Butyl Acetate Market: Information by Application (Paints, Coatings, Chemicals, Pharmaceuticals, Perfumes, Flavors), End-Use Industry (Automotive & Transportation, Building & Construction, Healthcare, Food & Beverage), and Region — Global Forecast till 2030
ID: MRFR/CnM/6108-HCR | February 2021 | Region: Global | 140 pages
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Butyl Acetate Market Synopsis:
Butyl acetate consumption was about 1.2 million tons in 2013 and reached to 1.42 million tons in 2017. The global butyl acetate market is expected to register a CAGR of 3.2% during the forecast period, 2022–2030.
Butyl acetate is a colorless, flammable liquid with a fruity odor. It is typically used to dissolve other substances including nitrocellulose. It is found naturally in food products and can also be produced chemically. It is a low viscosity liquid mainly used as a solvent in various end-use industries.
Butyl acetate is commonly used to produce flavors used in the food processing industry to impart the desired flavor to the food and beverages. With an evaporation rate of 1, it provides quick-drying lacquer conditions. It is also used as a solvent in the manufacturing of paints and coatings. It acts as a basic film-forming material, which results in better finishing in paints, coatings, and nail polish, among others. Additionally, the use of butyl acetate in the production of road marking materials, sealants, adhesives, and architectural coatings is increasing its demand in the construction industry.
Furthermore, butyl acetate also finds applications in the manufacturing of printing inks, auto plastics, automobile parts, automobile coatings, and auto refinishing. Also, butyl acetate is used in the manufacturing of packaging components for the food packaging industry. Thus, with the growth of the automotive & transportation, construction, and food & beverage industries, the demand for butyl acetate is expected to increase in the coming years.
In industrial applications such as industrial coatings, maintenance, and protective coatings, the use of butyl acetate is increasing with the growth of the industrial sector. Additionally, one of its major uses is in cosmetics and perfumes. It is used to impart fragrance in perfumes, while in cosmetics it acts as a binding agent in the production process. The growing use of cosmetics and perfumes across the globe is expected to fuel the growth of the global butyl acetate market. However, the hazardous issues such as overexposure to workers, which may cause lungs and kidney problems, during the production of butyl acetate are expected to restrain the growth of global butyl acetate market during the forecast period.
.Global Butyl Acetate Market, by Application, 2017 (%)
Source: MRFR Analysis
Segmental Analysis:
The global butyl acetate market has been segmented on the basis of application, end-use industry, and region.
On the basis of application, the global butyl acetate market has been classified into paints, coatings, pharmaceutical, perfumes, flavors, printing inks, and others.
By end-use industry, the global butyl acetate market has been divided into automotive & transportation, building & construction, healthcare, cosmetics, food & beverage, and electrical & electronics.
Regional Analysis:
Global butyl acetate market has been spanned across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest share of the global butyl acetate market in 2017. The growth of end-use industries such as automotive, construction, and paints & coatings, are expected to boost the growth of the butyl acetate market in Asia-Pacific.
The North American market held the second-largest share of the global butyl acetate market in 2017. The increasing application of butyl acetate in cosmetics and pharmaceuticals and the growth of these industries in North America due to the increasing use of butyl acetate for flavoring in food & beverage industry is expected to fuel the growth of the regional market during the forecast period.
The European market is witnessing rapid growth in the automotive and construction sectors, which is projected to fuel the demand for butyl acetate and drive the growth of the regional market during the forecast period.
The Latin American market is observing tremendous growth in the healthcare and food & beverage industries. The growth of these industries is expected to boost the growth of the butyl acetate market in the region.
The Middle East & African market is expected to witness sluggish growth in the global butyl acetate market during the forecast period. This is attributed to the growing construction industry in the region.
Market Players:
BASF SE (Germany), DowDuPont (US), Eastman Chemical Company (US), Celanese Corporation (US), INEOS (US), Yangtze River Acetyls (China), Mitsubishi Chemical Corporation (Japan), Sasol (South Africa), Alfa Aesar (US), Sipchem (Saudi Arabia), Industrias Monfel, SA (Mexico), Merck KGaA (Germany), and Kai Co., Ltd. (South Korea) are some of the key players operating in the global market.
Recent Development
Sep 2021 - Raw materials to OQ Chemicals are temporarily prohibited due to a technical fault in the location of a third-party synthesis gas unit at the Oberhausen, Germany. A leak was discovered during a routine check near the valves on the cylinder block. Regrettably, the compressor had to be pulled out of operation for safety reasons to carry out immediate repairs off-site. As a result, OQ Chemicals is unable to meet its production targets. Because the source of the supply constraints is beyond OQ Chemicals' immediate control, the business is forced to declare force majeure for Propionaldehyde, 2- Ethylhexanol, n- and iso-Butyraldehyde, n- & iso-Butanol, and n-Butyl Acetate with immediate effect. Resultantly, OQ Chemicals will be unable to make distributions of these products as planned. The existing volumes will be allocated fairly and reasonably.
Intended Audience:
- Manufacturers and Producers of Butyl Acetate
- Traders and Distributors of Butyl Acetate
- Raw Material Suppliers
- Nationalized Laboratories
- Research and Development Organizations
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: Significant Value |
| CAGR | CAGR 3.2% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Basis of application, end-use industry, and region. |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | BASF SE (Germany), DowDuPont (US), Eastman Chemical Company (US), Celanese Corporation (US), INEOS (US), Yangtze River Acetyls (China), Mitsubishi Chemical Corporation (Japan), Sasol (South Africa), Alfa Aesar (US), Sipchem (Saudi Arabia), Industrias Monfel, SA (Mexico), Merck KGaA (Germany), and Kai Co., Ltd. (South Korea) |
| Key Market Opportunities | Guiding the growth of the market includes the rising R&D activities to develop innovative products, such as tert-butyl acetate. |
| Key Market Drivers |
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Frequently Asked Questions (FAQ) :
The outlook of the global butyl acetate market looks very promising.
butyl acetate market is estimated to register 3.2% CAGR during the forecast period (2018-2023).
On the basis of end-use industry, the building & construction segment dominates the global butyl acetate market.
Asia Pacific holds the largest share in the global butyl acetate market, followed by North America and Europe, respectively.
DowDuPont (US), BASF SE (Germany), Eastman Chemical Company (US), INEOS (US), Celanese Corporation (US), Yangtze River Acetyls (China), Sasol (South Africa), Mitsubishi Chemical Corporation (Japan), Alfa Aesar (US), Industrias Monfel, SA (Mexico), Sipchem (Saudi Arabia), Kai Co., Ltd. (South Korea), and Merck KGaA (Germany), are some of the major players operating in the butyl acetate market.
