Methyl Isobutyl Ketone Market

The article provides a detailed analysis of the global methyl isobutyl ketone market from 2022 to 2030. It includes forecasts for consumption trends, production volumes, and import and export figures. Key data points such as market value, country-specific consumption and production volumes, and average prices are highlighted. The highest consuming and producing countries, as well as the top importers and exporters, are identified. The article offers insights into the growth rates of the market and price trends over the review period.

Market Forecast

Driven by rising demand for methyl isobutyl ketone worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 710K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $1.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of 4-Methylpentan-2-One (Methyl Isobutyl Ketone)

In 2022, consumption of 4-methylpentan-2-one (methyl isobutyl ketone) was finally on the rise to reach 650K tons after three years of decline. In general, consumption, however, continues to indicate a slight curtailment. Over the period under review, global consumption hit record highs at 769K tons in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

The global methyl isobutyl ketone market revenue contracted slightly to $1.3B in 2022, with a decrease of -4.6% 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 mild reduction. Over the period under review, the global market hit record highs at $1.7B in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (154K tons), the United States (114K tons) and India (69K tons), with a combined 52% share of global consumption. Russia, the Netherlands, Brazil, Belgium, Mexico, Turkey, Japan, Iran, South Africa and Malaysia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +20.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($384M), the United States ($211M) and India ($109M) constituted the countries with the highest levels of market value in 2022, together comprising 54% of the global market. Russia, Turkey, the Netherlands, Brazil, Belgium, Mexico, Iran, Japan, South Africa and Malaysia lagged somewhat behind, together comprising a further 24%.

Among the main consuming countries, the Netherlands, with a CAGR of +20.7%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of methyl isobutyl ketone per capita consumption in 2022 were Belgium (1,455 kg per 1000 persons), the Netherlands (1,257 kg per 1000 persons) and the United States (341 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +20.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of 4-Methylpentan-2-One (Methyl Isobutyl Ketone)

In 2022, production of 4-methylpentan-2-one (methyl isobutyl ketone) increased by 0.3% to 644K tons, rising for the second year in a row after two years of decline. Overall, production, however, recorded a mild curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 3.9%. Global production peaked at 757K tons in 2013; however, from 2014 to 2022, production failed to regain momentum.

In value terms, methyl isobutyl ketone production contracted to $1.2B in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable setback. The pace of growth was the most pronounced in 2021 when the production volume increased by 20%. Global production peaked at $1.6B in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (134K tons), the United States (113K tons) and South Africa (55K tons), together accounting for 47% of global production. South Korea, India, Japan, the Netherlands, Russia, Brazil, Mexico, Turkey and Iran lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by South Korea (with a CAGR of +14.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of 4-Methylpentan-2-One (Methyl Isobutyl Ketone)

In 2022, the amount of 4-methylpentan-2-one (methyl isobutyl ketone) imported worldwide contracted to 172K tons, with a decrease of -4.7% compared with the previous year. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14%. As a result, imports attained the peak of 198K tons. From 2018 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, methyl isobutyl ketone imports reduced remarkably to $322M in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 137%. As a result, imports reached the peak of $428M, and then contracted rapidly in the following year.

Imports By Country

India (38K tons) and Belgium (36K tons) were the major importers of 4-methylpentan-2-one (methyl isobutyl ketone) in 2022, resulting at near 22% and 21% of total imports, respectively. China (21K tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Germany (5.6%). The United States (6.8K tons), Thailand (6.4K tons), Malaysia (6.4K tons), the Netherlands (5.4K tons), Singapore (4.9K tons), Italy (3.9K tons) and South Korea (3.8K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +23.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest methyl isobutyl ketone importing markets worldwide were Belgium ($76M), India ($61M) and China ($27M), with a combined 51% share of global imports. Germany, the Netherlands, the United States, Thailand, Italy, Singapore, South Korea and Malaysia lagged somewhat behind, together accounting for a further 26%.

In terms of the main importing countries, the Netherlands, with a CAGR of +23.4%, recorded the highest rates of growth with regard to 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

The average methyl isobutyl ketone import price stood at $1,872 per ton in 2022, which is down by -21% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 113% against the previous year. As a result, import price reached the peak level of $2,369 per ton, and then reduced dramatically in the following year.

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 Italy ($2,626 per ton), while Malaysia ($512 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of 4-Methylpentan-2-One (Methyl Isobutyl Ketone)

After two years of growth, overseas shipments of 4-methylpentan-2-one (methyl isobutyl ketone) decreased by -16.2% to 166K tons in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 27% against the previous year. As a result, the exports attained the peak of 199K tons, and then dropped notably in the following year.

In value terms, methyl isobutyl ketone exports shrank significantly to $306M in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 143%. As a result, the exports reached the peak of $425M, and then shrank remarkably in the following year.

Exports By Country

South Korea (50K tons) and South Africa (45K tons) were the main exporters of 4-methylpentan-2-one (methyl isobutyl ketone) in 2022, amounting to approx. 30% and 27% of total exports, respectively. Japan (19K tons) held the next position in the ranking, followed by Belgium (19K tons) and the Netherlands (9.5K tons). All these countries together held near 29% share of total exports. The United States (5.7K tons) and Brazil (4.1K tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +27.3%), while the other global leaders experienced mixed trends in the exports figures.

In value terms, South Korea ($81M), South Africa ($75M) and Belgium ($49M) constituted the countries with the highest levels of exports in 2022, together comprising 67% of global exports.

In terms of the main exporting countries, South Korea, with a CAGR of +25.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average methyl isobutyl ketone export price amounted to $1,838 per ton, which is down by -14.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 92%. As a result, the export price reached the peak level of $2,141 per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($2,569 per ton), while Japan ($1,446 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform