Growing usage of 2-Ethylhexyl acetate in the automotive & aerospace and automotive refinish coatings sector is pulling huge investments from chemical producers.
DUBAI, UAE / ACCESSWIRE / September 9, 2020 / Future Market Insights: The 2-ethylhexyl market is estimated to expand at a CAGR of 4% throughout the assessment period, 2019-2029.
Growing in renovation and construction projects have exalted the paints & coatings demand, decorative in addition to protection purposes. This, consecutively, is improving the importance of the 2-ethylhexyl acetate market in the paints & coatings sector, due to its high miscibility quotient.
"2-ethylhexyl acetate is efficiently being utilized as an alternative to conventional solvents that has comparatively more prominent levels of volatile organic components (VOCs). Growing regulations concerning VOC components will push the 2-ethylhexyl acetate demand in the coming years." - FMI analyst.
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2-ethylhexyl Market- Critical Takeaways
- ≥99% purity 2-ethylhexyl acetate will continue to be a majorly preferred grade in the worldwide market, due to stricter regulations.
- Paint & coating applications are likely to hold the majority of market share, with the notable drive coming from the aerospace and automotive sectors.
- Growing economies such as India and China are slated to display prominent remunerative prospects for producers.
2-ethylhexyl Market- Drivers
- An increase in construction and renovation projects and the resultant need for protective coatings is a prominent driver for global demand.
- Stricter environment and health regulations being set on the global chemicals sector are boosting the acceptance of 2-ethylhexyl acetate.
- Increased uptake of printing inks in the packaging sector generating profitable sales prospects.
2-ethylhexyl Market- Restraints
- Fluctuation regulatory scenario and growing alternative solutions may hinder market growth.
- The growing popularity of high-solid and waterborne coatings over solvent-borne coatings, due to their environmental-friendly nature, may impact market growth.
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COVID-19 Impact on 2-ethylhexyl Market
The COVID-19 pandemic has notably impacted the production of 2-ethylhexyl acetate in the global market due to supply chain disruptions, factory shutdowns, and unpredictability and fluctuations in prices of raw material supplies. Furthermore, manufacturing plants are worker-dense as the majority of the operations cannot be carried out remotely. To address the social distancing concerns, amid the crisis, manufacturers are ascertaining and executing a safe distance amid workers through staggered shifts.
Competitive Landscape
Prominent companies identified in the 2-ethylhexyl acetate market are BASF SE, Chemoxy International Ltd., Eastman Chemical Company, and Polynt SpA, among others. The global market is notably consolidated with a handful of leading companies attaining higher market shares. Leading companies stay focused on augmenting supply chains for acquiring raw materials within the sector. Companies are also aiming technological and product innovations, along with customized product launches to fortify their base in the global 2-ethylhexyl acetate market.
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About the Study
The study offers readers a comprehensive assessment of the 2-ethylhexyl market. Global, regional and national-level analysis of the latest trends influencing the 2-ethylhexyl market is covered in this FMI report. The study provides insights according to purity (Purity ≥ 99% and Purity < 99%), application (industrial solvents and performance chemicals), and end users(Automotive & Aerospace, Paints & Coatings, Leather Industry, Cleaners & Paint Striping Systems and Others) across six key regions (North America, Latin America, Europe, China, Asia Pacific excluding China, and Middle East & Africa).
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