Methyl Acetate Report Overview
Methyl Acetate Market is expected to grow at a CAGR of 3.94% during the forecast period 2024-2031.
Methyl acetate is a colorless liquid with having fragrant odor. The properties of methyl acetate is a flammable liquid and show limited solubility with water at room temperature. However, at elevated temperatures, the solubility with water increases. Methyl acetate occurs naturally as a flavoring ingredient in fruits such as grapes, bananas, and apples.
Market Scope
| Metrics | Details |
| Market CAGR | 3.94% |
| Segments Covered | By Grade, By Purity, By Application, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | Asia Pacific |
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Market Dynamics
High purity and low volatility of methyl acetate and its increasing demand in paints and coatings
Methyl acetate is used in numerous industries due to its exceptional properties such as high purity, low volatility, better evaporation rate, exceptional solvent activity, readily biodegradable, low odor, and others. Paints and coatings are widely used in many applications, such as buildings, cars, and others. Various additives, including methyl acetate, are significantly added to improve the numerous functional properties of paints and coatings.
Health issues associated with methyl acetate
Though methyl acetate is regarded as safe to be used in the food industry, it has major health hazards when used in various industries, such as personal care and inks. As per the U.S. National Library of Medicine, exposure to methyl acetate cause mild irritation to the respiratory system and the eyes. Further, exposure to methyl acetate vapor for around 45 minutes can cause severe headaches. Therefore, the health risks associated with methyl acetate tend to hamper the global market for the respective chemical.
Market Segment Analysis
The global methyl acetate market is segmented based on grade, purity, application, and region.
Growing application of methyl acetate as a solvent for cellulose esters
Methyl acetate is a colorless liquid that is miscible with water and has a characteristic acetic acid odor. It is used as a solvent in the paint industry for cellulose esters. The cellulose esters are applied extensively employed in manufacturing adhesives, coating, and plastic. The growing demand for cellulose acetate due to the growing construction, industrial and automotive sector boosts the demand for methyl acetate in the coatings & paint sector.
Market Geographical Share
Growth in investments in Asia-Pacific chemical and construction industries owing to increased purchasing power
Asia-Pacific is a leading regional share in the global methyl acetate market. Asia-Pacific accounts for the largest market share due to the region's growing popularity of methyl acetate. Asia-Pacific is predicted to control the largest share of the global methyl acetate market during the forecast of the growth in consumption and production in China. Further, expanding economies such as India, Malaysia, and India also propose attractive opportunities for the market. The effective growth in investments in chemical and construction industries owing to increased purchasing power propels the global methyl acetate market. The rising population will affect the production capacity and provide the demand for a paint-efficient chemical industry.
Market Companies
The major global players include Eastman Chemical Company, Wacker Chemie AG, Anhui Wanwei Group Co., Ltd., Celanese Corporation, Sichuan Chuanwei Group Co., Ltd, China Haohua Chemical Group Co Ltd, Sinochem Qingdao Co., Ltd., Shanxi Sanwei Group Co., Ltd., Jiangsu Ruifeng Polymer Materials Co., Ltd, and Zhangzhou Oushuo Chemical.
Key Developments
- In November 2022, The Eastman Chemical Corporation developed and implemented a breakthrough process-intensified methyl acetate process. The core of the commercial-scale processes is an integrated multifunction column. The functions integrated are solvent extraction, reaction, vapor stripping, and distillation.
- The start-up of a significant capacity extension of Sekisui Specialty Chemicals' high purity (99.5%) methyl acetate manufacturing facility in Tarragona, Spain, was revealed on April 12, 2021. This will increase the company's ability to provide clients with methyl acetate products that are unique. The new low-cost operating section is already providing customers with high-quality goods and it could be readily extended to satisfy market demands.
- Sekisui Specialty Chemicals declared a price rise of up to €100/MT on August 15, 2019, for the methyl acetate grades manufactured at its Tarragona, Spain, facility.
The global methyl acetate market report would provide approximately 61 tables, 60 figures, and 191 Pages.
