NEWARK, Del, July 05, 2022 (GLOBE NEWSWIRE) -- The global demand for Methyl Ethyl Ketone Peroxide (MEKP) Market is projected to grow at a CAGR of around 4.8% to 5% during the forecast period from 2022-2032, totalling nearly $5 billion by 2028.The future looks bright with this particular chemical that can be used in various industries including manufacturing & construction.
Rising use of methyl ethyl ketone peroxide in polymer and composite assembling is driving development in the worldwide methyl ethyl ketone peroxide market.
Methyl ethyl ketone peroxide (MEKP) is a sort of natural peroxide. It is a dreary fluid sleek in nature. Methyl ethyl ketone peroxide (MEKP) is profoundly delicate for shock, grinding, fire, heat, and different wellsprings of start, in this way the creation of methyl ethyl ketone peroxide is a hazardous cycle, and it needs severe following of wellbeing standards underway, stockpiling and transportation of methyl ethyl ketone peroxide (MEKP).
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Methyl ethyl ketone peroxide (MEKP) is fabricated from hydrogen peroxide and methyl ethyl ketone, in a controlled response climate. Methyl ethyl ketone peroxide (MEKP) is significantly utilized in tar and polymer industry as a relieving specialist or as a solidifying specialist. It goes about as an impetus for commencement of relieving response in different polymers and composites.
Market Dynamics of Methyl Ethyl Ketone Peroxide (MEKP) Market
Increasing polymer and composite industry is expected to push the growth of methyl ethyl ketone peroxide (MEKP) demand
Increasing demand for lightweight and high performance materials is driving the demand for composite materials from various industries including automotive, transportation, aerospace, defense, and other manufacturing. Growth in demand for composites and FRP is expected to boost the demand for curing agent which will in turn accelerate demand for methyl ethyl ketone peroxide (MEKP).
Methyl ethyl ketone peroxide (MEKP) is also used in the manufacturing of acrylic acid, which has large demand from various industries. Therefore rising acrylic acid market demand is expected to push the demand for methyl ethyl ketone peroxide (MEKP), during the forecast period
Explosive properties of methyl ethyl ketone peroxide (MEKP), and increasing safety norms by various countries, may impact the potential growth on the methyl ethyl ketone peroxide (MEKP) market
Methyl ethyl ketone peroxide (MEKP) is highly flammable and explosive in nature, therefore, risk is included in the production and handling of methyl ethyl ketone peroxide (MEKP). Increasing safety rules and regulations related to material handling and use may impact on growing opportunities for methyl ethyl ketone peroxide (MEKP) market.
Presence of alternative curing agents in the market is one of the big threat for the market growth, however, some of the properties of methyl ethyl ketone peroxide (MEKP) are favored by the composite and polymer manufacturers.
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Methyl ethyl ketone peroxide (MEKP) market trends: Contracts and agreements for long term relationship the customers and expansion are the major strategies followed by the market players
Increasing number of small scale players, especially in China and other Asian countries, is intensifying the competition amongst the manufacturers of methyl ethyl ketone peroxide (MEKP) to sustain in the market. Manufacturers are therefore focusing on the long terms contracts and agreements with the customers, for the supply of methyl ethyl ketone peroxide (MEKP). Expansion of the production capacities for meeting the increasing demand form high growth regions, has also been witnessed by the methyl ethyl ketone peroxide (MEKP).
Methyl Ethyl Ketone Peroxide (MEKP) Market: Regional Outlook
Asia Pacific led the global methyl ethyl ketone peroxide (MEKP) market, due to increasing demand from growing polymer and composite industry in the region. Moreover, increasing middle class population in the emerging economies in Asia Pacific are supporting the industry in the region. High GDP growth in the region is also bolstering the industrial production and packaging industry which is expected to push the industrial demand growth for polymers reflected into growth in demand for methyl ethyl ketone peroxide (MEKP).
Europe followed Asia Pacific in terms of demand for methyl ethyl ketone peroxide (MEKP), however the stringent regulations in Europe is affecting the potential growth of the methyl ethyl ketone peroxide (MEKP) market in this region. North America followed Europe methyl ethyl ketone peroxide (MEKP) market, expecting the significant growth over the forecast period. Increasing prices of raw materials in North America is reflecting into the prices of methyl ethyl ketone peroxide (MEKP). This is pushing the methyl ethyl ketone peroxide (MEKP) business in North America driving the global demand for methyl ethyl ketone peroxide (MEKP).
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Key Segments Profiled in the Methyl Ethyl Ketone Peroxide (MEKP) Industry Survey
By Function:
- Raw Material
- Curing/Hardening agent
By Application:
- Polymer Manufacturing
- Composite Manufacturing
By Resin Type:
- Polyester Resins
- Vinyl Ester Resin
- Other Resin
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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