IMARC Group, a leading market research company, has recently releases report titled “Methyl Acetate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global methyl acetate market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the methyl acetate market?

The global methyl acetate market size reached US$ 195.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 388.5 Million by 2032, exhibiting a growth rate (CAGR) of 7.9% during 2024-2032.

Factors Affecting the Growth of the Methyl Acetate Industry:

• Increasing Demand in Coating Applications:

Methyl acetate plays a crucial role as a solvent in coating applications, including paints, adhesives, and coatings. Furthermore, the increasing investment in infrastructure projects, such as the construction of roads, bridges, and buildings, leading to a heightened demand for coatings to protect these structures from corrosion, weathering, and wear, is boosting the market growth. Beyond this, the industrial sector relies heavily on coatings to safeguard machinery, equipment, and infrastructure, further driving the demand for methyl acetate. Additionally, the widespread product application in the automotive industry for vehicle manufacturing is catalyzing the market growth. Moreover, the changing consumer preferences towards more durable and aesthetically appealing finishes are supporting the market growth. Furthermore, recent advancements in coating technologies, such as the development of high-performance coatings with enhanced properties, are acting as another growth-inducing factor.

• Shift Towards Eco-friendly Solvents:

The increasing environmental concerns and stringent regulations on volatile organic compounds (VOCs), leading to a shift towards eco-friendly solvents, are favoring the market growth. In line with this, methyl acetate stands out as an environmentally benign alternative due to its biodegradability, low toxicity, and minimal environmental impact. Furthermore, the ongoing shift towards environmentally friendly solvents in industries such as paints, coatings, and adhesives is strengthening the market growth. Additionally, manufacturers are actively seeking solvents that meet sustainability criteria without compromising performance, making methyl acetate an attractive choice. Beyond this, consumers are becoming more conscious of the environmental footprint of products they use, prompting businesses to incorporate eco-friendly practices throughout their supply chains, including solvent selection.

• Expanding Automotive Sector:

The automotive industry is embracing methyl acetate due to its widespread use in coating applications for vehicles. Additionally, the rising global population and increasing urbanization, leading to a growing demand for automobiles, ranging from passenger cars to commercial vehicles, is favoring the market growth. This surge in automotive production translates to higher consumption of coatings for vehicle bodies, interiors, and components, where methyl acetate serves as a key solvent. Moreover, automotive manufacturers are focusing on meeting stringent performance, durability, and aesthetic standards, leading to the rising demand for advanced coatings. In line with this, methyl acetate offers desirable characteristics such as excellent solvency, fast drying times, and low odor, making it a preferred solvent in automotive coatings.

Request for a sample copy of this report: https://www.imarcgroup.com/methyl-acetate-market/requestsample

Methyl Acetate Market Report Segmentation:

Market Breakup by Purity:

• Purity Less Than 99.5%
• 99.5% Purity
• 99.9% Purity

99.9% purity holds the majority of the market share due to its high quality and effectiveness in various industrial applications, commanding a significant market share in sectors where stringent purity standards are essential, such as pharmaceuticals and electronics manufacturing.

Market Breakup by End Use:

• Paints and Coatings
• Inks
• Personal Care Industry
• Others

Paints and coatings accounted for the largest market share owing to the widespread use of coatings in construction, automotive, and industrial sectors, where they are essential for protecting surfaces, enhancing aesthetics, and ensuring durability, thus driving significant demand in the market.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Region-wise the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.

Global Methyl Acetate Market Trends:

The rising construction activities, leading to higher demand for paints, coatings, and adhesives, which in turn boosts the consumption of methyl acetate, is propelling the market growth. Additionally, the widespread product applications in the packaging industry for printing inks, adhesives, and coatings on flexible packaging materials are supporting the market growth. Besides this, recent technological advancements in chemical manufacturing processes that are enhancing production efficiency and reducing costs, making methyl acetate more accessible and affordable, are contributing to the market growth. Furthermore, the rising product utilization in the electronics industry for cleaning electronic components and manufacturing electronic devices is fostering the market growth.

Who are the key players operating in the industry?

The report covers the major market players including:

• Anhui Wanwei Group Co. Ltd.
• Chang Chun Group
• China Petrochemical Corporation
• Eastman Chemical Company
• Shanxi Sanwei Group Co. Ltd.
• Wacker Chemie AG

Browse the full report with TOC and list of Figures: https://www.imarcgroup.com/methyl-acetate-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/