The GlobalButyl Acetate for Paints Coatings Marketis forecast to reach USD 8.60 Billion by 2027, according to a new report by Reports and Data. Butyl acetate or n-Butyl acetate is an organic compound with a colorless liquid formation and has a characteristic sweet and fruity smell. Butyl acetate is widely mixed as the solvent and diluent in the lacquers coatings and adhesives sealants for its comparatively low cost, low toxicity, and agreeable odor. It is commonly used in nail varnish removers and in the color and inks to mark fruit or vegetables. Butyl acetate is a prominent organic compound found in alcoholic beverages, fruit juices, beer, wine, spirits, and others. The global market is growing at a substantial pace due to the growing demand for butyl acetates in the food beverages for its distinctive sweet flavor and in the adhesives sealants as a comparatively low-cost solvent. Owing to a high rise in the disposable income in the emerging countries, the fascinations for architectural improvement has been a high propellant factor for this market.
Top Companies Operating in the Global Butyl Acetate for Paints Coatings Market:
BASF SE, Eastman Chemical Company, INEOS Oxide Ltd, Eastman Chemical Company, BASF PETRONASChemicals, Celanese Corporation, Yangtze River Acetyls, The Dow Chemical Company, Sipchem, and Merck KGaA
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Further key findings from the report suggest
- A massive quantity of butyl acetate are required for use in the manufacturing of flexible packaging and the photographic films. The treatment of the aluminum films involves this organic compound as a solvent. Also, the high printing resolution provided by this compound on both the plastics and metals surfaces makes it highly favorable for the packaging industry. The packaging industry sub-segment in the end-use verticals is forecasted to gain a market share of 12.4% by 2027.
- Growing penetration of the online retailing businesses for chemicals and materials, especially in the emerging nations in Asia Pacific, are helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Due to non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027.
- European region is forecasted to witness a significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 2.8% during the forecast period. Germany holds some of the most prominent players in this region.
- North America, with its high demand in the automotive paints, is accounted to retain a significant position in the global market with a market share of about 26.8% by 2027, and the CAGR is calculated to be 5.2% during the forecast period.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Butyl Acetate for Paints Coatings Market Segmentation
Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
- Online Retailing
- Offline Retailing
Application Outlook (Revenue, USD Billion; 2016-2027)
- Paints Coatings
- Adhesives Sealant
- Process Solvent
- Activator Hardener
- Other Applications
End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
- Food Beverages
- Architectural
- Packaging Industry
- Automotive
- Consumer Goods
- Others
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