The Global Ethyl Acetate Market size is expected to reach $8.5 billion by 2030, rising at a market growth of 6.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 4369.2 Kilo Tonnes, experiencing a growth of 5.8% (2019-2022).
Ethyl acetate is used as a solvent in the production of coatings for artificial leather. Therefore, the artificial leather segment captured $263.5 million revenue in the market in 2022. It helps dissolve the coating ingredients, ensuring uniform application and adhesion to the synthetic leather substrate. It has a fast evaporation rate, which helps dry coatings on artificial leather quickly, increasing production efficiency.
The construction and automotive industries have experienced significant growth globally, driven by various factors such as urbanization, population growth, and infrastructure development. Additionally, as countries worldwide industrialize, they become major players in the global economy as producers and consumers of goods and services. Therefore, the increasing industrialization will support the expansion of the market in the coming years.
However, ethyl acetate is primarily derived from ethanol and acetic acid, both subject to price volatility based on factors such as supply-demand dynamics, weather conditions affecting crops, and geopolitical events. One of the main challenges posed by fluctuating raw material prices is the impact on production costs. Increases in ethanol and acetic acid prices directly translate to higher production costs for these manufacturers. Hence, these factors may result in slowed market growth.
Ethyl acetate is used as a solvent in the production of coatings for artificial leather. Therefore, the artificial leather segment captured $263.5 million revenue in the market in 2022. It helps dissolve the coating ingredients, ensuring uniform application and adhesion to the synthetic leather substrate. It has a fast evaporation rate, which helps dry coatings on artificial leather quickly, increasing production efficiency.
The construction and automotive industries have experienced significant growth globally, driven by various factors such as urbanization, population growth, and infrastructure development. Additionally, as countries worldwide industrialize, they become major players in the global economy as producers and consumers of goods and services. Therefore, the increasing industrialization will support the expansion of the market in the coming years.
However, ethyl acetate is primarily derived from ethanol and acetic acid, both subject to price volatility based on factors such as supply-demand dynamics, weather conditions affecting crops, and geopolitical events. One of the main challenges posed by fluctuating raw material prices is the impact on production costs. Increases in ethanol and acetic acid prices directly translate to higher production costs for these manufacturers. Hence, these factors may result in slowed market growth.
By End Use Analysis
On the basis of end-use, the market is classified into artificial leather, automotive, food & beverage, packaging, pharmaceutical, and others. The automotive segment acquired 37.1% revenue share in the market in 2022. The use of ethyl acetate in the automotive industry is driven by its effectiveness as a solvent, environmental friendliness, cost-effectiveness, and versatility, making it a valuable component in the production of automobiles and automotive components.
By Application Analysis
Based on application, the market is characterized into paint & coatings, inks, process solvents, pigments, and others. The process solvents segment procured 15.9% growth rate in the market in 2022. Ethyl acetate is a highly effective solvent for a wide range of materials, including resins, polymers, fats, and oils. Its ability to dissolve these substances makes it valuable in various process applications, such as pharmaceuticals, textiles, and electronics.By Distribution Channel Analysis
By distribution channel, the market is divided into offline and online. The offline segment garnered 76.6% revenue share in the market in 2022. Offline distribution channels offer personalized service, allowing customers to interact directly with sales representatives who can provide expert advice and guidance on product selection and usage.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 48.1% revenue share in the market in 2022. The construction and automotive industries are major consumers of ethyl acetate for paints, coatings, adhesives, and sealants. The rapid urbanization and infrastructure development in countries like China and India are driving its demand in these sectors.List of Key Companies Profiled
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- INEOS Group Holdings S.A.
- Wacker Chemie AG
- Linde plc
- Sasol Limited
- Solvay SA
- Sipchem Company
- Tokuyama Corporation
Market Report Segmentation
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Offline
- Online
- Paint & Coatings
- Inks
- Process Solvents
- Pigments
- Others
- Automotive
- Artificial Leather
- Food & Beverage
- Pharmaceutical
- Packaging
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Netherlands
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Ethyl Acetate Market by Distribution Channel
Chapter 5. Global Ethyl Acetate Market by Application
Chapter 6. Global Ethyl Acetate Market by End-use
Chapter 7. Global Ethyl Acetate Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- INEOS Group Holdings S.A.
- Wacker Chemie AG
- Linde plc
- Sasol Limited
- Solvay SA
- Sipchem Company
- Tokuyama Corporation
Methodology
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