logo

Ethyl Acetate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Ethyl Acetate Market is segmented by Application (Adhesives and Sealants, Paints and Coatings, Pigments, Process Solvent, Intermediates, and Other Applications), End-user Industry (Food and Beverage, Pharmaceutical, Automotive, Artificial Leather, Packaging, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Home Industry Reports Chemicals & Materials Ethyl Acetate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 20 ...

Market Snapshot

Ethyl Acetate Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %
Ethyl Acetate Market Key Players

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The ethyl acetate market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

The outbreak of COVID-19 affected the sales of paints and coatings as the construction activities were halted. However, the interest in DIY home decorations has increased as more time is spent in the home due to lockdown. Thus, this increased consumer's interest in paints and coatings, which is anticipated to impact the ethyl acetate market. Furthermore, the chemical industries have been shut down due to COVID-19 and resulted in less production of chemical products such as pigments, solvents, and intermediates and negatively impacted the ethyl acetate market.​

  • Over the medium term, the major factor driving the growth of the market studied is increasing demand from flexible packaging industries.
  • Moreover, the regulations toward natural rubber production increased the production of synthetic rubbers, thus, driving the market studied.
  • On the flip side, the replacement of conventional coatings by water-borne and high solid coatings decreased the growth of the ethyl acetate market.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

Ethyl acetate is an organic compound, a colorless liquid having a characteristic sweet smell, and it is used as a solvent and in glues and nail polish removers. Ethyl acetate is the ester of ethanol and acetic acid. The ethyl acetate market is segmented by application, end-user industry, and geography. By application, the market is segmented into adhesives and sealants, paints and coatings, pigments, process solvents, intermediates, and other applications. By end-user industry, the market is segmented into food and beverage, pharmaceutical, automotive, artificial leather, packaging, and other end-user industries. The report also covers the market size and forecasts for the ethyl acetate market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton).

Application
Adhesives and Sealants
Paints and Coatings
Pigments
Process Solvents
Intermediates
Other Applications
End-user Industry
Food and Beverage
Pharmaceuticals
Automotive
Artificial Leather
Packaging
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Demand from the Paints and Coatings Industry

  • The paints and coatings segment of the market studied accounted for the largest share of the ethyl acetate market. Ethyl acetate is used in paints as an activator or hardener. It is also used as an industrial solvent in coatings, adhesives, and rayon, primarily to dissolve the material. It is a common ingredient in lacquers, varnishes, and thinners that coat surfaces.
  • Ethyl acetate is used for manufacturing a variety of coating formulations, such as urethanes, cellulosics, acrylics, epoxies, and vinyl. The applications of these coatings include nitrocellulose and cellulose varnishes, acetate lacquers, and shellacs for wood furniture and fixtures, decorating ceramic objects, automotive, auto refinishing, and architectural coatings for interiors and exteriors. It exhibits high dilution ratios with both aromatic and aliphatic diluents, and it is the least toxic of the industrial organic solvents.
  • The global paints and coatings market is growing at a healthy rate, majorly owing to the increasing housing construction activities in regions such as Asia-Pacific, North America, and Middle-East and Africa.
  • Furthermore, with the increasing housing construction activities, growing population, and rising income levels in countries such as India, China, Mexico, and Brazil, the demand for furniture is expected to increase at a healthy rate. This scenario is expected to increase the demand for wood coatings. This, in turn, is boosting the consumption of ethyl acetate, primarily for the formulation of these coatings.
  • In addition, the increasing demand for epoxy coatings in the aerospace and food and beverage sectors around the world is expected to have a positive impact on the demand for ethyl acetate over the forecast period.
  • However, market growth is estimated to be hampered largely by the outbreak of COVID-19, as manufacturing activities are halted due to the lockdown prevailed. However, the construction activities resumed, and the demand for paints and coatings is expected to revive during the forecast period, thereby driving the market for ethyl acetate.
Ethyl Acetate Market Share

