Alkyl Acetates Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3664
Alkyl Acetates Market size is anticipated to witness gains owing to its utilization in adhesive, paints & coatings, pharmaceutical, cosmetic and personal care application. Alkyl acetate compounds are formed by combining alkyl group on acetate atoms and are characterized by numbers of carbon atoms. Alkyl acetates including methyl acetate, ethyl acetate, n-butyl acetate, n-propyl acetate, isopropyl acetate and isobutyl acetate are extensively utilized for their distinct characteristics.
Global paints & coatings market is anticipated to surpass USD 200 billion by 2022 owing to increasing demand from end use industries including automotive, construction and furniture. Ethyl acetate is widely utilized in nitrocellulose and cellulose acetate manufacturing which are used as primary products in paints & coatings processing which may fuel alkyl acetates market size by 2025.
Expanding agricultural sector owing to supportive government initiatives including subsidizing agrochemical products may fuel product demand. Ethyl acetates is utilized as inert chemical and solvent for pesticides production owing to its antibacterial properties which helps in shielding crops from pest, mites and insect. These factors are likely to stimulate alkyl acetates market size in foreseeable timeframe.
Global dairy market is may exceed USD 700 billion by 2024 owing to its increasing usage in daily staple diet as it possesses high nutritional content. N-butyl acetate is utilized as a chemically synthesized agent in ice cream, cheese, yogurt, milk and cream processing owing to its property of imparting fruity flavour which improves taste and texture of these dairy products. These properties are anticipated to foster alkyl acetate market growth by 2025.
Global adhesives & sealants market may surpass USD 80 billion by 2025 owing to its wide usage in construction, automotive and packaging industry. N-propyl acetate is utilized in adhesive manufacturing owing to its high bonding power along with maintaining high stability by resisting surfaces from moisture thereby improving strength, robustness and durability which may fuel alkyl acetates market size by 2025.
Global pharmaceutical market is projected to surpass USD 1.5 trillion by 2023 owing to increasing prevalence of general medical ailments including infection, cold and fever may propel product demand. N-butyl acetate is utilized in Penicillin G manufacturing which is widely utilized across the globe for fighting bacterial infection and shielding body from detrimental microbes which may propel alkyl acetates market size.
Direct exposure to alkyl acetates for shorter period can lead to irritation in eyes, throat and nose which is followed by headache, vomiting and nausea. However, exposure for longer period can cause depression and congestion of kidney and liver along with causing chronic medical ailments including leucocytosis (transient increase in the white blood cell count) and anaemia which may challenge alkyl acetates industry profitability.
North America led by Mexico, Canada and U.S. alkyl acetates market size is projected to stimulate due to growing construction and infrastructural development. These products help in paints & coating manufacturing owing to its high adhesive power which holds wall surfaces for longer period thereby maintaining its durability. It also provides an emulsion layer on walls which resist wall from thermal & UV, heat, and water which may fuel market size by 2025.
Europe driven by UK, Spain, Italy, France and Germany alkyl acetates market size may register significant gains. Growing pharmaceutical industry due to civil infrastructural development which includes nurseries, clinics and hospitals will favour regional product demand. It is utilized in penicillin and anti-cancer drugs manufacturing which shield body from fatal cancerous tumours growth. These factors are likely to boost alkyl acetates market size in foreseeable timeframe.
Asia Pacific market led by Australia, South Korea, Japan, India and China alkyl acetates market size may witness steady gains owing to increasing milk production which will promote dairy products manufacturing. This product is utilized in cheese, milk, creams and ice cream making owing to its property of improving taste and texture which may fuel market growth by 2025.
Global alkyl acetates market share is moderately fragmented with major players includes Sipchem, INEOS, Eastman Chemical Company, Arkema, The Dow Chemical Company, Celanese Corporation and Yangtze River Acetyls.
Manufacturers are focusing on expansion by implementing strategic alliance, joint ventures and mergers & acquisitions. In addition, companies are also investing in high purity products production. In May 2016, Sekisui Specialty Chemicals announced major capacity expansion of high purity methyl acetate production unit in Spain. This expansion will strengthen its market position and serve existing customer base with differentiated methyl acetate products. These factors may drive industry growth.
Alkyl Acetates Market, By Type, 2014-2025 (Kilo Tons) (USD Million)
- Methyl acetate
- Ethyl acetate
- N-butyl acetate
- N-propyl acetate
- Isopropyl acetate
- Isobutyl acetate
Alkyl Acetates Market, By Application, 2014-2025 (Kilo Tons) (USD Million)
- Food & Beverages
- Paints & Coatings
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Saudi Arabia
- South Africa
- Eastman Chemical Company
- The Dow Chemical Company
- Celanese Corporation
- Yangtze River Acetyls
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