Ethyl Acetate Industry Overview to 2023
Ethyl acetate is used in diverse applications, which is capable of offering quick evaporating nature, flavor, and fragrance, and extended shelf life to the final product. Thus, they are used in various applications such as food & beverage, pharmaceutical, cosmetics, textiles, paints & coatings, adhesives & sealants, and others. The global ethyl acetate market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Ethyl Acetate Market– Top 10 Global key Players & Their Strategy
Some of the prominent players operating in the global ethyl acetate market are INEOS (Switzerland), Carbohim – Wood and Chemical Company (U.S.), Jubilant Life Sciences Ltd (India), Celanese Corporation (U.S.), EniChem (Italy), SEKAB (Sweden), PT. Indo Acidatama Tbk (Indonesia), Chiba Ethyl Acetate Co., Ltd (China), The Nippon Synthetic Chemical Industry Co., Ltd (Japan), and Dairen Chemical Corporation (Taiwan) among others.
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The North American market is expected to grow at a higher CAGR due to extensive consumption of ethyl acetate in decaffeination process of coffee, tea leaves, and cocoa. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for ethyl acetate as a solvent, intermediates and cleansing agents in the major sectors are estimated to drive the market during the forecast period.
Among these, Asia Pacific holds the major share of the global market and is projected to continue leading owing to the increasing consumption of ethyl acetate in food & beverage, pharmaceutical, cosmetics, textiles, and others. It is estimated that the food & beverage segment is set to observe the highest CAGR in the market due to the growing use of the product in flavored candy, baked food, gum, and others. Moreover, the increasing demand for ethyl acetate in cosmetics, pharmaceutical, and paints & coatings sectors have propelled the market to witness a rapid growth during the forecast period. These factors have led to China, India, and Japan to be the major players of this region.
- Ethyl Acetate market manufacturers
- Traders and Distributors of Ethyl Acetate market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
It is predicted that the cosmetics segment is set to grow at a higher CAGR due to increasing consumption of ethyl acetate in beauty products such as lip products, nail products, and hair color products to add fragrance, and cost-effective nature to the product. The pharmaceutical segment is projected to expand at a significant rate due to growing use of ethyl acetate as an extraction agent, intermediate in the industry.
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The global ethyl acetate market is segmented into the application. The market by application is further categorized into food & beverage, pharmaceutical, cosmetics, textiles, paints & coatings, adhesives & sealants, and others.
The ethyl acetate market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the market due to the growing consumption of ethyl acetate in the food & beverage, pharmaceutical, cosmetics, textiles, and others. The food & beverages segment holds the major portion and is anticipated to continue its dominance in the global market as a flavor enhancer and add different flavors to various products in the industry. Therefore, countries such as China, Japan, and India are the major players in this market.