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Global Butyl Acetate Market to Grow at a CAGR of 3.71% by 2032 | ChemAnalyst
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.
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.
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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.
Key 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.