Butyl Acetate Market Share | Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2027)
Overview:
The global butyl
acetate market share has been segmented on the basis of application, end-use
industry, and region.
By application, the
global Butyl Acetate Market Share has been
classified into paints & coatings, pharmaceutical, perfumes, flavors,
printing inks, and others. The use of butyl acetate in the production of paints
& coatings is increasing as it offers waterproof coatings as well as acts
as a solvent for the preparation of paints and coatings. This has driven its
demand in the construction industry, attributing to the wide application of
paints and coatings. Additionally, paints and coatings are used in the
packaging and automotive industries due to their unique properties such as good
evaporation rate and excellent protection offered by it. The rapid growth of
the construction industry is also expected to fuel the growth of the global
butyl acetate market.
On the basis of
end-use industry, the global butyl acetate market has been divided into
automotive & transportation, building & construction, healthcare,
cosmetics, food & beverage, and electrical & electronics. Among these,
the building & construction industry held the largest share of the global
butyl acetate market in 2017 and is expected to witness significant growth
during the review period. The growth of the building & construction
industry across the globe is boosting the demand for butyl acetate.
Furthermore, butyl acetate is used in spray paintings, lacquer coatings, glue
manufacturing, and paint mixing, which contributes to its increasing use in the
construction industry.
Regional
Analysis:
The global Butyl
Acetate market share has been analyzed across five regions, namely
Asia-Pacific, North America, Europe, Latin America, and the Middle East &
Africa. The Asia-Pacific market is expected to witness healthy growth during
the review period, owing to the increasing construction activities and growth
of the pharmaceutical industry. North America is projected to have remarkable
growth during the forecast period, owing to the increasing use of the product
in the automotive, construction, and pharmaceuticals industries. The European
market for butyl acetate is expected to grow at a significant rate due to the growing
use of the product in different applications, especially in automobiles. While,
the Latin American and the Middle East & African markets for butyl acetate
are projected to witness moderate and sluggish growth, respectively, during the
review period.
Market
players:
Some of the major
players operating in the global butyl acetate market share are 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).
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