Ethyl acetate is also known as acetic ether or acetic ester, ethyl acetate is a colourless liquid, which is highly miscible with all organic compounds (solvents), such as glycols, ketones, alcohols, and esters. Ethyl acetate is used as a solvent due to its dilution properties. At a high purity level, it is used as a nail polish remover and in cleaning electric circuit boards. While, at a lower purity level, it is used in pharmaceuticals, printing, perfumes, textile, and decaffeination of coffee/tea and as a carrier solvent for herbicides. Ethyl acetate is synthesized by ethanol dehydrogenation hydrogenation process (Tishchenko Reaction) or by the Fischer ethanol and acetic acid esterification process. It is extensively utilized in the perfume industry owing to its quick evaporation properties and sweet fragrance. However, it should be handled and stored appropriately to avoid potential health hazards. Ethyl acetate is an excellent solvent for nitrocellulose, chlorinated rubber, cellulose ethers, celluloid, and for some natural and synthetic resins as well. A combination of ethyl acetate and 20% ethanol is an excellent solvent for cellulose acetate. It is used in several industries owing to its low cost and toxicity levels. It is majorly used as an activator or hardener in paints and entomological killing agent and as a solvent in inks, enamels, and other chemical processes.
Ethyl Acetate Market: Key Players
The research study includes profiles of leading companies operating in the global ethyl acetate market. Key players profiled in the report include: Celanese Corporation, Eastman- Chemical Company, Jubilant Life Science Ltd., Jiangsu Sopo (Group) Co. Ltd., INEOS, PT. Indo Acidatama Tbk, Solvay S.A., Daicel Corporation, and Merck KGaA & Sipchem.
Drivers for the Global Ethyl Acetate Market:
The market is growing continuously due to the growing demand for ethyl acetates in the food & beverages for its distinctive sweet flavor and in the adhesives & sealants as a comparatively low-cost solvent. Owing to a high rise in the disposable income in the emerging countries, the fascinations for the architectural improvement has been a high propellant factor for this market. However, The textile industry has also been a crucial end-use vertical for this market as this chemical compound is used as a solvent which works as a moistening and softening agent for the textiles. While the low toxic and biodegradable nature with very high flash point characteristics of ethyl acetate makes it a highly demanding and largely accepted solvent in the paint & coatings and adhesives & sealant industries worldwide. Thus all these factors are boosting the growth of the ethyl acetate market.
Opportunities for the Global Ethyl Acetate Market:
Ethyl acetate has its applications in a range of painting formulas in the paints and coatings business, such as epoxies, urethanes, cellulosic, acrylics, and vinyl. Ethyl acetate is the main use in oils as an activator and hardener. The global market for paints and coatings is rising at a healthy rate, largely due to the increasing housing construction activities in Asia-Pacific emerging economies, along with a rise in Asia-Pacific and Europe automobile production. With increasing housing development, population, and income levels in countries like India, China, Mexico, and Brazil, furniture demand is rising at a healthy rate. This scenario is expected to increase demand for wood coatings, in effect enhancing the use of ethyl acetate used to formulate these coatings, which further propels the market demand analyzed during the forecast period. Thus all these factors will create lucrative opportunities for the growth of the ethyl acetate market.
Restrains for the Global Ethyl Acetate Market:
The availability of substitutes of ethyl acetate coatings such as powder, waterborne, two-component coatings system and high solid coatings owing to environmental barriers arising due to emissions generated from volatile organic compound thereby hampering the growth of the global ethyl acetate market. However, the volatility of raw material prices may restrain the market growth during the forecast period. Moreover, prolonged exposure to ethyl acetate causes eye, nose, and throat irritation as well as other severe health-associated issues. This is expected to restrain the market growth. Thus all these factors are hampering the growth of the ethyl acetate market.
Region Wise, Global Ethyl Acetate Market Analysis:
Report covers the region wise analysis, global Ethyl acetate can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global ethyl acetate market share followed by North America & Europe. While the Asia Pacific leads the global ethyl acetate market due to the increasing household incomes and urbanization rates in countries, such as China, India, and Malaysia, etc. China is the world’s second-largest economy in terms of growth, and the increasing level of income of the country’s population is further driving the economy. The demand for ethyl acetate in India has been growing at a rapid rate. While the Automotive, food and beverage, and furniture are the key end-user industries that occupy significant shares in the consumption of ethyl acetate in the country. Moreover, the government’s initiative, to develop smart cities is likely to propel the demand for wood coatings. However, rising floor renovating activities in the country and shift toward wooden flooring, primarily in commercial buildings, such as hotels and resorts, is boosting the demand for ethyl acetate market in Asia-Pacific region.
Global Ethyl Acetate Market: Type Analysis
- Food and Beverage
- Artificial Leather
Global Ethyl Acetate Market: Application analysis
- Adhesives and Sealants
- Paints and Coatings
- Process Solvents
Global Ethyl Acetate Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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