Ethyl Acetate Market Size, Share, and Industry Report [2031]

Segments - Ethyl Acetate Market by Types (Adhesives & Sealants, Paints & Coatings, Pigments, Process Solvent, and Intermediates), Applications (Food & Beverage, Pharmaceutical, Automotive, Artificial Leather, Packaging, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.

Author : Riddhesh Dani

Fact-checked by : Harneet Meher

Editor : Shruti Bhat

Report Description

The ethyl acetate market size was valued at USD 4.36 Billion in 2022 and is likely to reach USD 10.03 Billion by 2031 , expanding at a CAGR of 9.7% during 2023 – 2031. Growth of the market is attributed to rising interest in DIY home decoration.

Ethyl acetate is a colorless liquid with a distinctive sweet odor that is used as a solvent, as well as in glues and nail polish removers. The ester of ethanol and acetic acid is ethyl acetate. Ethyl acetate is used to make urethanes, cellulosic, acrylics, epoxies, and vinyl. Nitrocellulose and cellulose varnishes, acetate lacquers, and shellacs for wood furniture and fixtures, embellishing ceramic objects, automobile, auto restoration, and architectural coatings for interiors and exteriors. It has high dilution ratios with both aromatic and aliphatic diluents and is one of the least harmful industrial organic solvents. The demand for furniture is estimated to expand at a high CAGR owing to housing development activities, population growth, and rising income levels in nations like India, China, Mexico, and Brazil. As a result, demand for ethyl acetate is increasing, largely for the formulation of these coatings. Furthermore, the growing need for epoxy coatings in the aerospace and food and beverage industries worldwide is likely to boost ethyl acetate demand over the projection period.

Market Trends, Drivers, Restraints, and Opportunities

Increasing demand from the paint and other industries is fueling the market.
Its use in different industries is driving the market.
Covid-19 pandemic has restrained the market growth.
R&D investment and innovation of bio-based products is expected to offer significant opportunities for the market players.

Scope of the Report

The report on the ethyl acetate market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	The Ethyl Acetate Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Adhesives & Sealants, Paints & Coatings, Pigments, Process Solvent, and Intermediates), Applications (Food & Beverage, Pharmaceutical, Automotive, Artificial Leather, Packaging, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Adhesives and Sealants, Paints and Coatings, Pigments, Process Solvent, and Intermediates

Market Segment Insights:

The pigments segment is anticipated to expand at a high CAGR

Based on types, the ethyl acetate market is segregated into adhesives & sealants, paints & coatings, pigments, process solvent, and intermediates. The pigment segment is projected to grow at a rapid pace during forecast period. A pigment is a colored substance that is water insoluble or nearly insoluble. Pigments are inorganic substances, whereas dyes are usually organic substances.

Liquid extraction, also known as solvent extraction or partitioning, is a technique for separating chemicals or metal complexes based on their respective solubilities in two immiscible liquids, often water and organic solvent.

The food and beverage segment is estimated to hold a major market share

On the basis of applications, the ethyl acetate market is segregated into food & beverage, pharmaceutical, automotive, artificial leather, packaging, and others. In the food sector, ethyl acetate is commonly used as a solvent as well as an artificial flavor enhancer in ice creams, cakes, other confectionery foods. Decaffeinating tea and coffee with an ethyl acetate solvent is becoming more popular as demand for decaffeinated beverages is projected to grow at a substantial rate. It can be utilized in printing and pharmaceuticals at low purity levels.

Asia Pacific is projected to hold a major market share

In terms of regions, the ethyl acetate market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to dominate the market. Growth of the market in the region is attributed to rising household incomes and urbanization in nations like China, India, and Malaysia. Though the economy has grown steadily in recent years, it is expected to rebound and expand at a high rate in the next few years.

Segments

The ethyl acetate market is segmented on the basis of

Types

Adhesives & Sealants
Paints & Coatings
Pigments
Process Solvent
Intermediates

Applications

Food & Beverage
Pharmaceutical
Automotive
Artificial Leather
Packaging
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

INEOS
Sipchem
Celanese Corporation
Eastman Chemical Company
DAICEL CORPORATION

Competitive Landscape

Key players competing in the ethyl acetate market include INEOS, Sipchem, Celanese Corporation, Eastman Chemical Company, and DAICEL CORPORATION
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Ethyl Acetate Market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ethyl Acetate Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ethyl Acetate Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ethyl Acetate Market - Supply Chain
  4.5. Global Ethyl Acetate Market Forecast
     4.5.1. Ethyl Acetate Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ethyl Acetate Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Ethyl Acetate Market Absolute $ Opportunity
5. Global Ethyl Acetate Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Ethyl Acetate Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Ethyl Acetate Demand Share Forecast, 2019-2026
6. North America Ethyl Acetate Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Ethyl Acetate Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Ethyl Acetate Demand Share Forecast, 2019-2026
7. Latin America Ethyl Acetate Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Ethyl Acetate Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Ethyl Acetate Demand Share Forecast, 2019-2026
8. Europe Ethyl Acetate Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Ethyl Acetate Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Ethyl Acetate Demand Share Forecast, 2019-2026
9. Asia Pacific Ethyl Acetate Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Ethyl Acetate Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Ethyl Acetate Demand Share Forecast, 2019-2026
10. Middle East & Africa Ethyl Acetate Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Ethyl Acetate Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Ethyl Acetate Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Ethyl Acetate Market: Market Share Analysis
  11.2. Ethyl Acetate Distributors and Customers
  11.3. Ethyl Acetate Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. INEOS
     11.4.2. Sipchem
     11.4.3. Celanese Corporation
     11.4.4. Eastman Chemical Company
     11.4.5. DAICEL CORPORATION