n-Propyl acetate is a clear, colorless liquid with a fruity odor. It is commonly used as a solvent in various industrial applications, such as coatings, paints, inks, and adhesives. Its solvency properties make it useful in these applications as it can dissolve many organic compounds. Additionally, it evaporates quickly, which aids in the drying process of coatings and paints.
The global n-Propyl Acetate Market is anticipated to reach a value of US$ 706.3 Million by the end of 2032, as per Future Market Insights (FMI). Demand in the market is predicted to rise at a CAGR of 5.4% owing to consistent growth among diverse industries such as printing, pharmaceutical, and food & beverages. Owing to the characteristic fits of n-propyl acetate as a solvent or chemical intermediate in different processes is bolstering the sales.
Prominent players are investing in emerging countries from Latin America and South Asia to get an efficient and rapid supply chain advantage over their competitors. Several players are also focusing to develop long-term relationships with their customers for an uninterrupted supply of n-propyl acetate. Meanwhile, other suppliers are focusing on collaborating with e-commerce giants to increase the sales and expand their customer base.
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Further, as n-propyl acetate has pleasant odour, it can be used in perfumes and food industry. Also, rising application in printing ink and pharmaceutical industry will improve the sales in the market. On the back of this, the demand in the market is predicted to reach US$ 418.6 Million by the end of 2022.
“Growing consumption of n-propyl acetate coupled with its increasing adoption as a potential replacement for ethyl acetate in different industries such as pharmaceutical and food is expected to bolster the demand during the projected period,” says an FMI analyst.
Key Takeaways:
- The global market of n-propyl acetate is projected to witness a CAGR of magnitude 4% during the period of 2022 and 2032.
- Significant development in the end-use industries – chemical, pharmaceuticals, paints & coatings, and food & beverages in the Asia-Pacific region is anticipated to remain one of the prominent markets for n-propyl acetate in the forecast period.
- By Grade type, pharmaceutical/food grade (>99%) is expected to account for the largest share, about 75% of the overall market size.
- By Application, the consumption of n-propyl acetate as a solvent is expected to grow at a CAGR of 3% over the forecast period.
- By End-Use, the printing ink industry is expected to remain a key consumer of n-propyl acetate, the segment is further anticipated to witness a consumption rate of about 1% n-propyl acetate in terms of value.
Competitive Landscape
The market of n-propyl acetate is estimated to be a consolidated market, where key players are expected to account for more than 46% share of the market. OQ Chemicals GmbH, Solvay, BASF SE, Sasol, DOW chemicals, Eastman Chemical company, SHOWA DENKO K.K., Jiangsu Baichuan High-tech New Materials Co., Ltd., shiny chemical Industries Co. Ltd, Solventis, and many others are the some of the manufacturers of n-propyl acetate profiled in the full version of the report.
Key players are certainly focusing on expanding their production capacity to increase their market presence all over the globe and to gain maximum traction in the market. Further top players are also investing significantly in acquisitions of regional players to reduce competition and gain capacity advantage.
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More Insights into the N-propyl acetate Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the global n-propyl acetate market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on grade, application, end-use industries, and region.
N-propyl acetate Market Segmentation
By Grade:
- Industrial/Technical Grade (<99%)
- Pharmaceutical/Food Grade (>99%)
By Application:
- Solvent
- Flavouring Agent
- Others
By End-Use Industry:
- Chemical
- Pharmaceutical
- Paint & Coatings
- Printing Ink
- Food & Beverages
- Agrochemical
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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