Market Overview:
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.
Industry Updates:
In October 2018, Celanese
Corporation announced a price increase in the Americas.
Market Segmentation:
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:
ü Ineos
ü Jubilant
Life Sciences Ltd.
ü EniChem
ü PT.
Indo Acidatama tbk
ü The
Nippon Synthetic Chemical Industry Co. Ltd.
ü Dairen
Chemical Corporation
ü Chiba
Ethyl Acetate Co. Ltd.
ü SEKAB
ü Celanese
Corporation
ü Carbohim
Wood
ü Chemical
Company.
Regional Analysis:
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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