The Ethyl Acetate Market is expected to reach a value of USD 4,365 Million by the end of the forecast period, registering a CAGR of 9.0%. Fake fruit essences, artificial flavor, ice cream, pastries, tea and coffee, and nail polish are all examples of ethyl acetate’s many applications. Ethyl ethanoate is another name for it. This substance is colorless, and it is commonly used in glues. Ethyl acetate is very flammable and soluble in alcohol, ketones, and Easter’s. Cleaning, coasting, and stripping paint have all been done with it. Increased lather production, expanding use of ethyl acetate in paintings, enamels, and other chemical processes changing customers’ lifestyles, and other broad applications of ethyl acetate are all contributing to the industry’s growth.
The covid-19 pandemic has caused significant damage to many businesses and organizations. Work has come to a halt in various industries as a result of the covid-19 social distancing rules and a labor shortage. As a result of the shutdown, businesses have been compelled to close temporarily. As a result of these factors, several factories have shut down. Manufacturing of ethyl acetate has also been halted as a result of Covid-19. As a result of lesser production, demand for ethyl acetate has declined. The covid-19 outbreak also damaged the food, construction, leather, and other industries, causing a drop in demand for the ethyl acetate market.
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Market Segmentation
Based on the application, the Ethyl Acetate Market is segmented into coating formulations, flavor enhancers, adhesives & sealants, pigments, process solvents, and others.
Based on the end-user industry, the Ethyl Acetate Market is segmented into food & beverages, pharmaceuticals, automotive, paints and coatings, artificial leather, and others.
Based on the region, the Ethyl Acetate Market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
Regional Classification
Due to increasing demand for ethyl acetate in industries such as pharmaceuticals, food & drinks, paints & coatings, and automotive, the Asia Pacific has the largest ethyl acetate market share. The price is greater in this region of ethyl acetate as compared to others. Aside from that, the market in this region is expanding as a result of improved economic conditions, government initiatives, and a growing population. North America has the second-largest ethyl acetate market share, thanks to the growing automotive sector, economy, demand for foods and drinks, and pharmaceuticals. Due to increased car component production in Europe, the market in this region is expected to grow substantially. In the Asia Pacific region, ethyl acetate is less expensive. The high level of investment in pharmaceutical enterprises is one of the key reasons driving the growth of the ethyl acetate market in Europe.
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Industry News
The major key players in the market are Celanese Corporation (US), Eastman Chemical Company (US), INEOS (UK), Jubilant Life Sciences (India), Lonza (Switzerland), Sekab (Sweden), PT. Indo Acidatama Tbk (Indonesia), Merck KGaA (Germany), Solvay (Belgium), Shandong Jinyimeng Group Co. Ltd. (China), Daicel Corporation (Japan), Kai Co., Ltd. (South Korea), Sipchem (Saudi Arabia), Showa Denko K.K. (Japan), Jiangsu SOPO (Group) Co., Ltd. (China), Solventis (UK), Ashok Alco – chem Limited (India), Kanoria Chemicals & Industries Limited (India), Yip’s Chemical Holdings Limited (China), and Godavari Biorefineries Ltd. (India).
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-Commerce
4.1.4 End Use
4.2 Porter’s Five Forces Analysis
4.2.1 Threat Of New Entrants
4.2.2 Bargaining Power Of Buyers
4.2.3 Bargaining Power Of Suppliers
4.2.4 Threat Of Substitutes
4.2.5 Intensity Of Competitive Rivalry
5 Market Dynamics Of The Global Ethyl Acetate Market
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends/Technology
6. Global Ethyl Acetate Market, By Application
6.1 Introduction
6.2 Adhesives & Sealants
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast, By Region, 2020-2027
6.3 Coatings Formulations
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast, By Region, 2020-2027
6.4 Pigments
6.4.1 Market Estimates & Forecast, 2020-2027
6.4.2 Market Estimates & Forecast, By Region, 2020-2027
6.5 Flavor Enhancer
6.5.1 Market Estimates & Forecast, 2020-2027
6.5.2 Market Estimates & Forecast, By Region, 2020-2027
6.6 Process Solvents
6.6.1 Market Estimates & Forecast, 2020-2027
6.6.2 Market Estimates & Forecast, By Region, 2020-2027
6.7 Intermediates
6.7.1 Market Estimates & Forecast, 2020-2027
6.7.2 Market Estimates & Forecast, By Region, 2020-2027
6.8 Others
6.8.1 Market Estimates & Forecast, 2020-2027
6.8.2 Market Estimates & Forecast, By Region, 2020-2027
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