Ethyl Acetate Market Forecasts to 2028 – Global Analysis By Type (Coarse Ethyl Acetate (EA), Pure Ethyl Acetate (EA)), Application (Adhesives and Sealants, Flavor Enhancer), End User (Artificial Leather, Automotive) and By Geography

Ethyl Acetate Market Forecasts to 2028 – Global Analysis By Type (Coarse Ethyl Acetate (EA), Pure Ethyl Acetate (EA)), Application (Adhesives and Sealants, Flavor Enhancer), End User (Artificial Leather, Automotive) and By Geography

According to Stratistics MRC, the Global Ethyl Acetate Market is accounted for $4.0 billion in 2021 and is expected to reach $9.64 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Ethyl acetate is a colorless, highly soluble substance used by all organic solvents such as glycols, ketones, alcohols, and esters. It is a liquid substance with physical property similar to aromatic odor, best identified for glues and the removal of nail paints. This product is often used as a solvent for cleaning, removing nail paints, and coating. Ethyl acetate, also known as ethyl ethanoate, is an organic ester compound with the chemical formula C4H8O2. Additionally, it is known as acetic ether or acetic ester.

Market Dynamics:

Driver:

Increase in Demand for Flexible Packaging

Flexible packaging is highly flexible, available in several sizes, costs less, has a long shelf life, and can be recycled and therefore, it is widely employed in the packaging industry. These benefits make flexible packaging a preferred type of packaging in many industries. Companies are spending more on packaging to achieve differentiation owing to rising consumer awareness and a growing focus on building brand image. Hence, the rising demand for flexible packaging drives the ethyl acetate market. Ethyl acetate is extensively used as a solvent for high-resolution printing inks and laminated adhesives and is employed in numerous types of flexible packaging and plastic films owing to its rapid evaporation property. Ethyl acetate is used in the solvent cast process to manufacture flexible packaging films.

Restraint:

High Cost & Health risk

The high cost of raw materials is one of the market's biggest stumbling blocks. The cost of the raw materials used to create ethyl acetate is considerable, and the high cost of production is limiting market expansion. The adverse effects of ethyl acetate on the body are another key market limitation. Ethyl acetate can also cause infections in the nose, eyes, and throat, and thus has become a market restraint. Furthermore, the market's expansion may be hampered by several serious health risks associated with ethyl acetate usage.

Opportunity:

Increasing use in many industries

As it is used in many industries such as food & beverages, healthcare, packaging, automotive, artificial leather, etc. that has created huge opportunities for the ethyl acetate market growth. It is used to make leather products, and the use of ethyl acetate to make leather products such as bags, wallets, purses, and other accessories is bringing new opportunities for the market. The food industry is increasing rapidly and fulfilling the demand of the customers. The vendors are using ethyl acetate to add artificial flavors, and it is creating a positive impact on the ethyl acetate market. The increasing need for cleaners and nail polish remover, the need for ethyl acetate in pharmaceutical sectors will bring more opportunities for the market in the future.

Threat:

Traditional method and health consciousness

One of the biggest threats is to substitute the traditional coatings methods. The conventional coatings by water and high solid coatings are used by various sectors. The health consciousness of people to avoid artificial flavors that can cause health issues has become another threat for the market. People are not aware of ethyl acetate coating, so it had become a threat to the market. The market players are trying their best to overcome these threats and upsurge the demand of the market.

The printing ink segment is expected to be the largest during the forecast period

The emerging printing ink industry in numerous provinces around the world will contribute positively to the growth of the market. The evolving lifestyle of people will affect the healthy growth of the market. The rising depletion of it in the manufacturing of printing ink will foster the healthy growth of the market. The increasing juggernaut production capacities of required solvents such as ethyl solvents used in the manufacturing of printing ink will have a tremendous impact on the market. Besides, the desired properties of ethyl acetate make it ideal for manufacturing both flexographic and rotogravure printing inks. Hence, the rising demand for flexographic and rotogravure printing inks will simultaneously enable speedy expansion of the market.

The pharmaceutical segment is expected to have the highest CAGR during the forecast period

Ethyl acetate is generally used in the pharmaceutical industry due to its low purity, it is also used for purifying and concentrating antibiotics. In the pharmaceutical industry, solvent extraction finds numerous applications due to its suitability for processing heat-sensitive products and inherent flexibility.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to the high demand for it in industries such as pharmaceuticals, food & beverages, paints & coatings, and automotive. Apart from that, improved economic conditions, government initiatives, and a growing population are motivating the growth of the market in this province. Besides, rapidly growing urbanization and income levels in emerging economies like China and India are driving the dominance of the market in the Asia Pacific area. Rising construction activities in the Asia Pacific will further boost the demand for Ethyl Acetate in the near future.

Region with highest CAGR:

North America is projected to have the highest CAGR due to the factors such as the rising automotive sector, economy, demand for foods and beverages, and pharmaceuticals owing to the rise in the industrialization and upsurge in demand for these solvents for making printing inks varnishes and protective coatings for applications in industries such as building & construction and automotive in the province. For instance, North America is a net importer of ethyl acetate with Sasol (South Africa), Celanese (Mexico), and Rhodia (Brazil) being the three leading companies, which export ethyl acetate to North America.

Key players in the market:

Some of the key players profiled in the Ethyl Acetate Market include INEOS, Celanese Corporation, Daicel Corporation, Eastman Chemical Company, Jiangsu Sopo (Group) Co., Ltd., Jubilant Pharmova Limited, Sasol Limited, Showa Denko Kk, Sipchem, Solvay, Yip's Chemical Holdings Limited.

Key developments:

In July 2016: Ineos expanded the ethyl acetate production in Hull. EtAc is in high demand for use in pharmaceuticals, cosmetics, inks and flexible packaging and the Hull plant is already running at full capacity.

In July 2020: Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications, announced that it increase list and off-list selling prices for the acetyl intermediates products.

In May 2018; Showa Denko announced that it had completed expansion of its capacity to produce n-propyl acetate (NPAC), which is used in solvents for ink for special gravure printing.

In Feburary 2021: Sahara International Petrochemical (Sipchem) announced to restarted its ethyl acetate plant, Sipchem Chemicals (SCC), after a scheduled turnaround.

Types Covered:
• Coarse Ethyl Acetate (EA)
• Pure Ethyl Acetate (EA)

Applications Covered:
• Adhesives and Sealants
• Flavor Enhancer
• Food & Beverages
• Intermediates
• Textiles
• Cosmetic Paints Coatings
• Pigments
• Printing Ink
• Process Solvents

Ends Users Covered:
• Artificial Leather
• Automotive
• Pharmaceuticals
• Energy Power
• Food and Beverage
• Healthcare
• Packaging

Sales Channels Covered:
• Online
• Offline

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances