The new report by Expert Market Research titled, 'Global Methyl Acetate Market Price, Trends, Growth, Analysis, Outlook, Report and Forecast 2021-2026', gives an in-depth analysis of the global methyl acetate market, assessing the market based on its segments like end use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 10%
Methyl acetate finds extensive uses in various industries. It is used in a variety of industries due to its exceptional properties such as higher evaporation rate, superior solvent activity, readily biodegradability, and low odour. Because of these characteristics, methyl acetate has the ability to substitute industrial solvents as an ingredient in paints and coating solutions. As the building, automotive, and aerospace industries rise, so does the demand for methyl acetate-based paint and coating solutions. Various government regulations in the developed regions requiring the use of low VOC solvents push the coating and paint manufacturers to use biocompatible solvents such as methyl acetate in coating formulations, further propelling the growth of the demand in the industry.
Industry Definition and Major Segments
Methyl acetate refers to a carboxylate ester with the formula CH3COOCH3. It is also known as MeOAc, acetic acid methyl ester, or methyl ethanoate. It is a flammable liquid with a good odour reminiscent of certain glues and nail polish removers.
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Based on end use, the industry can be divided into:
• Personal Care Industry
The regional industries can be categorised as follows:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increasing use of methyl acetate as a solvent in paints, as well as its use in nail polish removers and glues for various extractions and chemical reactions, is expected to drive market growth in the coming years. Rapid technological developments in the chemical industry have also resulted in this commodity being sold mostly in developed regions, which has contributed to the market growth. The rising automotive production and construction activities throughout the world will further propel the demand for methyl acetate from the paints and coatings industry.
Key Market Players
The major players in the market are Celanese Corp. (NYSE: CE), China Petrochemical Corp., Eastman Chemical Co. (NYSE: EMN), and Wacker Chemie AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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