Methyl Acetate Market Report 2024 (Global Edition)

Global Methyl Acetate Market Report 2024 Market Size Split by Grade Type Outlook: (Cosmetic Methyl Acetate, Industrial Methyl Acetate), by Application Outlook: (Resins, Coating & Paint, Adhesives, Foa...

Methyl Acetate Market Report Description

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Competitive Landscape of the Methyl Acetate Market

The market for methyl acetate is extremely competitive, and major competitors are concentrating on strategic plans to increase their market share and go global. Well-known businesses are using joint ventures, mergers, acquisitions, and partnerships to increase their regional market shares and diversify their product lines. Product innovation is still a key tactic, with businesses spending money on R&D to create high-performing, sustainable solutions. In order to satisfy the increasing demand, companies are also building new manufacturing facilities and streamlining their supply chains to cut costs and increase efficiency. These tactics support long-term market growth and resilience by helping businesses stay ahead of the competition and adapt to changing customer preferences and regulatory changes.

Top Companies Market Share in Methyl Acetate Industry: (In no particular order of Rank)

• Anhui Wanwei Group Co. Ltd.
• Chang Chun Group
• China Petrochemical Corporation
• Eastman Chemical Company
• Shanxi Sanwei Group Co. Ltd.
• Wacker Chemie AG
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Regional Analysis of the Methyl Acetate Market

Which Region Dominates the Methyl Acetate Market in 2024?

According to Cognitive Market Research, North America currently dominates the Methyl Acetate market, and the region is expected to have significant growth during the projected period. The increased demand from sectors like paints & coatings, construction, and automobiles is propelling the methyl acetate market in North America. Because methyl acetate is biodegradable and has a low environmental impact, it has benefited from the move toward low-VOC and environmentally friendly solvents. Growth in the market is also aided by improvements in manufacturing technology and growing investments in environmentally friendly infrastructure projects. The area also gains from a strong supply chain and the existence of major market participants committed to R&D and new product development. North America is a major contributor to the global methyl acetate market due to its expanding usage in pharmaceuticals and personal care products, which also provide profitable potential.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Due to the growing demand from sectors including automotive, paints & coatings, and adhesives brought on by fast industrialization and urbanization, the methyl acetate market in the Asia Pacific is expanding rapidly. Market expansion is being supported by the region's growing manufacturing base, particularly in China and India. Furthermore, there are a lot of chances due to growing environmental consciousness and the move toward eco-friendly solvents. Methyl acetate is becoming more and more in demand in personal care and pharmaceutical applications. To position the area as a major hub for market expansion, businesses are concentrating on setting up regional production facilities, enhancing supply chains, and allocating funds for research and development in order to provide sustainable solutions.

The current report Scope analyzes Methyl Acetate Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Methyl Acetate

According to Cognitive Market Research, the global Methyl Acetate market size was estimated at USD 202.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 81.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Methyl Acetate market with a market size of USD 63.91 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Due to strict environmental rules that demand low-VOC solvents in coatings and adhesives, there is a significant demand for methyl acetate in the United States. Its increasing popularity as a sustainable paint and coating substitute is partly a result of the automotive and construction sectors.
• The Canada Methyl Acetate market had a market share of USD 9.72 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Methyl acetate is significantly influenced by Canada's increasing emphasis on sustainability and green chemistry.
• The Mexico Methyl Acetate market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 7.37 million in 2024.

