Expert Market Research’s new report titled ‘Global Methyl Acetate Market Price, Trends, Growth, Analysis, Outlook, Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Methyl Acetate Market Methyl, assessing the market on the basis of its segments like end-use and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 10%
Methyl acetate finds many uses in various industries. It is used in a variety of industries due to its outstanding properties such as higher evaporation rate, superior solvent activity, easy biodegradability and low odor. Due to these characteristics, methyl acetate has the ability to replace industrial solvents as an ingredient in paints and coating solutions. As the building, automotive, and aerospace industries grow, so does the demand for methyl acetate-based paint and coating solutions. Various government regulations in developed regions requiring the use of low VOC solvents are pushing coating and paint manufacturers to use biocompatible solvents such as methyl acetate in coating formulations, further propelling the growth of the demand in the industry.
Industry definition and major segments
Methyl acetate refers to a carboxylate ester with the formula CH3COOCH3. It is also known as MeOAc, acetic acid methyl ester or methyl ethanoate. It is a flammable liquid with a pleasant smell reminiscent of certain glues and nail polish removers.
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Depending on the end use, the industry can be divided into:
• Paints and coatings
• Personal care industry
Regional industries can be categorized as follows:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increasing use of methyl acetate as a solvent in paints, along with its use in nail polish removers and glues for various chemical extractions and reactions, is expected to drive the market growth in the coming years. Rapid technological developments in the chemical industry have also resulted in the sale of this product mainly in the developed regions, which has helped in the growth of the market. Rising automotive production and manufacturing activities around the world will further drive the demand for methyl acetate from the paints and coatings industry.
Main market players
The major players in the market are Celanese Corp. (NYSE: CE), China Petrochemical Corp., Eastman Chemical Co. (NYSE: EMN) and Wacker Chemie AG, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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