MIBK has recorded steady growth in consumption, progressing solely on the basis of imports. Particularly in the last few years, domestic demand has grown substantially and recorded an annual compounded growth rate of over 10%. Prices are modulated by international fluctuations as the market is entirely dependent on imports.
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Major source countries include South Africa, Korea and Japan. Domestic production has been non-existent for the last seven years as the manufacturers have been unable to compete against cheap imports.
In India, MIBK is used a solvent in dissolving resins used in paints, inks, lacquers, and other types of surface coatings. MIBK is a Food and Drug Administration (FDA) approved indirect food additive for adhesives, paper and paperboard and polymers. It is also employed in rare-metal extraction as a solvent for metal separation, and is consumed in the manufacture of lube oil additives.
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