USD 2.66 billion
Report ID: SQMIG15A2252 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 38 | Figures: 74
Ethyl Acetate Market size was valued at USD 2.66 billion in 2021 and is poised to grow from USD 2.9 billion in 2022 to USD 6.3 billion by 2030, growing at a CAGR of 9% in the forecast period (2023-2030).
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.
Global Market Size
USD 2.66 billion
Paints & Coatings
Paints & Coatings
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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%.
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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.
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Ethyl Acetate Market Driver
Significant Demand for Coatings
Ethyl Acetate Market Restraint
The rise in Demand for Water-Based Paints & Coatings
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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
Ethyl Acetate Market Recent Developments
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.
|Market size value in 2021||USD 2.66 billion|
|Market size value in 2030||USD 6.3 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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