PUNE,
India, July 12, 2024 /PRNewswire/ -- The research
methodology utilized in analysing the Ethyl Acetate
Market encompasses a thorough approach that combines primary
data which is often collected through surveys, interviews, and
focus groups with industry experts and stakeholders such as
manufacturers, Raw Material Suppliers, Distributors and Suppliers,
Regulatory Bodies, Industry Associations. This allows for firsthand
insights into market trends, consumer behaviour, and regulatory
challenges and secondary research utilizing reports from government
sources, industry publications, and financial statements. Market
sizing and forecasting techniques are employed alongside
competitive analysis to provide valuable insights into the market
landscape. It also includes figures for import/export consumption,
supply and demand, price, cost, revenue, and gross margins which
makes it an investor's guide. The report encompasses product type,
fuel, application segments and their analysis, which elucidates
their influence on the market. The estimation methodology often
adopts a bottom-up approach to accurately determine market
sizes.
Get your Sample PDF:
https://www.maximizemarketresearch.com/request-sample/41790/
Reports on competitive analyses encompass company overviews,
financial performances, product portfolios, and strategies of key
players in the Ethyl Acetate market. To assess strengths and
weaknesses, a comprehensive SWOT analysis was conducted, while a
PESTLE analysis was carried out to understand the impact of
macroeconomic factors on the market. Also, the report includes
detailed analyses of investments made by market players to enhance
their global presence.
Ethyl Acetate Market was valued at USD
5.91 Bn in 2023 and is expected to reach USD 8.83 Bn by 2030, at a CAGR of 5.9 % during
the forecast period.
Global Ethyl Acetate Market 2023-2027: Key Highlights
Market Size in
2023:
|
USD 5.91 Bn
|
Market Size in
2030:
|
USD 8.83 Bn
|
CAGR:
|
5.9 %
|
Forecast
Period:
|
2024-2030
|
Base
Year:
|
2023
|
Number of
Pages:
|
229
|
No. of
Tables:
|
138
|
No. of Charts and
Figures:
|
193
|
Regional
Scope:
|
North America, Europe,
Asia Pacific, and Africa, South America
|
Report
Coverage:
|
Market Share, Size and
Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers,
Restraints, Investment Opportunities, and Key Trends, Competitive
Landscape, Key Players Benchmarking, Competitive Analysis, MMR
Competition Matrix, Competitive Leadership Mapping, Global Key
Players' Market Ranking Analysis.
|
- Historic Market Size 2017-2023
- CAGR of the market during 2024-2030.
- Detailed information on factors that will assist Ethyl Acetate
market growth during the next seven years.
- An estimation of the Ethyl Acetate market size and the impact
of the country's GDP on Ethyl Acetate market.
- Forecasts on upcoming trends and changes in consumer
behaviour.
- The growth of the Ethyl Acetate market
- Analysis of the competitive landscape and detailed information
on companies.
- Comprehensive details of factors that will impede the growth of
Ethyl Acetate companies.
Competitive Landscape
The Ethyl Acetate Market includes the presence of several global
as well as regional key players. A few prominent players that offer
Ethyl Acetate in the market are Celanese Corporation, INEOS Group
Limited , Eastman Chemical Company , Sasol Limited, Solvay S.A. ,
LCY Chemical Corp, Daicel Corporation, bilant Pharmova
Limited, Ashok Alco - chem
Limited and others.
What's New: Recent Additions and Updates
- Fluctuations in the prices of Ethyl Acetate.
- Demand and supply scenario for Ethyl Acetate covering the
production.
- Analysis and forecast of Ethyl Acetate market size.
- Segmentation and forecast Ethyl Acetate market based on end-use
and regional division.
- Competing developments such as expansion, greenfield projects/
brownfield expansion, mergers and acquisitions.
Key Player Offerings
- In March 2024, Eastman, a global
specialty materials company, announced the commencement of
operations at its new molecular recycling facility located in
Kingsport, Tennessee. The plant
has achieved on-spec initial production and has started generating
revenue.
- In December 2023, Jiangsu Sopo
Chemical announced plans to invest in a vinyl acetate and EVA
integrated project in Zhenjiang New District New Materials Park
which is wholly owned subsidiary SOPO Chemical New Materials main
body. The total investment in the project will be 7.128 billion yuan, which will be divided into
two phases. Phase I is a 330,000 tonne/year vinyl acetate project,
and Phase II is a 300,000 tonne/year EVA project.
