Global Propyl Acetate Market is projected to be valued $XX Billion by 2026; with a CAGR of 7.1% from 2019 to 2026. Propyl acetate is also known as propyl ethanoate which is an ester. It is a colorless liquid mainly used in fragrances and as a flavor additive. Normal propyl acetate is an organic compound. It is formed by the esterification (known as a condensation reaction) of acetic acid and 1-propanol often using Fischer–Speier esterification process. In this reaction, sulfuric acid acts as a catalyst and water is produced as a by-product. Propyl acetate is commonly found in apples. It is a flavoring agent. It belongs to the families of carboxylic acid esters.
An upsurge in the use of perfumes and other fragrances are the major factors supplementing the market growth. However, the high implementation cost of this technology and techniques & methods used for extraction and availability are the major hindrances for the growth of the market. Rising demand in young population around the world and corporate lifestyle would generate new opportunities for the market in the future years.
Grade, application, and geography are the various classifications of the global Propyl Acetate market. Agricultural & pharmaceutical grade, Mil spec, reagent & technical grade, and optical grade are the further bifurcations of the grade segment. The application segment is sub-segmented as food additives & ingredients, solvents, paints & coatings, and others.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the geographical splits of the market. The country-wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico wherein Europe covers UK, Germany, France, Italy, Russia, and Rest of Europe. China, Japan, India, South Korea, and Rest of Asia-Pacific are covered under the Asia-Pacific. Rest of the World (RoW) includes South America, the Middle East, and Africa.
Major Key players operating in the global market include Jayant Agro Organics, ITOH Oil Chemicals Co. Ltd., Bom Brazil, Liaoyang Huaxing Chemical Co., Kanak Castor Products Pvt. Ltd., Hokoku Corporation, Ltd., Gokul Overseas, Thai Castor Oil Industries Co. Ltd., and others.
The key takeaways from the report
Scope of the Global Propyl Acetate Market