Market Insights:
Ethyl acetate is an organic compound produced by Fischer
esterification reaction between ethanol and acetic acid or ethanol
dehydrogenation process. The ethanol dehydrogenation process is considered as
an economical one and widely used in a chemical plant. It is colorless and
possesses a sweet smell. Moreover, changing lifestyle and growing personal care
concerns are the important trends and factors promoting the market growth
positively. Therefore, they are used in various applications such as food &
beverage, pharmaceutical, cosmetics, textiles, paints & coatings, adhesives
& sealants, and others.
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Among the various segments of the Ethyl Acetate Market, the
food & beverage segment holds the major portion and is anticipated to
continue its dominance as a flavor enhancer in the food production. This
product is mainly used in the production of various flavors such as pineapple,
bananas, strawberries, and others. It is predicted that the cosmetics segment
is set to grow at a higher CAGR due to increasing consumption of ethyl acetate
in beauty products such as lip products, nail products, and hair color products
to add fragrance, and cost-effective nature to the product. The pharmaceutical
segment is projected to expand at a significant rate due to growing use of
ethyl acetate as an extraction agent, intermediate in the industry.
Additionally, the extraction agents and intermediates are used widely in the
production of medicines. Ethyl acetate is used in numerous coating formulations
such as epoxies, urethanes, cellulosic, acrylics, vinyl, and others. Therefore,
these factors are projected to drive the paints & coating segment during
the forecast period.
Segmental Analysis:
The Ethyl
Acetate Market is segmented on the basis of application. By
application, the market is segmented into segments such as pharmaceutical, food
& beverage, adhesives & sealants, cosmetics, paints & coatings,
textiles, and others.
Competitive Analysis
The noteworthy success factors in the market are
accomplished without difficulty in the market which is contributing to a raised
tempo of progress in the forecast period. The innovation in products and
services of the markets will modify the progression of the market notably. The
market pull and competitors’ propensities are markedly enhanced by the
strategies that are being used by market competitors.The heightened level of
prominence placed on the variants of the products is growing the number of
customers in the market appreciably.
· Jubilant Life Sciences
Ltd
· The Nippon Synthetic
Chemical Industry Co., Ltd
· EniChem
· Celanese Corporation
· PT. Indo Acidatama Tbk
· INEOS
· Carbohim – Wood and
Chemical Company
· SEKAB
· Chiba Ethyl Acetate
Co., Ltd
· Dairen Chemical
Corporation
Detailed Regional Analysis
The market is segmented into regions such as Latin America,
North America, Asia Pacific, Europe, and the Middle East & Africa. Among
these regions, the Asia Pacific region controls the key share of the market
owing to the increasing consumption of Ethyl Acetate Market in the
pharmaceutical, food & beverage, textiles, cosmetics, and others. The food
& beverages segment leads the major portion of the market and is expected
to carry on its domination in the market as a flavor enhancer and add diverse
flavors to various products in the industry. The North American region is
rising radically owing to an amplified consumption of ethyl acetate in the
decaffeination process to cut the caffeine content of coffee, cocoa and tea
leaves. It is forecasted that the rising investment in the end-use industries
is expected to direct the market growth through the forecast period. The
European market has also witnessed an outstanding level of growth owing to
widespread use of ethyl acetate in the production of beverages, wines, and
others. The Latin American region is likely to observe a predictable progress
in the market owing to the increasing consumption of ethyl acetate in paints &
coatings industries and textiles to impart aesthetic look and cost-effective
nature to the product.
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