Pune, Dec, 6, 2022: Maximize Market Research has published a report on the Ethyl Acetate Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the report, Ethyl Acetate Market is expected to grow at 8.2% from 2022 to 2029, reaching nearly USD 7.44 Bn by 2029.
Ethyl Acetate Market Research Methodology:
The research methodology used to estimate and forecast the ethyl acetate market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the Ethyl Acetate adoption rate and ethyl acetate pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Vice Presidents (VPs), directors, and related executives in the market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.
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Ethyl Acetate Market Overview:
Ethyl acetate is an organic substance with a wide range of applications, including artificial fruit essences, flavourings, ice cream, pastries, tea, and nail paint. Ethyl ethanoate is another name for it. The most prevalent use of this substance, which has no colour, is in glues. Alcohol, ketones, and Easter’s are all soluble in ethyl acetate, and it is also quite flammable. Additionally, it has been used for paint removal, coasting, and cleaning. The ethyl acetate industry is expanding due to the rising demand for ethyl acetate in many packaging industries, rising lather production, rising use of ethyl acetate in paintings, enamels, and other chemical processes changing consumer lifestyles, as well as other widespread applications of ethyl acetate.
Ethyl Acetate Market Dynamics:
Ethyl acetate is used as an extraction medium in the pharmaceutical industry to concentrate and purify antibiotics. Additionally, it serves as an intermediary in the manufacturing of medicines like rifampicin and sulphamethoxazole. Solvent adhesives with an ethyl acetate base have greater adhesion and peeling resistance. It is generally employed as a solvent or diluent for purposes like nail polish removal or as an addition in cigarettes due to its low cost, low toxicity, and pleasant smell. Flexographic and rotogravure printing inks can use ethanol acetate as a solvent. Adhesives, cleaning agents, coated papers, photographic films and plates, and fake leather are just a few of the other uses for ethyl acetate.
The market for paints and coatings is experiencing a significant increase in demand because these products serve two important economic functions, namely protection and decoration. The bulk of paints and coatings manufactured globally are used to preserve existing structures, such as homes and apartments for habitation, public buildings, factories, and plants, as well as to embellish and protect new construction. The market for ethyl acetate is therefore anticipated to be driven by a rise in the use of paints and coatings.
Ethyl Acetate Market Regional Insights:
Geographically, Asia Pacific held largest share of the Ethyl Acetate Market due to the low production cost of Ethyl Acetate and growth in large-volume exports of Ethyl Acetate by China. The Asia Pacific market is projected to surge at a rapid pace throughout the forecast period. North America and Europe also held a substantial share of the Ethyl Acetate Market and these regions is likely to enlarge at an adequate pace throughout the projected period.
Ethyl Acetate Market Segmentation:
By End-User Industry
- Food and Beverage and Pharmaceuticals
- Printing Inks
- Artificial Leather
- Packaging and Others
- Printing Inks
- Paints & Coatings
- Food & Beverages
- Herbicides, and Others
Based on End-user industry, the Food and Beverage segment held the largest market share for the Ethyl Acetate market in 2021 and is expected to dominate the market at the end of the forecast period. This growth is attributed to higher utilization of ethyl acetate as flavor enhancer and Flexible packaging. In terms of Application, the Paints & Coatings are the most profitable segment of the Ethyl Acetate Market, in terms of revenue. Because of its low toxicity, odorless and increased usage in manufacture of paints, coatings, and varnishes.
Ethyl Acetate Market Key Competitors:
Some of the major players in the Ethyl Acetate market include : Celanese Corporation, Eastman Chemical Company, INEOS, Jubilant Life Sciences, Lonza, Sekab Biofuels & Chemicals AB, PT. Indo Acidatama Tbk, Solvay, Merck KGaA, Shandong Jinyimeng Group Co. Ltd., DAICEL CORPORATION, KAI CO., LTD., Sipchem, SHOWA DENKO K.K., Jiangsu SOPO (Group) Co., Ltd, Ashok Alco – chem Limited, Solventis Ltd., Kanoria Chemicals & Industries Limited, Yip’s Chemical Holdings Limited, GODAVARI BIOREFINERIES LTD., Sasol Ltd., Eastman Chemical Co., Sigma-Aldrich Corp., Jubilant Life Science Ltd., Jinyimeng Group Co. Ltd., Wood and Chemicals, Nippon, Lee Chang Yung, and Shanghai Wujing.
Maximize Market Research is leading research firm, has also published the following reports:
India Ethyl Acetate Market: India Ethyl Acetate Market was valued US$ 645.44 Mn. in 2021 and is expected to reach US$ 1200.88 Mn. by 2029, at a CAGR 8.07% during a forecast period. The high growth in demand of ethyl acetate is primarily driven by growth in packaging, infrastructure, agriculture, healthcare and consumer sectors.
Ethylene Vinyl Acetate Market: Ethylene Vinyl Acetate Market was valued at US$ 7.34 Bn. in 2021 and the total Ethylene Vinyl Acetate revenue is expected to grow at 6.5% from 2022 to 2029, reaching nearly US$ 12.15 Bn. Demand for EVA-based hot-melt adhesives is being driven by growing organized retail sales, processed food product sales, FMCG product sales, and e-commerce sales.
Waterborne Coatings Market: Waterborne Coatings Market size was valued at USD 81.17 Bn. in 2021 and the total Waterborne Coatings revenue is expected to grow by 3.8% from 2022 to 2029, reaching nearly USD 109.39 Bn. Rising automotive production and sales globally due to improved economic growth are expected to drive demand for waterborne coatings during the forecast period.
Adsorption Equipment Market: Adsorption Equipment Market was valued US$ 289.9 Mn in 2021 and is expected to reach US$ 350.4 Mn by 2029, at a CAGR of 2.4 % during a forecast period. The rapid expansion of the end-user industries across the globe is expected to drive growth in the market. Strict regulations to control VOC emissions are expected to increase the demand for adsorption equipment.
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Key Questions answered in the Ethyl Acetate Market Report are:
- How is the competitive scenario of the Ethyl Acetate Market?
- Which are the key factors aiding the Ethyl Acetate Market growth?
- Which region is expected to hold the largest share in the Ethyl Acetate Market?
- What will be the CAGR of the Ethyl Acetate Market during the forecast period?
- Which are the prominent players in the Ethyl Acetate Market?
- What key trends are likely to emerge in the Ethyl Acetate Market in the during the forecast period?
- What is the expected Ethyl Acetate Market size by 2029?
- Which company held the largest share in the Ethyl Acetate Market?
- Which application segment emerged as the leading segment in the Ethyl Acetate Market?
- Which product segment grabbed the largest share in the Ethyl Acetate Market?
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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