Europe Methyl Acetate

According to Cognitive Market Research, the global Methyl Acetate market size was estimated at USD 202.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 60.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• The United Kingdom Methyl Acetate market had a market share of USD 10.21 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. Methyl acetate is becoming more and more popular in paints, coatings, and personal care products in the UK due to stringent environmental requirements and laws governing VOC emissions.
• The France Methyl Acetate market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 5.59 million in 2024.
• According to Cognitive Market Research, the German Methyl Acetate market size was valued at USD 12.03 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. Methyl acetate is mostly driven by Germany's innovative manufacturing sector and dedication to environmental sustainability.
• The Italy Methyl Acetate market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 5.22 million in 2024.
• The Russian Methyl Acetate market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 9.42 million in 2024.
• The Spain Methyl Acetate market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 4.98 million in 2024
• The Luxembourg Methyl Acetate market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 1.88 million in 2024.
• The Portugal Methyl Acetate market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 1.28 million in 2024.
• The Greece Methyl Acetate market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 0.73 million in 2024.
• The Rest of Europe's Methyl Acetate market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 9.42 million in 2024.

Asia Pacific Methyl Acetate

According to Cognitive Market Research, the global Methyl Acetate market size was estimated at USD 202.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 46.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Methyl Acetate market size was valued at USD 20.96 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Methyl acetate demand is mostly driven by China's fast industrialization, expanding automobile industry, and need for eco-friendly solvents.
• The Japan Methyl Acetate market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 6.43 million in 2024.
• The India Methyl Acetate market had a market share of USD 5.59 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. The demand for methyl acetate in coatings and adhesives is rising in India as a result of the country's expanding industrial base and expanding construction industry. Additionally, demand for safer, more environmentally friendly solvents is changing as a result of growing awareness of sustainability and environmental challenges.
• The South Korean Methyl Acetate market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 4.66 million in 2024.
• The Australian Methyl Acetate market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 2.42 million in 2024.
• The Southeast Asia Methyl Acetate market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 3.21 million in 2024.
• The Rest of Asia Pacific Methyl Acetate market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 3.31 million in 2024.

South America Methyl Acetate

According to Cognitive Market Research, the global Methyl Acetate market size was estimated at USD 202.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 10.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Methyl Acetate market size was valued at USD 4.33 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Methyl acetate consumption is being driven by Brazil's growing manufacturing industry and emphasis on sustainable products. The demand for non-toxic solvents in personal care products and an increase in building activities both contribute to the market's expansion.
• Argentina's Methyl Acetate market had a market share of USD 1.70 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. The need for methyl acetate in coatings and adhesives is being driven by Argentina's expanding automotive and construction industries. Its market rise is also being aided by environmental legislation and consumers' increasing demand for eco-friendly items.
• Colombia Methyl Acetate market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 0.90 million in 2024.
• Peru Methyl Acetate market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 0.83 million in 2024.
• Chile Methyl Acetate market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 0.73 million in 2024.
• The Rest of Latin America's Methyl Acetate market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 1.63 million in 2024.

Middle East and Africa Methyl Acetate

According to Cognitive Market Research, the global Methyl Acetate market size was estimated at USD 202.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 4.05 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031..

• The GCC Countries Methyl Acetate market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 1.73 million in 2024. The need for methyl acetate in paints and coatings is rising in GCC nations due to significant infrastructure developments and fast urbanization. The use of sustainable solvents like methyl acetate is also influenced by the region's regulatory trend towards greener chemicals and materials.
• The Egypt Methyl Acetate market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 0.43 million in 2024.
• The South African methyl Acetate market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 0.64 million in 2024. The expanding industrial sectors in South Africa, particularly the construction and automotive industries, are major factors propelling the methyl acetate market. The growing emphasis on environmental sustainability and compliance with international green legislation also increases the need for environmentally friendly solvents.
• The Turkey Methyl Acetate market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 0.35 million in 2024.
• The Nigeria Methyl Acetate market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 0.43 million in 2024.
• The Rest of the MEA Methyl Acetate market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 0.48 million in 2024.

Methyl Acetate Market Analysis

How are Segments Performing in the Global Methyl Acetate Market?

