The global Ethyl Acetate market reached a value of about 4.16 MMT in 2021. The industry is projected to grow at a CAGR of around 4.5% in the forecast period of 2022-2027 to reach a value of about 5.23 million metric tonnes by 2027.
The global Ethyl Acetate industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The industry is being driven by the construction sector's rising demand for paints and coatings. It finds application in Cleaning, removing nail paints, and coating, further propelling the market. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.
The organic substance is ethyl acetate (systematically ethyl ethanoate, frequently abbreviated EtOAc, ETAC, or EA). This white liquid, which smells like pear drops and is used in glues, nail paint removers, and the decaffeination of tea and coffee, is used in adhesives, nail polish removers, and decaffeination. The acetate ester generated between acetic acid and ethanol is ethyl acetate, produced in enormous quantities for use as a solvent. It is a volatile organic compound with an acetate ester, an ethyl ester, and an acetate ester. It is highly flammable and miscible in all common organic solvents (alcohols, ketones, glycols, and esters) but only mildly miscible in water. Cleaning, paint removal, and coatings are popular uses for this chemical. The Ethyl Acetate industry report comprises segments by application (Paints & Coatings, Adhesives, Inks, Pharmaceuticals) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
The Asia Pacific region holds a significant share of the industry due to the rising industrialisation in the area. Additionally, effective growth rates are predicted throughout the Asia Pacific due to rising family incomes and urbanisation rates in countries like China, India, and Malaysia. This may be ascribed to increased urbanisation and research and development for the manufacturing of technologically superior items at a reasonable cost. The presence of multiple ethyl acetate manufacturing in the region is also a crucial factor in the market's expansion.
The market is primarily being driven by the paints and coatings segment. Paints employ ethyl acetate as an activator or hardener. It is utilised in coatings, adhesives, and rayon as an industrial solvent, mostly to dissolve the substance, and is also used as a frequent element in surface-coating lacquers, varnishes, and thinners. The coatings are applied to industrial objects to adorn and protect them. As a result, the market is witnessing rapid growth. Moreover, the increasing demand for epoxy coatings in the food and beverage and aerospace industries worldwide is likely to boost ethyl acetate demand over the projection period.
However, factors such as Fluctuating raw material prices, health-related severe effects, and replacing traditional coatings with water-borne and high-solid coatings are expected to hamper the market growth.
The global Ethyl Acetate industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Ethyl Acetate regions, such as engagement models, agreement terms, and consumer and seller negotiation controls, among others.
The traditional Fischer esterification process of ethanol and acetic acid is used to make ethyl acetate in industry. This combination changes to the ester at room temperature about 65 percent of the time. Acid catalysis can speed up the process while removing water from the equation can move the equilibrium to the right. In industry, it's made by mixing two equivalents of acetaldehyde in the presence of an alkoxide catalyst using the Tishchenko reaction. By alkylation of acetic acid with ethylene, silicotungstic acid is utilised to make ethyl acetate.
The product finds extensive application in a wide range of industries, such as in the automobile sector; ethyl acetate solvents are utilised in car care products propelling the industry's expansion. The solvents are also employed in the pharmaceutical industry for chromatographic separation, resulting in a steady market. Furthermore, they are utilised to improve the flavour of food and beverages, furthering the product demand. It is mainly used as a flavour enhancer in various foods and drinks, including coffee, tea, and confectionery. It has a pleasant aroma and is used to flavour gum, baked goods, candies, and other products. Because of its capability for processing heat-sensitive materials and inherent flexibility, solvent extraction finds various uses in the pharmaceutical business. Ethyl acetate is also used to produce alcoholic drinks like wine and beer. It's also used in tobacco production, less caffeinated tea leaves, and caffeine-free coffee. It is utilised as an extract to purify antibiotics during testing and Cleaning. Furthermore, ethyl acetate is a critical component in the leather business, and it's used to make leather purses, belts, wallets, and other accessories. In addition, the rising demand for Flexible packaging solutions is creating new opportunities for manufacturers.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The market is somewhat fragmented, with a few significant firms controlling a substantial portion of the industry. These businesses are involved in producing ethyl acetate in bulk, which is subsequently distributed across the world. Furthermore, these businesses are always active in mergers and acquisitions to expand their consumer base and enter new markets across the globe. To increase their market position in the worldwide ethyl acetate industry, leading companies are currently focusing on adopting new technology, product developments, mergers and acquisitions, joint ventures, alliances, and partnerships.
1. Executive Summary
2. Global Ethyl Acetate Market Snapshot
2.1. Ethyl Acetate Market Outlook
2.2. Ethyl Acetate Industry Analysis by Application
2.2.1. Paints & Coatings
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Ethyl Acetate Value Chain Analysis
5. Ethyl Acetate Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Ethyl Acetate Cost Structure
9. Ethyl Acetate Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Ethyl Acetate Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry Best Practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. Jiangmen Handsome Chemical Development Ltd.
15.2. Jiangsu Sopo (Group) Co., Ltd
15.3. Shanghai Huayi Acrylic Acid Co., Ltd
15.4. Jiangsu Lianhai Biological Technology
15.5. Jinyimeng Chemical Group Co., Ltd
The global Ethyl Acetate market size was valued at 4.16 MMT in 2021.
As per the application provided, the Paints & Coatings segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for paints and coatings in the construction segment is one of the essential drivers of the Ethyl Acetate market growth.
Jiangmen Handsome Chemical Development Ltd., Jiangsu Sopo (Group) Co., Ltd., Eastman Chemical Company, INEOS Group, and Sekab Biofuels & Chemicals AB are some of the key companies in the market.
The Asia Pacific region of the Ethyl Acetate industry holds a significant share in the market.
The global Ethyl Acetate market attained a value of 4.16 MMT in 2021, driven by the construction sector's rising demand for paints and coatings. Furthermore, the need for solvents in the automotive industry is further propelling the industry's expansion. Owing to its various properties, the substance is employed in a wide range of industries such as packaging, food, and beverage, among others driving sales in the sector. As a result, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.5%. The market is projected to reach 5.23 million metric tonnes by 2027.
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