The global
ethyl acetate market size is expected to reach USD 4,368.9 million by 2027, exhibiting a CAGR of 9.07% during the forecast period. The
growing application of ethyl acetate in the paints & coatings industry is
expected to foster healthy growth of the market, states Fortune Business Insights, in a report, titled “Ethyl
Acetate Market Size, Share & Industry Analysis, by application (Paints
& Coating, Printing Ink, Process Solvent, Food & beverage, and Others),
and Regional Forecast, 2020-2027.” The market size stood USD 3,323.2 million in 2019.
The Report Lists the Main
Companies in the Ethyl Acetate Market:
- INEOS (UK)
- Celanese
(US)
- Eastman
Chemical (US)
- Jiangsu Sopo
(China)
- Jiangmen
Handsome (China)
- Wuxi
Baichuan (China)
- Jubliant
(India)
- GODAVARI
BIOREFINERIES LTD. (India)
- Sekab
(Sweden)
- Korea
Alcohol (South Korea)
- IOL
Chemicals and Pharmaceuticals (India)
- Other key market players
 |
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The report on the ethyl acetate market
includes:
- An excellent
report on the market
- Vital stats
about main regions
- Recent
developments
- Wide-ranging
data about eminent players
- COVID-19
impact on the market
Drivers & Restraints:
Growing Utilization of Printing Ink to
Support Development
The
developing printing ink industry in various regions around the world will
contribute positively to the growth of the market. The growing consumption of
ethyl acetate in the manufacturing of printing ink will foster the healthy
growth of the market. The evolving lifestyle of people will influence the
healthy growth of the market. The increasing juggernaut production capacities
of required solvents such as ethyl solvents used in the manufacturing of
printing ink will have a tremendous impact on the market.
Moreover, the desired properties of ethyl acetate make it ideal for manufacturing both flexographic and rotogravure printing inks. Hence, the growing demand for flexographic and rotogravure printing inks will simultaneously enable speedy expansion of the market in the forthcoming years.
Read Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/ethyl-acetate-market-104056
Regional Insights:
High Production of Ethyl to Promote Growth in
Asia Pacific
The market
size in Asia Pacific stood at USD 2,312.3 million in 2019 and is expected to
dominate the global market owing to the growing production of chemicals in
China, India, Indonesia, Taiwan. China is the largest manufacturer and exporter
of ethyl acetate in the world. In India, sugarcane molasses is the largest
source of ethanol production, thus aiding in ethyl acetate creation in large
quantities. Moreover, India exports substantial quantities of ethyl acetate to
Europe. The ongoing export activities will back the growth of the market in
Asia Pacific.
Europe is
expected to exhibit a high growth rate owing to the increasing consumption of
ethyl acetate. The presence of major paints & coating manufacturing
companies such as Akzo Nobel, BASF, Jotun, and others will further foster
growth in the region. The market in North America is expected to hold a
relatively small market share compared to other regions.
Competitive Landscape:
Key Companies Focus on Enhancing
Manufacturing Capacities to Strengthen Their Positions
The market
is fragmented with the presence of multiple manufacturers that are trying to
gain dominance. Numerous Chinese companies, such as Wuxi Baichuan, Jiangmen
Handsome, and Jiangsu Sopo are persistently striving to enhance their
manufacturing capacities. A few others are adopting the strategy of mergers and
acquisitions to gain a competitive edge.
Key Industry Development:
- August 2019:
Celanese Corporation, a renowned player in the ethyl acetate market, announced
that it has increased the price of its ethyl acetate product in the European
market. It increased the cost by around EUR 110 per ton.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-ethyl-acetate-market-10292
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