The new report by Expert Market Research titled, ‘Global Methyl Acetate Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global methyl acetate market, assessing the market based on its segments like end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.9%
The market for methyl acetate has seen substantial growth due to factors such as the flexographic ink, which is primarily used for printing applications in the packaging industry. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the methyl acetate market. As a result, the growth of the packaging industry will boost demand for flexographic inks, which will support the growth of the methyl acetate market. The packaging sector is rapidly expanding in countries such as India, China, Germany, and the United States, owing to the growing popularity of online trading and e-commerce, as well as increased demand for delivery of doorstep commodities. The increasing production of foam blowing agents is a significant factor that will drive the growth of the methyl acetate market over the forecast period.
Methyl Acetate Industry Definition and Major Segments
Methyl acetate is a colourless, flammable liquid that is commonly used in low-toxic solvent goods such as paints, adhesives, and nail polish remover. Many resins and oils also use it as a solvent.
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Based on the end-use, the industry is divided into:
- Paints and Coatings
- Personal Care Industry
The regional markets for methyl acetate include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Methyl Acetate Market Trends
Due to its remarkable features, such as better evaporation rate, exceptional solvent activity, quickly biodegradability, low odour, and others, methyl acetate is used in a variety of industries. Methyl acetate has the potential to replace commercial solvents as an ingredient in paints and coating solutions due to these qualities. The demand for methyl acetate-based paint and coating solutions is increasing as the construction, automobile, and aerospace industries increase.
Furthermore, regulatory rules in North America and Europe regulating the use of low-VOC solvents have encouraged coating and paint manufacturers to use biocompatible solvents such as methyl acetate in coating formulations. Various variables, such as the consumption of novel personal care and cosmetic products created from methyl acetate by the youth population for grooming purposes, are also driving the methyl acetate market forward.
Key Market Players
The major players in the market are Celanese Corp. (NYSE: CE), China Petrochemical Corp., Eastman Chemical Co., Wacker Chemie AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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