Allied Market Research

2024

Methyl Acetate Market

Methyl Acetate Market Size, Share, Competitive Landscape and Trend Analysis Report by Application, by End-use: and by End User : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Renewable, Speciality and fine chemicals

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Author's: | Eswara Prasad
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Methyl acetate also known as acetic acid methyl ester or methyl ethanoate is a carboxylate ester with the formula CH3COOCH3. Methyl acetate is a flammable liquid with characteristically pleasant smell reminiscent of some glues and nail polish removers. Methyl acetate is occasionally used as a solvent being weakly polar and lipophilic, but its close relative ethyl acetate is a more common solvent which is less toxic and is soluble in water. Methyl acetate has 25% solubility in water at room temperature. At elevated temperature its solubility in water is much higher. Methyl acetate is not stable in the presence of strong aqueous base or aqueous acids. Methyl acetate is produced industrially via the carbonylation of methanol as a byproduct of the production of acetic acid. 

COVID-19 Impact analysis

  • The COVID-19 has affected the sales of paints and coatings as the construction activities came to a standstill where methyl acetate was used  
  • Nevertheless, the interest in DIY home decorations has increased as more time is spent in the home due to lockdown. 
  • This has increased consumer's interest in paints and coatings, which is anticipated to impact the ethyl acetate market. 
  • Furthermore, the chemical industries have been shut down due to COVID-19 and which has resulted in less production of chemical products such as pigments, solvents, and intermediates and negatively impacted the ethyl acetate market.

Top Impacting Factors
Methyl acetate find ample uses in numerous industries. Methyl acetate is used in variety of industries due to exceptional properties such as higher evaporation rate, superior solvent activity, readily biodegradable and low odor because of these characteristics methyl acetate has the potential to substitute industrial solvents as an ingredient in paints and coating solutions. Rapid technological developments in chemical industry have also resulted in commodity being sold mostly in developed regions, which has contributed to methyl acetate market growth.

Market Trends

  • Methyl acetate finds its use in various industries due to its exceptional properties such as better evaporation rate, exceptional solvency activity, readily available low odor and others.
  • These properties of methyl acetate have a potential to replace commercial solvent ingredients in paintings and coatings solutions based on methyl acetate is increasing considerably.
  • There are regulations imposed by the governments of North-America and Europe on the usage of solvents having low VOC contents drives the attention of coating and paints manufacturer to make use of bio compatible solvents such as methyl acetate for coating formulations.
  • Various factors such as consumption of novel personal care and cosmetics products formulated from methyl acetate by the youth population for grooming purpose are involved in the spurting growth of the Methyl acetate.
  • There are some unwanted properties associated with methyl acetate such as it causes irritation to eyes, dizziness or drowsiness to people working in the processing of methyl acetate which may act as a stumbling block of methyl acetate and restraints its growth in the near future. 

Key Benefits of the Report

  • This study presents the analytical depiction of the methyl acetate industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the methyl acetate market share.
  • The current market is quantitatively analyzed to highlight the methyl acetate market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed methyl acetate market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the methyl acetate Report

  • Who are the leading market players active in the methyl acetate market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?

Methyl Acetate Market Report Highlights

Aspects Details
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By Application
  • Adhesives and Sealants
  • Paints and Coatings
  • Pigments
  • Process Solvent
  • Intermediates
  • Other
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By End-use:
  • Paints and Coatings
  • Inks
  • Personal Care Industry
  • Others
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By End User
  • Chemical & Petrochemical
  • Oil & Gas
  • Healthcare
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Spain Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

Eastman Chemical Company, Sichuan Chuanwei Group Co., Ltd, Celanese Corporation, Sinochem Qingdao Co.,Ltd., Anhui Wanwei Group Co.,Ltd., China Haohua Chemical Group Co Ltd, Wacker Chemie AG, Chang Chun Group, Jiangsu Ruifeng Polymer Materials Co., Ltd, Shanxi Sanwei Group Co., Ltd.

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Methyl Acetate Market

Global Opportunity Analysis and Industry Forecast, 2023-2032