Future Market Insights (FMI) has forecast the 2-EthylHexyl acetate market to grow with a year on year growth of 4.5% in 2022 reaching a value of about USD 228.5 Million by 2022 end. The global sales is anticipated to witness a considerable CAGR of 4.6% during the period of 2022 and 2029.
| Report Attributes | Details |
|---|---|
| 2-EthylHexyl Acetate Market Size (2021A) | USD 218.6 Million |
| 2-EthylHexyl Acetate Sales (2022E) | USD 8.5 Million |
| Projected 2-EthylHexyl Acetate Market (2029F) | USD 312.2 Million |
| Value CAGR (2022 to 2029) | 4.6% |
| Collective Value Share: Top 3 Countries (2022E) | 42.9% |
2-Ethylhexyl acetate is widely used as a solvent in screen inks and printing inks. Over the years, printing inks have witnessed increase in demand from flexographic, sheet-fed, and screen printing applications mainly due to the increased demand from packaging industry. Growing consumption of screen & printing inks is estimated to propel the demand for 2-Ethylhexyl acetate. Considering this, FMI has forecasted the global 2-EthylHexyl acetate Market sales to reach a valuation of USD 783.6 Million in 2029.
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.4% |
| H1,2022 Projected (P) | 4.5% |
| H1,2022 Outlook (O) | 4.6% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 10 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 20 ↑ |
Future Market Insights presents a half yearly comparison and review analysis for market dynamics and industry trends of 2 ethyl hexyl acetate market. Chemical industrial growth and growth in automotive and transportation industry are creating new growth avenues for the market.
Increasing consumption of screen & printing inks and demand for paints and coatings in the automotive and aerospace industry are the key driving factors of 2 ethyl hexyl acetate market.
Furthermore, increasing demand for cleaners, cosmetics, and personal care products are also contributing to the growth of the market. Some of the key trends witnessed in the market include product development and innovation, expansion of production capacities & merger activities which are likely to influence the market growth.
The market of ethyl hexyl acetate is estimated to witness a CAGR of magnitude 4.6% during the second half of 2022, an increase of 10 bps as compare to the earlier projections for the same period.
Rising preference for 2 ethyl hexyl acetate in the printing ink industry and demand for paints & coatings from the automotive and aerospace industry is expected to create more opportunities in the forecast period. In addition to this, 2 ethyl hexyl acetate is expected to grow in popularity during the forecast period due to its lower toxicity than traditional solvents.
Despite these positive prospects, there are some likely challenges that stay ahead for the industry, which include rregulations in production and applications of chemicals, growing prices of these chemicals, supply constraints owing to Russia and Ukraine conflict and others.
Sales of 2-EthylHexyl acetate increased at a 4.6% CAGR, between 2014 and 2021, owing to the significant growth in the demand from the end users. Furthermore, outbreak of the COVID-19 pandemic, which reduced demand for 2-EthylHexyl acetate in 2020 and 2021, sales prospects were hampered, which also resulted in the low growth outlook as compare to forecast growth rate.
Rising preference for 2-EthylHexyl acetate in printing ink industry and demand of paints & coatings from automotive and aerospace industry continues to boost the market as it holds a key share in the consumption of 2-EthylHexyl acetate which is estimated to create immense opportunities for the manufacturers during the forecast period.
All industries have suffered and seen a decline as a result of Covid-19, but the market is expected to grow significantly in the forecast period due to increased consumption from end use industries, which is expected to boost demand for 2-ethylhexyl acetate. Furthermore, Lower price ranges, on the other hand, will continue to influence sales of solvent-borne coatings, which will benefit the 2-ethylhexyl acetate market.
2-Ethylhexyl acetate is expected to grow in popularity during the forecast period due to its lower toxicity than traditional solvents. Traditional solvents have higher levels of aromatic content and, as a result, have higher levels of volatile organic components (VOCs).
Aromatic content in 2-Ethylhexyl acetate, on the other hand, is extremely low. Because of the low aromatic content, the solvent is odourless, has a lower VOC content, and has a lower toxicity than traditional solvents. As a result, 2-ethylhexyl acetate is a safer alternative to traditional solvents like chlorinated solvents.
As per FMI, the USA is projected to witness more than 22% share in the global market of 2-ethylhexyl acetate. 2-EthylHexyl acetate consumption is expected to lead by North America throughout the forecast period, owing to increasing use from paints & coatings industries. USA is a one of the major country in terms of consumption of 2-EthylHexyl acetate in the global market.
