Market Size of Ethyl Acetate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ethyl Acetate Market Analysis
The global ethyl acetate market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic affected the sales of paints and coatings as construction activities were halted. However, the market recovered in the 2021-22 period, owing to rising consumption from various end-user industries such as automotive, food and beverages, and others. The demand for drugs like paracetamol, which consumes ethyl acetate-derived intermediates, has increased, thus stimulating the market demand in the pharmaceutical sector.
- The major factor driving the market's growth is expected to be increasing demand from flexible packaging industries and applications in the paints and coatings industry. Additionally, stringent regulatory norms for natural leather production are likely to favor the market's growth.
- On the flip side, the replacement of conventional coatings with water-borne and high-solid coatings may hinder the growth of the ethyl acetate market.
- Innovations in the production of ethanol from coal/natural gas will likely provide new growth opportunities for the market.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
