Quarterly Update on Global Ethyl Acetate Market
For the Quarter Ending September 2020
Ethyl Acetate supply across Asia was observed getting tighter by the end of the Q3 with the prices gradually increasing due to restricted supply. The spot prices of Ethyl Acetate were observed to be hovering around USD 725/tonne FOB China. Key Chinese producer Jiangmen Handsome Chemical Development shut its 200 KTPA Ethyl Acetate plant in Taixing, Jiangsu in September. In South Korea, Korea Alcohol Industrial also shut its plant for scheduled maintenance. The price of Ethyl Acetate were observed to be steady due to stable demand-supply gap. Exports from China to other Asian countries increased due to increased demand in cleaning and sanitizing industry. Brisk trades pushed up the price of Ethyl Acetate to a seven-month high in September.
North America’s Ethyl Acetate supply continued to fall due to rise in demand of upstream ethanol in hand sanitizer production. With the surge in the number in coronavirus cases, the demand of single use plastics increased that subsequently led to upstream supply concerns. The growing demand coupled with stiff supply pressured the dynamics. The prices of Ethyl Acetate took an all time high due to disrupted demand-supply issues during Q3. In Q4, the demand is expected to regain stability and the supply of the product is also anticipated to reach high levels.
The European demand of Ethyl Acetate was low due to limited offtakes by the end-users. Extended lockdowns disrupted the demand of the Ethyl Acetate in majorly all the countries of Europe. The prices of raw material were comparatively higher than observed in Q1 and Q2. Due to unattractive prices offered by the overseas nations like India and Brazil, buyers turned favorable towards domestic players. Demand jumped in September but remained shrouded with uncertainties amid looming economy as fears of second coronavirus wave pressured the overall activity.
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Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.
ChemAnalyst gathers information through primary research surveys conducted with various Ethyl Acetate manufacturers, spread across the domestic and international markets, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of the company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.
Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Ethyl Acetate market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.
Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.
Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Ethyl Acetate market.
Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.
Finally, region-specific markets for Ethyl Acetate are analyzed and region-wise demand pattern is tracked.
Ethyl Acetate (C3H6), also known as ethyl ethanoate has major application as a solvent in perfumes, cleaning mixtures, paints and varnishes, lacquers etc. The main manufacturing process of the product is through esterification of ethanol and acetic acid while some manufacturers use the process of catalytic condensation of acetaldehyde with alkoxides. Many new technologies are coming up to reduce the production time and increase the operating efficiency. For example, Avada is a process that uses ethylene and acetic acid with a solid acid catalyst that has been patented by BP. Chinese National Petroleum uses one-step ethanol process to produce ethyl acetate. The global demand of Ethyl Acetate has been increasing due to its strong demand from the surface coating applications. It is now replacing the harmful and the restricted solvents in various applications. The OEM (original equipment manufacturer) sector has the maximum applications. With the rise in the awareness about the advantages of the product, many manufacturing companies have started increasing the capacities of their production plant.