in its price has a significant impact on the downstream industries. However, the rise in price is not expected to have a major impact on the overall demand for MIBK, as it continues to remain an essential solvent in various processes.
The Indian chemical industry is growing at a rapid pace, and the demand for MIBK is expected to increase in the coming years. The rising price of MIBK may lead to some concerns for the downstream industries, but it is also an opportunity for the industry to explore alternative solvents and improve their efficiency.
In conclusion, the slight rise in price of Methyl Isobutyl Ketone in India is a reflection of the complex dynamics of the chemical industry. While it may lead to some short-term concerns, it is also an opportunity for the industry to adapt and innovate to meet the evolving demands of the market.
This report provides an in-depth analysis of the methyl isobutyl ketone market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
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The Largest Producers on The Market and Their Profiles
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