Global Ethyl 3 Ethoxypropionate Market growing at a CAGR of 6.7% from 2023 to 2030
Category : Materials And Chemicals | Published Date : May 2023 | Type : Press Release
Key Market Overview
In 2022, the ethyl 3-ethoxypropionate market was USD 2,508.86 Million. According to Consegic Business Intelligence, the market is projected to grow with a CAGR of 6.7% to reach USD 4,184.65 million in 2030.
The report highlights the increasing adoption of Ethyl 3 Ethoxypropionate for industrial coatings including automotive, architectural, and wood industries. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Ethyl 3 Ethoxypropionate market.
Global Ethyl 3 Ethoxypropionate Market By Overview
The ethyl 3-ethoxypropionate market is bifurcated into purity, application, and end user. Based on purity segment, the market is segmented into less than 99% and more than 99%. In 2022, the less than 99% segment dominated the overall ethyl-3ethoxypropionate market. The application segment is categorized ink cleaners, cleaning agents, general industrial coatings, refinish painted film additives, initiator for PVC, photoresist coatings, wood coatings, appliance topcoats, polymerization solvents, and others. In 2022, the initiator for PVC segment accounted for the highest market share in the ethyl 3-ethoxypropionate market. The end user segment is categorized into automotive, paints & coatings, packaging, marine, and others. In 2022, the paints & coatings segment accounted for the highest market share in the ethyl 3-ethoxypropionate market.
Get Free SampleMarket Dynamics
Driver:
- The extensive application of ethyl 3-ethoxypropionate as a solvent for coating a wide range of polymers that are further deployed by various end use industries such as paints & coatings, and marine coatings, and architectural coatings is proliferating the market growth.
- Ethyl 3 ethoxypropionate is used to enhance the appearance and durability of automobiles along with providing protection against harsh environmental conditions including acid rain, and foreign particles. Hence, the rising need for automotive coating due to the growing automotive industry is contributing to the market growth.
Restraints:
- Presence of alternatives such as propylene glycol ether and diethylene glycol monobutyl are likely to hinder the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Purity | Less than 99% and More than 99% |
| By Application | Ink Cleaners, Cleaning Agents, General Industrial Coatings, Refinish Painted Film Additives, Initiator for PVC, Photoresist Coatings, Wood Coatings, Appliance Topcoats, Polymerization Solvents, and Others |
| By End-Use | Automotive, Paints & Coatings, Packaging, Marine, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Eastman Chemical Company, TCI Chemicals Pvt. Ltd., Honeywell International Inc., Merck KGaA, TCI Chemicals Pvt. Ltd. The Dow Chemical Company has a strong market position in current market circumstances. Further, the Ethyl 3 Ethoxypropionate market is expected to witness significant growth in coming years due to for growing demand for pesticides in order to protect crops from pests and to enhance crop production yield. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in Ethyl 3 Ethoxypropionate are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Merck KGaA
- Eastman Chemical Company
- TCI Chemicals Pvt. Ltd.
- SANKYO CHEMICAL CO. LTD.
- Honeywell International Inc
- The Dow Chemical Company
- abcr GmbH
- Thermo Fisher Scientific
- VWR International LLC.
- Jinan Qinmu Fine Chemical Co. Ltd.
