Growing preference for propyl acetate over ethyl acetate in several end-use industries, especially in the printing ink industry, is expected to boost its demand in the coming years. A clear, colorless liquid that has distinguishable acetate odor of pears, and is highly flammable, propyl acetate finds application across diverse industries due to its superior solvent and fragrance properties.
According to a recent research report published by Future Market Insights, the propyl acetate market is expected to experience a CAGR of 6.9% during the forecast period of 2022-2029.
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Several end-use industries prefer propyl acetate over ethyl acetate due to its cost effectiveness and excellent solvent properties. This is prompting manufacturers to lay more emphasis towards the production of propyl acetate as compared to ethyl acetate.
Key Takeaways of Propyl Acetate Market Study
Propyl Acetate Market: Competitive Landscape
The global propyl acetate market is moderately fragmented, due to the availability of raw materials required for the manufacturing of propyl acetate, especially at the regional level, and presence of local manufacturers in domestic as well as international markets. Key manufacturers such as Dow Chemical Company, BASF SE, OXEA GmbH, Eastman Chemical Company, and SHOWA DENKO K.K. account for around 28% of the overall market share. North America and East Asia are anticipated to account for a significant share of the global propyl acetate market, owing to significant growth in printing ink industry and increasing preference for propyl acetate over ethyl acetate.
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Propyl Acetate Market Taxonomy
The global propyl acetate market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Purity
Application
End Use
Region
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The research report analyzes the total sales of propyl acetates on the basis of volume (tons) and value (US$ Mn). The report contains a competition analysis section that includes market structure analysis, tier structure analysis, competition development, and other crucial information about global and regional players in the propyl acetate market. Opportunities in the market are projected on the basis of factors such as printing ink industry growth, food industry outlook, pharmaceutical industry overview, and expansion in production capacity by manufacturers around the world.
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 Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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