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The size of the ethyl acetate market was estimated at 2.15 billion USD in 2022. The market for ethyl acetate is anticipated to increase from USD 3.19 billion in 2023 to USD 5.38 billion in 2030, with a compound yearly growth rate (CAGR) of 11.00% over the five-year forecast period (2023– 2030). A few of the major drivers driving the market include rising investments and rising consumption from various end-user industries.
In the first and second quarters of 2020, there was little demand for ethyl acetate due to the COVID-19 pandemic. However, the market has been gradually recovering, especially in the North East and South Asia region, as a result of the situation improving and the relaxation of lockdown restrictions towards the conclusion of quarter two. The majority of importers are wary of the market conditions, which has resulted in the year's low import volume. The biggest exporter and producer, China, is also embroiled in a trade dispute with the United States, which has negatively damaged its exports. Due to various lockdown restrictions that are still in place to stop the spread of the COVID-19 virus, demand from the flexible packaging sector, which includes packaging films, bags, and others, is still strong. However, the sluggish market demand is a direct effect of the low demand for coatings. As a result, it is anticipated that the market will experience growth challenges throughout the forecast period.
In the automobile sector, ethyl acetate solvents are utilized in car care products. The pharmaceutical industry uses these solvents for chromatographic separation applications, which has led to a stable market. Additionally, they are added to foods and drinks to improve flavor. The global need for flexible packaging solutions is being driven by the rising demand for practical and environmentally friendly packaging. The market for ethyl acetate solvent-based printing inks is predicted to increase internationally as a result.
Flexible packaging solutions are in high demand in the packaging sector due to their many advantages, which include being lightweight, inexpensive, easily recyclable, more flexible, and having a longer shelf life. The booming e-commerce and retail industries around the world, where these solutions are used, are another factor contributing to the expectation that demand for ethyl acetate-based flexible packaging solutions would increase in the upcoming years.
Epoxies, urethanes, cellulosic, acrylic, and vinyl are just a few of the many coating compositions that can be made using ethyl acetate. These coatings are used for a variety of purposes, including shellac for wood furniture and fixtures, automotive refinishing, ceramic object decorating, interior and exterior architectural coatings, and nitrocellulose and cellulose acetate lacquers. It functions as a solvent component (paint thinners or solvents) in adhesives, spread-coating compounds for fake leather, and cleansers. Ether acetate can be used as a solvent for the isocyanate portion of catalyzed lacquers.
Because of its low toxicity and pleasant scent, ethyl acetate is employed as a solvent in inks for flexographic and rotogravure printing. Its main goals are to dissolve the resin, control viscosity, and change the rate of drying. Ethyl acetate can also be used to prepare wool textiles for dyeing. In the production of pharmaceuticals, food products, and organic syntheses (esters, medicines), it can be used as an extraction solvent. Additionally, ethyl acetate can be used as a denaturant, as an additive to polishes, as an auxiliary in the creation of glazed and transparent paper, and as a gelling agent in the manufacture of powder, essences, and perfumes. The alkali-sodium silicate stabilizer (alkali silicates) used in soil stabilization utilizing the soil injection technique may be hardened with ethyl acetate in the building sector. Therefore, these expanding applications are the main drivers of the market CAGR.
Due to its exceptional solvent characteristics, low toxicity, and low boiling point, ethyl acetate is a frequently utilized solvent in a variety of industrial applications. The low toxicity of ethyl acetate is one of the key factors contributing to its rising demand as a solvent. Ethyl acetate is less hazardous and has a lower vapor pressure than other solvents like toluene and xylene, making it safer for workers to handle. This has caused ethyl acetate to be increasingly preferred as a solvent in sectors that value employee security and environmental sustainability.
However, the market's expansion is hampered by the availability of replacement chemicals like acetone and methyl ethyl ketone (MEK). In rare cases, the solvent methyl ethyl ketone (MEK) can be used in place of ethyl acetate. It can be utilized in a few coatings, adhesives, and paints and has a similar solvency power. It aids in the resins' dissolution and enhances their flow characteristics, producing a smooth and even coating. Vinyl acetate, polyvinyl alcohol, and acrylics are just a few examples of the synthetic polymers that can be dissolved in MEK to create diverse adhesives. It contributes to the polymers' dissolution and enhances their flow characteristics, producing a solid and long-lasting link.
