Ethyl Acetate Market Size – USD 4,278.0 Million in 2020, Growth – CAGR of 3.90%, Increase in demand for ethyl acetate as a solvent in the paints & coatings
NEW YORK CITY, NY, UNITED STATES, October 27, 2021 /EINPresswire.com/ — Increasing demand for ethyl acetate in the online retails especially in the emerging nations coupled with high investments in R&D of ethyl acetate, are fueling the market growth.
Reports and Data have recently added a new report titled “Global Ethyl Acetate Market Research Report 2021” to its ever-expanding repository which offers a comprehensive overview of the Ethyl Acetate market including current and emerging trends, consumer behavior patterns, competitor strategies, brand promotions, and product launches, among others. The global ethyl acetate market is forecast to reach USD 5,849.7 Million by 2028, according to a new report by Reports and Data. Ethyl acetate is an organic compound with a colorless liquid formation and has a distinctive sweet and fruity smell. This compound is widely mixed as the solvent and diluent in the paints & coatings and adhesives & sealants for its comparatively low cost, low toxicity, and agreeable odor. It is commonly used in nail varnish removers and in the color and inks to mark fruit or vegetables.
The Asia Pacific market is forecasted to generate the highest revenue of USD 2.04 Billion in the year 2027, owing to its extensive demand for ethyl acetates in the adhesive, paint, and packaging industries. The Asia Pacific, with its elevated growth in consumer goods especially the foods and beverages in China, India, and Indonesia, is likely to retain its superiority in this market. China and India are some of the fastest-growing markets, while Germany and Japan hold some of the most prominent players in the market.
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Key participants include Celanese Corporation, Eastman, Chemical Company, Jubilant Life Science Ltd., Jiangsu Sopo (Group) Co., Ltd., INEOS, PT. Indo Acidatama Tbk, Solvay S.A., Daicel Corporation, Sipchem, and Merck KGaA.
Materials and chemicals industry deals with the production and manufacturing of raw materials and chemicals for every end-use industry. The chemical industry produces industrial chemicals and raw materials and is a crucial part of the economy of every country. The increasing growth of end-use industries, rising penetration of materials informatics, the advent of 3D printing, and integration of advanced technologies and machinery are key factors contributing to revenue growth of the market. Furthermore, the rising number of product approvals, launches, and strategic alliances have significantly contributed to market growth. The report offers an extensive database for technological developments and product advancements.
Further key findings from the report suggest
A massive quantity of ethyl acetate is required to use in the manufacturing of flexible packaging and polyester, Biaxially Oriented Polypropylene (BOPP) films. The treatment of the aluminum films involves this organic compound as a solvent. Also, the high printing resolution provided by this compound on both the plastics and metal surfaces makes it highly favorable for the packaging industry. The packaging industry sub-segment in the end-use verticals is forecasted to gain a market valuation of USD 0.68 Billion by 2027.
APAC, owing to its impressive advancements in consumer goods especially the foods & beverages and packaging industries in China, India, and Singapore, is expected to grow with the fastest CAGR of 6.3% throughout the forecast period and is expected to retain its superiority in the market by the end of 2027.
The European region is forecasted to witness significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 2.8% during the forecast period. Germany holds some of the most prominent players in this region.
North America, with its high demand for automotive paints, is accounted to retain a significant position in the global market with a market share of about 26.8% by 2027, and the CAGR is calculated to be 5.2% during the forecast period.
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For the purpose of this report, Reports and Data have segmented the global ethyl acetate market on the basis of type of devices, insertion route, applications, end-users, and region:
Distribution Channel Outlook
Paints & Coatings
Adhesives & Sealant
Activator & Hardener
End-Use Verticals Outlook
Food & Beverages
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Source: EIN Presswire