[Online Quarterly Update] The Ethyl Acetate Market has shown significant growth as it reached 3.2 million tonnes in 2020 and is projected to achieve a healthy global CAGR of 4.50% during the forecast period 2022-2030. Ethyl Acetate with the molecular formula C4H8O2 is an organic ester compound. It is a colorless and flammable liquid that has a sweet fruity smell. Ethyl Acetate, also known as Ethyl Ethanoate, is an important commodity chemical used for numerous industrial and commercial applications. It is primarily used as solvents and diluents especially for paints, cleaning mixtures, coatings, adhesives, varnishes, lacquers, and perfumes.
Ethyl ethanoate is extensively utilized as a component of nail polish removers and lacquer thinners. In laboratories, Ethyl Acetate solvent is commonly used in column and thin-layer chromatography. It is manufactured by the esterification of Ethanol and Acetic acid, and catalytic condensation of Acetaldehyde with Alkoxides. Although, it naturally occurs in fruits, where it is responsible for the taste and smell of the fruit.
On the basis of end-user industries, the global Ethyl Acetate market is segmented into paints and coatings, food and beverages, automotive, construction, packaging, and others. The paints and coatings industry dominates the global demand for the chemical as it is extensively used in paints as an activator and hardener. The surging demand for Ethyl Acetate by the paints and coatings industry is likely to flourish in the forecast period as well owing to increasing construction activities across the globe. As Ethyl Acetate is environmentally safe and acceptable for food applications like decaffeinating tea and coffee and artificial flavor enhancer in confectionery items, its demand in the food and beverage industry is expected to boost in the future. The initiatives of the government to construct commercial buildings, such as hotels and resorts, in emerging economies are boosting the demand for floor coatings, which will further augment the global market in upcoming years. Exponentially growing demand for Ethyl Acetate solvents by the packaging industries to manufacture flexographic and rotogravure inks will accelerate the global Ethyl Acetate market in the next few years. Owing to the robust demand for Ethyl Acetate by the pharmaceutical industry is expected to drive the market of Ethyl Acetate across the globe until 2030.
During the COVID-19, in 2020, the Ethyl Acetate market witnessed a negative impact across the globe. Several industries including paint and coatings, construction, aerospace, and others were severely affected due to interruptions in the global supply chain of the chemical. During the first half of 2020, there was a major decline in the demand for Ethyl Acetate solvents as several manufacturing units halted their operations temporarily. Once the restrictions imposed by the government are uplifted, major end-user industries including paints and coating, and flexible packaging, will boost the demand for Ethyl Acetate across the globe by the end of the year.
Region-wise, the Asia Pacific region dominates the global demand for the Ethyl Acetate and is anticipated to maintain its dominance in the forecast period until 2030. Rapidly growing urbanization and income levels in emerging economies like China and India are driving the dominance of the market in the Asia Pacific region. Rising construction activities in the Asia Pacific will further boost the demand for Ethyl Acetate in the near future.
Major players for Ethyl Acetate include Celanese Corporation, Eastman Chemical Company, INEOS Capital Limited., Celanese Corporation, Jubilant Life Sciences Limited, Lonza, Sekab, PT. Indo Acidatama Tbk., Solvay, Merck KGaA, Shandong Jinyimeng Group Co. Ltd., DAICEL CORPORATION., KAI CO., LTD., Sipchem., and Others.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
• To assess the demand-supply scenario of Ethyl Acetate which covers production, demand and supply of Ethyl Acetate market globally.
• To analyse and forecast the market size of Ethyl Acetate.
• To classify and forecast global Ethyl Acetate market based on application, technology, end-use and regional distribution.
• To identify drivers and challenges for global Ethyl Acetate market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Ethyl Acetate market.
• To identify and analyse the profile of leading players involved in the manufacturing of Ethyl Acetate.
To extract data for global Ethyl Acetate market, primary research surveys were conducted with Ethyl Acetate manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Ethyl Acetate market over the coming years.
ChemAnalyst calculated Ethyl Acetate demand globally by analyzing the historical data and demand forecast which was carried out considering imported Ethyl Acetate, styrene prices, monomers used for production of Ethyl Acetate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ethyl Acetate manufacturers and other stakeholders
• Organizations, forums and alliances related to Ethyl Acetate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethyl Acetate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global Ethyl Acetate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
By End-Use (Paint and Coatings, Food and Beverage, Pharmaceuticals, Automotive, Packaging, and Others)
By Application (Adhesives, Paints and Coatings, Pigments, Process Solvents, Cleaning Mixtures and Others)
By Sales Channel (Direct Company Sale, Direct Import, Distributors & Traders)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Celanese Corporation, Eastman Chemical Company, INEOS Capital Limited., Celanese Corporation, Jubilant Life Sciences Limited, Lonza, Sekab, PT. Indo Acidatama Tbk., Solvay, Merck KGaA, Shandong Jinyimeng Group Co. Ltd., DAICEL CORPORATION., KAI CO., LTD., Sipchem., and Others.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
12.7.4.Argentina Ethyl Acetate Demand-Supply Scenario, 2015-2030, By Volume
12.7.4.1.Demand
12.7.4.2.Supply
12.7.4.3.Gap
12.7.5.Argentina Ethyl Acetate Demand Outlook, 2015-2030, By Volume
12.7.5.1.By End use
12.7.5.2.By Application
12.7.5.3.By Sales Channel
12.7.5.4.By Company Share (At least top 3 companies’ market share
12.7.5.5.By Region
13.Country-wise Import
14.Country-wise Export
15.News and Deals
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Ethyl Acetate finds its applications in adhesives and diluents, paints and coatings, pigments, process solvents, cleaning mixtures and Others
Q2.
Which region demands the maximum share in the global Ethyl Acetate market as of 2020?
Ans:
Asia-Pacific region holds the maximum share of the global Ethyl Acetate market owing to the increasing construction activities in the region.
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