Over the forecast period, the USA market for industrial solvents is expected to grow moderately. The flexibility of application across various industries such as building and construction, food and beverages, and personal care is expected to drive the growth of the USA market.
Furthermore, the demand for cleaners, cosmetics & personal care products, and printing inks is expected to grow at a significant rate. Growth of these industries is expected to significantly driving demand for 2-Ethylhexyl acetate in USA Owing to the higher demand for coatings and printing inks, USA is expected to create a valuation in the market of about USD 64.9 Million by the year 2029 .
Through 2029, the sales of 2-EthylHexyl acetate is predicted to rise at a significant pace and Germany is having a market share of 24.0% in the overall Europe market in 2022. Many market participants in the region are developing capacity development methods, improving market growth potential.
The German hydrocarbon solvents market is being driven by rising product consumption in rapidly growing industries such as printing inks, paints and coatings, and automobiles & transportation. In terms of volume, rising demand from the region's automotive and aerospace industries is a major factor driving market demand.
Thus, during the forecast period, the demand for hydrocarbon solvents is expected to be fueled by the growth of the European paints and coatings industry. Owing to the these factors 2-EthylHexyl acetate sales in Germany is estimated to reach about USD 15.8 Million by the year 2029.
The East Asia market is a key market that accounts for a major share in the global 2-Ethylhexyl acetate market. China’s market of 2-EthylHexyl acetate is projected to grow with a growth rate of 5.8% during the period of 2022 and 2029.
Increasing demand for printing inks, growth of automotive industry, and increasing consumption of cosmetics and personal care products in China, are key factors that are expected to drive growth of the 2-Ethylhexyl acetate market over the forecast period. In the global paints and coatings market, China is the largest market in East Asia, are also the fastest growing coating markets in the world.
The industrial solvent segment is expected to grow at a prominent value of 4.6% CAGR, over the forecast period of 2022 to 2029. Industrial solvent accounts for 76.1 percent of the 2-ethylhexyl acetate market in 2022, as it is used as an industrial solvent in the paints and coatings industry, which is expected to grow during the forecast period.
It is a preferred alternative to traditional solvents such as chlorinated solvents due to its lower VOC content. 2-ethylheyxl acetate is widely used as a dyeing and finishing solvent in the leather industry, where it aids in film formation and flow.
By application, automotive & aerospace segment is projected to reach an estimated value of USD 113.3 Million by the end of 2029. 2-Ethylhexyl acetate is used as a solvent in the paints & coatings industry. Paints & coatings have witnessed increased demand from automotive & transportation industry. Paints & coatings are crucial in automotive OEMs as well as aftermarket. Thus, increase in automotive production is estimated to be an important parameter, driving the growth of 2-Ethylhexyl acetate market.
Rapid industrial growth, especially in emerging economies, has elevated the demand for industrial coatings. Special purpose paints & coatings are also gaining popularity in developed as well as developing regions.
Over the past few years, a shift of manufacturers and their focus towards emerging regions has been witnessed to meet the increasing demand of monopropylene glycol. Several key players are also focusing on expanding their production capacities, launching of innovative products, and focusing on mergers & acquisition.
For Instance,
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America, Latin America, Europe, Middle East and Africa (MEA), East Asia, South Asia and Oceania. |
| Key Countries Covered | USA,Canada,Brazil ,Mexico, Rest of LA, Germany, Italy, France, UK, Spain, BENELUX, Russia, Rest of Europe, India, ASEAN,China, South Korea, Japan, GCC Countries,Northern Africa, Turkey, South Africa, Rest of MEA. |
| Key Segments Covered | Purity, Application, End Use Industry, and Region |
| Key Companies Profiled | BASF SE; Eastman Chemical Company; Chemoxy International Ltd.; Polynt SpA; Changzhou Xiaqing Technological Co., Ltd.; Vijay Ajmera Group |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The globalmarket of 2-EthylHexyl acetate is expected to total USD 228.5 Million in 2022.
The 2-EthylHexyl acetate sales has been estimated to exhibit growth rate of 4.6% between 2022 and 2029 on value basis.
By Application, Industrial Solvent is expected to contribute significant growth share to the overall market in 2022. The segment is expected to account for about 76.1% of the global consumption of 2-Ethylhexyl Acetate.
BASF SE, Eastman Chemical Company, Chemoxy International Ltd, Polynt SpA , Changzhou Xiaqing Technological Co., Ltd. and others are the key market players. Further the key platers have been estimated to account for about 60% of the global market share.
The demand in China is expected to increase by 5.8% CAGR between 2022 and 2029 on value basis.
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2-EthylHexyl Acetate Market
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