Global Ethyl Acetate Market Size, Share & Trends Analysis Report By Distribution Channel, By Application (Paint & Coatings, Inks, Process Solvents, Pigments, and Others), By End-use By Regional Outlook and Forecast, 2023 - 2030

Global Ethyl Acetate Market Size, Share & Trends Analysis Report By Distribution Channel, By Application (Paint & Coatings, Inks, Process Solvents, Pigments, and Others), By End-use By Regional Outlook and Forecast, 2023 - 2030

The Global Ethyl Acetate Market size is expected to reach $8.5 billion by 2030, rising at a market growth of 6.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,369.2 Kilo Tonnes, experiencing a growth of 5.8% (2019-2022).

Ethyl acetate is used as a solvent in the production of coatings for artificial leather. Therefore, the artificial leather segment captured $263.5 million revenue in the market in 2022. It helps dissolve the coating ingredients, ensuring uniform application and adhesion to the synthetic leather substrate. It has a fast evaporation rate, which helps dry coatings on artificial leather quickly, increasing production efficiency.

The construction and automotive industries have experienced significant growth globally, driven by various factors such as urbanization, population growth, and infrastructure development. Additionally, as countries worldwide industrialize, they become major players in the global economy as producers and consumers of goods and services. Therefore, the increasing industrialization will support the expansion of the market in the coming years.

However, ethyl acetate is primarily derived from ethanol and acetic acid, both subject to price volatility based on factors such as supply-demand dynamics, weather conditions affecting crops, and geopolitical events. One of the main challenges posed by fluctuating raw material prices is the impact on production costs. Increases in ethanol and acetic acid prices directly translate to higher production costs for these manufacturers. Hence, these factors may result in slowed market growth.

By Distribution Channel Analysis

By distribution channel, the market is divided into offline and online. The offline segment garnered 76.6% revenue share in the market in 2022. Offline distribution channels offer personalized service, allowing customers to interact directly with sales representatives who can provide expert advice and guidance on product selection and usage.

By Application Analysis

Based on application, the market is characterized into paint & coatings, inks, process solvents, pigments, and others. The process solvents segment procured 15.9% growth rate in the market in 2022. Ethyl acetate is a highly effective solvent for a wide range of materials, including resins, polymers, fats, and oils. Its ability to dissolve these substances makes it valuable in various process applications, such as pharmaceuticals, textiles, and electronics.

By End Use Analysis

On the basis of end-use, the market is classified into artificial leather, automotive, food & beverage, packaging, pharmaceutical, and others. The automotive segment acquired 37.1% revenue share in the market in 2022. The use of ethyl acetate in the automotive industry is driven by its effectiveness as a solvent, environmental friendliness, cost-effectiveness, and versatility, making it a valuable component in the production of automobiles and automotive components.

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 48.1% revenue share in the market in 2022. The construction and automotive industries are major consumers of ethyl acetate for paints, coatings, adhesives, and sealants. The rapid urbanization and infrastructure development in countries like China and India are driving its demand in these sectors.

List of Key Companies Profiled

• Celanese Corporation
• Daicel Corporation
• Eastman Chemical Company
• INEOS Group Holdings S.A.
• Wacker Chemie AG
• Linde plc
• Sasol Limited
• Solvay SA
• Sipchem Company
• Tokuyama Corporation

Global Ethyl Acetate Market Report Segmentation

By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Offline
• Online

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Paint & Coatings
• Inks
• Process Solvents
• Pigments
• Others

By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Automotive
• Artificial Leather
• Food & Beverage
• Pharmaceutical
• Packaging

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Netherlands
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Australia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA