The global 2-ethylhexyl acetate market is projected to progress steadily at 4% CAGR through the forecast period (2019-2029), as projected by a new report by Future Market Insights (FMI). Leading market players are investing in the applications for aerospace and automotive sectors for refinish coating applications. The rising trend of adopting organic chemical compounds will also aid in the growth of the industry through the forecast period.
"2-ethylhexyl acetate is used extensively as a substitute to traditional solvents, to minimize the levels of VOCs. Strict regulations associated with VOC components will boost demand for 2-ethylhexyl acetate through the forecast period," states the FMI report.
2-Ethylhexyl Acetate Market: Key Findings
- 2-ethylhexyl acetate with ≥99% purity will remain a highly preferred grade in the global market, owing to tighter regulations.
- Industrial solvent applications will account for a larger share of the total market value, while performance chemicals will display a faster growth rate.
- Paint and coating applications will account for major demand share, with substantial impetus coming from the automotive and aerospace industries.
- Emerging economies such as China and India are anticipated to display major remunerative opportunities for manufacturers.
2-Ethylhexyl Acetate Market: Key Driving Factors
- Applications of 2-ethylhexyl acetate in leather processing, and cosmetics industries are key growth drivers for the market.
- Increased consumption of printing inks in the packaging industry generating profitable sales opportunities.
- Stricter health and environment regulations being set on the global chemicals industry is increasing the adoption of 2-ethylhexyl acetate.
- Rise in renovation and construction projects, and the resultant demand for protective coatings is a major driver for global demand.
2-Ethylhexyl Acetate Market - Key Restraints
- The sluggish growth of the global leather industry is a factor that can hamper the market growth.
- Volatility in the prices of crude oil, and petrochemical feedstock will limit growth of the 2-ethylhexyl acetate market.
- Changes in regulations, and the development of alternative products, is a deterrent to 2-ethylhexyl acetate businesses.
Global Covid-19 Impact
With major production of 2-ethylhexyl acetate occurring in China, the coronavirus pandemic has resulted in major damages to the industry, as factory shutdowns, and supply chain disruptions constrict manufacturing operations. Fluctuations in prices and unpredictability in raw material supplies are likely to be detrimental.
Further, with nationwide lockdowns occurring in numerous parts of the world, the demand for paints and coating products has declined. This in turn impacts the demand for 2-ethylhexyl acetate for the coming months. Problems have been compounded by lack of skilled professionals in the industry during this period, which will restrict market growth even further.
Competition Landscape of 2-ethylhexyl acetate Market
Some of the key players in the consolidated global 2-ethylhexyl acetate landscape that are covered in this study include, but are not limited to, Eastman Chemical Company, Chemoxy International Ltd., Polynt SpA, and BASF SE and others. Leading market players remain focused on optimizing supply chains for procuring raw materials within the industry. Market leaders are also targeting product and technological innovations, and customized product launches to strengthen their foundation in the global 2-ethylhexyl acetate market.
More About the Report
This Future Market Insights study of 300 pages offers actionable insights on the 2-ethylhexyl acetate market. The market analysis is based on purity (purity ≥ 99%, and purity <99%), application (industrial solvents and performance chemicals), and end use (automotive & aerospace, paints & coatings, leather industry, cleaners & paint stripping systems, and others), across eight regions (Latin America, North America, Europe, South Asia, East Asia, Oceania, Emerging Countries, and MEA).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
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