India Ethyl Acetate Market: Global Industry Analysis and Forecast (2024-2030)

India Ethyl Acetate Market size was valued at USD 0.764 Billion in 2023 and the total India Ethyl Acetate market revenue is expected to grow at 8.07 % from 2024 to 2030, reaching nearly USD 1.126 Billion.

Ethyl acetate is a colorless, sweet-smelling organic compound used in different industries such as paints, coatings, pharmaceuticals, and food and beverage. Ethyl acetate acid is an ester complex that is synthesized from the esterification of ethanol and acetic acid in the presence of a strong acid.

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Ethyl acetate is utilized as a solvent for varnishes, finishes, cleaning, and nitrocellulose which drives the ethyl acetate in India. Ethyl acetic acid is employed as a nail polish remover and cleaning of electric circuit sheets which is another key driver for growth of the ethyl acetate in India. Low-purity Ethyl acetate can be utilized in pharmaceuticals, scents, printing inks, and foods. It can be utilized as a solvent for decaffeination of tea and coffee and in herbicides. Ethyl acetate is utilized in covering formulations for wood furniture, manufacturing of instruments, mining hardware, farming hardware, and marine equipment. A substitute for ethyl acetate is hamper the market growth and challenging for Indian ethyl acetate market. Methyl ethyl ketone (MEK) is a solvent used as a substitute for ethyl acetate in some applications. It has a similar solubility range and capacity like ethyl acetate that used in some coatings, adhesives, and paints. MEK is used as a solvent for various synthetic polymers in India, including vinyl acetate, polyvinyl alcohol, and acrylics.

The India Ethyl Acetate market is expected to significantly grow in the increasing demand for solvents and the growth of the pharmaceutical and food industries in India. The growth of India's construction and automotive industries is expected to drive the demand for ethyl acetate during the forecast period. The high growth in demand for ethyl acetate in India is primarily driven by growth in packaging, infrastructure, agriculture, healthcare, and consumer segments. In pharmaceutical products, the major key players like Dettol, and Patanjali lead the India ethyl acetate market. Same as in the cosmetic industries like Nykaa and Myntra, who lead the cosmetic market they used the major amount of ethyl acetate.
India Ethyl Acetate Market Dynamics:
Rising Demand in Various Industries for India Ethyl Acetate Market

The high growth in demand for ethyl acetate in India is primarily driven by growth in packaging, infrastructure, agriculture, healthcare, and consumer sectors. The paint and coatings industry are driver of the demand for ethyl acetate in India. The Indian paint industry, worth over USD 7.98 billion in 2023, is globally one of the fastest-growing paint economies, with over 3,000 paint manufacturers and all global majors present in the Indian ethyl acetate market. The growth of the construction industry has led to an increase in demand for paints and coatings and boosted the demand for ethyl acetate as a solvent. India is a key exporter of packaging materials in the global market.

The export of ethyl acetate packaging materials from India expected to grow at a CAGR of 8 %. In India Ethyl Acetate Market, the demand for artificial leather is increasing in the automotive industry, so growth in the demand for artificial leather is expected to grow during the forecast period for instance, The auto industry produced approx. 2.5 million vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and cars from April 2022 to March 2023.

The new beauty and personal care products, including nail polish removers and perfumes, highlight the importance of ethyl acetate as a key ingredient and growing the demand and growth during the forecast period. The main factor of ethyl acetate is to dissolve various substances with pleasant fragrances making it an attractive choice for formulators looking to meet consumer preferences for both efficacy and sustainability. Cosmetic product trends are producing significant opportunities in the ethyl acetate market. The Indian ethyl acetate market is expected to grow by increasing demand for ethyl acetate in cosmetics and personal care products, textiles, printing inks, and others. For the cosmetic product, the major key players like Nykaa, Kaybeuty, Sugar cosmetics, and others are in high demand in India.

Environmental Impact on Ethyl Acetate Market

The rising demand for eco-friendly and sustainable solutions has encouraged green solvents demand and work as an opportunity. Ethyl acetate reputation for having a minimal environmental footprint in comparison to alternative solvents positions it exceptionally well within the growing trend towards eco-friendly choices. As industries place an increasing emphasis on adopting environmentally responsible options, the ethyl acetate market emerges as a leading solvent in numerous applications, combining excellent performance with its eco-friendly characteristics. This dual advantage makes ethyl acetate a prominent choice for those seeking to balance efficiency and sustainability in their processes. These combined trends in cosmetics and sustainability position ethyl acetate for substantial ethyl acetate market growth, as it satisfies the dual demands of product innovation and environmentally conscious production.
India Ethyl Acetate Market Segment Analysis:
By Application, ethyl acetate is widely used in pharmaceuticals and cosmetic products, the share of this product in India ethyl acetate market has contributed more than 30%. India has a significant biodiversity and transitional medicine system that drives the pharmaceutical products like sanitizers, cleansers, and other products market. Cosmetic products like nail paint removers, perfumes, and others have high amounts of ethyl acetate that increase the demand for ethyl acetate and drive growth during the forecast period. The Paints & Coatings sub-segment holds a significant share of the market, due to its low toxicity, odourless, and increased usage in the manufacture of paints, coatings, and varnishes. The Food and Beverage sub-segment held leading shares of higher utilization of ethyl acetate as a Flavor enhancer and Flexible packaging.

