Future Market Insights (FMI) has forecast the 2-EthylHexyl acetate market to grow with a year-on-year growth of 4.5% in 2022 reaching a value of about US$ 8.5 Million by 2022 end. The global sales are anticipated to witness a considerable CAGR of 4.6% during the period of 2022 and 2029.
High boiling point and good solvent power of 2-ethylhexyl acetate market size it a popular solvent in the formulation of paints and coatings. Through continuous exploration of its properties, 2-ethylhexyl acetate is finding application in spray coatings and dip-coating technologies. Thus, the rising demand for paints & coatings, globally, is anticipated to fuel the demand for 2-ethylhexyl acetate.
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Key Takeaways of 2-Ethylhexyl Acetate Market Study
- Purity ≥ 99% is observed to be the most preferred grade type in the market, owing to increasing demand for high-quality products and tightening regulatory scenarios.
- 2-ethylhexyl acetate is used as a brightener in leather processing and as an additive in fragrance formulation. Increasing consumption of cosmetic & personal care products is estimated to drive the demand for 2-ethylhexyl acetate as a performance chemical. However, the slow growth of the leather industry can have a negative impact on the market.
- 2-ethylhexyl acetate is also used as a solvent in printing and screen inks. The demand for 2-ethylhexyl acetate is expected to rise, owing to increased consumption of printing inks in the packaging industry.
- Emerging economies such as India, China, and Mexico are estimated to witness lucrative growth. The positive outlook for the automotive industry and the growth of the paints & coatings industry are major factors offering growth opportunities for the 2-ethylhexyl acetate market in these countries.
“2-ethylhexyl acetate is effectively being used as an alternative to conventional solvents, which have relatively higher levels of volatile organic components (VOCs). Increasing regulations regarding VOC components will propel the demand for 2-ethylhexyl acetate in the foreseeable future.”
2-Ethylhexyl Acetate Market: Competition Analysis
The global 2-ethylhexyl acetate market is significantly consolidated, with only a few leading market participants accounting for a high market share. The adoption of integrated business models for controlling the procurement of raw materials and supply chain networks is one of the key strategies adopted by leading market players. Continuous product & technological innovation and the development of customized solutions are a few of the key trends being observed in the market.
Some of the key players are
- BASF SE
- Eastman Chemical Company
- Chemoxy International Ltd.
- Polynt SpA
- Changzhou Xiaqing Technological Co., Ltd.
- Vijay Ajmera Group
How will the market shape up?
Rapid industrialization across the globe and growing consumption of paints & coatings for both, decorative and protection purposes, will drive the demand for 2-ethyl hexyl acetate as an industrial solvent. Apart from this, 2-ethylhexyl acetate is also estimated to witness a rise in demand as an additive in cleaners and fragrance formulations. Shifting trends towards the adoption of water-borne coatings or high-solid coatings might hamper market growth in the foreseeable future.
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What does the report offer?
The recent market study published by Future Market Insights offers a conclusive analysis of the global 2-ethylhexyl acetate market and delivers noteworthy insights through organized market research. The report offers an in-depth market analysis of historical performance from 2014 to 2018 and an opportunity assessment for 2022–2029. The market study provides comprehensive insights on different aspects of the 2-ethylhexyl acetate market based on purity, application, and end use, across the targeted seven regions.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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