The global ethyl acetate market size is expected to reach USD 8.3 billion by 2028. The market is expected to expand at a CAGR of 8.8% from 2021 to 2028. The market growth can be attributed to a significant increase in the production of sustainable packaging products such as flexible packaging owing to rising environmental concerns, which is anticipated to propel the demand for solvent-based printing inks in the packaging industry over the forecast period.
Ethyl acetate solvents are witnessing an increase in demand across the world owing to their growing application scope in various key end-use industries such as fragrances, food, and beverages, automotive, Pharmaceuticals, and packaging. Further, it is used in coating formulations such as acrylics, urethanes, and epoxies. These coatings are applied on fixtures, wood furniture, and mining equipment. They are also used in construction, agriculture, marine, and auto refinishing applications. The consumption of the product in coatings and paints is expected to surge in the coming years owing to the flourishing construction industry.
It is majorly used as a flavor enhancer in different food and beverage products such as coffee, tea, and confectionery items. It has a sweet smell which is also used to add fruity flavors to gum, baked goods, candy, and others. In the pharmaceutical industry, solvent extraction finds many applications owing to its suitability for processing heat-sensitive products and inherent flexibility. As a result, considering environmental impact and human safety, the product is anticipated to witness high consumption for solvent extraction in the pharmaceutical industry.
The recent outbreak of COVID-19 has led to disruptions in the overall value chain of ethyl acetate worldwide. In 2020, the impact of COVID-19 on the ethanol industry was sharp and swift. Falling consumption and negative operating margins led to dramatic cut downs in ethanol production. This, in turn, affected the global demand of the industry in the year 2020. However, a complete recovery of the market is expected by the first quarter of 2022 with the stabilization of global economies of industrial sectors worldwide.
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Ethyl acetate solvents are witnessing an increase in demand across the world owing to their growing application scope in various key end-use industries such as fragrances, food, and beverages, automotive, Pharmaceuticals, and packaging. Further, it is used in coating formulations such as acrylics, urethanes, and epoxies. These coatings are applied on fixtures, wood furniture, and mining equipment. They are also used in construction, agriculture, marine, and auto refinishing applications. The consumption of the product in coatings and paints is expected to surge in the coming years owing to the flourishing construction industry.
It is majorly used as a flavor enhancer in different food and beverage products such as coffee, tea, and confectionery items. It has a sweet smell which is also used to add fruity flavors to gum, baked goods, candy, and others. In the pharmaceutical industry, solvent extraction finds many applications owing to its suitability for processing heat-sensitive products and inherent flexibility. As a result, considering environmental impact and human safety, the product is anticipated to witness high consumption for solvent extraction in the pharmaceutical industry.
The recent outbreak of COVID-19 has led to disruptions in the overall value chain of ethyl acetate worldwide. In 2020, the impact of COVID-19 on the ethanol industry was sharp and swift. Falling consumption and negative operating margins led to dramatic cut downs in ethanol production. This, in turn, affected the global demand of the industry in the year 2020. However, a complete recovery of the market is expected by the first quarter of 2022 with the stabilization of global economies of industrial sectors worldwide.
