Ethyl Acetate Market is valued at USD 5.16 Billion in 2021 and expected to reach USD 9.42 Billion by 2028 with a CAGR of 9.0% over the forecast period.
Global Ethyl Acetate Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for flexible packaging, rising demand for paint and coating industry, and rising growth of the printing ink industry are some of the major factors driving the growth of the Global Ethyl Acetate Market.
Ethyl acetate is a neutral colourless liquid that has a dull, pleasant fruit odour. It can be mixed in all proportions with common organic solvents. It is slightly soluble in water and soluble in most organic solvents such as acetone, ether, and alcohol. Ethyl acetate is used in spread-coating compounds for synthetic leather. Ethyl ethanoate is widely used as a lac thinner and lac thinner. Ethyl acetate solvent is commonly used in columnar and thin-layer chromatography. It is prepared by catalytic condensation of acetaldehyde with acetic acid, ethanol, and alkoxides. Ethyl acetate is widely used in high-resolution printing inks and laminated adhesives due to its fast-evaporating properties used in a variety of flexible packaging and plastic films. Ethyl acetate is widely used in solvent casting processes to make flexible packaging films.
The Covid-19 pandemic has shown a mixed impact on the growth of the global ethyl acetate market. Covid-19 has stalled work in many areas due to social distance guidelines and labor shortages. The Covid-19 pandemic affected sales of paints and coatings as construction was halted. However, the interest in DIY home decoration has increased as more time is spent at home due to lockdown. Thus, due to this growing consumer interest in paints and coatings, the growth rate of the ethyl acetate market is expected to continue.
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 5.16 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 9.42 Billion
|Tables, Charts & Figures:
|Ethyl Acetate Key Players
|Eastman Chemical, Sasol Limited, Solutia, INEOS Group Limited, Showa Denko, Shanghai Wujing Chemical, Jiangmen Handsome, Celanese Corporation, Rhodia Brasil, Sekab, and others.
|By Application, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
The global ethyl acetate market is segmented based on the application, end-user and region & country level. Based on product, the global ethyl acetate market is segmented into intermediator, adhesives, pigments, process solvents, paints & coatings, adhesives & sealants, and others. By end-user, the global ethyl acetate market is segmented into healthcare, packaging, artificial leather, automotive, food & beverages, pharmaceuticals, and others.
The regions covered in the global ethyl acetate market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global ethyl acetate is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Key Players of Global Ethyl Acetate Market Report-
Some major key players for the global ethyl acetate market report cover prominent players like Eastman Chemical, Sasol Limited, Solutia, INEOS Group Limited, Showa Denko, Shanghai Wujing Chemical, Jiangmen Handsome, Celanese Corporation, Rhodia Brasil, Sekab, and others.
CropEnergies AG Unveiled Plans to Produce Renewable Ethyl Acetate Using Johnson Matthey technology
On December 1st, 2022; CropEnergies AG, Mannheim, and Johnson Matthey, London, a leader in sustainable technology, signed an engineering, licensing, and technical services agreement for a plant that allows CropEnergies AG to produce renewable ethyl acetate from sustainable ethanol near their production site in Zeitz, Germany.
Viridis Chemical Produced Renewable Ethyl Acetate
On March 29th, 2022; Viridis Chemical LLC announced the first production of renewable ethyl acetate from its manufacturing plant in Columbus, Nebraska. HELM U.S. Corp., Viridis Chemical's exclusive marketing partner, is already in the process of sending samples and distributing the material to Ethyl Acetate customers.
Increasing Demand for Flexible Packaging, Rising Demand for Paint and Coating Industry, and Rising the Printing Ink Industry are Some of the Major Factors Driving the Market Growth
One of the major factors driving the growth of the ethyl acetate market is the increasing demand for flexible packaging. Ethyl acetate is used in the solvent casting process to make flexible packaging films. Flexible packaging is highly flexible, available in a variety of sizes, has a low price, has a long shelf life, and can be recycled and, therefore, is widely used in the packaging industry. These advantages make flexible packaging the preferred packaging in various industries. Ethyl acetate is widely used for high-resolution printing inks and laminated adhesives and is used in a variety of flexible packaging and plastic films due to its rapid evaporation properties. With increasing consumer awareness and a growing focus on creating brand images, companies are spending more on packaging to make a difference. This is expected to increase the demand for flexible packaging in the next few years. Therefore, the increasing demand for flexible packaging drives the ethyl acetate market.
In addition, the rising demand for the paint and coating industry is also boosting the growth of the ethyl acetate market. It is an ideal solvent for many industrial coatings and enamels. It is used prominently in the formulation of coatings such as urethanes, epoxies, acrylics, vinyl, and others. The paint and coating industry is the largest consumer of ethyl acetate. This coating is used in a wide range of applications in various industries such as construction, agriculture, wood furniture, maintenance, marine, automotive, and others. Furthermore, it is also used in photographic films. Also, it is relatively inexpensive compared to other competing solvents used for similar applications. These different types and uses make them popular among other solvents available in the market. Thus, the strong demand for end-user applications and coatings has led to increased demand.
Moreover, the rise in the printing ink industry is also fostering the ethyl acetate market. Ethyl acetate is rapidly being used in the manufacture of printing inks. However, printing ink is evolving rapidly due to the demand for commercial printing and publishing, flexible packaging, and packaging labels. In addition, the rapid growth of the packaging industry led to an increase in the application of digital printing and increased demand for printing ink. This growth in the printing industry drives the growth of the ethyl acetate market. However, the high price associated with ethyl acetate may hinder the growth of the global ethyl acetate market. Despite that, emerging usage of ethyl acetate in different end-use industries may create more opportunities for the further growth of the market.
North America Holds a Major Share in the Global Ethyl Acetate Market
Geographically, North America is expected to capture a major share in the global ethyl acetate market within the forecast period due to the increasing demand for the paint and coating industry, rising technological advancement, and growing demand for foods and beverages, and pharmaceuticals in this region. Increasing demand for the paint and coating industry is driving the growth of the market. The demand for ethyl acetate for the manufacture of paints, coatings, and varnishes has increased significantly. Ethyl acetate gives excellent performance and is an economical solvent. Moreover, it has properties such as low toxicity and odor. Ethyl acetate is preferred in coatings, paints, and varnishes widely used in building and construction, and automotive industries in North America region. The construction industry is also witnessing a significant pace. As a result, the demand for ethyl acetate is expected to increase in the next few years. In addition, the rising technological advancements is also boosting the market growth. For instance; as per the news published, on March 29th, 2022; Viridis Chemical launched renewable ethyl acetate. Moreover, the growing demand for foods and beverages, and pharmaceuticals is also supplementing the growth of the market in this region.
Asia Pacific is the fastest-growing region in the global ethyl acetate market due to increasing household incomes and urbanization rates, rising demand for artificial leather and growing merger and acquisition activities in the market in this region. Demand for artificial leather is increasing in the automotive industry due to its breathability, heat-resistant properties, and flexibility. It is used for door trims, sun visors, roof lining, and other cars, buses, trucks, bikes, steering wheel covers, knob covers, and gear boots. Thus, the market for ethyl acetate is expected to grow due to the increase in demand for artificial leather. For example; in May 2019, IOL Chemical and Pharmaceuticals announced plan to develop its production capability in Punjab, India to boosts the production capability of numerous chemical products together with ethyl acetate.
Key Benefits of Global Ethyl Acetate Market Report–
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