The Ethyl Acetate Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ethyl Acetate Global Market Report 2024, The ethyl acetate market size has grown strongly in recent years. It will grow from $4.7 billion in 2023 to $5.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to chemical manufacturing demand, growth in packaging industry, textile industry applications, adhesive and sealant manufacturing, automotive paints and coatings.
The ethyl acetate market size is expected to see rapid growth in the next few years. It will grow to $7.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to bio-based and sustainable production, growth in paint and coating industry, expanding pharmaceutical sector, flexible packaging materials, increasing demand for printing inks. Major trends in the forecast period include growing demand in food and beverage industry, expanding applications in the paints and coatings sector, shift towards bio-based ethyl acetate, increasing use in pharmaceuticals, fluctuating raw material prices.
The increasing demand for paints and coatings is expected to propel the growth of the ethyl acetate market. Ethyl acetate is commonly used as an industrial solvent in paints and coatings to dissolve pigments and act as a hardener, which gives long-lasting effects after application to surfaces. The construction industry and the application of painting and coating to existing buildings and infrastructure for décor and protection have significantly increased the usage of paints and coatings applications. According to the European Coatings article, paints and coatings saw a rise in volume from 14 percent in 2021 to 22 percent in 2022 with the majority of applications decorating new and old infrastructure. Therefore, the increasing demand for paint and coating applications is driving the growth of the ethyl acetate market.
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The ethyl acetate market covered in this report is segmented –
1) By Sales Channel: Direct Company Sale, Direct Import, Distributors and Traders.
2) By Application: Adhesives and Sealants, Paints and Coatings, Pigments, Process Solvents, Intermediates, Other Applications.
3) By End-user Industry: Automotive, Artificial Leather, Food and Beverage, Pharmaceuticals, Other End-user Industries.
The growing demand for cosmetic products is driving the ethyl acetate market. Cosmetic products are a broad category of products applied to the human body for various purposes, primarily related to enhancing appearance, cleansing, maintaining good condition, and masking or altering features. Ethyl acetate is a versatile ingredient found in a wide range of cosmetic products as a solvent that effectively dissolves various ingredients, allowing them to blend smoothly and create a uniform product. For instance, in August 2023, according to Circana, Inc., a US-based media company, sales of prestige beauty products in the US reached $14 billion in the first half of 2023, a 15% rise over the same period in 2022. On the other hand, the mass beauty market generated $28 billion and saw 9% growth. Therefore, the growing demand for cosmetic products will propel the growth of the ethyl acetate market.
The ethyl acetate market report table of contents includes:
1. Executive Summary
2. Ethyl Acetate Market Characteristics
3. Ethyl Acetate Market Trends And Strategies
4. Ethyl Acetate Market – Macro Economic Scenario
5. Global Ethyl Acetate Market Size and Growth
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26. South America Ethyl Acetate Market
27. Brazil Ethyl Acetate Market
28. Middle East Ethyl Acetate Market
29. Africa Ethyl Acetate Market
30. Ethyl Acetate Market Competitive Landscape And Company Profiles
Top Major Players:
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