Butyl Acetate Market is Set To Experience Revolutionary Growth from 2022 to 2030

The Butyl Acetate Market is projected to expand at a rapid pace during the forecast period, owing to technological advancements and application-specific growth. Market participants in the Butyl Acetate Market are adjusting their functioning models to the new normal by shifting toward automation of functions and embracing new technologies in robotic automation and artificial intelligence.

Butyl Acetate Market is projected to be worth USD 1443.8 million by 2030, registering a CAGR of 2.9% during the forecast period (2021 – 2030). The worldwide demand for butyl acetate is being fueled by the growing usage of automotive paints and water-based coatings. Moreover, rising demand for butyl acetate from the cosmetics industry and adhesives is anticipated to propel market expansion during the forecast period. Furthermore, increasing R&D operations to create inventive goods, including tert-butyl acetate as an alternative for volatile organic compounds (VOCs), are likely to create new possibilities for the expansion of the butyl acetate market. Nevertheless, the demand is anticipated to be hampered by rising medical concerns linked with the dangerous usage of butyl acetate. Furthermore, excessive exposure to this compound leads to inflammation in the human body, which may have a negative impact on market growth.

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Regional Analysis

Butyl acetate market growth has been aided in past years by considerable demand from the Asia-Pacific region. The Asia Pacific area has been a considerable customer of butyl acetate in past years. Because of the increased use of automobile paints and coatings, developing nations such as China have a sizable market for the commodity. China is also a significant importer of butyl acetate, making it highly reliant on exporting regions. Butyl acetate is primarily produced and exported in North America and Europe. Because of their governments’ increased initiatives to attract petrochemical and chemical companies, territories such as the Middle East are predicted to gain a large market share of butyl acetate.

Market Segmentation

Butyl acetate, also known as butyl ethanoate, is an organic compound used primarily as a solvent in the production of lacquers as well as other products. The substance is an ignitable, colourless liquid spotted in a variety of fruits. It is a synthetic fruit seasoning that is popularly utilised in a wide range of food items such as ice cream, cheese, candies, and baked goods.

The industry is split into three categories based on application: pharmaceuticals, perfumery, food flavours, paints and coatings, cosmetics, and many more.

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Key Players

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 and SA (Mexico), among others.

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