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Global Ethyl Acetate Market: By Application: Paints and Coating, Adhesives, Inks, Pharmaceutical, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Ethyl Acetate Market Outlook

The global ethyl acetate market demand reached a volume of nearly 4 million metric tons in 2020. The market is further expected to grow at a CAGR of 4.5% in the forecast period of 2023-2028.

 

Global Ethyl Acetate Market

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The Asia Pacific to Provide Lucrative Opportunities for the Market Expansion of Ethyl Acetate

The Asia Pacific is the leading regional market for ethyl acetate, accounting for nearly 82% of the market share in terms of supply. The Asia Pacific region is followed by North America and the European Union as the other major supply markets.

The Asia Pacific, having an 80% of the capacity of ethyl acetate, has a surplus of ethyl-acetate output, which it exports to regions like North America and Europe. The Asia Pacific is witnessing a rising demand for paints and coatings, along with adhesives, due to the increasing construction activities and the growing automobile sector in China and India, among others. China is the largest exporter in the Asia Pacific region as it has the largest ethyl acetate capacity. The Asia Pacific region exports a significant volume of the product to Europe and North America as they rely on imports from the Asia Pacific to meet their regional demand. This reliance on the Asian countries is, however, likely to reduce in the coming years with the expansion of capacity in North America and Europe.

The largest importing country within Europe is Belgium, which imports considerable volumes of ethyl acetate from Mexico and the United Kingdom, supported by free trade policies. The capacity expansion by INEOS in Europe, one of the key players in the ethyl acetate market, is expected to reduce the quantity of imports in the region. South Africa, Mexico, and India are among the major sourcing regions for ethyl acetate. The majority of consumers in Europe prefer to import from South Africa and Mexico owing to the readily available ethanol and synthetic ethanol in the regions.

 

Market Segmentation

Ethyl acetate, with the chemical formula, CH3COOC2H5, is among the simpler carboxyl esters. It is a liquid with no colour and has a soft, fruity scent, which most people find pleasant. Ethyl acetate is a commonly utilised solvent, particularly in the production of paints, varnishes, cleaning mixtures, lacquers, and perfumes. It finds wide applications in the following segments:

 

Global Ethyl Acetate Market By Application

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  • Paints and Coating
  • Adhesives
  • Inks
  • Pharmaceutical
  • Others

The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Ethyl Acetate Market By Region

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Growing Utilisation in Various End Use Sectors to Drive the Market Growth of Ethyl Acetate

The global ethyl acetate market is being driven by the growing demand for the product in the major end use sectors. The growing demand for paints and coatings, along with the rise in the demand for adhesives, is supporting the market growth of ethyl acetate. The demand for these products is being driven by the rapidly expanding construction sector, especially in the emerging regions like China and India. The growing demand for these products is, thus, providing an impetus to the demand for ethyl acetate.

The rapidly growing automobile sector in all the major regions and especially, in the developing nations, is propelling the ethyl acetate market growth further. Ethyl acetate is witnessing a rising demand in the residential, non-residential, automobile, and other sectors in the major regional markets. Other major driving factors include the increasing demand from industries, like pharmaceuticals, cosmetics, and packaging material sectors. The rising inclination towards flexible packaging solutions and the use of ethyl acetate-based flexible packaging owing to the emergence of e-commerce and retail businesses worldwide are contributing to the market expansion.

The ethyl acetate market is also supported by the growing cosmetics and personal care industries. With globalisation and economic growth, the disposable incomes of the consumers are also on the rise. This enables consumers to spend more on personal care products. Ethyl acetate is used in products like nail polish, which is widely sold. The growing demand for these cosmetic products is, thus, boosting the demand for ethyl acetate across all regions.

Furthermore, the rising demand for ethyl acetate made from biologically produced ethanol can be attributed to its environment-friendly nature, as a result of which the product is gaining popularity as a green solvent. The rising eco-consciousness among the customers and the increasing number of initiatives from state governments and federal governments to limit environmental emissions and health hazards associated with it are resulting in the market development of ethyl acetate. The strong presence of market players and their initiatives to expand their production capacities are expected to aid the market. For instance, in June 2021, the Board of Directors of IOL Chemicals and Pharmaceuticals Ltd. approved the expansion of the manufacturing capacity of ethyl acetate from 87,000 MT per annum to 100,000 MT per annum, by re-engineering of existing plant. Such developments are expected to positively influence the growth of the overall market in the coming years.

