Know More Details on Butyl Acetate Market: Global Industry Analysis by 2021
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[ClickPress, Wed Oct 10 2018] Butyl acetate, also known as butyl ethanoate is an organic compound which is majorly used as a solvent for manufacturing lacquers and other products. It is a flammable colorless liquid which is found in various types of fruits. Butyl acetate is commonly used as a synthetic fruit flavoring in certain food products such as cheese, ice creams, candies and baked goods. It is primarily manufactured by the Fischer esterifaction of acetic acid and butanol isomer in the presence of catalytic sulfuric acid. Butyl acetate also serves as a raw material in certain coating, cosmetic and adhesive industries. Various isomers of butyl acetate are produced in the industry such as sec-butyl acetate, tert-butyl acetate and isobutyl acetate.
The global market for butyl acetate has witnessed a significant growth over the past few years, primarily driven by the growing demand in the Asia Pacific region. Production facilities of the compound are primarily concentrated in North America and Europe, which also serve as the major exporting regions. Developed regions such as the Middle East is anticipated to gain significant share in the butyl acetate industry on account of increasing efforts by their governments to attract various petrochemical and chemical companies.
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Asia Pacific was the largest consumer for butyl acetate consuming a substantial share of the market over the past few years. The market for butyl acetate in emerging economies such as China has been well-established on account of increasing use of automotive paints and coatings. China also serves as a prominent importer for butyl acetate; hence, the market dynamics in the country are strongly dependent on the exporting regions. European market for butyl acetate is anticipated to witness a slow growth rate as various manufacturers are shifting their focus from Europe to Asia Pacific on account of the wide production-demand gap in the latter region. However, demand for butyl acetate from regions in rest of the world (ROW) is expected to rise significantly, primarily driven by huge investments in Saudi Arabia for establishing butyl acetate manufacturing facilities. The Saudi Arabian government has successfully designed its policies for the purpose of attracting certain large scale chemical companies in the country. In addition, easy availability of raw materials for petrochemicals and strategic location of the country have attracted various companies towards establishing their production units in the country.
Increased use of water-based coatings and automotive paints is expected to be the major driving factor for the growth of butyl acetate market over the next few years. Moreover, growing demand for butyl acetate in cosmetic products and adhesives is also expected to contribute towards the growth of the market. However, increasing health concerns regarding the hazardous use of butyl acetate is expected to hamper the growth of the market. Over exposure to butyl acetate causes irritation to human body. Hence, various health organizations have been involved in continuously monitoring the exposure levels. Increasing R&D activities towards developing innovative products such as tert-butyl acetate as a substitute to volatile organic compounds (VOCs) are expected to provide new opportunities for the growth of the market.
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Alfa Aesar GMBHh & CO KG, BASF SE, China National Petroleum Corporation, Eastman Chemical Company, Ineos Oxide Ltd, Mitsubishi Chemical Corporation, Sasol Limited, and The Dow Chemical Company are some of the key manufacturers of butyl acetate dominating the market.