Global Ethyl Acetate Market: Analysis and Forecast 2022-2027
Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Ethyl Acetate Market
The global Ethyl Acetate Market attained a volume of about 4.72 MT in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 2.8 percent, achieving a volume of around 5.55 MMT by 2027.
The Ethyl Acetate Market broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. One of the major factors driving the ethyl acetate market is its extensive demand for paints and coatings. It is also employed in cleaning and removing nail paints which is further boosting the market. The Asia Pacific is the biggest category spender by region which is impelling the demand for the Ethyl Acetate industry.
Ethyl Acetate: Market Definition and Segmentation
Ethyl acetate is an organic substance that is commonly abbreviated as EtOAc, ETAC, or EA and is systematically called ethyl ethanoate. The acetate ester generated between acetic acid and ethanol is ethyl acetate, which is produced in massive volumes to be utilized as a solvent. It comes in the form of a white liquid and smells like pear drops and is popularly applied in nail paint removers, glues, and the decaffeination of tea and coffee.
Ethyl acetate is a harmful organic composite that comprises acetate ester, an ethyl ester, and an acetate ester. Moreover, it is extremely combustible and miscible in all generic solvents such as alcohols, ketones, glycols, and esters however, only slightly mixable in water. This chemical is most commonly used for paint removal, washing, and varnishes.
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The ethyl acetate industry report comprises segments:
- By application – Paints & coatings, Adhesives, Inks, Pharmaceuticals
- By region – North America, Europe, Asia Pacific, the Middle East, Africa, and South America
Snapshot of the Report
The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, and Africa, and South America.
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The product is used in a variety of industries, including the automobile industry, where ethyl acetate solvents are used in car care products, fueling the industry’s growth. The solvents are also used for chromatographic separation in the pharmaceutical business, resulting in continuous demand.
Additionally, they are used to enhance the flavour of food and beverages, increasing product demand. It is mostly used to improve the flavour of various foods and beverages, such as coffee, tea, and confectionary. It is used to flavour gum, baked goods, candies, and other things and has a nice aroma.
Solvent extraction is used in the pharmaceutical industry for a variety of reasons, including its ability to treat heat-sensitive compounds and inherent flexibility. Alcoholic beverages such as wine and beer are also made with ethyl acetate. It’s also used to make tobacco, tea leaves with less caffeine, and caffeine-free coffee.
It is used to purify antibiotics during testing and cleaning as an extract. Ethyl acetate is also used to produce leather handbags, belts, wallets, and other accessories, and it’s a crucial component in the leather industry. Furthermore, the growing need for flexible packaging solutions is providing businesses with new options.
Category Insight by Region
Because of the expanding industrialisation in the region, the Asia Pacific region holds a substantial share of the industry. Furthermore, rising family incomes and urbanisation rates in countries like China, India, and Malaysia are expected to boost effective growth rates across the Asia-Pacific. This can be attributed to rising urbanisation and R&D to produce technologically superior things at an affordable cost. The existence of various ethyl acetate manufacturing facilities in the region is also a key driver of market growth.
The paints and coatings category is the main driver of the market. Ethyl acetate is used as an activator or hardener in paints. It’s also utilised as an industrial solvent in coatings, adhesives, and rayon, primarily to dissolve the chemical, It’s a common ingredient in lacquers, varnishes, and thinners for surface coatings.
The varnishes are applied to embellish and safeguard industrial products. Because of this, the market is swiftly growing. Furthermore, the increased need for epoxy coatings in the food and beverage, aerospace, and food and beverage industries around the world is expected to enhance ethyl acetate demand during the forecast period.
Best Procurement Practices
The global ethyl acetate Market by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of ethyl acetate across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
In industry, ethyl acetate is made using the classic Fischer esterification method of ethanol and acetic acid. At room temperature, this mixture converts to the ester around 65 percent of the time. The process can be sped up by acid catalysis and eliminating water from the equation can shift the equilibrium to the right. The Tishchenko reaction is used in industry to combine two equivalents of acetaldehyde in the presence of an alkoxide catalyst. Ethyl acetate is made through the alkylation of acetic acid with ethylene to produce silicotungstic acid.
Key Supplier Profiles included in the Ethyl Acetate Market
The key players in the market are Jiangmen Handsome Chemical Development Ltd., Jiangsu Sopo (Group) Co., Ltd, Shanghai Huayi Acrylic Acid Co., Ltd, Jiangsu Lianhai Biological Technology, and Jinyimeng Chemical Group Co., Ltd
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliernutms.
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