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"Global 2-Ethylhexyl Acetate Market was Valued at US$ XX Mn in 2019 and it is, likely to grow with a CAGR of 4.1% During the Forecast Period."
2-Ethylhexyl Acetate is opted for its high boiling point and lower VOC content in contrast to the traditional solvents that include chlorinated solvents, 2-Ethylhexyl acetate having huge traction across different sectors worldwide. 2-Ethylhexyl Acetate being a common solvent applied in automotive and paints & coatings industries, this solvent is widely utilized in the manufacturing of the cosmetics & personal care and printing ink sectors also. Regulatory policies had played a significant role that has increased the market value of US$ 300 Mn by 2028 end.
Fluctuation in the prices of 2-Ethylhexyl acetate impacted the petroleum-based hydrocarbon solvents that are based on the Volatility of crude oil prices. Thus such volatility of this offering is influencing the profit margins of 2-Ethylhexyl acetate manufacturers. An increase in the prices of petrochemical products thus is expected to obstruct the global production capacity of 2-Ethylhexyl acetate during the forecast period. The product is anticipated to exhibit an increase in demand for an industrial solvent in the paints & coatings manufacturing organizations. 2-Ethylhexyl acetate market is growing because it is being used as a substitute for the traditional solvents that include chlorinated solvents due to its low VOC content. Moreover, the shift in the norms imposed by the governments and advancement in the substitute solvents globally is limiting the growth of the 2-Ethylhexyl acetate market.
Unique qualities of 2-Ethylhexyl acetate have a greater boiling point, hydrophobic; relatively polarity enables it to be a suitable solvent for nitrocellulose and other resins that are generally applied in lacquers, NC lacquer emulsions, screen inks, and enamels in order to increase the flow and film formation. The 2-Ethylhexyl acetate market demand is also from the leather industry in dyeing and finishing contributing to the film formation and flow.
Paints & Coatings Segment held a prominent share in Global 2-Ethylhexyl Acetate Market in 2019
Paints & coatings were the leading segments of 2-Ethylhexyl Acetate market share, it accounted for healthy market growth in the global 2-Ethylhexyl Acetate in 2019. Increased construction and infrastructure activities globally are plunging the demand of 2-Ethylhexyl Acetate solvent that is a vital constituent of paints & coatings applied for constructions. Usage of paints & coatings has a substantial usage in protecting and decorating the construction projects that include new and renovated infrastructure globally. Increased disposable income contributed to the rise in the new and renovation building and infrastructure projects that surged the application of paints & coatings had indirectly supported in demand of 2-Ethylhexyl Acetate solvents. Such a trend is majorly being observed in the developed and developing countries contributing to the rise of 2-Ethylhexyl Acetate market growth.
Asia Pacific region is expected to dominate 2-Ethylhexyl Acetate Market during the Forecast Period.
2-Ethylhexyl Acetate has a greater market growth potential significantly in the Asia Pacific region. Such a trend is by the availability of various chemical manufacturers and suppliers in these regions. The revenue generation of 2-Ethylhexyl acetate market in the Asia Pacific region shall steadily grow during the forecast period by an increase in the demand for paints & coatings offerings globally. The market trend is attributed to the market growth of chemical manufacturers also especially in countries including China, Japan, and South Korea. The backing of the government in the industrialization is also one of the contributing factors that boost the market of 2-Ethylhexyl Acetate solvents in this region.
Global 2-ETHYLHEXYL ACETATE market is fragmented among the number of local and global players. Thus, competition between the 2-Ethylhexyl Acetate manufacturers is competitive by the rivalries existing in the global market.
Prominent players operating in the global 2-ETHYLHEXYL ACETATE market are listed as follows: BASF SE., Eastman Chemical Company, Polynt SpA., Chemoxy International Ltd., Changzhou Xiaqing Technological Co., Ltd., and Vijay Ajmera Group
Global 2-Ethylhexyl Acetate Market Key Segments:
Global 2-Ethylhexyl Acetate Market, By Product:
- Purity Grade 98.0%
- Purity Grade 99.0%
Global 2-Ethylhexyl Acetate Market, By Application:
Global 2-Ethylhexyl Acetate Market, By Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America