Amyl Acetate Market By Type (Natural, Synthetic) , By Application (Paints and Coatings, Flavours and Fragnances, Cleaning, Leather polishes, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Amyl Acetate Market
The amyl acetate market was valued at $193.2 million in 2023 and is projected to reach $404.6 million by 2033, growing at a CAGR of 7.7% from 2024 to 2033.
Amyl acetate, also known as pentyl acetate or banana oil, is an organic ester that is naturally present in some plants or is formed by a chemical reaction between acetic acid and amyl alcohol. It is a colorless liquid with slight solubility in water and high solubility in organic solvents such as ether, ethanol, and chloroform. The ester is characterized by its sweet & fruity aroma, hence it is a key ingredient in fragrances and solvents. Furthermore, it is used in certain pharmaceutical formulations such as ointments, creams, and inhalants.
Rise in the popularity of personal care products with fruity smells has fueled the incorporation of the compound in cosmetics and perfumes, which acts as a key driver of the amyl acetate market. In addition, expansion of the printing industry is propelling the growth of the market due to the critical role of amyl acetate in the production of flexographic inks and gravure printing. In recent times, the usage of amyl acetate in the chemical industry to develop bio-based formulations is trending. As the ester is easily extractable from plant sources, it is considerably being utilized in green chemistry, which helps manufacturers reduce the environmental impact and toxicity of their products.
However, rise in inclination toward natural amyl acetate has resulted in fluctuating prices and disruptions in the supply chain due to challenges associated with its extraction, which is restraining the growth of the market. Moreover, compliance with the stringent regulations regarding the use of amyl acetate in foods, beverages, and cosmetics is a time-consuming process that hampers the market development. On the contrary, expansion of the automotive industry is expected to present remunerative opportunities for the amyl acetate market as the ester is a crucial element of automotive coatings. According to S&P Global Mobility—a leader in automotive intelligence—88.3 million new vehicles are expected to be sold in 2025. Therefore, several new avenues are poised to open for the amyl acetate market.
Segment ReviewThe amyl acetate market is segmented into type, application, and region. On the basis of type, the market is bifurcated into natural and synthetic. Depending on application, it is classified into paints & coatings, flavors & fragrances, cleaning, leather polishes, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the synthetic segment is expected to be the highest shareholder from 2024 to 2033.
Depending on application, the flavors & fragrances segment is anticipated to acquire a significant share of the market during the forecast period.
Region wise, North America is projected to be the highest revenue generator by 2033.
Competition AnalysisThe major players in the global amyl acetate market include Eastman Chemical Company, Dow Inc., BASF SE, Solvay, Sasol Limited, INEOS Group, Merck KGaA, Celanese Corporation, ShanDong Fine Chemical Co., Ltd., and OQ Chemicals GmbH. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeNatural
Synthetic
By ApplicationPaints and Coatings
Flavours and Fragnances
Cleaning
Leather polishes
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersEastman Chemical Company
Dow Inc.
BASF SE
Solvay
Sasol Limited
INEOS Group
Merck KGaA
Celanese Corporation
ShanDong Fine Chemical Co., Ltd.
OQ Chemicals GmbH