The global ethyl acetate market is expected to post a stable CAGR through the forecast period from 2018 to 2023, according to a new research report from Market Research Future (MRFR). The global ethyl acetate market is profiled in detail in the report, which takes a look at the historical growth trajectory exhibited by the market and the market’s present statistics in order to deliver projections about the market’s likely future growth trajectory over the forecast period.
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Ethyl acetate is an organic compound produced commonly through the ethanol dehydrogenation process as well as through the Fischer esterification reaction between ethanol and acetic acid. It is used in a wide range of applications in the food and beverage, cosmetics, paints and coatings, adhesives and sealants, pharmaceutical, and textile industries. The slightly sweet taste of ethyl acetate is likely to be crucial to the growth prospects of the global ethyl acetate market over the forecast period, as it is used in a number of food and beverage applications as a flavoring agent. It is also used in the production of artificial food flavors, including fruit flavors such as pineapple and strawberry. This is likely to be a major growth driver for the global ethyl acetate market over the forecast period, as the demand for artificial food flavoring is likely to grow at a rapid growth rate over the forecast period.
The growing demand for ethyl acetate from the pharmaceutical and cosmetics industries is also likely to be a major driver for the global ethyl acetate market over the forecast period. One of the leading applications of ethyl acetate in the cosmetics industry is in nail polish removers and other nail care products. It is also used in lip care and hair care products in small amounts as a flavorant. The growing scope of the cosmetics and personal care products industry is likely to be a major driver for the global ethyl acetate market over the forecast period. The growing disposable income of consumers in emerging regions of the world, such as the Middle East, Asia Pacific, and Latin America is thus likely to be a major driver for the ethyl acetate market over the forecast period.
In October 2018, Celanese Corporation announced a price increase in the Americas.
By application, the Global Ethyl Acetate Market is segmented into food and beverage, pharmaceutical, cosmetics, textiles, paints and coatings, adhesives and sealants, and others.
The food and beverage segment is likely to dominate the global ethyl acetate market over the forecast period due to the growing demand for artificial flavoring in food products. The increasing demand for fruit-flavored sports drinks and energy drinks is also likely to drive the demand for artificial flavoring, thus leading to a steady rise in the global ethyl acetate market. The pharmaceutical and cosmetics applications of ethyl acetate are also expected to grow over the forecast period.
Top 10 Leading Player:
- Jubilant Life Sciences Ltd.
- Indo Acidatama tbk
- The Nippon Synthetic Chemical Industry Co. Ltd.
- Dairen Chemical Corporation
- Chiba Ethyl Acetate Co. Ltd.
- Celanese Corporation
- Carbohim Wood
- Chemical Company.
The global ethyl acetate market is dominated by Asia Pacific due to the growing presence of the food and beverage industry in the region and the growing demand from the cosmetics sector. The growing demand for packaged food and beverages in Asia Pacific is likely to be a major driver for the ethyl acetate market in the region over the forecast period. Food flavoring is likely to emerge as a crucial market in the Asia Pacific region over the forecast period due to the growing disposable income of the consumers in the region and the consequent rise in the demand for flavored food. The growing disposable income of consumers in Asia Pacific is also likely to be reflected in the growing share of the cosmetics industry in the growth of the ethyl acetate market in the region over the forecast period.
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