Ethyl Acetate Market Size (2024 - 2029)

The ethyl acetate market is anticipated to experience significant growth, driven by increasing demand from flexible packaging and paints and coatings industries. The market's expansion is further supported by the rising consumption in sectors such as automotive and pharmaceuticals, particularly due to the demand for ethyl acetate-derived intermediates. Despite challenges posed by the shift towards water-borne and high-solid coatings, innovations in ethanol production from coal and natural gas present new opportunities. The Asia-Pacific region is expected to lead in market size, with a notable growth rate during the forecast period.

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Market Size of Ethyl Acetate Industry

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Ethyl Acetate Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Ethyl Acetate Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Ethyl Acetate Market Analysis

The global ethyl acetate market is projected to register a CAGR of over 5% during the forecast period.

The COVID-19 pandemic affected the sales of paints and coatings as construction activities were halted. However, the market recovered in the 2021-22 period, owing to rising consumption from various end-user industries such as automotive, food and beverages, and others. The demand for drugs like paracetamol, which consumes ethyl acetate-derived intermediates, has increased, thus stimulating the market demand in the pharmaceutical sector.

  • The major factor driving the market's growth is expected to be increasing demand from flexible packaging industries and applications in the paints and coatings industry. Additionally, stringent regulatory norms for natural leather production are likely to favor the market's growth.
  • On the flip side, the replacement of conventional coatings with water-borne and high-solid coatings may hinder the growth of the ethyl acetate market.
  • Innovations in the production of ethanol from coal/natural gas will likely provide new growth opportunities for the market.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Ethyl Acetate Industry Segmentation

Ethyl acetate is a colorless fragrant volatile flammable liquid ester C4H8O2 used especially as a solvent. It is an organic compound, a colorless liquid having a characteristic sweet smell, and it is used as a solvent and in glues and nail polish removers. The ethyl acetate market is segmented by application, end-user industry, and geography. By application, the market is segmented into adhesives and sealants, paints and coatings, pigments, process solvents, intermediates, and other applications (flavor enhancers, inks). By end-user industry, the market is segmented into automotive, artificial leather, food and beverage, pharmaceuticals, and other end-user industries (packaging). The report also covers the size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo ton).

Application
Adhesives and Sealants
Paints and Coatings
Pigments
Process Solvents
Intermediates
Other Applications (Flavor Enhancers, Inks)
End-user Industry
Automotive
Artificial Leather
Food and Beverage
Pharmaceuticals
Other End-user Industries (Packaging)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Ethyl Acetate Market Size Summary

The ethyl acetate market is poised for significant growth, driven by increasing demand from flexible packaging and the paints and coatings industries. The market experienced a setback during the COVID-19 pandemic due to halted construction activities, but it rebounded in the following years, supported by rising consumption in sectors such as automotive, food and beverages, and pharmaceuticals. The demand for ethyl acetate is further bolstered by its application as an activator or hardener in paints and coatings, as well as its role as an industrial solvent. However, the shift towards water-borne and high-solid coatings may pose challenges to market expansion. Innovations in production methods, such as deriving ethanol from coal and natural gas, are expected to open new avenues for growth.

The Asia-Pacific region is anticipated to lead the ethyl acetate market, with the highest growth rates projected due to increasing household incomes and urbanization in countries like China and India. The region's dominance is supported by its robust automotive industry, which relies heavily on ethyl acetate for automotive paints and coatings. Additionally, the rising demand for artificial leather in the automotive sector further fuels market growth. The market is characterized by consolidation, with major players like INEOS, Sipchem, Celanese Corporation, Eastman Chemical Company, and Daicel Corporation playing pivotal roles. Strategic moves, such as Celanese Corporation's use of recycled carbon dioxide as a feedstock, highlight ongoing efforts to enhance production sustainability and efficiency.

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Ethyl Acetate Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Paints and Coatings Applications

      2. 1.1.2 Increasing Demand from the Flexible Packaging Industry

      3. 1.1.3 Stringent Regulatory Norms for Natural Leather Production

    2. 1.2 Restraints

      1. 1.2.1 Replacement of Conventional Coatings by Water-borne and High Solid Coatings

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Adhesives and Sealants

      2. 2.1.2 Paints and Coatings

      3. 2.1.3 Pigments

      4. 2.1.4 Process Solvents

      5. 2.1.5 Intermediates

      6. 2.1.6 Other Applications (Flavor Enhancers, Inks)

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Artificial Leather

      3. 2.2.3 Food and Beverage

      4. 2.2.4 Pharmaceuticals

      5. 2.2.5 Other End-user Industries (Packaging)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Ethyl Acetate Market Size FAQs

The Ethyl Acetate Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

INEOS , Sipchem , Celanese Corporation , Eastman Chemical Company and DAICEL CORPORATION are the major companies operating in the Ethyl Acetate Market.

Ethyl Acetate Market Report Snapshots

Ethyl Acetate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)