Propyl acetate market continues to witness demand upsurge from printing ink and coating industries among others
LONDON, UK and DUBAI, UAE / ACCESSWIRE / February 6, 2020 / Future Market Insights: Exhibiting superior solvent and fragrant properties such as increased viscosity stability, reduced moisture absorption, and greater image quality, industrial end users are increasingly shifting towards propyl acetate as a solvent in various applications. As these trends sweep across a host of industries, the global propyl acetate market is anticipated to grow at a CAGR of nearly 7% through 2029, as suggested by a recent study of Future Market Insights. In terms of value, global sales are set to cross USD 500 Mn in 2023, with potential opportunities abound in pharmaceutical and food & beverage sectors.
"The propyl acetate market will follow a robust growth trail owing to increasing shift towards cost-effective solvents. Manufacturers are highly focused on the production of high-grade propyl acetate, to ensure improved performance of end-use products. However, concerns regarding volatility in crude oil prices and rising anti-dumping measures are having moderate impact on market growth," opines Future Market Insights.
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Key Findings of the Propyl Acetate Market Study
- High purity (i.e. +99%) propyl acetate is the dominant segment, as manufacturers from several end-use industries of propyl acetate prefer high purity (i.e. +99%) to ensure improved performance of end-products.
- Propyl acetate is a prominent solvent in the coating & printing inks, particularly in flexographic and screen printing inks owing to less ink, scrap, and solvent consumption.
- Given its ability to thin numerous organic compounds, the chemical industry will remain the key revenue generator for the global propyl acetate market.
- Leading players are focusing on product expansion by establishing new manufacturing units as well as entering into strategic partnerships with local suppliers.
- Rising application in insecticide formulation, waxes, adhesives, and several other products are likely to boost the propyl acetate market growth.
Explore 280 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence propyl acetate market by Purity: +99% and <99%; Application: Coating & Printing Inks, Chemical Intermediates, Food Flavorings, Personal Care Products, and Others; End-use: Chemical, Pharmaceutical, Food & Beverage, and Others, 2019-2029 at
Propyl Acetate Market: Key Drivers
- Increasing demand for gravure ink for food packaging materials as consumers are increasingly shifting towards packaged food products.
- Various industries substituting ethyls with propyls as the latter eliminates the need for retardants while preparing base ink.
- Upswing in adoption of propyl acetate in the cosmetic industry due to its excellent fragrance properties
- Suring promotional strategies by market players significantly impact the use of propyl acetate in various industries across the globe.
Propyl Acetate Market: Key Impediments
- Rise in anti-dumping measures in some regions which are likely to negatively impact the usage of alkyl acetates.
- Rebounding prices of crude oil by government authorities and regimes are creating challenges for manufacturers.
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Competition Landscape
As per Future Market Insights, the global propyl acetate market is moderately fragmented on grounds of abundance of raw materials required for manufacturing propyl acetate, particularly at the regional level, and strong presence of local manufacturers in domestic as well as international markets. Leading manufacturers including Dow Chemical Company, BASF SE, OXEA GmbH, Eastman Chemical Company, and SHOWA DENKO K.K. account for about a third of the overall market revenues. Furthermore, market players in the propyl acetate market are laying greater emphasis on increasing investments in research and development activities for improvement of product portfolios in a bid to broaden their product portfolio.
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About the Report
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.
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SOURCE: Future Market Insights