PUBLISHER: The Business Research Company | PRODUCT CODE: 1675243
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675243
Ethyl acetate is an organic compound, the acetate ester formed by combining acetic acid and ethanol. It's a colorless liquid with a fruity odor, less dense than water, and vaporizes in air. Ethyl acetate is a natural product found in various plants such as Vitis rotundifolia and Cinnamomum burmannii. It is used as a solvent in paints, coatings, cleaning mixtures, decaffeinating coffee beans, and more.
The primary sales channels for ethyl acetate include direct company sales, direct import, and distributors & traders. Direct company sales involve utilizing various activities to sell ethyl acetate products directly to customers. The diverse applications of ethyl acetate span adhesives and sealants, paints and coatings, pigments, process solvents intermediates, and various other applications. These applications find use in end-user industries such as automotive, artificial leather, food and beverage, pharmaceuticals, and other sectors.
The ethyl acetate market research report is one of a series of new reports from The Business Research Company that provides Ethyl acetate market statistics, including ethyl acetate industry global market size, regional shares, competitors with ethyl acetate market share, detailed Ethyl acetate market segments, market trends and opportunities, and any further data you may need to thrive in the ethyl acetate industry. This ethyl acetate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The ethyl acetate market size has grown strongly in recent years. It will grow from $5.12 billion in 2024 to $5.6 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to chemical manufacturing demand, growth in packaging industry, textile industry applications, adhesive and sealant manufacturing, automotive paints and coatings.
The ethyl acetate market size is expected to see rapid growth in the next few years. It will grow to $8.64 billion in 2029 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to bio-based and sustainable production, growth in paint and coating industry, expanding pharmaceutical sector, flexible packaging materials, increasing demand for printing inks. Major trends in the forecast period include growing demand in food and beverage industry, expanding applications in the paints and coatings sector, shift towards bio-based ethyl acetate, increasing use in pharmaceuticals, fluctuating raw material prices.
The escalating demand for paints and coatings is anticipated to drive the growth of the ethyl acetate market. Ethyl acetate serves as a common industrial solvent in paints and coatings, playing a crucial role in dissolving pigments and acting as a hardener, resulting in long-lasting effects on surfaces after application. The construction industry's expansion and the increased application of painting and coating on existing buildings and infrastructure for both decorative and protective purposes have led to a significant uptick in the usage of paints and coatings. As per an article in European Coatings, the volume of paints and coatings witnessed a notable increase, rising from 14 percent in 2021 to 22 percent in 2022. This surge in volume was primarily attributed to applications involving the decoration of new and existing infrastructure. Consequently, the heightened demand for paint and coating applications stands out as a driving force behind the growth of the ethyl acetate market.
The anticipated growth in the pharmaceutical industry is expected to drive the expansion of the ethyl acetate market. The pharmaceutical industry, a crucial sector within healthcare, focuses on activities such as research, development, manufacturing, and commercialization of drugs for the treatment of diseases and medical conditions. Ethyl acetate plays a versatile role as a solvent in the pharmaceutical sector, being utilized in the extraction of bioactive compounds, synthesis of pharmaceutical intermediates, coating and film formation, and the formulation of topical products, all while maintaining relatively low toxicity levels. For example, data from June 2023, as reported by the European Federation of Pharmaceutical Industries and Associations (EFPIA), indicates that the total pharmaceutical production in Europe reached $384,200 million (€340,000 million) in 2022. This marked an increase of approximately 4.95% from the previous year, where the production was valued at 366,267 million (€323,950 million) in 2021. Therefore, the rising demand within the pharmaceutical industry emerges as a significant driver for the growth of the ethyl acetate market.
Major companies in the ethyl acetate market are increasingly engaging in partnerships to drive innovation, develop new products, and fortify their positions in the market. These collaborations and partnerships are instrumental in leveraging complementary expertise, accelerating the development and commercialization of advanced products, and combining resources and capabilities for mutual benefits. For instance, in January 2022, CropEnergies AG, a Germany-based company specializing in bioethanol and other bio-based products, entered into a partnership with Johnson Matthey, a UK-based specialty chemicals and sustainable technologies company. This strategic partnership utilizes Johnson Matthey's technology to produce renewable ethyl acetate. The collaboration aims to reduce the fossil carbon footprint of various common products and provide consumers with sustainable options. Johnson Matthey's environmentally friendly technique generates ethyl acetate while minimizing carbon emissions. The facility is designed to use renewable energy to produce 50,000 tons of renewable ethyl acetate annually from renewable ethanol feedstock. This partnership exemplifies a commitment to sustainability and innovation within the ethyl acetate market.
The surge in demand for cosmetic products is a significant driver for the ethyl acetate market. Cosmetic products, encompassing a wide range of items applied to the human body for purposes such as enhancing appearance, cleansing, maintaining good condition, and altering features, have witnessed a growing demand. Ethyl acetate plays a versatile role in various cosmetic products, acting as a solvent that efficiently dissolves different ingredients. This allows for smooth blending and the creation of a uniform product. For example, data from August 2023, as reported by Circana, Inc., a US-based media company, reveals that sales of prestige beauty products in the US reached $14 billion in the first half of 2023, indicating a 15% increase compared to the same period in 2022. Simultaneously, the mass beauty market generated $28 billion with a 9% growth. This highlights a robust demand for cosmetic products, driving the growth of the ethyl acetate market.
In September 2023, INEOS Acetyls, a global manufacturer and supplier of acetic acid and related chemicals based in Switzerland, announced its agreement to acquire Eastman Chemical Company's Texas City Operations for around $490 million. This acquisition highlights INEOS's dedication to growing its acetyl business and optimizing operations by utilizing the site's competitive feedstocks. Eastman Chemical Company, headquartered in Tennessee, is a chemical company that supplies various chemicals, including ethyl acetate.
Major companies operating in the ethyl acetate market include Celanese Corporation, INEOS Group Ltd., Solvay S.A., Jiangsu Sopo (Group) Co., Ltd., Sekab Biofuels & Chemicals AB, Eastman Chemical Company, Daicel Corporation, Shandong Jinyimeng Group Co., Ltd., Wuxi Baichuan Chemical Industrial Co., Ltd., Yip's Chemical Holdings Limited, Shanghai Huayi Group Corporation Limited, Godavari Biorefineries Ltd., Ashok Alco-Chem Limited, Sasol Ltd., Rhodia Acetow GmbH, Lonza Group AG, Chang Chun Petrochemical Co., Ltd., BASF SE, Tianjin Soda Plant Co., Ltd., Yankuang Lunan Chemical Co., Ltd., Anhui Wanwei Group Co., Ltd.
Asia-Pacific was the largest region in the ethyl acetate market in 2024 and is expected to be the fastest-growing region in the ethyl acetate market during the forecast period. The regions covered in the ethyl acetate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ethyl acetate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ethyl acetate market consists of sales of ethyl acetate that is used as solvent for varnishes, paints and lacquers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ethyl Acetate Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ethyl acetate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ethyl acetate ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ethyl acetate market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.