Market Research Future Published a Half Cooked Research Report on “Global Ethyl Acetate Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
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) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Ethyl Acetate Market.
Ethyl Acetate Market – Overview
The Global Ethyl Acetate Market is growing with the rapid pace; mainly due to the expanding automotive and construction industries. According to a recent study report published by the Market Research Future, the global market of Ethyl Acetate is prospering and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2027).
Globally, the market for Ethyl Acetate is driven by the region Asia pacific, owing to the growth in the population resulting in to increasing demand for surface coatings in automotive and construction industries among others. Ethyl Acetate is used as a solvent in inks and food & beverage packaging due to its sweet smell and economical nature. Moreover, Ethyl Acetate improves the physical and chemical features of the product.
Rapid urbanization coupled with technology signifies the growth of automotive and construction industries. Moreover growing industries such as consumer goods, and packaging provide impetus to theEthyl Acetate Market growth.
On the other hand, the growing substitution of Ethyl Acetate by water based and solid coatings due to its volatile organic emissions is estimated to hinder the market growth.
Ethyl Acetate is an organic compound produced by Fischer ethanol esterification and ethanol dehydrogenation process. This process is termed as an economic process and widely used in a chemical plant. Ethyl Acetate is prominently used in automotive, construction, pharmaceuticals, medical, food & beverages, packaging, to produce best quality products in the sectors.
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A quick evaporating nature and a sweet smell have led this Ethyl Acetate product to be used in perfume, health care, and cosmetics sectors.
Ethyl Acetate Market – Competitive Analysis
The Ethyl Acetate Market appears to be competitive with the presence of several large and small players operating in the generation and production of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Ethyl acetate market is set to grow at a higher CAGR which is likely to attract many entrants to the market resulting in to strong competition in the future. Manufacturers functioning in the ethyl acetate market are striving to respond to the growing demand for organic compound from automotive, construction, chemicals, and pharmaceuticals attributed to the recent plant expansion, technological advancement in the sectors. They ensure to deliver the best quality products based on innovative technologies, and best practices.
Industry/ Innovation/ Related News:
July 8, 2016 – INEOS (Switzerland), one of the key manufacturers of ethyl acetate, announced that the company has decided to increase the production capacity of ethyl acetate by 100,000 tonnes a year. This has led to a surge in demand for the product in automotive, construction, paints & coatings, packaging, food & beverages, and others. This deal was announced after the Europe referendum vote. Moreover, this investment is set to drive the market on a higher rate over the assessment period.
July 7, 2017 – INEOS (Switzerland) the largest producer of ethyl acetate in the world, is facing production problems at its plant in Hull, UK. The plant has a capacity of 250,000 mt/yr. This problem has forced the company to stop its production and sale for a while by pressurizing other manufacturers and suppliers to step up in the competition. Due to these factors, the market growth has been hindered by volatile prices of ethyl acetate as well as instability in the production process.
Ethyl Acetate Market – Regional Analysis
Geographically, Asia-Pacific region leads the Global Ethyl Acetate Market. Japan is the leading player in the market owing to rapid urbanization and growing investments in heavy end-use industries. Increasing demand of ethyl acetate in automotive, pharmaceuticals, construction, paints & coatings, food & beverages and packaging has boosted the Ethyl Acetate Market demand in China, India, Malaysia and Thailand. North America has witnessed significant growth owing to growing health consciousness about the ill-effects of soft drinks and this has created a surge in the production of Ethyl Acetate product in the industries. Additionally, the market in the European region has received a significant boost due to growing consumption of Ethyl Acetate product in automotive, food & beverages, and other sectors.
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