Global Butyl Acetate Market Report and Forecast 2024-2032

Global Butyl Acetate Market Outlook

The global butyl acetate market is expected to grow at a CAGR of 3.80% in the forecast period of 2024-2032.

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Significant Demand from the Asia Pacific Region to Aid the Growth of Butyl Acetate Industry Growth

The market growth of butyl acetate is supported by the significant demand from the Asia Pacific region in the recent years. Over the recent years, the Asia Pacific region has been a significant consumer of butyl acetate. Emerging countries such as China have a substantial market for the product owing to the rising use of automotive paints and coatings. China is also an important importer of butyl acetate, which makes its highly dependent on the exporting regions. North America and Europe are the major regions for the production and export of butyl acetate. Regions like the Middle East are expected to acquire a significant market share of the butyl acetate owing to the rising efforts by their governments to attract several petrochemical and chemical companies.

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Butyl Acetate: Market Segmentation

Butyl acetate, variously known as butyl ethanoate, is an organic compound that is mainly used as a solvent for manufacturing lacquers and other products. The product is a flammable, colourless liquid, which is found in various types of fruits. It is a commonly used as a synthetic fruit flavouring in a variety of food products such as ice creams, cheese, candies, and baked goods.

On the basis of application, the market is divided into:

• Paints and Coatings
• Pharmaceuticals
• Perfumery
• Food Flavours
• Cosmetics
• Plasticisers
• Electricals
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Use of Automotive Paints and Water-Based Coatings to Aid the Market Growth of Butyl Acetate

The market for butyl acetate is driven by the rising use of automotive paints and water-based coatings, globally. Furthermore, the increasing demand for butyl acetate from the cosmetics industry and for adhesives is also expected to propel the market growth over the forecast period. In addition, the rising R&D activities to develop innovative products such as tert-butyl acetate as a substitute for volatile organic compounds (VOCs) is expected to offer new opportunities for the market growth of butyl acetate. However, the market is expected to be hindered by the growing health concerns associated with the hazardous use of butyl acetate. Also, over exposure to this compound causes irritation to the human body, which might also adversely affect the market growth.

Key Industry Players in the Global Butyl Acetate Market

The report gives a detailed analysis of the following key players in the global butyl acetate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Dow Chemical Company
• Eastman Chemical Company
• Celanese Corporation
• BASF SE
• INEOS Group
• Shatabdi Chemicals (P) Ltd.
• Solvent Wistol S.A.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report: