(MENAFN- GlobeNewsWire - Nasdaq) The Global Iso-Butyl Acetate market Size was Valued at USD 3.90 Billion in 2023 and the Worldwide Iso-Butyl Acetate Market Size is Expected to Reach USD 6.86 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Eastman, Zhejiang Jianye Chemical Co., Ltd., Sahastraa Exports Pvt Ltd., Dow Chemical Company, Celanese Corporation, BASF, OXEA Chemicals, Comet Chemicals Company, Novasol Chemicals, NIPPON Paints, RPM Inc., AXALTA, and other key vendors.
New York, United States, July 17, 2024 (GLOBE NEWSWIRE) -- The Global Iso-Butyl Acetate Market Size is Expected to Grow from USD 3.90 Billion in 2023 to USD 6.86 Billion by 2033, at a CAGR of 5.81% during the forecast period 2023-2033.
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Iso-butyl acetate is an inorganic chemical with the formula C6H12O2. It belongs to the ester class of chemicals, specifically acetate esters. It is made up of an iso-butyl group (a branched-chain alkyl produced from butane) and an acetate group (CH3COO). Iso-butyl acetate is widely used as a solvent in many sectors, including paints, coatings, and adhesives. Demand from industries such as coatings, adhesives, and medicines is critical, impacted by economic growth and technological advancements in manufacturing. Raw material availability and costs, together with competitive pressures and global trade policies, all have an impact on market patterns. Iso-butyl acetate is also preferred over other solvents in consumer items like paints and coatings because of its low toxicity and appealing fruity odor. However, the iso-butyl acetate market has several obstacles that might impede its expansion. Fluctuating raw material prices, severe environmental regulations, competition from alternative solvents, economic cycles affecting demand, and technology improvements influencing usage patterns all play significant roles.
Browse key industry insights spread across 210 pages with 115 market data tables and figures & charts from the report on the " Global Iso-Butyl Acetate Market Size, Share, and COVID-19 Impact Analysis, By Grade (98% Purity, 99% Purity), By Application (Paints & Coatings, Personal Care & Cosmetics, Pharmaceuticals, Adhesives, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The 99% purity segment is predicted to hold the largest market share through the forecast period.
Based on the grade, the iso-butyl acetate market is classified into 98% purity and 99% purity. Among these, the 99% purity segment is predicted to hold the largest market share through the forecast period. This market is characterized by strict quality standards across a wide range of applications, including coatings, adhesives, and paints, where purity has a direct impact on performance and consistency. Manufacturers and customers alike prefer the 99% purity sector for its higher quality and reliability, proving market leadership despite potential cost implications compared to lower purity alternatives.
The paints & coatings segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the iso-butyl acetate market is divided into paints & coatings, personal care & cosmetics, pharmaceuticals, adhesives, and others. Among these, the paints & coatings segment is anticipated to hold the highest market share during the projected timeframe. The paints and purity category is ascribed to its features, including strong solvency power, low volatility, and compatibility with different types of resins and polymers, make it a great choice for improving the performance and application characteristics of coatings.
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Asia Pacific is estimated to hold the largest share of the iso-butyl acetate market over the forecast period .
Asia Pacific is estimated to hold the largest share of the iso-butyl acetate market over the forecast period. The Asia Pacific region is the most dominating market for isobutyl acetate, owing to rising output in China and India's adhesives, paints, and coatings sectors. Furthermore, government measures to stimulate the production of chemical products are major drivers of market growth in this region. Rapid urbanization, infrastructural expansion, and increased automobile production drive up demand for paints and coatings, which are key users of isobutyl acetate.
North America is predicted to have the highest CAGR growth in the iso-butyl acetate market over the forecast period. Strong economic conditions and ongoing infrastructure projects in North America have increased demand for iso-butyl acetate in industries including paints, coatings, adhesives, and pharmaceuticals. Furthermore, technological advances and innovation in solvent applications are increasing the usage of iso-butyl acetate in several industrial processes.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the iso-butyl acetate market include Eastman, Zhejiang Jianye Chemical Co., Ltd., Sahastraa Exports Pvt Ltd., Dow Chemical Company, Celanese Corporation, BASF, OXEA Chemicals, Comet Chemicals Company, Novasol Chemicals, NIPPON Paints, RPM Inc., AXALTA, and Others.
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Recent Developments
In April 2024 , Eastman Chemical Company announced a price increase of 0.06/lb (USD 0.13/kg) for isobutyl acetate ester across North and Latin America.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the iso-butyl acetate market based on the below-mentioned segments:
Global Iso-Butyl Acetate Market, By Offer Grade
Global Iso-Butyl Acetate Market, By Application
Paints & Coatings Personal Care & Cosmetics Pharmaceuticals Adhesives Others
Global Iso-Butyl Acetate Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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