Ethyl Acetate Industry Overview
The global ethyl acetate market size was valued at USD 4.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028.
This is attributed to the growing investments in the construction, pharmaceuticals, and automotive sector. There has also been a significant rise in the production of sustainable packaging products such as flexible packaging due to increasing environmental concerns, which is anticipated to propel the demand for solvent-based printing inks in the packaging industry over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Ethyl Acetate Market
Ethyl acetate solvents are used in car care products in the automotive industry. These solvents are also used in chromatographic separation applications in the pharmaceuticals industry, thus resulting in a stable market. Moreover, they are used in food products and beverages to enhance their flavor. Increasing demand for convenient and sustainable packaging is triggering the demand for flexible packaging solutions across the world. It is anticipated to contribute to the demand for ethyl acetate solvent-based printing inks globally.
In the packaging solutions industry, flexible packaging solutions are witnessing the highest demand on the account of numerous benefits offered by them, including lightweight, low cost, easy recyclability, increased flexibility, and enhanced shelf life. Furthermore, the demand for ethyl acetate-based flexible packaging solutions is expected to grow in the coming years due to the flourishing e-commerce and retail business across the world wherein these solutions are used.
As ethyl acetate has more than four polarities, it is used in applications with difficult separations. It is also used in column chromatography applications, thereby resulting in its surged use in the wine industry for the differentiation of various wines and the study of wine vintage. With increasing wine consumption in Germany, the U.K., etc., new chromatography applications are anticipated to emerge contributing significantly to the overall market growth.
As chemicals containing VOC are used in the footwear and leather manufacturing industries, the product is expected to witness wide application scope in artificial leather manufacturing processes. With the stringent imposition of various government regulations on the production of natural leather and the surged demand for cruelty-free leather accessories such as belts and apparel, the global market for artificial leather is anticipated to witness significant growth over the forecast period.
Browse through Grand View Research’s Organic Chemicals Industry Research Reports.
- Flexible Packaging Market – The global flexible packaging market size was valued at USD 252.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030. Market growth is primarily driven by the growing demand for packaged food coupled with the convenience of use and cost effectiveness of flexible packaging.
- Car Care Products Market – The global car care products market was valued at USD 10.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2022 to 2030. The market is expected to be driven by the growth of the automotive industry around the world.
Ethyl Acetate Market Segmentation
Grand View Research has segmented the global ethyl acetate market on the basis of end-use, and region:
Ethyl Acetate End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Food & Beverage
- Artificial Leather
Ethyl Acetate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global ethyl acetate market include
- Eastman Chemical Company
- Sasol Limited
- Daicel Corporation
Order a free sample PDF of the Ethyl Acetate Market Intelligence Study, published by Grand View Research.
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