Global Ethyl Acetate Market Size study&Forecast, by End-use (Food & Beverage, Pharmaceutical, Automotive, Artificial Leather, Packaging, Others)and Regional Analysis, 2022-2029

Global Ethyl Acetate Market Size study&Forecast, by End-use (Food & Beverage, Pharmaceutical, Automotive, Artificial Leather, Packaging, Others)and Regional Analysis, 2022-2029

Global Ethyl Acetate Market is valued at approximately USD 5.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.8% over the forecast period 2022-2029. Ethyl Acetate is an organic compound used in numerous places such as agriculture, mining, construction and other sectors. It is a versatile component highly used as a hardener or activator in paint and coatings applications. Due to significant advantages such as excellent solvency power, low vitality, and low toxicity paint and coating are its largest end-users. It is majorly used as paints, varnishes, lacquers, cleaning mixtures, and perfumes. Moreover, various initiatives are taken by the government to fuel its demand because of a wide range of applications and the growing demand for Ethyl Acetate.

Ethyl Acetate is a key ingredient in several industries namely, in the production of adhesives, paint, ink, food and plastics. Its various properties make it an ideal choice, in 2022 the adhesive industry was the second largest end-use market accounting for approximately 28% of total demand. Various Government Initiatives for the ethyl acetate market, it is one of the least toxic and safe solvents for the environment are boosting the market. It has been used to successfully replace hazardous air pollutants (HAPs). The Nexant Solvent Sustainability IndexNSSI rating for ETAC is 49%, with its bio-renewable counterpart scoring 10 points better. The food industry accounts for 25.9% of the share in the market as ETAC also acts as a flavoring agent, adds fragrance and a sweet taste to food. Significant investments in Research & Development to develop products further and various developments by market players add to expanding the future growth of the ETAC market. ETAC has experienced above-average growth in the solvents sector due to a wider range of applications.However, the fluctuating prices of raw material of Ethyl Acetate stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Ethyl Acetate Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacificdominated the market with half of the revenue share in 2020. This is due to the growing population followed by a high construction rate and rising needforconsumer goods. This region has numerous manufacturing industries for ethyl acetate because of the rapidly growing automotive sector. In addition, China contributes a large share being the biggest exporter of ethyl acetate.Furthermore, the fastest-growing region is North America due to a rise in preference for synthetic leather products, the developing pharmaceutical industry, and several growing downstream industries.
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Major market player included in this report are:
INEOS Group Ltd.
Solvay SA
Eastman Chemical Company
Saudi International Petrochemical Company (Sipchem)
Sasol Limited
Daicel Corporation
Celanese Corporation
Jubilant Ingrevia Limited
Kanoria Chemicals & Industries Limited
Yip's Chemical Holdings Limited

Recent Developments in the Market:
In September 2021, Viridis Chemical, LLC, a producer of renewable chemicals started Phase II capital improvement for producing bio-based ethyl acetate.
In March 2021, Global chemical and specialty materials company Celanese Corporation recently announced that its chemical production facility in Clear Lake, Texas will start using recycled carbon dioxide (CO2) for methanol production.
In August 2019, Celanese Corporation Increased the price of ethyl acetate in the European market due to its growing benefits and demand.
Global Ethyl Acetate Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered End-use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and End-use offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End-use:
Food & Beverage
Pharmaceutical
Automotive
Artificial Leather
Packaging
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the WorldCompanies Mentioned
INEOS Group Ltd.
Solvay SA
Eastman Chemical Company
Saudi International Petrochemical Company (Sipchem)
Sasol Limited
Daicel Corporation
Celanese Corporation
Jubilant Ingrevia Limited
Kanoria Chemicals & Industries Limited
Yip's Chemical Holdings Limited

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