Esters are compounds derived from organic or inorganic acids by replacing the last hydroxyl group by an alkyl group. Esters can be subdivided into two groups: ethyl esters and acetate esters. Ethyl esters are made up of short chain alcohol group and longer chain fatty acids, while acetate esters consist of short chain acetic acid group and longer chain alcohol group. Acetate esters act as powerful solvents across a wide range of resins. They are compatible with most common organic solvents. These solvents have slow, controlled evaporation rate, low surface tension, low water solubility, and higher gloss.
Led by the increase in automotive sales in developing economies, acetate esters are employed extensively in top coat marines. This is anticipated to drive the acetate esters market in the near future. Furthermore, rise in demand for high gloss surface coatings in various applications is estimated to boost the demand for acetate esters during the forecast period.
Companies operating in the global acetate esters market strive to explore new and better ways to manufacture acetate esters. Development of new processes to produce acetate esters is estimated to propel the market in the near future. However, volatility in prices of raw materials is projected to hamper the acetate esters market during the forecast period.
In terms of product, the global acetate esters market can be segmented into butyl acetate, methyl acetate, cellulose acetate, vinyl acetate, and others. The vinyl acetate segment is likely to expand at a rapid pace in the next few years due to the rise in demand for high gloss surface coatings in the automotive industry in developing economies across the globe.
Based on application, the global acetate esters market can be divided into topcoat & primer, maintenance & marine, high solids, wood lacquer, and polymerization. The topcoat & primer segment is expected to expand at a significant pace during the forecast period due to the consistent usage of acetate esters in various paints and coatings across the globe.
In terms of region, the global acetate esters market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Europe and North America are anticipated to constitute major share of the global market during the forecast period. The acetate esters market in Asia Pacific is estimated to expand at a rapid pace due to the rise in per capita income in developing economies such as China and India. Increase in per capita income is boosting the spending power of consumers in the region. This, in turn, is estimated to propel the demand for high quality products in Asia Pacific. Additionally, growth in usage of acetate esters in making highways is fueling the acetate esters market in the region. Middle East & Africa is expected to be a lucrative region of the global acetate esters market during the forecast period, led by the increase in demand for acetate esters in high load bearing roads in the region.
Prominent players operating in the global acetate esters market include INEOS Holdings Limited, Hallstar Company, Eastman Chemical Company, and Solventis Ltd. These players engage in research & development activities, strategic alliances, and mergers & acquisitions to gain market share.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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