Report Coverage
Global Ethyl Acetate research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ethyl Acetate report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ethyl Acetate competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ethyl Acetate market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ethyl Acetate market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ethyl Acetate market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DAICEL CORPORATION (Japan), KAI CO.LTD. (South Korea), Sipchem (Saudi Arabia), SHOWA DENKO K.K. (Japan), Merck KGaA (Germany), Shandong Jinyimeng Group Co.Ltd., Yip's Chemical Holdings Limited (China), and GODAVARI BIOREFINERIES LTD. (India), Maharashtra Aldehydes and Chemicals Ltd., IOL CHEMICALS AND PHARMACEUTICALS LIMITED, Jubilant Ingrevia Limited, Sasol Limited, Eastman Chemical Company, INEOS, Solvay, Celanese Corporation, Solventis Limited, Wacker Chemie AG, Ashok Alco-Chem Ltd., LCY Chemical Corp., Jiangsu Sopo (Group) Co., Ltd., Shanghai Wujing Chemical Co., Ltd., Rhodia Acetow GmbH, Nippon Synthetic Chemical Industry Co., Ltd., Carbohim d.o.o., Avantium N.V., Tokuyama Corporation.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ethyl Acetate market based on the below-mentioned segments:
Global Ethyl Acetate market, By Application
Adhesives & Sealants
Coatings Formulations
Pigments
Flavor Enhancer
Process Solvents
Intermediates
Others
Global Ethyl Acetate Market, By End User
Food & Beverage
Paints & Coatings
Pharmaceuticals
Automotive
Artificial Leather
Packaging
Others
Global Ethyl Acetate market, Regional Analysis
In the first and second quarters of 2020, there was little demand for ethyl acetate due to the COVID-19 pandemic. However, the market has been gradually recovering, especially in the North East and South Asia region, as a result of the situation improving and the relaxation of lockdown restrictions towards the conclusion of quarter two. The majority of importers are wary of the market conditions, which has resulted in the year's low import volume. The biggest exporter and producer, China, is also embroiled in a trade dispute with the United States, which has negatively damaged its exports. Due to various lockdown restrictions that are still in place to stop the spread of the COVID-19 virus, demand from the flexible packaging sector, which includes packaging films, bags, and others, is still strong. However, the sluggish market demand is a direct effect of the low demand for coatings. As a result, it is anticipated that the market will experience growth challenges throughout the forecast period.
In the automobile sector, ethyl acetate solvents are utilized in car care products. The pharmaceutical industry uses these solvents for chromatographic separation applications, which has led to a stable market. Additionally, they are added to foods and drinks to improve flavor. The global need for flexible packaging solutions is being driven by the rising demand for practical and environmentally friendly packaging. The market for ethyl acetate solvent-based printing inks is predicted to increase internationally as a result.
Flexible packaging solutions are in high demand in the packaging sector due to their many advantages, which include being lightweight, inexpensive, easily recyclable, more flexible, and having a longer shelf life. The booming e-commerce and retail industries around the world, where these solutions are used, are another factor contributing to the expectation that demand for ethyl acetate-based flexible packaging solutions would increase in the upcoming years.
Epoxies, urethanes, cellulosic, acrylic, and vinyl are just a few of the many coating compositions that can be made using ethyl acetate. These coatings are used for a variety of purposes, including shellac for wood furniture and fixtures, automotive refinishing, ceramic object decorating, interior and exterior architectural coatings, and nitrocellulose and cellulose acetate lacquers. It functions as a solvent component (paint thinners or solvents) in adhesives, spread-coating compounds for fake leather, and cleansers. Ether acetate can be used as a solvent for the isocyanate portion of catalyzed lacquers.
Because of its low toxicity and pleasant scent, ethyl acetate is employed as a solvent in inks for flexographic and rotogravure printing. Its main goals are to dissolve the resin, control viscosity, and change the rate of drying. Ethyl acetate can also be used to prepare wool textiles for dyeing. In the production of pharmaceuticals, food products, and organic syntheses (esters, medicines), it can be used as an extraction solvent. Additionally, ethyl acetate can be used as a denaturant, as an additive to polishes, as an auxiliary in the creation of glazed and transparent paper, and as a gelling agent in the manufacture of powder, essences, and perfumes. The alkali-sodium silicate stabilizer (alkali silicates) used in soil stabilization utilizing the soil injection technique may be hardened with ethyl acetate in the building sector. Therefore, these expanding applications are the main drivers of the market CAGR.
