The India n-Propyl Acetate market is expected to further grow at a CAGR of 5.44% during the forecast period until FY2030.
n-Propyl Acetate is an ester of acetic acid and n-propanol. This compound is also known as propyl acetate and propyl ethanoate. It is a clear, colourless liquid with a distinct scent of raspberry and peaches. Direct esterification of 1-propanol and acetic acid that is heated in the presence of a powerful acid, such as sulfuric or methanesulfonic acid, is the main and most popular way to chemically produce n-propyl acetate. Although it is only sparingly soluble in water, n-propyl acetate is miscible with a wide range of common solvents, including alcohols, aldehydes, ketones, and glycol ethers. n-Propyl Acetate is a used majorly as a solvent in different industries. It is a solvent used in foods and additives as a flavoring agent and many other fragrances and perfumes. It has the ability to dissolve a variety of resins, including ethyl cellulose, styrene, nitrocellulose, and methacrylate resin, making it a highly effective solvent for industrial coatings and wood lacquers.
The product finds its application in printing, mainly used in flexographic and screen-printing inks. Furthermore, owing to its wide application in the cosmetics and fragrance industry, the demand for n-propyl acetate is anticipated to rise in the forecast period. Increment in the general income and growing awareness of self-grooming in the country is propelling the cosmetic industry substantially. This exponential growth in the cosmetic industry is driving the India propyl acetate market on a large scale. However, major share for this product goes to paint and coating industries while remaining is invested into other industries. Since the product finds its major use in the cosmetics industry, which is further used in multiple selfcare products is likely to push the n-Propyl Acetate market demand to new heights in India.
Based on the region, the n-Propyl Acetate market is segmented into West, South, North, and South. During the historic period of FY2015-FY2022, west India dominated the n-Propyl Acetate market. This region is anticipated to remain as the leading consumer in the forthcoming years as well owing to rapid consumption of n-Propyl Acetate as an industrial solvent in various industries situated in states like Gujarat and Maharashtra which includes, paints & coatings industry.
Based on end-use segment, the India n-Propyl Acetate market is segmented into Paints & Coatings, Personal Care & Cosmetics, Printing Ink and Others. Among these industries, Paints & Coatings is the leading segment and held a market share of roughly 50% in FY2022. Furthermore, due to the low- boiling point and high-evaporation rate of n-Propyl Acetate, it is widely used as a solvent in personal care & cosmetic industry.
There are no domestic players of India n-Propyl Acetate market as of now. Other major global players in the n-Propyl Acetate are OQ Chemicals GmbH, Solvay, Sasol, DOW chemicals, Eastman Chemical company, Showa Denko, Chang Chun Group, Zhejiang Jianye Chemical Co., Ltd, Nanjing Wujiang Chemical Co., Ltd., Yixing Kaixin Chemical Co., Ltd and others.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2030
Objective of the Study:
- To assess the demand-supply scenario of n-Propyl Acetate which covers production, demand and supply of n-Propyl Acetate market in India.
- To analyse and forecast the market size of n-Propyl Acetate in India.
- To classify and forecast India n-Propyl Acetate market based on end-use and regional distribution.
- To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of n-Propyl Acetate market in India.
To extract data for India n-Propyl Acetate market, primary research surveys were conducted with n-Propyl Acetate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India n-Propyl Acetate market over the coming years.
ChemAnalyst calculated n-Propyl Acetate demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of n-Propyl Acetate to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
- n-Propyl Acetate manufacturers and other stakeholders
- Organizations, forums and alliances related to n-Propyl Acetate distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as n-Propyl Acetate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, India n-Propyl Acetate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by End-use: Paints & Coatings, Personal Care & Cosmetics, Printing Ink, Others
- Market, by Sales Channel: Direct Sale and Indirect Sale
- Market, by Region: North India, South India, East India, West India
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.