Decorative Laminates Market likely to grow at CAGR of 3.3% from 2019 to 2025

16/feb/2021 08:30:01 Grand View Research Contatta l'autore

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According to a report, “Diethylene Glycol Monobutyl Ether Acetate Market Size, Share & Trends Analysis Report By Application (Paints, Coatings & Inks, Cleaning Agents), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2019 - 2025”, published by Grand View Research, Inc. The global diethylene glycol monobutyl ether market size is expected to reach USD 153.7 million by 2025, registering a CAGR of 3.3%, as per a new report by Grand View Research Inc. Diethylene glycol monobutyl ether acetate is popularly known as 2-(2-butoxyethoxy) ethyl acetate and has a mild odor and it soluble in acetone, ethyl ether, ethanol, water, and most of the other organic liquids. The product is commonly used as a solvent for oils, gums, polymeric coating, resins, and as a plasticizer in printing inks, coatings and lacquers, and high-bake enamels.

Multiple regulatory bodies have rolled-out stringent regulations on the use of toxic and volatile solvents in the formulation of paints and coatings. Furthermore, the growing demand for market products in the manufacturing of low VOC paints as latex coalescent is anticipated to propel the market expansion over the forthcoming period.

Rise in consumer spending ability across the emerging countries in Asia Pacific region, such as Indonesia, China, and India, is contributing to rapid demand for machines, devices, and electronic gadgets. In Asia Pacific, China is the largest manufacturer of consumer electronics such as smartphones and laptops, followed by Taiwan and Singapore. The widespread electronics manufacturing activities are propelling the demand for cleaners in the industry.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/diethylene-glycol-monobutyl-ether-market

Diethylene Glycol Monobutyl Ether Market Report Highlights 

1.     

·         The ongoing Covid-19 pandemic situation has led to deteriorated demand for coatings and paints in construction, automotive, electronics, and white goods. Also, the increasing raw material costs have created pressure on the industry manufacturers.

·         Sharp rise in epoxy resin costs since March 2020 has created supply bottleneck paint among coatings manufacturers in Europe and the UK. The German Paint and Printing Inks Association says that the polyester resin prices have welled up, but the market is will witness prominent demand from industrialized economies in Western Europe such as France, Germany, Italy, and Russia

·         The American Conference of Governmental Industrial Hygienists declared permissible limits of 10 ppm as that by the Occupational Safety and Health Administration (OSHA).  Considering such regulations, companies such as BASF have incorporated the adoption of formic acid as a new alternative to diethylene glycol monobutyl ether acetate, which is considered more environment-friendly and comparatively efficient

·         On January 31, 2020, Australia revised the legislative package for the National Standard for Environmental Risk Management of Industrial Chemicals (the National Standard) draft for the initiation of public consultation on the proposed charges for the Australian Industrial Chemicals Introduction Scheme (AICIS)

·         The paints, coatings, and inks segment held a revenue share of 68.7% in 2018 owing to an increasing rate of renovation activities across parts of North America and Western Europe 

·         North America is a prominent market for electronic devices and products such as laptops, cellphones, computers, and home entertainment gadgets which has surged the utilization of cleaning solvents. The North America market is projected to witness a CAGR of 2.8% by 2025

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