Propyl Acetate Market Revenue to Reach Nearly US$ 800 Mn in 2029
Conventional solvents such as ethyl acetate exhibit rapid evaporation and require retardants to control their evaporation rate. This has influenced end users to move to propyl acetate as a suitable chemical compound in various industrial solvent and other industrial applications, globally. Growing at a robust pace, the worldwide sales of propyl acetate are anticipated to peg around US$ 800 Mn by 2029 end. As suggested by this new report, the global propyl acetate market will witness high demand growth during 2024-2026.
Frequently Asked Questions about Global Propyl Acetate Market
How will the propyl acetate market grow in the future?
The global propyl acetate market will continue to grow at a significant rate, as the preference for propyl acetate is increasing over ethyl acetate, owing to its superior solvent properties such as less ink, scrap, and solvent consumption, comparatively high image quality, improved printing speed, reduced moisture absorption, etc. Manufacturers of printing inks, food additives, and personal care products are shifting towards the adoption of propyl acetate, which is estimated to drive its market growth in the near future.
Will the rebounding of crude oil prices affect the future trajectory of the propyl acetate market?
Yes, as crude oil is the most significant feedstock for manufacturing propyl acetate. Rebounding prices of crude oil by government authorities and regimes is a major challenge or restraint for propyl acetate market growth.
Which application area holds potential growth opportunities for market players?
While the printing ink industry continues to influence growth strategies, as it holds a major share in the propyl acetate market, growing demand for propyl acetate in the food industry as a flavoring agent will result in increased market share.
What is the degree of competition in the propyl acetate market?
The global propyl acetate market has a perfect competition structure, with a good number of regional and local market players. In the current scenario, industry leaders such as BASF SE, Dow Chemical Company, OXEA GmbH, and Eastman Chemical Company collectively hold around one-fourth of the total revenue share.
Which region will lead the global sales of propyl acetate?
North America remains in the vanguard of the propyl acetate market, with rapid expansion of end-use industries of propyl acetate. Moreover, end users of propyl acetate in printing ink, paint and coating, packaging ink, and other industries are engaging in expansions, collaborations, and key strategic developments to increase their production capacities in this region.
Coating & Printing Ink Remains Key Application Area
Propyl acetate manufacturers continue to view coating & printing ink as a target application area, where the chemical is primarily used for screen printing and flexographic inks. Moreover, high solvency, mild odor, and thinnable nature of propyl acetate are boosting its adoption in coating & printing ink purposes. Application of propyl acetate in personal care products and food flavorings is growing at a robust rate of over 7%, and, as such, market players are also focusing on these application categories.
Propyl Acetate Market in East Asia to Outpace Developed Regional Markets
In the current scenario, most of the revenue of propyl acetate comes from North America and Europe, with both these developed regional markets accounting for around half of the total demand. However, there are strong indications that the propyl acetate market in East Asia will outperform these developed regions in the coming years. Strong establishment of industries such as chemicals, printing ink, and food & beverages, especially in China, are shaping market growth in developing region. Moreover, on similar grounds, the demand for propyl acetate in South Asia is also expected to climb rapidly.
Focusing on Food & Beverage Industry for New Growth Potential
Driven by the optimum fragrance properties of propyl acetate, food & beverage producers are increasingly including this chemical in their offerings as a flavoring agent. In addition, propyl acetate has been granted approval by agencies such as the Food and Drug Administration (FDA) as a food additive for direct human consumption. Players operating in the propyl acetate market must drive their attention to the food & beverage sector to leverage the growth potential.
