Propyl Acetate Market: Overview
Propyl acetate, also known as propyl ethanoate, is an ester. It is clear, colorless liquid commonly used in fragrances and as a flavor additive. Normal propyl acetate (also known as n-propyl acetate or 1-propyl acetate) is an organic compound with the molecular formula C?H??O?. It is formed by the esterification of acetic acid and 1-propanol (known as condensation reaction), often using Fischer–Speier esterification process. In this reaction, sulfuric acid acts as a catalyst and water is produced as a byproduct. Propyl acetate is found in apples. It is a flavoring agent. It belongs to the family of carboxylic acid esters. These are carboxylic acid derivatives in which a carbon atom from the carbonyl group is attached to an alkyl or oaryl moiety through an oxygen atom (forming an ester group). Propyl acetate is used primarily as a solvent for liquid, rotogravure printing inks and flexographic printing inks. Its other applications include coatings, wood lacquers, aerosol sprays, nail care products, cosmetics, and fragrances. The solvency and thinnability of propyl acetate is comparable to ethyl acetate. It dissolves several natural and synthetic resins (for example, cellulose nitrate, acrylates, alkyl resins, plasticizers, waxes, oils, and fats) and is thus an extremely suitable solvent for wood lacquers and industrial finishes.
Propyl Acetate Market: Dynamics and Trends
Propyl acetate is produced by direct esterification of the corresponding alcohol with acetic acid in the presence of sulfuric acid, p-toluenesulfonic acid, methanesulfonic acid, or a strong cationic resin used as a catalyst. 1-propanol can also undergo ester interchange with methyl acetate or ethyl acetate in the presence of a strong cationic exchange resin and produce n-propyl acetate. Propyl acetate is one of the organic solvents, collected in factories all over Japan and analyzed by gas chromatography. In liquid and vapor forms, propyl acetate is flammable. Propyl acetate vapors are explosive. They are heavier than air. They can spread across to long distances and accumulate in low-lying areas. These vapors are stable at recommended temperatures and pressures. Exposure to elevated temperatures can cause propyl acetate to decompose. Propyl acetate is incompatible with alkali metal hydroxides (such as sodium hydroxide), nitric acid, and strong oxidizers. Hence, propyl acetate should not be brought in contact with these compounds. Propyl acetate has medium evaporation rate and it is a non-HAP (hazardous air pollutant) solvent. It promotes flow and leveling in a variety of formulations. The compound is highly flammable with flash point of 14°C and flammability rating of 3. It is highly miscible with all common organic solvents (such as alcohols, ketones, glycols, esters), but has only slight miscibility with water.
Propyl Acetate Market: Segmentation
The propyl acetate market can be segmented by grade (mil spec, reagent & technical grade, agricultural & pharmaceutical grade, and optical grade), by application (food additives & ingredients, solvents, paints & coatings, and others), and by region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Propyl Acetate Market: Region-wise Outlook
Currently, North America and Europe lead the global propyl acetate market. Asia Pacific and MEA are estimated to be the leading markets for propyl acetate during the forecast period. Government targets and policy support in the two regions are factors likely to drive the propyl acetate market in APAC and MEA.
Propyl Acetate Market: Key Players
Key players operating in the global propyl acetate market include Eastman Chemical Company, DOW Chemical Co. Ltd., and KH Chemicals Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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