Ethyl Acetate Market Report Highlights
- The market is expected to witness significant growth over the forecast period due to rising product demand in food and beverage and pharmaceutical applications
- The food and beverage segment emerged as the largest end-use segment in 2020 and is estimated to generate revenue over USD 2.0 billion by 2028
- In Asia Pacific (APAC), the market is projected to witness the fastest growth over the estimated period due to rapid economic progress, industrialization, and growth of major end-use sectors across countries, such as India, China, and Japan
- Rapid development of food and beverages and automotive manufacturing industries in APAC is also fueling the demand for the product in the regional market
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Table of Contents
Chapter 1. Methodology and Scope1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 The Publisher's Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.4 Information Analysis & Data Analysis Models
1.5 Market Research Approaches
1.6 Research Scope and Assumptions
1.7 List to Data Sources
Chapter 2. Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
Chapter 3. Global Ethyl Acetate Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Manufacturing Trends
3.4 Price Trend Analysis, 2017 - 2028
3.5 Regulatory Framework
3.6 Trade Analysis (Hs Code 291531), (USD Thousand)
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.1.1 Growing Preference Worldwide for Flexible Packaging Solutions
3.7.1.2 Emerging Chromatography Applications Across the World
3.7.1.3 Flourishing Global Food & Beverages Industry
3.7.1.4 Increasing Demand for Artificial Leather Across the World
3.7.1.5 Expanding Flavor and Fragrances Industries
3.7.2 Market Restraint Analysis
3.7.2.1 Increased Prices of Ethyl Acetate
3.8 Impact of COVID 19
3.9 Ethyl Acetate Industry Analysis - Porter's
3.10 Ethyl Acetate Industry - Macroeconomic Analysis
Chapter 4. Global Ethyl Acetate Market: End-Use Estimates & Trend Analysis
4.1 Global Ethyl Acetate Market: End-Use Movement Analysis & Market Share, 2020 & 2028
4.2 Global Ethyl Acetate Market Size & Forecasts and Trend Analysis, by End Use, 2017 - 2028 (Kilotons) (USD Million)
4.2.1 Food & Beverage
4.3 Ethyl Acetate Market Size & Forecasts and Trend Analysis, Food & Beverage, 2017 - 2028 (Kilotons) (USD Million)
4.3.1 Pharmaceuticals
4.4 Ethyl Acetate Market Size & Forecasts and Trend Analysis, Pharmaceuticals, 2017 - 2028 (Kilotons) (USD Million)
4.4.1 Automotive
4.5 Ethyl Acetate Market Size & Forecasts and Trend Analysis, Automotive, 2017 - 2028 (Kilotons) (USD Million)
4.5.1 Artificial Leather
4.6 Ethyl Acetate Market Size & Forecasts and Trend Analysis, Artificial Leather, 2017 - 2028 (Kilotons) (USD Million)
4.6.1 Packaging
4.7 Ethyl Acetate Market Size & Forecasts and Trend Analysis, Packaging, 2017 - 2028 (Kilotons) (USD Million)
4.7.1 Other Applications
4.8 Ethyl Acetate Market Size & Forecasts and Trend Analysis, Other Applications, 2017 - 2028 (Kilotons) (USD Million)
Chapter 5. Global Ethyl Acetate Market: Regional Estimates & Trend Analysis
5.1 Global Ethyl Acetate Market: Regional Movement Analysis & Market Share, 2020 & 2028
5.2 Global Ethyl Acetate Market Size, Forecasts, and Trend Analysis, by Region, 2017 - 2028 (Kilotons)
5.3 Global Ethyl Acetate Market Size, Forecasts, and Trend Analysis, by Region, 2017 - 2028 (USD Million)
5.3.1 North America
5.3.1.1 North America, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.3.2 U.S.
5.3.2.1 U.S., Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.3.3 Canada
5.3.3.1 Canada, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.3.4 Mexico
5.3.4.1 Mexico, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.4 Europe
5.4.1 Europe, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.4.2 U.K.
5.4.2.1 U.K., Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.4.3 Germany
5.4.3.1 Germany, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.4.4 France
5.4.4.1 France, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.5 Asia Pacifc
5.5.1 Asia-Pacific, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.5.2 China
5.5.2.1 China, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.5.3 India
5.5.3.1 India Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.5.4 Japan
5.5.4.1 Japan, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.6 Central & South America
5.6.1 Central & South America, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
5.7 Middle East & Africa
5.7.1 Middle East & Africa, Ethyl Acetate Market Size, Forecasts, and Trend Analysis, 2017 - 2028 (Kilotons) (USD Million)