Propyl acetate with purity ? 99% takes the lead
Propyl acetate with purity < 99% to see healthy demand growth
High adoption in coatings & printing inks
Increasing application in personal care products
Surging demand from chemicals industry
Demand from pharmaceuticals sector on rise
How Growth will Unfold
The chemicals industry continues to be a prominent consumer of propyl acetate, where the chemical compound is used as an intermediate to manufacture natural and synthetic resins. By 2029, propyl acetate worth around US$ 500 Mn will be consumed by the chemicals industry. While the end-use category accounts for nearly 3/4 of worldwide adoption, manufacturers are exploring growth avenues in the pharmaceuticals and food & beverage sectors. Further, this report reveals fast-paced adoption of propyl acetate in both these end-use industries during the forecast period.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Propyl Acetate Market Analysis 2019-2029
A recent market study published by FMI on the propyl acetate market includes global industry analysis for 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of the propyl acetate market, the growth prospects of the market are obtained with maximum precision.
Propyl Acetate Market Taxonomy
The global propyl acetate market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Purity ≥ 99%
- Purity < 99%
- Coatings & Printing Inks
- Chemical Intermediates
- Food Flavourings
- Personal Care Products
- Food & Beverages
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report starts with the executive summary of the propyl acetate market, which includes a summary of the key findings and statistics. It also includes the demand & supply-side trends pertaining to the propyl acetate market.
Readers can find the definition and a detailed taxonomy of the propyl acetate market in this chapter, which will help them understand basic information about the propyl acetate market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the propyl acetate market report.
The propyl acetate market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are also provided in this section.
This section includes factors that have emerged as key success factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the propyl acetate market in the period 2019-2029. This chapter includes a detailed analysis of the historical propyl acetate market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year, and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the propyl acetate market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the propyl acetate market.
This chapter explains key macro-economic factors that are expected to influence the growth of the propyl acetate market over the forecast period. Along with macroeconomic factors, this section also highlights the value chain, forecast factors, and growth outlook for the propyl acetate market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the section.
Based on Purity, the propyl acetate market is segmented into Purity ≥ 99%, and Purity < 99%, and pharmaceutical Purity. In this chapter, readers can find information about key trends and developments in the propyl acetate market and market attractiveness analysis based on Purity.
Based on application, the propyl acetate market is segmented into coatings & printing inks, chemical intermediates, food flavourings, personal care products, and others. In this chapter, readers can find information about key trends and developments in the propyl acetate market and market attractiveness analysis based on application.
This chapter provides details about the propyl acetate market based on end use, and has been classified into chemicals, pharmaceutical, food & beverages, and others. In this chapter, readers can understand the market attractiveness analysis based on end use.
This chapter explains how the propyl acetate market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa, and Emerging Countries.
This chapter includes a detailed analysis of the growth of the North America propyl acetate market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on segments and countries in North America.
This chapter provides the growth scenario of the propyl acetate market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, the assessment of the market across target segments has been provided.
Important growth prospects of the propyl acetate market in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the Rest of Europe, are included in this chapter.
In this chapter, India, Indonesia, Thailand, Malaysia, and Rest of South Asia are the prime subjects of assessment to obtain the growth prospects of the South Asia propyl acetate market. Readers can find detailed information about the growth parameters of the South Asia propyl acetate market during the forecast period of 2019-2029.
This chapter highlights the growth of the propyl acetate market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand key factors that are responsible for the growth of the propyl acetate market in East Asia.
This chapter highlights the growth of the propyl acetate market in the Middle East by focusing on GCC Countries, Northern Africa, South Africa, Turkey, and Rest of Middle East & Africa. This section also helps readers understand key factors that are responsible for the growth of the propyl acetate market in Middle East & Africa.
This chapter provides information about how the propyl acetate market will grow in major countries in the Oceania region such as Australia, and New Zealand during the forecast period of 2019-2029.
This section highlights the growth prospects of the propyl acetate market for emerging markets such as India, Mexico, and China.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the propyl acetate market, along with their market presence analysis by region and product portfolio.
Some of the market players featured in the report are Dow Chemical Company, BASF SE, Eastman Chemical Company, Sasol, Solvay, OXEA GmbH, and others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the propyl acetate market report.
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the propyl acetate market.
How the research was conducted?
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- Yesteryear trends
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