Ethyl Acetate Market: Global Industry Forecast (2022-2029) by Application, End-Use Industry, Distribution Channel and Region

Ethyl Acetate Market size was valued at US$ 1.24 Bn. in 2021 and the total Ethyl Acetate revenue is expected to grow by 8.4% from 2022 to 2029, reaching nearly US$ 2.36 Bn.
Ethyl Acetate Market Overview:
Ethyl acetate is generally utilized as a coatings solvent for paints, lacquers, and varnishes; a process solvent in the pharmaceutical sector; and a carrier solvent for printing inks, adhesives, and nail polish. It is also used in the production of synthetic leather and fragrances, as well as some home items such as aviation glue and paint and nail polish removers. Because of its fruity taste when diluted, ethyl acetate is particularly useful as a flavor enhancer in foods and medications. It is on the generally recognized safe list of the US Food and Drug Administration for use as a synthetic flavoring agent. Ethyl acetate is also permitted for use in certain packaging materials as an indirect food additive.
Report Scope:
The Ethyl Acetate market is segmented based on Application, End-Use Industry, Distribution Channel and Region. The growth of various segments helps our clients in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.

The bottom-up approach has been used to estimate the market size. Major Key Players in the Ethyl Acetate market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Ethyl Acetate market include Sigma-Aldrich Corp, Jubilant Life Science Ltd., Jinyimeng Group Co. Ltd., and Wood and Chemicals and Nippon. They are continuously strategizing on mergers and acquisitions, strategic alliances, joint ventures and partnerships for the growth of their market shares.To know about the Research Methodology:-Request Free Sample Report
Ethyl Acetate Market Dynamics:
Growing cosmetic importance of ethyl acetate is a major driver of market growth.

Manufacturers of ethyl acetate think it is one of the least hazardous to the environment. It is useful even though it is easily separated in both air and water. The manufacturing processes are carried out in a closed-loop system utilizing sustainable bioenergy, with as few toxicological effects as possible.

Ethyl acetate may be used as a gelling agent in the production of powders, fragrances, and other substances. Ethyl Acetate can be used in perfumes for a few components. One of the primary reasons ethyl acetate is utilized in perfumes is its ability to dissolve quickly on the skin, allowing the scent's aroma to stay on the skin and linger without leaving any undesirable residue like a slick or alcoholic buildup. Also, due to its pleasant, fruity perfume, ethyl acetate might contribute to the scent's aroma. Ethyl acetate is also a popular ingredient in tooth and mascara brightening solutions.

Price fluctuations of industrial solvents are a major opportunity for market growth.

The pandemic had a tremendous influence on the paint and coating industries. The impact on the sector is apparent, with raw materials accounting for over half of all costs in the industry. Within a year, the price of n-butanol, an essential chemical often used as a solvent, increased significantly. According to the British Coatings Federation (BCF), the price of n-butanol has nearly tripled. In one year, the price of n-butanol has risen from 750 EUR per ton to 2560 EUR per ton. In reality, this phenomenon has an impact on other companies that use n-butanol as a daily chemical.

While the paint and coating industries utilize n-butanol as their primary solvent, they may give different solvent lists that serve the same goal as n-butanol. For example, the business may decide to use alternative alcohol-based solvents, such as ethanol or ethyl alcohol that are frequently used in the paint and coating sector. They can also utilize solvents other than alcohol-based solvents. Other solvents used in the paint and coating business include acetate-based solvents such as ethyl acetate and butyl acetate, ketone-based solvents such as methyl ethyl ketone, and aromatic-based solvents such as xylene.

The toxicity and inherently hazardous nature of ethyl acetate is a major challenge in the market growth.

Ethyl acetate is a moderately common chemical that is found in a wide range of industrial and consumer applications. This chemical liquid is colorless and has a very sweet, pleasant odor. To avoid dangers, ethyl acetate should be kept and handled properly due to its possible hazards. Even though it is found in many common home items, ethyl acetate has the potential to be extremely dangerous if handled wrong, particularly in the case of inadvertent exposure. Ethyl acetate is highly flammable as well as poisonous when ingested or breathed, and repeated or extended exposure can be extremely harmful to internal organs. When ethyl acetate comes into contact with the eyes or skin, it can irritate.

Keeping ethyl acetate in a safe place away from any potential sources of ignition is the best course of action. This chemical is also moisture sensitive and should be stored in a sealed container in a cold, dry, well-ventilated environment. Oxidizing agents, acids, and alkalis should be kept away from incompatible materials. Ethyl acetate must be disposed of following federal, state, and local environmental management standards.
Ethyl Acetate Market Segment Analysis:
By End-Use Industry, the food and beverage segment is expected to grow at a CAGR of 7.1% during the forecast period. The growth prospects can be attributed to the growing utilization of a variety of food products, including fruits, dairy, meat, and vegetables, due to their low toxicity, pleasant odor, and low cost.

