PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251586
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251586
Global Ethyl Acetate Market is valued at approximately USD 5.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.8% over the forecast period 2022-2029. Ethyl Acetate is an organic compound used in numerous places such as agriculture, mining, construction and other sectors. It is a versatile component highly used as a hardener or activator in paint and coatings applications. Due to significant advantages such as excellent solvency power, low vitality, and low toxicity paint and coating are its largest end-users. It is majorly used as paints, varnishes, lacquers, cleaning mixtures, and perfumes. Moreover, various initiatives are taken by the government to fuel its demand because of a wide range of applications and the growing demand for Ethyl Acetate.
Ethyl Acetate is a key ingredient in several industries namely, in the production of adhesives, paint, ink, food and plastics. Its various properties make it an ideal choice, in 2022 the adhesive industry was the second largest end-use market accounting for approximately 28% of total demand. Various Government Initiatives for the ethyl acetate market, it is one of the least toxic and safe solvents for the environment are boosting the market. It has been used to successfully replace hazardous air pollutants (HAPs). The Nexant Solvent Sustainability IndexNSSI rating for ETAC is 49%, with its bio-renewable counterpart scoring 10 points better. The food industry accounts for 25.9% of the share in the market as ETAC also acts as a flavoring agent, adds fragrance and a sweet taste to food. Significant investments in Research & Development to develop products further and various developments by market players add to expanding the future growth of the ETAC market. ETAC has experienced above-average growth in the solvents sector due to a wider range of applications.However, the fluctuating prices of raw material of Ethyl Acetate stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ethyl Acetate Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacificdominated the market with half of the revenue share in 2020. This is due to the growing population followed by a high construction rate and rising needforconsumer goods. This region has numerous manufacturing industries for ethyl acetate because of the rapidly growing automotive sector. In addition, China contributes a large share being the biggest exporter of ethyl acetate.Furthermore, the fastest-growing region is North America due to a rise in preference for synthetic leather products, the developing pharmaceutical industry, and several growing downstream industries.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and End-use offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable