Isobutyl Acetate Market Introduction
- The chemical compound isobutyl acetate, also known as 2-methylpropyl ethanoate, is a common solvent. Isobutyl acetate is produced by the esterification of isobutanol with acetic acid. It is used as a solvent for lacquer and nitrocellulose. Akin to many esters, isobutyl acetate has a fruity or floral smell at low concentrations and occurs naturally in raspberries, pears, and other plants.
- Isobutyl acetate is a medium boiling solvent with a typical mild, fruity, ester odor. It resembles n-butyl acetate and methyl isobutyl ketone in solvent performance and can be used as a replacement for these solvents in various formulations.
- • In terms of application, the global isobutyl acetate can be segmented into c??m?t??? & p?r??n?l c?r?, ph?rm???ut???l?, c??t?ng? & p??nt?, adh???v??, and others. The coatings & paints segment is expected to expand at a significant pace during the forecast period owing to rise in usage of isobutyl acetate as a raw material in certain coatings and paints.
- In terms of type, the global isobutyl acetate market can be divided into pharma grade, cosmetics grade, and industrial grade. The pharma grade type segment is expected to expand at a rapid pace during the forecast period owing to rapidly flourishing pharmaceutical industry across the globe.
Key Drivers of Isobutyl Acetate Market
- Growth in usage of isobutyl acetate in coatings & paints application is expected to boost the market during the forecast period. Isobutyl acetate possesses various properties such as good solvent activity, desirable evaporation rate, and pleasant odor. These properties facilitate its usage in a wide range of coating applications. This is anticipated to drive the market during the forecast period.
- Increase in use of isobutyl acetate as solvent in the production of polymers, resins, oils, and cellulose is projected to boost the isobutyl acetate market. Isobutyl Acetate has strong solvency traits for polymers, resins, oils, and cellulose. It is mainly used as a solvent in the paints & coatings industry for wood varnishes, architectural coatings, printing inks, and adhesives. It can replace n-butyl acetate if a coating needs to dry quicker. Additionally, it is widely used as solvent in aerosol sprays, thinners, sealants, cleaners, fragrances, cosmetics, and personal care-products.
Restraints of Isobutyl Acetate Market
- Side effects associated with isobutyl acetate are restraining the market. Isobutyl acetate carries various side effects. Its odor can be unpleasant and may cause symptoms of central nervous system depression such as nausea, dizziness, and headache. These side effects are leading to an increase in regulatory restrictions on applications of isobutyl acetate. This is estimated to restrain the global market.
- Dearth of universal directives pertaining to applications of isobutyl acetate is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of isobutyl acetate. Companies find it difficult to comply with these country-wise directives and legislations. This can discourage investment in the isobutyl acetate market, thereby hampering the market.
- Lack of awareness and low rate of adoption of isobutyl acetate in several developed and underdeveloped countries are also projected to restrain the market during the forecast period
COVID-19 impact on Isobutyl Acetate Market
- The COVID-19 outbreak is hampering the demand for Isobutyl Acetate in several applications. Various governments across the globe enforced lockdowns as a measure to curb the spread of the coronavirus. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this is hampering the demand for Isobutyl Acetate.
- Key players operating in the Isobutyl Acetate market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Several of these players have halted their production output since the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of Isobutyl Acetate. Thus, the global Isobutyl Acetate market is projected to contract in 2020.
Asia Pacific to Hold Major Share of Global Isobutyl Acetate Market
- In terms of region, the global Isobutyl Acetate market can be split into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
- In terms of consumption, Asia Pacific is projected to hold significant share of the global Isobutyl Acetate market during the forecast period. Rapid expansion of paints & coatings, pharmaceutical, cosmetics & personal care industries in China, Japan, and South Korea is expected to boost the consumption of Isobutyl Acetate in these countries during the forecast period.
- The market in North America is also expected to expand at a rapid pace during the forecast period owing to an increase in consumption of isobutyl acetate in the paints & coating industry for automotive applications in the U.S. and Canada
- Europe is expected to hold vital share of the global isobutyl acetate market owing to rise in usage of isobutyl acetate in pharmaceutical applications in the region
Prominent Players operating in Global Isobutyl Acetate Market
Major players operating in the global Isobutyl Acetate market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Celanese Corporation
- BP Plc
- Eastman Chemical Company
- Daicel Corporation
- LyondellBasell Industries N.V.
- Jiangsu Sopo (Group) Co. Ltd.
- Shanghai Huayi (Group) Company
- Kingboard Chemical Holdings Ltd.
- Shandong Hualu-Hengsheng Chemical Co. Ltd.
- Yankuang Cathay Coal Chemicals Co. Ltd.
Global Isobutyl Acetate Market, by Type
- ?h?rm? Gr?d?
- ???m?t??? Gr?d?
- ?ndu?tr??l Gr?d?
Global Isobutyl Acetate Market, b? ???l???t??n
- ???m?t??? & ??r??n?l ??r?
- ???t?ng? & ???nt?
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