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Ethyl Acetate Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19
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Ethyl acetate, also known as ethyl ethanoate, is an organic ester compound with the chemical formula C4H8O2. In addition, it is known as acetic ether or acetic ester. Ethyl acetate is a colorless, highly soluble substance used by all organic solvents such as glycols, ketones, alcohols, and esters. It is a liquid substance with physical property similar to aromatic odor, best known for glues and the removal of nail paints. This product is often used as a solvent for cleaning, removing nail paints, and coating.
The demand for ethyl acetate is increasing due to its growing applications in construction, mining, and marine equipment. In the food & beverages industry, it is used as an additive commonly known as flavor enhancer. This is attributed to the fact that after addition to ingredients of any food items, it gives various flavors such as pineapple, bananas, strawberries, and others. It has a sweet aroma that is used to give the flavor of fruit to candy, baked goods, and gums.
Ethyl acetate is also an important ingredient in alcoholic beverages such as wine and beer. It is also an essential element in manufacturing of tobacco, less caffeinated tea leaves, and less caffeine coffee. It is used as an extract in the testing and cleaning of antibiotics to purify the same. It is also used as a proxy for the production of drugs such as sulphamethoxazole, rifampicin, and others. In addition, ethyl acetate is an important component used in the leather industry and is effective in the manufacture of leather bags, belts, wallets, and other items.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Application, Industry Vertical, and Region |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
Companies covered | Sipchem, Ashok Alco-Chem, Kanoria Chemicals & Industries Limited, Godavari Biorefineries Ltd., Solventis, Daicel Corporation, Jubilant Life Sciences, Indo Acidantama Tbk, Solvay, and Eastman Chemical Company |
COVID-19 scenario analysis:
- The coronavirus outbreak severely affected businesses all around the world. There is decline in demand for ethyl acetate as well.
- The chemical industry is displaying down trend in terms of both demand and market growth.
- China is a major supplier in the chemical industry across the world, which has been first affected by the coronavirus outbreak. This led to a slump in the market growth.
- Lockdowns across the globe led the ethyl acetate market to experience disrupted supply chain due to which manufacturers are not able to supply chemicals.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Ethyl acetate is used in various types of coating manufacturing; some cited examples are epoxies, urethanes, cellulosic, acrylics, and vinyl in the textile industry. Growing use of the product as a flavor supplement in the food & beverages industry is also driving the ethyl acetate market growth. The growth of the F&B sector in the Asia Pacific region due to the growth of the online food service is expected to strengthen the demand for ethyl acetate. A large amount of ethyl acetate needs to be used in the manufacture of flexible inserts and polyester films, Biaxially Oriental Polypropylene (BOPP).
Fluctuating prices and the product’s side effects, such as eye, nose, & throat irritation, restrain the demand for ethyl acetate.
Key segments covered:
Segments | Sub-segments |
Application |
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Industry Vertical |
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Key benefits of the report:
- This study presents the analytical depiction of the global ethyl acetate market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global ethyl acetate market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global ethyl acetate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the ethyl acetate market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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