Growing in renovation and construction projects have exalted the paints & coatings demand, decorative in addition to protection purposes. This, consecutively, is improving the importance of the 2-ethylhexyl acetate market in the paints & coatings sector, due to its high miscibility quotient.
The 2-EthylHexyl Acetate Market is estimated to expand at a CAGR of 4.6% throughout the assessment period, 2022-2029.
“2-ethylhexyl acetate is efficiently being utilized as an alternative to conventional solvents that has comparatively more prominent levels of volatile organic components (VOCs). Growing regulations concerning VOC components will push the 2-ethylhexyl acetate demand in the coming years.” – FMI analyst.
2-Ethylhexyl Acetate Market- Critical Takeaways
- ≥99% purity 2-Ethylhexyl Acetate acetate will continue to be a majorly preferred grade in the worldwide market, due to stricter regulations.
- Paint & coating applications are likely to hold the majority of market share, with the notable drive coming from the aerospace and automotive sectors.
- Growing economies such as India and China are slated to display prominent remunerative prospects for producers.
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2-Ethylhexyl Acetate Market- Drivers
- An increase in construction and renovation projects and the resultant need for protective coatings is a prominent driver for global demand.
- Stricter environment and health regulations being set on the global chemicals sector are boosting the acceptance of 2-Ethylhexyl Acetate acetate.
- Increased uptake of printing inks in the packaging sector generating profitable sales prospects.
2-Ethylhexyl Acetate Market- Restraints
- Fluctuation regulatory scenario and growing alternative solutions may hinder market growth.
- The growing popularity of high-solid and waterborne coatings over solvent-borne coatings, due to their environmental-friendly nature, may impact market growth.
COVID-19 Impact on 2-Ethylhexyl Acetate Market
The COVID-19 pandemic has notably impacted the production of 2-Ethylhexyl Acetate acetate in the global market due to supply chain disruptions, factory shutdowns, and unpredictability and fluctuations in prices of raw material supplies. Furthermore, manufacturing plants are worker-dense as the majority of the operations cannot be carried out remotely. To address the social distancing concerns, amid the crisis, manufacturers are ascertaining and executing a safe distance amid workers through staggered shifts.
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Competitive Landscape
Prominent companies identified in the 2-Ethylhexyl Acetate acetate market are BASF SE, Chemoxy International Ltd., Eastman Chemical Company, and Polynt SpA, among others. The global market is notably consolidated with a handful of leading companies attaining higher market shares. Leading companies stay focused on augmenting supply chains for acquiring raw materials within the sector. Companies are also aiming technological and product innovations, along with customized product launches to fortify their base in the global 2-Ethylhexyl Acetate acetate market.
2-EthylHexyl Acetate Market Market By Category
By Purity :
- Purity ≥ 99%
- Purity < 99%
By Application :
- Industrial Solvents
- Performance Chemicals
By End Use Industry :
- Automotive & aerospace
- Paints & Coatings
- Leather Industry
- Cleaners & Paint Stripping System
- Others
By Region :
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
Related Links:
https://vocal.media/stories/immunohistochemistry-market-size-share-demand-growth-and-trends-by-2032
https://trendingrelease.blogspot.com/2023/03/immunohistochemistry-market-size-share.html
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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