Chapter 6. Global Ethyl Acetate Market: Competitive Analysis
6.1 Vendor Landscape
6.2 Competitive Environment
6.3 Company Market Position Analysis
6.4 Strategic Framework
Chapter 7. Global Ethyl Acetate Market: Competitive Analysis
7.1 Celanese Corporation
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Portfolio
7.2 Ineos
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Portfolio
7.2.4 Strategic Initiatives
7.3 Eastman Chemical Company
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Portfolio
7.3.4 Strategic Initiatives
7.4 Solvay
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Product Portfolio
7.5 Jiangsu Sopo (Group) Co., Ltd.
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Portfolio
7.6 Jubilant Pharmova Limited
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Product Portfolio
7.7 Sipchem
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Portfolio
7.8 Daicel Corporation
7.8.1 Company Overview
7.8.2 Financial Performance
7.8.3 Product Portfolio
7.9 Sasol Limited
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Portfolio
7.10 Showa Denko Kk
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Product Portfolio
7.11 Yip's Chemical Holdings Limited
7.11.1 Company Overview
7.11.2 Financial Performance
7.11.3 Product Portfolio
7.11.4 Strategic Iniiatives
7.12 Iol
7.12.1 Company Overview
7.12.2 Financial Performance
7.12.3 Product Portfolio
7.12.4 Strategic Initiatives
List of Tables
Table 1 Global Ethyl Acetate Market Volume Estimates & Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 2 Global Ethyl Acetate Market Revenue Estimates & Forecasts, By End Use, 2017 - 2028 (USD million)
Table 3 Global Ethyl Acetate Market Estimates & Forecasts, by Region, 2017 - 2028 (Kilotons)
Table 4 Global Ethyl Acetate Market Estimates & Forecasts, by Region, 2017 - 2028 (USD Million)
Table 5 North America Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 6 North America Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD Million)
Table 7 U.S. Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 8 U.S. Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD Million)
Table 9 Canada Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 10 Canada Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 11 Mexico Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 12 Mexico Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 13 Europe Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 14 Europe Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 15 U.K. Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 16 U.K. Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 17 Germany Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 18 Germany Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 19 France Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 20 France Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD Million)
Table 21 Asia Pacific Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 22 Asia Pacific Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 23 China Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 24 China Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 25 India Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 26 India Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD Million)
Table 27 Japan Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 28 Japan Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 29 Central & South America Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 30 Central & South America Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 31 Middle East & Africa Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (Kilotons)
Table 32 Middle East & Africa Ethyl Acetate Market Estimates and Forecasts, By End Use, 2017 - 2028 (USD million)
Table 33 Vendor LandscapeList of Figures
Fig. 1 Ethyl acetate market segmentation
Fig. 2 Data Sources for Information Procurement
Fig. 3 Information Analysis
Fig. 4 Bottom-up Approach
Fig. 5 Top-down Approach
Fig. 6 Combined Approach
Fig. 7 Value Chain Based Sizing & Forecasting
Fig. 8 Market Formulation and Validation
Fig. 9 Ethyl acetate market outlook
Fig. 10 Segmental outlook, 2020 (Kilotons)
Fig. 11 Ethyl Acetate Market Volume & Revenue, 2017 - 2028 (Kilotons) (USD Million)
Fig. 12 Ethyl acetate market - value chain analysis
Fig. 13 Ethyl acetate market - Price trend analysis, 2017 - 2028 (USD/Kg)
Fig. 14 Ethyl Acetate Market Dynamics
Fig. 15 Global Consumption of Artificial Leather Based on Ethyl Acetate from 2017 to 2028, (Million Meters)
Fig. 16 Ethanol Industry Capacity by Operational Status, 2020
Fig. 17 Ethyl Acetate Market - Porter’s Analysis
Fig. 18 Ethyl Acetate Market- PESTEL Analysis
Fig. 19 Global Ethyl Acetate Market: End-use Movement Analysis & Market Share, 2020 & 2028
Fig. 20 Total Pharmaceutical Market (2019)
Fig. 21 Total production of cars and commercial vehicles, 2017 - 2020 (Units)
Fig. 22 Artificial leather consumption, 2017 - 2028, (USD million), (million meter)
Fig. 23 Global Ethyl Acetate Market: Regional Movement Analysis & Share, 2020 & 2028
Fig. 24 Canada Artificial Leather Consumption, 2017 - 2028 (Million Meters)
Fig. 25 New Car Registrations in European Union, 2016 - 2020 (Billion Units)
Fig. 26 Consumption of synthetic leather in China, by application, (Million Meter), 2017 - 2028
Fig. 27 Company Market Positioning
Companies Mentioned
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- Ineos
- Iol
- Jiangsu Sopo (Group) Co., Ltd.
- Jubilant Pharmova Limited
- Sasol Limited
- Showa Denko Kk
- Sipchem
- Solvay
- Yip's Chemical Holdings Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 85 |
| Published | November 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 4.62 Billion |
| Forecasted Market Value ( USD | $ 8.3 Billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