Asia-Pacific Region to Dominate the Demand

  • Asia-Pacific is expected to dominate the demand for the market studied during the forecast period. Moreover, significant growth rates are expected to be witnessed in Asia-Pacific, owing to the increasing household incomes and urbanization rates in countries such as China, India, and Malaysia, etc.
  • China is the world’s second-largest economy in terms of growth, and the increasing level of income of the country’s population is further driving the economy. Though the economy witnessed steady growth in the past years, it is likely to recover and expand at a significant rate.
  • China is the world's largest automotive producer. However, in 2018, the country witnessed a 4.16% decline in vehicles' production, accounting for 27,809,196 units of motor vehicles. The automotive industry's performance was affected by economic shifts and China's trade war with the United States. This trend sustained during 2019 as well, as the domestic automotive production and sales declined by 7.5% and 8.2%, respectively.
  • The production of vehicles in the country is estimated to decline further in 2020. Despite the domestic recovery in the economy in Q2 2020, low consumer confidence and supply chain disruptions remain as the reasons for the downfall in automotive production. The sales of new vehicles in the country decreased by over 8% from January to August 2020, compared to the previous year.
  • The demand for ethyl acetate in India has been growing at a steady rate in the recent past. Automotive, food and beverage, and packaging are the key end-user industries that occupy significant shares in the consumption of ethyl acetate in the country.
  • The government’s initiative to develop smart cities and to build almost 30 million homes by 2022 is likely to propel the demand for wood coatings. Rising floor renovating activities in the country and shift toward wooden flooring, primarily in commercial buildings, such as hotels and resorts, are boosting the demand for floor coatings.
  • Owing to the robust demand from the food and beverage and pharmaceutical sectors, the Indian market for flexible packaging is witnessing rapid growth. The packaging industry in the country is expected to witness significant growth during the forecast timeline.
  • Due to all such factors, the market for ethyl acetate in the region is expected to have a steady growth during the forecast period.
Ethyl Acetate Market Growth By Region

Competitive Landscape

The ethyl acetate market is consolidated in nature. Some of the major players in the market include INEOS, Sipchem, Celanese Corporation, Eastman Chemical Company, and DAICEL CORPORATION, among others.

Ethyl Acetate Market Analysis

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Flexible Packaging Industry

      2. 4.1.2 Stringent Regulatory Norms Regarding Natural Leather Production

    2. 4.2 Restraints

      1. 4.2.1 Replacement of Conventional Coatings by Water-borne and High Solid Coatings

      2. 4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Adhesives and Sealants

      2. 5.1.2 Paints and Coatings

      3. 5.1.3 Pigments

      4. 5.1.4 Process Solvents

      5. 5.1.5 Intermediates

      6. 5.1.6 Other Applications

    2. 5.2 End-user Industry

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Pharmaceuticals

      3. 5.2.3 Automotive

      4. 5.2.4 Artificial Leather

      5. 5.2.5 Packaging

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Celanese Corporation

      2. 6.4.2 DAICEL CORPORATION

      3. 6.4.3 Eastman Chemical Company

      4. 6.4.4 INEOS

      5. 6.4.5 Jiangsu SOPO (Group) Co. Ltd

      6. 6.4.6 Jubilant Pharmova Limited

      7. 6.4.7 KAI CO. LTD

      8. 6.4.8 Sasol

      9. 6.4.9 Sipchem

      10. 6.4.10 SHOWA DENKO K.K.

      11. 6.4.11 Wuxi Baichuan Chemical Industrial Co. Ltd

      12. 6.4.12 Yip's Chemical Holdings Limited

      13. 6.4.13 Linde plc (Praxair Technology Inc.)

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Innovations in Production of Ethanol from Coal/Natural Gas

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Ethyl Acetate Market market is studied from 2016 - 2026.

The Ethyl Acetate Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

INEOS , Sipchem , Celanese Corporation , Eastman Chemical Company , DAICEL CORPORATION are the major companies operating in Ethyl Acetate Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!