Methyl Acetate Market Worth USD 16.04 Million, at 7% CAGR During 2019-2023
Flexographic printing inks are chemical substances increasingly being
used in small quantities in printing ink formulations. These inks are
mainly used in printing inks owing to its fast evaporation properties
allowing the inks to dry quickly at the time of printing. Also, the
growing packaging industry across several economies, including China,
India, the US, and Germany is directly impacting the flexographic
printing inks market demand in the forthcoming years. The rising
popularity of online trade and e-commerce, coupled with the increasing
demand for doorstep delivery of commodities, will foster the
flexographic printing ink market. Thus, the growing demand for
flexographic inks for printing is expected to drive the methyl acetate
demand during the forecast period.
Global Methyl Acetate Market: Segmentation analysis
This market research report segments the global methyl acetate market by end-user (paints and coatings, inks, personal care industry, and others) and geographic regions (APAC, North America, Europe, MEA, and South America).
APAC led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. The market growth in APAC can be attributed to the growing consumption of methyl acetate as a blowing agent in the manufacture of PU foams, particularly, in mattresses and cushions. Also, increasing construction activities and automotive production in APAC are contributing to the growing demand for methyl acetate in the region.
Global Methyl Acetate Market: Rise in the production of foam blowing agents
A key factor driving the growth of the global methyl acetate market is the rise in the production of foam blowing agents. Foam blowing agents are used to impart several features, including low weight, excellent textures, heat insulation, electrical insulation, and permeability. These properties make them a viable option to be used in the manufacture of various foams, including rigid polyurethane foams, flexible PU foams, and rigid extruded polystyrene (XPS) foams. Therefore, the increasing demand for foam blowing agents across the globe is anticipated to drive the methyl acetate market growth during the forecast period.
Global Methyl Acetate Market: Segmentation analysis
This market research report segments the global methyl acetate market by end-user (paints and coatings, inks, personal care industry, and others) and geographic regions (APAC, North America, Europe, MEA, and South America).
APAC led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. The market growth in APAC can be attributed to the growing consumption of methyl acetate as a blowing agent in the manufacture of PU foams, particularly, in mattresses and cushions. Also, increasing construction activities and automotive production in APAC are contributing to the growing demand for methyl acetate in the region.
Global Methyl Acetate Market: Rise in the production of foam blowing agents
A key factor driving the growth of the global methyl acetate market is the rise in the production of foam blowing agents. Foam blowing agents are used to impart several features, including low weight, excellent textures, heat insulation, electrical insulation, and permeability. These properties make them a viable option to be used in the manufacture of various foams, including rigid polyurethane foams, flexible PU foams, and rigid extruded polystyrene (XPS) foams. Therefore, the increasing demand for foam blowing agents across the globe is anticipated to drive the methyl acetate market growth during the forecast period.
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