The pharmaceutical segment is expected to grow at a CAGR of 8.1% during the forecast period. Because of its poor purity, ethyl acetate is extensively utilized in the pharmaceutical business; it is also used for purifying and concentrating antibiotics. Because of its capability for processing heat-sensitive materials and inherent flexibility, solvent extraction finds various uses in the pharmaceutical business.



It is used in the car refinishing process, which entails restoring and repairing automobiles and other modes of transportation. Growing demand for old automobiles, as well as the constant adoption of new technologies, are some of the drivers fueling the growth of the automotive refinish coating industry, which will directly drive demand for ethyl acetate during the forecast period.

It has a wide range of applications in the artificial leather manufacturing process since the ethyl acetate solvent is essential in the leather production process. Because of increased demand for cruelty-free leather items such as belts, wallets, purses, clothes, and others, the global market for artificial leather is expected to grow significantly over the forecast period. Also, the increased need for solvent-based printing inks in flexible packaging is expected to drive market demand throughout the forecast period.
Ethyl Acetate Market Regional Insights:
In North America, ethyl acetate is mostly used to make printing inks, paints and varnishes, synthetic leather, and other products. The rising use of these items is likely to contribute to the growth of the region's ethyl acetate market. The increased need for easy and flexible packaging solutions for food and drinks in the United States is anticipated to drive ethyl acetate used in the country.

Europe is home to large industrial economies such as the United Kingdom, Germany, and France, which have a growing number of manufacturers and suppliers of autos, food and drinks, packaging solutions, and chemical goods. The existence of significant vehicle manufacturing plants in Europe boosts the region's need for ethyl acetate. The region's market growth may be due to the booming automotive, food and beverage, and artificial leather production sectors in important nations such as the United Kingdom, Germany, and France, among others. This is due to a growing consumer preference for cruelty-free products.The region's lifestyle patterns are changing as a result of the region's consistent economic boom and an increase in the number of middles- and upper-income consumers in nations such as Argentina, Brazil, Peru, and Chile. These factors have resulted in significant growth in demand for healthful and convenient Ready-To-Eat (RTE) food items. This, in turn, is predicted to boost the growth of the flexible packaging market, increasing the use of ethyl acetate solvent-based printing inks in the area. Additionally, the strong demand for paints and coatings in the automotive, furniture, and other sectors in countries such as the UAE, Kuwait, and Saudi Arabia is likely to boost ethyl acetate consumption.
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Ethyl Acetate Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.24 Bn.


Forecast Period 2022 to 2029 CAGR:
8.4%
Market Size in 2029:
US $ 2.36 Bn.


 Segments Covered:
by Application
• Adhesives
• Cosmetics
• Paints & Coatings
• Herbicides
• Others


by End-Use Industry
• Food and Beverage
• Pharmaceuticals
• Printing Inks
• Artificial Leather
• Packaging
• Others


by Distribution Channel
• Online
• Offline



Ethyl Acetate Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina and Rest of South America)
The Leading Companies in the Ethyl Acetate Market Are:
• Jubilant Pharmova Limited (India)
• Ashok Alco - chem Limited (India)
• Kanoria Chemicals & Industries Ltd. (India)
• GODAVARI BIOREFINERIES LTD. (India)
• Shandong Jinyimeng Group Co. Ltd. (China)
• Jiangsu SOPO (Group) Co., Ltd. (China)
• DAICEL CORPORATION (Japan)
• SHOWA DENKO K.K. (Japan)
• Nippon (Japan)
• KAI CO., LTD. (South Korea)
• Yip's Chemical Holdings Limited (Hong Kong)
• LCY GROUP (Taiwan)
• PT. Indo Acidatama Tbk (Indonesia)
• Celanese Corporation (US)
• Eastman Chemical Company (US)
• Innospec Inc (US)
• Solventis Ltd (UK)
• INEOS Group Limited (UK)
• Merck KGaA (Germany)
• Arkema Group (France)
• Sekab Biofuels & Chemicals AB (Sweden)
• Sipchem (Switzerland)
• Clarient AG (Switzerland)
• Solvay (Belgium)
• Sasol Ltd. (South Africa)

FAQs:

1. Which is the potential market for Ethyl Acetate in terms of the region?
Ans. North America is the potential market for Ethyl Acetate in terms of the region.

2. What are the opportunities for new market entrants?
Ans. Price fluctuations of industrial solvents are a major opportunity for market growth.

3. What is expected to drive the growth of the Ethyl Acetate market in the forecast period?
Ans. Growing cosmetic importance of ethyl acetate is a major driver of market growth.

4. What is the projected market size & growth rate of the Ethyl Acetate Market?
Ans. Ethyl Acetate Market size was valued at US$ 1.24 Bn. in 2021 and the total Ethyl Acetate revenue is expected to grow by 8.4% from 2022 to 2029, reaching nearly US$ 2.36 Bn.

5. What segments are covered in the Ethyl Acetate Market report?
Ans. The segments covered are Application, End-Use Industry, Distribution Channel and Region.