LONDON--(BUSINESS WIRE)--The global butyl acetate market is expected to post a CAGR of close to 3% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor that will drive the market is the increase in demand from developing countries. India, China, Brazil, Mexico, the Philippines, and Indonesia are the key contributors to the global butyl acetate (BAC) market. Many manufacturers are shifting their facilities to these countries due to factors such as the easy availability of raw materials and land, cheap labor, low transportation costs, and relaxed government regulations and policies.
This market research report on the global BAC market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the fast-paced growth of medical tourism as one of the key emerging trends in the global BAC market:
Global butyl acetate market: Fast-paced growth of medical tourism
Growing investments in medical tourism and increasing budget allocation for health and safety have led to disruptive innovations in developing countries such as India and Brazil. In the medical industry, BAC is widely used as a solvent and extraction agent for manufacturing pharmaceutical products. Pharmaceutical manufacturers in APAC are focusing on expanding their reach and identifying strategies to introduce high-quality products.
“Many medical research companies in developed economies are investing heavily in R&D for product innovation and studies in emerging disease profiles. The emerging trend of medical tourism in the healthcare sector will have a significant influence on the global BAC market during the forecast period,” says a senior analyst at Technavio.
Global butyl acetate market: Segmentation analysis
This market research report segments the global butyl acetate market by application (paints and coatings and others) and geographical regions (APAC, Europe, ROW, and North America).
The paints and coatings segment dominated the market with a market share of 86% in 2017, which is expected to increase by close to 1% over the forecast period.
APAC led the market in 2017 with a market share of 57%, followed by North America, Europe, and ROW respectively. The market share of APAC is expected to increase by a further 2% over the forecast period while the other three regions will see a small decrease in their respective market shares.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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