Butanone Market

The article provides a comprehensive analysis of the global market for butanone (methyl ethyl ketone) from 2012 to 2022. It covers consumption trends, production volumes, import and export statistics, and pricing information, highlighting key countries and their growth rates. The market is expected to see an upward consumption trend over the next eight years, with an anticipated increase in both volume and value. The United States, China, and Japan are identified as major players in terms of production and consumption. Pricing has shown fluctuations over the years, with varying growth rates in different countries. Overall, the global market for butanone is projected to continue growing in the immediate future.

Market Forecast

Driven by rising demand for butanone worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 846K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $1.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Butanone (Methyl Ethyl Ketone)

After two years of growth, consumption of butanone (methyl ethyl ketone) decreased by -7.1% to 674K tons in 2022. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak volume of 817K tons. From 2019 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global butanone market value expanded rapidly to $1.1B in 2022, growing by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $1.1B; afterwards, it flattened through to 2022.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (99K tons), South Korea (89K tons) and Japan (79K tons), with a combined 40% share of global consumption. India, Indonesia, Vietnam, South Africa, the Netherlands, Thailand, Italy, France, Malaysia and China lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Vietnam (with a CAGR of +12.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($167M), South Korea ($126M) and Japan ($73M) constituted the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. Vietnam, India, Indonesia, the Netherlands, South Africa, Thailand, France, Italy, Malaysia and China lagged somewhat behind, together accounting for a further 40%.

Vietnam, with a CAGR of +13.6%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of butanone per capita consumption was registered in the Netherlands (1,651 kg per 1000 persons), followed by Japan (634 kg per 1000 persons), South Africa (556 kg per 1000 persons) and Vietnam (380 kg per 1000 persons), while the world average per capita consumption of butanone was estimated at 1.1 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the butanone per capita consumption in the Netherlands totaled +9.1%. In the other countries, the average annual rates were as follows: Japan (-3.6% per year) and South Africa (+6.5% per year).

Production

World Production of Butanone (Methyl Ethyl Ketone)

In 2022, approx. 649K tons of butanone (methyl ethyl ketone) were produced worldwide; with a decrease of -1.6% against the previous year's figure. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 7.2%. As a result, production reached the peak volume of 688K tons. From 2017 to 2022, global production growth remained at a lower figure.

In value terms, butanone production fell modestly to $675M in 2022 estimated in export price. Over the period under review, production recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. Over the period under review, global production attained the maximum level at $895M in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (266K tons), Japan (173K tons) and the Netherlands (83K tons), with a combined 80% share of global production. South Africa, Taiwan (Chinese) and Brazil lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +1.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Butanone (Methyl Ethyl Ketone)

In 2022, after two years of growth, there was decline in overseas purchases of butanone (methyl ethyl ketone), when their volume decreased by -3.2% to 626K tons. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 19%. Over the period under review, global imports attained the peak figure at 651K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, butanone imports soared to $1.2B in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 45% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The United States (113K tons) and South Korea (89K tons) were the major importers of butanone (methyl ethyl ketone) in 2022, amounting to approx. 18% and 14% of total imports, respectively. It was distantly followed by Belgium (51K tons), India (46K tons), Indonesia (40K tons), Vietnam (38K tons) and Germany (29K tons), together committing a 33% share of total imports. The Netherlands (23K tons), Thailand (23K tons), Italy (21K tons), France (15K tons), Malaysia (13K tons) and Spain (12K tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +18.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($210M), South Korea ($137M) and Belgium ($116M) were the countries with the highest levels of imports in 2022, together comprising 38% of global imports. Vietnam, India, Indonesia, Germany, the Netherlands, Thailand, France, Italy, Spain and Malaysia lagged somewhat behind, together comprising a further 42%.

Among the main importing countries, the Netherlands, with a CAGR of +16.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average butanone import price amounted to $1,966 per ton, growing by 43% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone import price increased by +70.4% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Spain ($2,633 per ton), while South Korea ($1,536 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Butanone (Methyl Ethyl Ketone)

For the fourth consecutive year, the global market recorded growth in overseas shipments of butanone (methyl ethyl ketone), which increased by 3.5% to 601K tons in 2022. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 14% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, butanone exports skyrocketed to $1.1B in 2022. In general, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +85.7% against 2019 indices. The pace of growth was the most pronounced in 2017 when exports increased by 55%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China represented the main exporting country with an export of about 255K tons, which resulted at 42% of total exports. It was distantly followed by Japan (94K tons), the Netherlands (77K tons), South Africa (45K tons), Belgium (41K tons), Germany (28K tons) and Taiwan (Chinese) (28K tons), together achieving a 52% share of total exports.

China was also the fastest-growing in terms of the butanone (methyl ethyl ketone) exports, with a CAGR of +9.6% from 2012 to 2022. At the same time, Japan (+2.9%) displayed positive paces of growth. The Netherlands experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.2%), Germany (-1.2%), South Africa (-1.9%) and Belgium (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +21 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($385M) emerged as the largest butanone supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by the Netherlands ($164M), with a 15% share of global exports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +11.1%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+2.5% per year) and Japan (+4.6% per year).

Export Prices By Country

In 2022, the average butanone export price amounted to $1,778 per ton, jumping by 36% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +72.3% against 2019 indices. The growth pace was the most rapid in 2017 when the average export price increased by 36%. The global export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($2,530 per ton), while Japan ($1,366 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform