“The Global Ethyl Acetate Market is anticipated to reach about US$ XX Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to increased application of ethyl acetate in the market.
Precision Business Insights (PBI) in its report titled “Global Ethyl Acetate Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global ethyl acetate market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Increased demand of ethyl acetate from various end users such as pharmaceuticals, food and beverages, automotive, packaging, and artificial leather will create a demand for the growth of the market. However replacement of ethyl acetate with other chemicals will hinder the growth of the global ethyl acetate market.
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Global ethyl acetate market segmented on the basis of application and end user.
Solvent Segment Expected to Dominate the Market
Based on application, the global ethyl acetate market is segmented into paints and coating additives, adhesives and sealants, pigments, and solvents. Solvents are expected to dominate the market due to its uses in manufacturing of thinners, varnishes, and nitrocellulose lacquers. Ethyl acetate as solvent is widely used in various industries due to its low toxicity.
Food and Beverages Industry Will Dominate the Revenue Share.
Based on end user the market is segmented into food and beverages, pharmaceuticals, automotive, packaging and artificial leather. Food and beverages industry is expected to dominate the market due to peculiar characteristics of ethyl acetate to bring flavor to baked goods, candy, gums etc.
Asia Pacific Accounts for Major Revenue Share for Global Ethyl Acetate Market
Precision Business Insights (PBI), global ethyl acetate market report analyses the market in different regions of North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, Asia Pacific accounted for major revenue share due to economically emerging countries such as Japan, China, India, and Indonesia. North America ethyl acetate market is expected to account moderate CAGR due to increased demand from the end users such as food and beverages. Europe exhibits a significant growth in ethyl acetate market due to increased application in packaging sector and automotive industry. Latin America shows a significant growth in market owing to increased demand of ethyl acetate from pharmaceuticals. Growth in end user industries such as pharmaceuticals, food and beverages, automotive, and packaging are rapidly expanding in countries of Latin America such as Brazil. Middle East and Africa ethyl acetate market is also expected to rise in the forecast period due to increased demand of packaging from the growing population.
Strategic Acquisitions Play Vital Role in Global Ethyl Acetate Market
Market strategies such as acquisitions play an important role in the development of the market. For instance, INEOS acquired INESCO CHP. The acquisition will ensure the reliable supply of steam, as a critical feedstock, to the INEOS plants.
Key players in the market include 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)
Detailed Segmentation
By Application
o Paints and Coating additives
o Adhesives and Sealants
o Pigments
o Solvents
By End User
o Food and Beverages
o Automotive
o Pharmaceuticals
o Packaging
o Artificial Leather
Geography
o North America
U.S.
Canada
o Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
o Asia-Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
o Latin America
Brazil
Mexico
Argentina
Chile
Rest of Latin America
o Middle East and Africa
South Africa
Gulf Cooperation Council Countries(GCC)
Rest of MEA
For more information:https://precisionbusinessinsights.com/market-reports/global-ethyl-acetate-market/