Based on the regional segment, the India Ethyl Acetate Market is sub-segmented into North India, South India, East India, and West India. In terms of profits, West India has a share of the Ethyl Acetate Market due to the low production cost of Ethyl Acetate and the growth in large-volume exports of Ethyl Acetate by West India. The need for ethyl acetate in West India has been increasing at a higher rate in 2023. Food and beverage, furniture, and automotive are the main end-user industries that occupy substantial shares in the utilization of ethyl acetate in the region. So, the West India market is expected to surge at a rapid pace during the forecast period. North India and East India also held a substantial share of the India Ethyl Acetate Market and these regions are likely to enlarge at an adequate pace throughout the forecast period.



Competitive Landscapes:

Celanese Corporation Increasing its Ethyl Acetyls and Engineered Materials ranges to now offer more sustainable options across approximately 60% of its product lines. Preparing for the 2024 launch of its Carbon Capture and Utilization Project using recycled CO2 to make methanol that can be used to lower the carbon footprint for most of its Acetyl Chain product options. IOL chemicals and pharmaceuticals enhancement capacity of Paracetamol by 1,800 MTPA to take total capacity to 3,600 MTPA with Backward integration of Para Amino Phenol (PAP) and capacity enhancement to boost volume growth from next quarter onwards. The Company’s product portfolio includes APIs; Ibuprofen, Metformin, Lamotrigine, Pantoprazole, Paracetamol, and specialty chemicals such as Ethyl Acetate, Iso Butyl Benzene, Mono Chloro Acetate and Acetyl Chloride which are other forms of ethyl acetate.
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India Ethyl Acetate Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 0.764 Bn.


Forecast Period 2024 to 2030 CAGR:
8.07%
Market Size in 2030:
US $ 1.126 Bn.


 Segments Covered:
by Application
Paints and coating
Medicines
Cosmetics Products
Automobile Parts
Food
others


by End User Industries
Food and Beverages
Pharmaceuticals
Packaging
Cosmetic
others



India Ethyl Acetate Market, by Region
North India
South India
West India
East India
India Ethyl Acetate Market Key Players:
1. Celanese Corporation (Maharashtra, India.)
2. Eastman Chemical Company (Maharashtra, India.)
3. Laxmi Organics (Maharashtra, India.)
4. Alpha Chemika (Maharashtra, India.)
5. Triveni Chemical (Maharashtra, India.)
6. Ashok Alco chem Limited (Maharashtra, India.)
7. GODAVARI BIOREFINERIES LTD. (Maharashtra, India.)
8. Eastman Chemical Co. (Maharashtra, India.)
9. Sasol Ltd (Gujarat, India)
10. INEOS Styrolution India Ltd (Gujarat, India)
11. GNFC (Gujarat, India)
12. Solvay (Gujarat, India)
13. Jubilant Life Sciences (Uttar Pradesh)
14. Lonza (Gurgaon, Haryana)
15. IOL chemicals and Pharmaceuticals (Punjab, India)
16. JUBL (Noida)
17. Choice Organochem (Hyderabad)
18. PT. Indo Acidatama Tbk (Delhi)
19. Merck KGaA (Bengaluru India)
20. Sigma-Aldrich Corp. (Bengaluru India)
21. Kanoria Chemicals & Industries Limited (Kolkata)
22. Nippon (Vadamadurai, Coimbatore)

FAQs:
1. Which region has the largest share of India Ethyl Acetate Market?
Ans. The northern region of India holds the largest share of India Ethyl Acetate Market.

2. Which industry is expected to increase the demand for India Ethyl Acetate?
Ans. The pharmaceuticals industry and cosmetic industries are expected to grow in India Ethyl Acetate Market during the forecast period.

3. What are the most established players of the India ethyl acetate?
Ans. Celanese Corporation, Laxmi Organics, Solvay, and INEOS Styrolution India Ltd are the most established players of the India ethyl acetate.

4. What is the projected market size & and growth rate of the India Ethyl Acetate Market?
Ans. The India Ethyl Acetate Market size was valued at USD 0.764 Billion in 2023 and the total Halal Food revenue is expected to grow at a CAGR of 8.07% from 2024 to 2030, reaching nearly USD 1.126 Billion.

5. What segments are covered in the India Ethyl Acetate Market report?
Ans. The segments covered in the India Ethyl Acetate Market report are Applications and End-use.