Methyl Acetate Market by End-Users and Geography - Global Forecast 2019-2023
Global Methyl Acetate Market: About this market
Methyl acetate primarily comprises of acetic acid, methanol, and sulfuric acid. Technavio’s methyl acetate market analysis considers sales of methyl acetate for various applications in end-user industries including paints and coatings, inks, and personal care. Our analysis also considers the sales of methyl acetate in APAC, Europe, North America, South America, and MEA. In 2018, the paints and coatings segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the high purity and low volatility of methyl acetate will play a significant role in the paints and coatings segment to maintain its market position. Our global methyl acetate market report looks at factors such as the increasing demand for methyl acetate in paints and coatings industry, rise in production of foam blowing agents, and use of methyl acetate regarded safe in the food industry. However, the supply-demand imbalance of methyl acetate, health hazards of methyl acetate, and regulations on the use of methanol may hamper the growth of the methyl acetate industry over the forecast period.
Global Methyl Acetate Market: Overview
The rise in production of foam blowing agents
Foam blowing agents are extensively used in PU foams as it imparts elasticity, electrical insulation, and excellent textures. However, since foam blowing agents such as HFCs and HCFCs can cause health hazards, methyl acetate is being increasingly used instead. The demand for methyl acetate in the production of various foams will lead to the expansion of the global methyl acetate market at a CAGR of almost 7% during the forecast period.
Increasing adaptation of flexographic inks
With the increasing demand for doorstep commodity delivery and popularity of online trade and e-commerce, the adoption of printing inks in the packaging industry is gaining traction. This drives the demand for methyl acetate as it is used as photoresistor strippers in flexographic printing inks. This demand is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global methyl acetate market during the forecast period 2019-2023, click here.
With the presence of several major players, the global methyl acetate market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading methyl acetate manufacturers, that include Celanese Corp., China Petrochemical Corp., Eastman Chemical Co., EuroChem Group AG, and Wacker Chemie AG.
Also, the methyl acetate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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