Persistence Market Research
?Methyl acetate an organic compound falls under the category of saturated hydrocarbons, which has a chemical formula of CH3COOCH3. Commercially, this compound is also available with a name of acetic acid methyl ester and methyl ethanoate. In terms of physical appearance, methyl acetate is colorless liquid having fragrant odor. Some more properties of methyl acetate is that it is a flammable liquid and shows limited solubility with water at a room temperature. However, at elevated temperature the solubility of methyl acetate with water increases. Methyl acetate is present in fruits, such as banana, grapes and apple, as a flavoring ingredient. However, on commercial level, methyl acetate is prepared by the esterification reaction, where acetic acid reacts with methanol in the presence of strong acid giving methyl acetate as a final product. Unlike other acetate derivatives, methyl acetate is occasionally used in the formulation of solvents because of its non-polar nature. Commercially, there are two types of grades available in the market, i.e., industrial and cosmetic grades. Industrial grade are generally used in the formulation of coating solutions, resins and adhesives, whereas cosmetic grade is used in the formulation of personal care products. Similarly, methyl acetate is available in grades with different purity level, prominent manufacturers are focusing in the formulation of high-purity grade methyl acetate with increased efficacy such as fast evaporation that finds suitable usage in the formulation of paint & ink solutions. High purity grade also finds application in the formulation of moisture sensitive paints.
Methyl Acetate Market: Drivers and Restraints
Methyl acetate finds its usage in numerous industries due to its exceptional properties such as better evaporation rate, exceptional solvent activity, readily biodegradable, low odor and others. With these properties methyl acetate has a potential to replace commercial solvents as an ingredient in paints & coating solutions. As the construction, automobile & aerospace industries are expanding the demand for paint & coating solutions based on methyl acetate is growing significantly. Furthermore, regulations imposed by the governments in North America and Europe on the usage of solvents having low VOC content drives the attention of coating and paint manufacturers to use biocompatible solvents such as methyl acetate for coating formulations. Also, numerous factors such as consumption of novel personal care & cosmetic products formulated from methyl acetate by the youth population for grooming purpose are involved in propelling the growth of the methyl acetate market. However, some unwanted properties associated with methyl acetate such as it causes irritation to eyes, dizziness or drowsiness to the people working in the processing of methyl acetate may act as a stumbling block in the adoption of methyl acetate & restrain its growth in the near future.
Methyl Acetate Market: Segmentation
On the basis of Grade Type, the methyl acetate market can be segmented as:
On the basis of Purity, the methyl acetate market can be segmented as:
On the basis of Application, the methyl acetate market can be segmented as:
Methyl Acetate Market: Regional Outlook
North America which is driven by the U.S. and Canada, the methyl acetate market witnesses strong growth in the near future. Growing application of coating and paints in numerous number of industries increases the demand for methyl acetate in the region. Western Europe methyl acetate market shows steady growth in the near future, which is driven by the positive economic condition coupled with effective supply channel of the final products. The APEJ market is mainly driven by China and India and is expected to exhibit considerable growth in methyl acetate consumption. Rapid rate of urbanization and increase in consumer spending on personal care products drives the cosmetic and personal care industry in the region. Expansion of the automotive industry especially in China & India is anticipated to increase the demand for innovative coating solutions based on methyl acetate. Other regions such as Latin America, Eastern Europe and the Middle East & Africa are the attractive regions for the manufacturers in order to establish their manufacturing base due to favorable conditions, owing to which the demand for methyl acetate is anticipated to grow with a substantial pace in these regions.
Methyl Acetate Market: Key Participants
Examples of some of the market participants in the global methyl acetate market identified across the value chain include:
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