For more details on the information, Request a sample
report:
https://www.maximizemarketresearch.com/request-sample/41790/
Market Overview
The increasing use of ethyl acetate as a sweetener in the food
and beverage industry represents one of the major drivers for the
growth of the market globally. The use of ethyl acetate in the
introduction of milk, confectionery and gourmet bakery products is
driving the market growth. For example, in February 2024, IFF, a global leader in food and
beverage, home and personal care, and health and wellness, is
stepping up its game in the world of plant-based meat builds in the
replacement. The company has invested in high-moisture
removal (HME) technology from Coperion, a global leader in
extrusion technology.
The increasing popularity of ethyl acetate as a key ingredient
in the manufacture of coatings, paints and inks is acting as a key
growth driver in the market. Increasing manufacturing, coupled with
expanding automotive industry, where high demand for coatings and
paints is driving the market growth. For example, in September 2023, PPG announced the completion of
an expansion of its powder coating plant in Sumare, Brazil. The USD 2.7
million (BRA 13 million) project increased plant production
by 40%. Stringent environmental regulations mandating the use of
green and safe chemicals have led to the demand for ethyl acetate
which contributes to the growth of the market. This is mainly
considered as a less toxic alternative to ethyl acetate compared to
other industrial chemicals that are meeting its demand.
Expanding pharmaceutical industry with increasing demand for
ethyl acetate in the pharmaceutical industry as a solvent and
cleaning agent contributes to the growth of the market. According
to the National Center of Biotechnology Information, the
consumption of over-the-counter drugs is high (78.9%), with higher
consumption in subjects aged ≤ 25 years (85.5%), students (85.7%),
and those with postgraduate degrees (86.7%). Of these medicines,
analgesics are the most consumed medicines (49.1%). Increasing
innovation in the production of ethyl acetate, aimed at reducing
costs and improving yields, makes it more accessible and economical
for a wide range of market drivers progress is much easier.
In conclusion, the demand for Ethyl Acetate is constantly
increasing worldwide driven by factors such as quality,
affordability and durability. The Maximize Market Research
report captures these trends in detail across various industries.
It provides a comprehensive analysis of market trends, consumer
preferences and competitive landscape in each category. This
comprehensive perspective provides stakeholders with valuable
information to navigate opportunities and challenges, and ensures
strategic decisions for sustainable growth in the global hand tool
market.
Segment Overview
MMR has segmented the market based on by Application (Adhesives
and Sealants, Process Solvents, Printing Ink, Paints &
Coatings, Others) by End-Use Industry (Artificial Leather,
Automotive, Food & Beverage, Packaging, Pharmaceutical, Others)
by Distribution Channel (Offline, Online) and Region
(APAC, Europe, North America, Middle
East and Africa, and South America).
Based on the Application, the ethyl acetate market is segmented
into adhesives and sealants, process solvents, printing ink, paints
& coatings and others. Paints, and Coatings segment dominated
with a 45% market share and is expected to grow with a CAGR of
6.13% during the forecast period. New technology-based coating
materials make public works safer, more sustainable, and more
durable, and respond better to extreme weather conditions, and sea
level rise. Ethyl acetate is one of the most popular solvents and
is widely used in the manufacture of nitrocellulose lacquers,
varnishes, and thinners for dissolving nail pigments. It exhibits
high dilution ratios with both aromatic and aliphatic diluents and
is the least toxic of industrial organic solvents. Ethyl acetate
effectively dissolves a wide range of resins and pigments used in
paint formulations. Stringent regulations on VOC (Volatile Organic
Compound) content in paints are pushing the demand for compliant
solvents like ethyl acetate.
Based on the end-user industry, the ethyl acetate market is
segmented into Artificial Leather, Automotive, Food & Beverage,
Packaging, Pharmaceutical and Others. The food and beverage segment
are expected account more than 15% share in the global ethyl
acetate consumption, commonly using the chemical as synthetic
flavoring. The pharmaceuticals segment dominated with a 15% market
share and is expected to grow with a CAGR of 6.09% during the
forecast period. Ethyl Acetate is used as an extraction solvent and
intermediate in the process of manufacturing such as
sulphamethoxazole, rifampicin etc., and Ethyl acetate is readily
used in the extraction of active pharmaceutical ingredients from
natural sources and is also used for purification and
crystallization processes.
Detailed segmentation values for each segment and explanations
for growth are provided in the final report.