Methyl Acetate Market Grade Type Segment Analysis

According to Cognitive Market Research, Industrial Methyl Acetate is likely to dominate the Methyl Acetate Market over the forecast period. Because industrial methyl acetate is widely used as a solvent in many different industries, including paints, coatings, adhesives, and cleaning agents, there is an increasing need for this product. It is perfect for these uses due to its rapid evaporation rate, low toxicity, and broad dissolution range. Its demand is further increased by the growing trend toward environmentally friendly and low-VOC (volatile organic compound) solvents. The demand for industrial methyl acetate is also fueled by the expansion of the construction and automotive industries, as well as consumers' growing desire for sustainable products. As companies look for effective, ecologically friendly substitutes for conventional solvents, this trend is anticipated to continue.

Cosmetic Methyl Acetate is the fastest-growing segment in the Methyl Acetate Market. Because cosmetic-grade methyl acetate is used as a solvent in personal care items, including lotions, nail paint removers, and perfumes, there is a growing demand for it in the market. As customers and regulatory agencies place a greater emphasis on sustainability and safety, its low toxicity, pleasing odor, and environmentally friendly qualities make it a desirable substitute for conventional solvents. The demand for methyl acetate is being driven by the increased awareness of safe and natural components in cosmetics on a global scale. The need for premium, non-toxic solvents, such as cosmetic-grade methyl acetate, is anticipated to increase as the cosmetics sector grows, especially in emerging economies, supporting market expansion.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Methyl Acetate Industry. Request a Free Sample PDF!

Methyl Acetate Market Application Segment Analysis

According to Cognitive Market Research, the resin segment holds the largest share of the market. Because resins are widely used as an essential component in adhesives, paints, varnishes, and laminates, there is a strong demand for them in the methyl acetate market. Because they improve adhesion, durability, and resistance to environmental elements like moisture and UV radiation, resins improve the performance of these items. Further increasing the demand for resins is the expansion of the electronics, automotive, and construction sectors. A favorable outlook for resin demand in the methyl acetate market is also created by consumers' desire for sustainable solutions and environmental restrictions, which are in line with the growing preference for high-performance, low-emission products.

In the Methyl Acetate Market, the Coating & Paint has been expanding at a rapid pace. Since methyl acetate is frequently used as a solvent in coatings and paints because of its low toxicity and potent dissolving qualities, the market for this solvent is significantly influenced by consumer demand. The usage of methyl acetate in paint formulas has increased due to the global movement toward environmentally friendly and low-VOC (volatile organic compound) solvents. Methyl acetate is becoming more and more necessary as the demand for premium, environmentally friendly coatings in sectors like furniture, construction, and automobiles grows. Furthermore, the market potential is increased by the move to water-based paints and coatings since methyl acetate provides a good substitute for conventional solvents.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Methyl Acetate End User Outlook: Segment Analysis

Methyl Acetate Market End User Segment Analysis

According to Cognitive Market Research, The Chemical and Petrochemical segment holds the largest market share. Because it is an essential solvent in the synthesis of numerous compounds, such as adhesives, coatings, and plastics, methyl acetate is in high demand in the chemical and petrochemical sectors. It is a preferred option in manufacturing operations because of its exceptional liquidity, low toxicity, and environmentally beneficial qualities. The need for environmentally friendly and less dangerous solvents, such as methyl acetate, is growing as the petrochemical sector develops. Additionally, its expanding demand is supported by its application in the petrochemical sector as a cleaning agent and in the synthesis of other chemicals, especially as firms prioritize regulatory requirements and environmental compliance.

In the Methyl Acetate market, the rapidly growing sector is Oil and Gas. Because of their vital role in the production of important raw materials like methanol and acetic acid, oil and gas are in high demand in the methyl acetate market. Since natural gas and crude oil are the sources of these two components, the oil and gas sector is essential to the manufacture of methyl acetate. Changes in natural gas and crude oil prices have a big effect on methyl acetate's cost structure and market dynamics. The oil and gas industry continues to play a crucial role in guaranteeing a steady supply of these vital raw materials as the demand for methyl acetate rises globally in industries including automotive, paints, and coatings.

• Chemical and Petrochemical
• Oil and Gas
• Healthcare
• Others

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

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• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
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