 

Key Players in the Global Market for Ethyl Acetate

The report gives a detailed analysis of the following key players in the global ethyl acetate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Jiangmen Handsome Chemical Development Ltd.
  • Jiangsu Sopo (Group) Co., Ltd.
  • Eastman Chemical Company
  • INEOS Group
  • Sekab Biofuels & Chemicals AB
  • Jinyimeng Group Co.,Ltd.
  • Godavari Biorefineries Ltd.
  • Solvay
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on Porter’s five forces model, along with giving a SWOT analysis. The report also gives a detailed insight into the price and trade data analysis of the market.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region
Breakup by Application Paints & Coating, Adhesives, Inks, Pharmaceutical, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Jiangmen Handsome Chemical Development Ltd., Jiangsu Sopo (Group) Co., Ltd.,
Eastman Chemical Company, INEOS Group, Sekab Biofuels & Chemicals AB,
Jinyimeng Group Co.,Ltd., Godavari Biorefineries Ltd., Solvay, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Ethyl Acetate Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Ethyl Acetate Historical Market (2018-2022) 
    8.3    Global Ethyl Acetate Market Forecast (2023-2028)
    8.4    Global Ethyl Acetate Market by Application
        8.4.1    Paints and Coating
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Adhesives
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Inks
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Pharmaceutical
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Ethyl Acetate Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada 
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis

    12.1    Major Exporting Countries:
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Price Analysis
    13.1    North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.2    Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.3    Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.4    Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.5    Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Jiangmen Handsome Chemical Development Limited
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Jiangsu SOPO (Group) Co., Ltd.
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Eastman Chemical Company
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Sekab
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Shandong Jinyimeng Group Co. Ltd.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Others
15    Industry Events and Developments


List of Key Figures and Tables

1.    Global Ethyl Acetate Market: Key Industry Highlights, 2018 and 2028 
2.    Global Ethyl Acetate Historical Market: Breakup by Application (Million Metric Tons), 2018-2022
3.    Global Ethyl Acetate Market Forecast: Breakup by Application (Million Metric Tons), 2023-2028
4.    Global Ethyl Acetate Historical Market: Breakup by Region (Million Metric Tons), 2018-2022
5.    Global Ethyl Acetate Market Forecast: Breakup by Region (Million Metric Tons), 2023-2028
6.    North America Ethyl Acetate Historical Market: Breakup by Country (Million Metric Tons), 2018-2022  
7.    North America Ethyl Acetate Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
8.    Europe Ethyl Acetate Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
9.    Europe Ethyl Acetate Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
10.    Asia Pacific Ethyl Acetate Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
11.    Asia Pacific Ethyl Acetate Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
12.    Latin America Ethyl Acetate Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
13.    Latin America Ethyl Acetate Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
14.    Middle East and Africa Ethyl Acetate Historical Market: Breakup by Country (Million Metric Tons), 2018-2022
15.    Middle East and Africa Ethyl Acetate Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
16.    Major Importing Countries by Volume 
17.    Major Exporting Countries by Volume     
18.    Major Importing Countries by Value (USD Million)
19.    Major Exporting Countries by Value (USD Million) 
20.    North America Historical Price Trends and Forecast 2018-2028
21.    Europe Historical Price Trends and Forecast 2018-2028
22.    Asia Pacific Historical Price Trends and Forecast 2018-2028
23.    Latin America Historical Price Trends and Forecast 2018-2028
24.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
25.    Global Ethyl Acetate Market Structure

Key Questions Answered in the Report

In 2020, the global ethyl acetate market attained a volume of nearly 4 million metric tons.

The ethyl acetate market is projected to grow at a CAGR of 4.5% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a volume of around 5 million metric tons by 2026.

The major drivers of the industry such as rising disposable incomes, increasing population, growing end-use industries, rising demand from the developing regions, and growing cosmetics and personal care industries, and growing technological advancements are expected to aid the market growth.

The key market trend guiding the growth of the ethyl acetate market include the innovations in the production of ethanol from coal or natural gas.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for the largest share in the market.

Paints and coating, adhesives, inks, and pharmaceutical, among others are the major application segments in the industry.

The major players in the industry are Jiangmen Handsome Chemical Development Ltd., Jiangsu Sopo (Group) Co., Ltd., Eastman Chemical Company, INEOS Group, Sekab Biofuels & Chemicals AB, Jinyimeng Group Co.,Ltd., and Godavari Biorefineries Ltd., Solvay, among others.

Analyst Review

The global ethyl acetate market attained a volume of nearly 4 million metric tons in 2020, driven by rising disposable incomes, increasing population, growing end-use industries, rising demand from the developing regions, and growing cosmetics and personal care industries, and growing technological advancements. The market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.5%. The ethyl acetate market is projected to reach a volume of around 5 million metric tons by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on applications, the global ethyl acetate industry can be segmented into paints and coating, adhesives, inks, and pharmaceutical, among others. The major regional markets for ethyl acetate are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for the largest share of the market. The key players in the above market include Jiangmen Handsome Chemical Development Ltd., Jiangsu Sopo (Group) Co., Ltd., Eastman Chemical Company, INEOS Group, Sekab Biofuels & Chemicals AB, Jinyimeng Group Co.,Ltd., Godavari Biorefineries Ltd., and Solvay, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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