Due to its exceptional solvent characteristics, low toxicity, and low boiling point, ethyl acetate is a frequently utilized solvent in a variety of industrial applications. The low toxicity of ethyl acetate is one of the key factors contributing to its rising demand as a solvent. Ethyl acetate is less hazardous and has a lower vapor pressure than other solvents like toluene and xylene, making it safer for workers to handle. This has caused ethyl acetate to be increasingly preferred as a solvent in sectors that value employee security and environmental sustainability.
However, the market's expansion is hampered by the availability of replacement chemicals like acetone and methyl ethyl ketone (MEK). In rare cases, the solvent methyl ethyl ketone (MEK) can be used in place of ethyl acetate. It can be utilized in a few coatings, adhesives, and paints and has a similar solvency power. It aids in the resins' dissolution and enhances their flow characteristics, producing a smooth and even coating. Vinyl acetate, polyvinyl alcohol, and acrylics are just a few examples of the synthetic polymers that can be dissolved in MEK to create diverse adhesives. It contributes to the polymers' dissolution and enhances their flow characteristics, producing a solid and long-lasting link.
Report Coverage
Global Ethyl Acetate research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ethyl Acetate report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ethyl Acetate competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ethyl Acetate market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | DAICEL CORPORATION (Japan), KAI CO.LTD. (South Korea), Sipchem (Saudi Arabia), SHOWA DENKO K.K. (Japan), Merck KGaA (Germany), Shandong Jinyimeng Group Co.Ltd., Yip's Chemical Holdings Limited (China), and GODAVARI BIOREFINERIES LTD. (India), Maharashtra Aldehydes and Chemicals Ltd., IOL CHEMICALS AND PHARMACEUTICALS LIMITED, Jubilant Ingrevia Limited, Sasol Limited, Eastman Chemical Company, INEOS, Solvay, Celanese Corporation, Solventis Limited, Wacker Chemie AG, Ashok Alco-Chem Ltd., LCY Chemical Corp., Jiangsu Sopo (Group) Co., Ltd., Shanghai Wujing Chemical Co., Ltd., Rhodia Acetow GmbH, Nippon Synthetic Chemical Industry Co., Ltd., Carbohim d.o.o., Avantium N.V., Tokuyama Corporation. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Ethyl Acetate Market from 2021 to 2030.
- Market Forecast for Ethyl Acetate Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Ethyl Acetate competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Ethyl Acetate
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ethyl Acetate market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ethyl Acetate market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DAICEL CORPORATION (Japan), KAI CO.LTD. (South Korea), Sipchem (Saudi Arabia), SHOWA DENKO K.K. (Japan), Merck KGaA (Germany), Shandong Jinyimeng Group Co.Ltd., Yip's Chemical Holdings Limited (China), and GODAVARI BIOREFINERIES LTD. (India), Maharashtra Aldehydes and Chemicals Ltd., IOL CHEMICALS AND PHARMACEUTICALS LIMITED, Jubilant Ingrevia Limited, Sasol Limited, Eastman Chemical Company, INEOS, Solvay, Celanese Corporation, Solventis Limited, Wacker Chemie AG, Ashok Alco-Chem Ltd., LCY Chemical Corp., Jiangsu Sopo (Group) Co., Ltd., Shanghai Wujing Chemical Co., Ltd., Rhodia Acetow GmbH, Nippon Synthetic Chemical Industry Co., Ltd., Carbohim d.o.o., Avantium N.V., Tokuyama Corporation.
Primary Target Market
- Market Players of Ethyl Acetate
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ethyl Acetate market based on the below-mentioned segments:
Global Ethyl Acetate market, By Application
Adhesives & Sealants
Coatings Formulations
Pigments
Flavor Enhancer
Process Solvents
Intermediates
Others
Global Ethyl Acetate Market, By End User
Food & Beverage
Paints & Coatings
Pharmaceuticals
Automotive
Artificial Leather
Packaging
Others
Global Ethyl Acetate market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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