The Global Butyl Acetate (BAC) Market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Butyl acetate is an organic compound which occurs naturally in food products. However, it can also be produced chemically. It is commonly used as a solvent in the production of lacquers and paints, butyl acetate is an active solvent for film-formers such as cellulose acetate butyrate, nitrocellulose, polyesters, epoxies, alkyds, vinyl copolymers, and acrylic resins. It is a colorless liquid with low viscosity, having a sweet banana-like odor. This liquid is volatile but flammable in nature. Butyl Acetate is a medium boiling ester solvent.
The global Butyl Acetate (BAC) Market is primarily driven by heavy investments in the infrastructure in the developing nations like China, Brazil, and India due to increasing in urbanization, industrialization, rising population and the increase in disposable income of the middle-class people. Moreover, rising demands for automotive has also boosted the market for Butyl Acetate (BAC).
However, the strict environmental regulations for the use of Butyl Acetate (BAC) in various countries will be hampered the growth of Butyl Acetate (BAC).
By application, the global Butyl Acetate (BAC) Market is segmented into Paints & Coatings, Plastics, Printing Inks, and Others. Paints & Coating have higher dominance in the application of Butyl Acetate (BAC) due to the high growth of the automobile industry and the rising demand for the Butyl Acetate (BAC) in the inner and outer surface of the automobile.
Geographical Analysis
By geography, the global Butyl Acetate (BAC) Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
APAC holds the largest market share for Butyl Acetate (BAC) Market due to economy rise and rising activity in infrastructure and industrial development which rise the need for paints and coating application in the developing nation like China and India have high demands for Butyl Acetate (BAC) and has made APAC hold most of the market share.
FDI inflows to developing Asia remained stable at $476 billion in 2017, thanks to the high-tech sector in China, a rebound in Indonesia, and increases in most ASEAN countries. This was enough to offset declines in other large recipient economies in the region, including Hong Kong (China), Singapore, India, and Saudi Arabia. Against the backdrop of a significant decline in worldwide FDI, the region’s share in global inflows rose from 25 percent in 2016 to 33 percent in 2017. Several large transactions took place in Hong Kong (China), India, and Singapore. The five largest recipients — China, Hong Kong (China), Singapore, India, and Indonesia — absorbed four-fifths of FDI inflows to the region.
However, Europe is after APAC in terms of the market share of Butyl Acetate (BAC) Market, due to large investment for the infrastructure development and also due to increase in the urban population, increasing the demand in residential construction will create a large demand for Butyl Acetate (BAC).
Statistics published by the National Records for Scotland, for example, reveal the influence of these changing demographics, with future household demand rising faster than population growth. By 2037, Scotland’s population growth is forecast to be 9percent, with growth in the number of households forecast to be 17 percent. This 8 percent difference is in effect the household growth demand from the existing population.
In England, between now and 2041, the population is expected to increase by 16 percent, with projected household growth at 23 percent, resulting in a 7 percent difference in demand.
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