Access a Free Sample Report:
https://www.maximizemarketresearch.com/request-sample/41790/
Geography Overview
India is one of the world's
largest manufacturers of ethyl acetate all across the world, with a
production volume of over 470.64 thousand metric tons in fiscal
year 2023. This is expected to be driven by the rising demand for
ethyl acetate in the country, which has been growing at a rapid
pace over the past few years. This chemical is increasingly
utilized across various industries such as automotive,
construction, packaging, furniture, and pharmaceuticals.
India is expected to be the major
industrial hub as the country has a dense population and growing
urbanization. The ethyl acetate market in India is estimated to generate revenue of
approximately USD 1305.23 Million by
the end of 2030, making it one of the most lucrative markets for
investors, ethyl acetate manufacturers, suppliers, etc. Among the
highest manufacturers such as China, Japan,
and Taiwan, India is the major producer and consumer of
ethyl acetate accounting for over 75% of production of ethyl
acetate all over the world.
Ethyl acetate, also known as ethyl ethanoate, is an ester
composed of ethanol and acetic acid, it is a colorless, volatile
liquid with a sweet, fruity smell. It is used in the production of
many products such as artificial flavor or fragrance additives, as
a solvent in paints, lacquers, and adhesives, and as a
decaffeinating agent in coffee and tea, etc. Ethyl acetate is
produced either synthetically or by the natural fermentation of
ethanol. Its capability to dissolve a variety of materials makes it
an essential ingredient in the production of many products. Its
sweet, fruity aroma makes it a popular additive in the food,
beverage, and pharmaceutical industries. As a result, growing
industrialization in India rapidly
increases the demand for ethyl acetate across various industries,
thereby supporting the India ethyl
acetate market growth during the forecast period.
According to the Analysis, India emerged as a prominent player in the
global ethyl acetate market. India
has ranked 4th largest exporters of ethyl acetate all
across the world in 2022. Indian exports of ethyl acetate reached a
substantial value, with Italy,
Belgium, Nigeria, Bangladesh, and the United Arab Emirates being the primary
destinations. Notably, Bangladesh,
Turkey, and Italy were the fastest-growing markets,
reflecting India's expanding
influence and competitive edge in this sector.
India Ethyl Acetate Market Import-Export Analysis
(2022)
Category
|
Value
|
World
Rank
|
Rank within
India
|
Exports
|
$139M
|
4 / 88
|
488 / 4553
|
Imports
|
$2.1M
|
61 / 161
|
3256 / 4466
|
In the final report, import export data for major countries
are incorporated seamlessly to provide a comprehensive
understanding of the Global Ethyl Acetate market.
Related Reports:
Ethylene Vinyl Acetate Market was valued at US$ 8.31 Bn. in 2023 and the total Ethylene Vinyl
Acetate revenue is expected to grow at 6.5% from 2024 to 2030,
reaching nearly US$ 12.92 Bn.
Ethylene Vinyl Acetate Resins Market is expected to grow
at a CAGR of 6.5% during the forecast period and is expected to
reach US$ 17.49 Bn by 2030.
Cellulose Acetate Phthalate Market is expected to reach
US$ 6.92 Bn. by 2030, at a CAGR of
5.3% during the forecast period.
Global Sodium Acetate Trihydrate Market is expected to
grow at a CAGR of 7.4% during the forecast period. Global Sodium
Acetate Trihydrate Market is expected to reach US$ 309.97 Mn by 2030.
Neryl Acetate Market was valued at US$ 2.77 Bn. in 2030. The Global Neryl Acetate
Market size is estimated to grow at a CAGR of 4.3 % over the
forecast period.
Ethylene Vinyl Acetate Market was valued at US$ 8.31 Bn. in 2023 and the total Ethylene Vinyl
Acetate revenue is expected to grow at 6.5% from 2024 to 2030,
reaching nearly US$ 12.92 Bn.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and
consulting company with professionals from several industries. Some
of the industries we cover include medical devices, pharmaceutical
manufacturers, science and engineering, electronic components,
industrial equipment, technology and communication, cars and
automobiles, chemical products and substances, general merchandise,
beverages, personal care, and automated systems.
Contact Maximize Market Research:
3rd Floor, Navale IT
Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041,
India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656.
Follow Us: Linkedin
| Twitter| Facebook |
Instagram
Logo:
https://mma.prnewswire.com/media/2457992/Maximize_Market_Research_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/ethyl-acetate-market-impacted-by-growing-pharmaceutical-industry-finds-maximize-market-research-302195719.html
SOURCE Maximize Market Research Pvt. Ltd.