Global Ethyl Acetate Market to Reach US$7.4 Million by 2028

SEATTLE, May 16, 2022 /PRNewswire/ — According to Consistent market informationThe Global ethyl acetate market is estimated at 4.9 MMT in 2021, and should present a 6.0% CAGR during the forecast period (2021-2028).

Key Global Ethyl Acetate Market Trends and Analysis:

In recent years, the global ethyl acetate market has seen an increased demand for green solvents, derived from renewable or natural resources. The high demand for green solvents stems from customers focusing on naturally-derived products with minimal impact on the environment. In addition, the growing number of initiatives by state and federal governments to limit or reduce environmental emissions and their health risks are driving the demand for green solvents, such as ethyl acetate. For example, GreenYUG LLC, Greenyug, a technology development company whose mission is to research and commercialize the production of basic chemicals, specialty chemicals, polymers and fuels from renewable sources and SEKAB, a company Green Chemicals which manufactures bio-based chemicals and fuels are some of the suppliers who offer green ethyl acetate made from bio-produced ethanol. Thus, the growing demand for green ethyl acetate is expected to drive the market growth.

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Main market takeaways:

The Global ethyl acetate market is expected to show a CAGR of 6% over the forecast period (2021-2028). Ethyl Acetate Solvents are witnessing an increase in demand globally, owing to its growing application in different key end-use industries such as Perfumes, Food & Beverages, Automotive, Pharmaceuticals and packaging. Additionally, it is used in coating formulations such as acrylics, epoxies, and urethanes.

In the packaging solutions industry, soft packaging The solutions are most in demand due to the many benefits they offer, including low cost, easy recyclability, increased flexibility, and improved shelf life. Furthermore, the demand for flexible packaging solutions based on ethyl acetate is expected to increase in the coming years due to the boom in e-commerce and retail in the world where these solutions are used.

In the automotive sector, ethyl acetate solvents are used in car care products. These solvents are also used in the pharmaceutical industry for chromatographic separation, resulting in a stable market. Additionally, they are used to enhance the flavor of foods and beverages. Flexible packaging solutions are in high demand around the world, due to the growing need for simple and environmentally friendly packaging. Hence, it is expected to drive the demand for ethyl acetate solvent-based printing inks worldwide.

Key players operating in the global ethyl acetate market include Celanese Corporation, Eastman Chemical, Solutia, INEOS Group Limited, Rhodia BrazilShowa Denko, Shanghai Wujing Chemical, Sasol LimitedJiangmen Handsome and Sekab.

Mergers and acquisitions, strategic collaborations, new product launches and business expansions are the major strategies adopted by major players to retain their market share. For example, in May 2019IOL Chemical and Pharmaceuticals, a chemical manufacturer of various specialty chemicals and pharmaceuticals, has announced plans to expand its production facility in Punjab, India to increase the production capacity of several chemical products including ethyl acetate.

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Detailed segmentation:

Global Ethyl Acetate Market, By Application:

  • Paints and Coating Additives
  • Adhesives and sealants
  • Pigments
  • Solvents

Global ethyl acetate market, by end-use industry:

  • Food and drinks
  • Automotive
  • Medications
  • Packaging
  • artificial leather

Global Ethyl Acetate Market, By Region:

  • North America
  • Europe
    • By country:
      • UK
      • Germany
      • Italy
      • France
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By country:
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
  • Latin America
    • By country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East & Africa
    • By country:
      • GCC countries
      • Israel
      • South Africa
      • Rest of Middle East & Africa

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