According to ChemAnalyst report, “Global Butyl Acetate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, The Butyl Acetate market is expected to reach approximately 2800 thousand tonnes in 2032 at an expected CAGR of 3.71% in the forecast period. The surging demand for Butyl Acetate from major end-use industries, Paints & Coatings, Pharmaceuticals, Personal Care, and Leather Industry, is anticipated to favour the Butyl Acetate market expansion in the upcoming years.
Butyl Acetate is a highly flammable, colourless liquid that occurs naturally in many fruits such as apples and bananas, providing a characteristic door to the fruit. Butyl acetate is generally synthesized by the esterification reaction of n-butanol with acetic acid in the presence of an acid catalyst. Butyl acetate works well as a solvent for fats, oils, resins, polymers, etc. Various industries consume Butyl Acetate such as medicines, personal-care products, paints and coatings, food flavouring, plasticizers, electronics, and many more industries use butyl acetate. The largest market for the application of this chemical is its usage as a flavouring agent and in the coatings and paints industry. Butyl Acetate also finds its usage as a solvent in resins, varnishes, fragrances, fragrances, nail polish removers, and photographic film.
Browse the full report: https://www.chemanalyst.com/industry-report/butyl-acetate-market-758
The global Butyl Acetate market is mainly driven by its usage to manufacture paints and coatings. It is feasible to manufacture paints with great levelling and gloss because of butyl acetate’s mild volatility. With the growing demand of automotives and passenger vehicles with rapidly growing population across the globe, the demand for paints & coatings will most likely rise, creating a demand for butyl acetate. Also, with growing economies and infrastructure development is anticipated to further fuel the demand for paints & coatings, thus swell up the Butyl Acetate market in the forecast period. Butyl acetate is also used as a solvent or extraction agent in the pharmaceutical sector, which contributes finely to the market expansion.
The Butyl Acetate market is segregated based on end-use, sales channel, and region. Based on the end-user industry, the global Butyl Acetate market is segmented into Paints & Coatings, Pharmaceuticals, Personal Care, Leather Industry, and Others. Paints & Coatings is dominating the Butyl Acetate market with a consumption of 64% in 2022. Furthermore, the pharmaceutical industry is yet another impressive application.
Based on demand by region, Asia Pacific is consuming the majority of the Butyl Acetate market with a consumption of 56% in 2022. It is anticipated that Asia Pacific will most likely retain this position in the forecast period owing to the growing demand for paints & coatings for manufacturing passenger vehicles and in the construction sector for coating windowpanes, doors, etc. As of 2022, China has been the leading producer of Butyl Acetate with a production capacity of nearly 30%.
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“Global Butyl Acetate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, the significant players functional in the Global Butyl Acetate are Baichuan Chemical Industrial Co., Ltd., Jiangmen Handsome Chemical Development, OQ Chemicals, Yip’s Chemical Holdings Limited, Saudi International Petrochemical Company (Sipchem), Yankuang Goutai, Celanese Corporation, BASF SE, INEOS Group Limited, Yangtze River Acetyls Co. Ltd. (YARACO), Dow Chemical Company, Eastmen Chemical, Shiny Chemical Industrial CO.,Ltd., Shandong Jinyimeng Group Co. Ltd., and Others.
“Continuously increasing demand of paints & coating with rapid industrialization across the globe is expected to boost the demand for Butyl Acetate as a feedstock chemical in the forecast period until 2032. Due to ease of miscibility of Butyl Acetate in majority of the solvents such as acetones, ketones, and esters and ease of volatility, Butyl Acetate is often used in paints & coatings. Asia Pacific is leading consumer of Butyl Acetate and owing to expanding demand for paints & coatings for manufacturing automotives and construction segment is lubricating the Butyl Acetate market expansion. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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