USD 2.66 billion
Global Ethyl Acetate Market Size, Share, Growth Analysis, By Application(Paints & Coatings, Printing Ink) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2252 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
38 |
Figures:
74
Global Ethyl Acetate Market Insights
Ethyl Acetate Market size was valued at USD 2.66 billion in 2019 and is poised to grow from USD 2.9 billion in 2023 to USD 6.3 billion by 2031, growing at a CAGR of 9% in the forecast period (2024-2031).
Along with these expanding online food enterprises, the size of the ethyl acetate industry is also expanding due to e-retail companies. Food manufacturing facilities use ethyl acetate because there are numerous food items on the market that require fake food essences. As a result, the food sector plays a significant role in the ethyl acetate market's expansion. The demand for artificial tastes in various food products also has a significant influence on the world market for ethyl acetate. Due to the extensive range of uses for ethyl acetate and the rising demand for it across several sectors, the ethyl acetate market will experience favourable expansion during the projected period.
US Ethyl Acetate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Paints & Coatings
Fastest Growth
Paints & Coatings
Growth Rate
9% CAGR
Global Ethyl Acetate Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Ethyl Acetate Market Size by Application, 2021-2028 ($ Bn)
Global Ethyl Acetate Market Size by Application, 2021-2028 (%)
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Global Ethyl Acetate Market Segmental Analysis
The Global Ethyl Acetate Market is segmented based on the Application and Region. Based on the Application, the Global Ethyl Acetate Market is segmented as Paints & Coatings, Printing Ink, Process Solvents, Food & Beverage, and Others. Based on Region Ethyl Acetate Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Ethyl Acetate Market Analysis by Deployment Type
More than half of the ethyl acetate used worldwide is in the paint and coatings sector. The sector is growing, particularly in developing nations, and this is anticipated to drive the worldwide ethyl acetate market throughout the projection period. The second and third greatest shares belong to the categories for printing inks and process solvents. Applications in the food and pharmaceutical industries are anticipated to grow at brisk rates. A single-digit market share of ethyl acetate is accounted for by adhesive and other uses. The 99% grade is the one that is most frequently utilized in a range of applications out of the three grades: 85%, 99%, and 99.5%.
Global Ethyl Acetate Market Share By Application, 2021 (%), 2023 (%)
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Global Ethyl Acetate Market Regional Insights
In 2021, the Asia Pacific ethyl acetate market had a value of USD 2,312.3 million, thanks to nations like China, India, Indonesia, Taiwan, and others. For this market, China is the world's leading manufacturer and exporter. The most typical method of manufacture involves the esterification of ethanol with acetic acid in the presence of a catalyst. The main source of ethanol in India, which aids in the country's large-scale production of ethyl acetate, is sugarcane molasses. India sells a lot of goods to Europe. Indonesia, Thailand, Vietnam, and other South Asian nations are also seeing strong development. The main growth-promoting industries in these nations are adhesives, printing inks, and coating solvents. The second-largest ethyl acetate market share belongs to Europe.
Global Ethyl Acetate Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Ethyl Acetate Market Dynamics
Ethyl Acetate Market Driver
Significant Demand for Coatings
- The main user of ethyl acetate is the paints and coatings sector. For many industrial lacquers and enamels, it is the perfect solvent. The formulation of coatings such as urethanes (99.5% grade), epoxies, acrylics, vinyl, and others frequently uses it. Additionally, a variety of other sectors, including construction, agriculture, wood furniture, maintenance, marine, automotive (for refinishing), and others employ these coatings in a broad range of applications. Additionally, it is utilized in photographic films. Additionally, it is substantially less expensive than other competing solvents used in comparable applications. Its vast range of uses and applications set it apart from other solvents on the ethyl acetate market and contribute to its popularity. Therefore, end-user applications and a high need for coatings are what drive demand.
Ethyl Acetate Market Restraint
The rise in Demand for Water-Based Paints & Coatings
- The need for environment-focused policies has increased due to the global rise in environmental consciousness. To lessen the negative effects of dangerous substances on the environment, policymakers have begun establishing and implementing strict environmental standards. As a result, water-based alternatives are steadily gaining market share from solvent-based paints and varnishes. Users should avoid using solvents in paint and coating applications because of their volatility. The introduction of stronger rules in the upcoming years may further impair the demand for it, slowing the market's growth.
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Global Ethyl Acetate Market Competitive Landscape
The Global Ethyl Acetate market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase ethyl acetate market share and profitability.
Ethyl Acetate Market Top Player's Company Profiles
- Eastman Chemical
- INEOS Group Holdings SA
- Solventis Limited
- Sasol Ltd.
- Celanese
- Showa Denko K.K.
- Jubilant Life Sciences Limited
- Wacker Chemie AG
- Ashok Alco-Chem Ltd.
- LCY Chemical Corp.
- Sipchem
- Jiangsu Sopo (Group) Co., Ltd.
- Shanghai Wujing Chemical Co., Ltd.
- Daicel Corporation
- Rhodia Acetow GmbH
- Nippon Synthetic Chemical Industry Co., Ltd.
- Saudi International Petrochemical Co.
- Carbohim d.o.o.
- Avantium N.V.
- Tokuyama Corporation
Ethyl Acetate Market Recent Developments
- In March 2021, Celanese Corporation announced that its Clear Lake, Texas, chemical production facility would begin using recycled carbon dioxide (CO2) as a replacement feedstock for the production of methanol, a necessary raw material in the production of a variety of acetyl products, including acetic acid, vinyl acetate monomer (VAM), ethyl acetate, and other derivatives.
- In February 2021, after a predetermined turnaround, Sipchem Chemicals (SCC), a subsidiary of Sahara International Petrochemical (Sipchem), reactivated its ethyl acetate production. The firm will be able to produce more ethyl acetate thanks to the new plant.
Global Ethyl Acetate Key Market Trends
- In the food industry, ethyl acetate is frequently used as a solvent and as an artificial flavour enhancer in ice cream, cakes, and confectionery items. As demand for decaffeinated beverages is rising at healthy rates, ethyl acetate solvent is being used more often to decaffeinate tea and coffee. In emerging nations all around the world, the food business is expanding quickly due to increased disposable income and technological innovation. As the price of the product drops dramatically, there is an increasing demand for processed foods flavoured with artificial flavours. This has an influence on the consumption of these items in emerging nations where the cost issue is more prominent.
Global Ethyl Acetate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Ethyl Acetate Market Analysis, the market is anticipated to increase over the projected period due to the end-user industries' increasing demand for ethyl acetate. Because of its performance, low toxicity, low odour, and cheap cost, ethyl acetate is used as a hardener and activator in paints and other coatings such as cellulose, vinyl, epoxies, and acrylics. The use of the coating in the building, mining, agricultural, and other industries will increase the need for ethyl acetate. Additionally, the market will benefit from ethyl acetate's numerous uses in the food and beverage sector.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.66 billion |
| Market size value in 2031 | USD 6.3 billion |
| Growth Rate | 9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Ethyl Acetate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Ethyl Acetate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Ethyl Acetate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ethyl Acetate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Ethyl Acetate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Ethyl Acetate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Ethyl Acetate Market Report Snapshots
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