The use of butyl acetate in the production of paints & coatings is increasing as it offers waterproof coatings as well as acts as a solvent for the preparation of paints and coatings. This has driven its demand in the construction industry, attributing to the wide application of paints and coatings.
The global butyl acetate market has been segmented on the basis of application, end-use industry, and region.
By application, the global butyl acetate market has been classified into paints & coatings, pharmaceutical, perfumes, flavors, printing inks, and others.
Paints and coatings are used in the packaging and automotive industries due to their unique properties such as good evaporation rate and excellent protection offered by it.
The rapid growth of the construction industry is also expected to fuel the growth of the global butyl acetate market.
On the basis of end-use industry, the global butyl acetate market has been divided into automotive & transportation, building & construction, healthcare, cosmetics, food & beverage, and electrical & electronics.
Among these, the building & construction industry held the largest share of the global butyl acetate market in 2017 and is expected to witness significant growth during the review period. The growth of the building & construction industry across the globe is boosting the demand for butyl acetate.
Furthermore, butyl acetate is used in spray paintings, lacquer coatings, glue manufacturing, and paint mixing, which contributes to its increasing use in the construction industry.
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Some of the major players operating in the global butyl acetate market are BASF SE (Germany), DowDuPont (US), Eastman Chemical Company (US), Celanese Corporation (US), INEOS (US), Yangtze River Acetyls (China), Mitsubishi Chemical Corporation (Japan), Sasol (South Africa), Alfa Aesar (US), Sipchem (Saudi Arabia), Industrias Monfel, SA (Mexico), Merck KGaA (Germany), and Kai Co., Ltd. (South Korea).
The global butyl acetate market has been analyzed across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia-Pacific market is expected to witness healthy growth during the review period, owing to the increasing construction activities and growth of the pharmaceutical industry.
North America is projected to have remarkable growth during the forecast period, owing to the increasing use of the product in the automotive, construction, and pharmaceuticals industries.
The European market for butyl acetate is expected to grow at a significant rate due to the growing use of the product in different applications, especially in automobiles.
While, the Latin American and the Middle East & African markets for butyl acetate are projected to witness moderate and sluggish growth, respectively, during the review period.