2-Ethylhexyl Acetate with Purity > 99% Stays in Demand
In line with the growing demand for high-quality products as well as stringent policy framework, 2-ethylhexyl acetate with purity greater than 99% is likely to witness increasing market share through 2029. While the high-purity chemical continues to capture over 3/4 share of total demand, consumption of 2-ethylhexyl acetate with purity less than 99% across various industries will remain steady during the opportune time. Further, the sales of higher purity 2-ethylhexyl acetate are expected to grow 3.5X against its lower purity counterpart.
East Asia to Outperform North America in Global Landscape
Growth potential of the 2-ethylhexyl acetate market remains worthwhile in North America and East Asia, due to the strong presence of chemical manufacturers and suppliers in these regions. While both the regional markets are neck-and-neck with each other in terms of revenue generation, the 2-ethylhexyl acetate market in East Asia will outpace that in North America by 2019 end. This growth trend is primarily attributed to the booming chemicals as well as paints & coatings industries in countries such as China, Japan, and South Korea.
Price Volatility to Shape Future Growth
2-ethylhexyl acetate is produced from the by-products of crude oil refineries. Volatilities in crude oil prices are resulting in fluctuations in the prices of petroleum-based hydrocarbon solvents such as 2-ethylhexyl acetate, thereby adversely affecting the profit margins of manufacturers. Hike in the prices of petrochemical feedstock, thus, is expected to impede the worldwide production of 2-ethylhexyl acetate in the coming years.
How Growth will Unfold
Rise in construction and renovation projects have elevated the demand for paints & coatings for both, protection as well as decorative purposes. This, in turn, is boosting the prominence of the 2-ethylhexyl acetate market in the paints & coatings industry, owing to its high miscibility quotient. Given the immense utilization of 2-ethylhexyl acetate in automotive refinish coatings, the automotive & aerospace sector is also attracting huge investments from chemical manufacturers.
Furthermore, the adoption of the organic chemical compounds in both the end-use industries will register revenue of around US$ 200 Mn by 2029 end.
FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL 2-ETHYLHEXYL ACETATE MARKET
How will be the 2-ethylhexyl acetate market fare in the future?
2-ethylhexyl acetate is estimated to witness rise in demand as an industrial solvent in the paints & coatings industry. It is a preferred alternative to conventional solvents such as chlorinated solvents due to its lesser VOC content. However, the changing regulatory scenario and development of alternative solutions might hamper the growth of the global 2-ethylhexyl acetate market.
Will increasing popularity of waterborne or high-solid coatings affect the future trajectory of the 2-ethylhexyl acetate market?
Yes, the increasing popularity of waterborne and high-solid coatings over solvent-borne coatings, owing to their eco-friendly nature, might hinder market growth. However, sales of solvent-borne coatings will remain significantly influenced by lower price range, which will have a positive impact on the 2-ethylhexyl acetate market.
Which end-use area holds potential growth opportunities for market players?
The paints & coatings industry is estimated to be a prominent end-use application industry for 2-ethylhexyl acetate, owing to the increasing consumption of paints and coatings for both, decorative as well as protection purposes.
What is the degree of competition in the 2-ethylhexyl acetate market?
The 2-ethylhexyl acetate market is significantly consolidated, with prominent market players accounting for high market share. In the current scenario, industry leaders such as BASF SE, Eastman Chemical Company, and Polynt SpA are estimated to account for more than 1/3 of the market share.
Which region will lead the global sales of 2-ethylhexyl acetate?
East Asia, North America, and Europe are estimated to account for more than 65% of the market share. However, regions such as East Asia and South Asia are expected to witness significant growth in the 2-ethylhexyl acetate market, owing to the growing paints & coatings industry.
2-ETHYLHEXYL ACETATE MARKET TAXONOMY
The global 2-ethylhexyl acetate market is categorized in detail to cover every single aspect of the market and deliver complete market intelligence to the reader.
Purity
- Purity ≥ 99%
- Purity < 99%
Application
- Industrial Solvents
- Performance Chemicals
End Use
- Automotive & Aerospace
- Paints & Coatings
- Leather Industry
- Cleaners & Paint Striping Systems
- Others
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
- Emerging Countries
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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