Global Ethyl Acetate Market - Segmented by Application, End-User and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global ethyl acetate market is estimated to witness a CAGR of 5.8% during the forecast period. Asia-Pacific is expected to lead the market in both production as well as consumption during this period. Increasing investments and strong growth in the end-user industries, such as food & beverage, paints & coatings, cosmetics, pharmaceutical, plastics, packaging, etc. in the region is expected to drive the market
Growing Demand for Flexible Packaging
Flexible packaging has established itself as the most sought after form in the packaging industry, owing to the benefits, such as greater flexibility, comparatively low cost, light weight of the products, different sizes, shelf life, and ease of recycling. All such benefits of flexible packaging have been increasing its application in various industries. In the past few years, it has been noticed that industries have started preferring flexible packaging, to rigid packaging. Ethyl acetate is used as solvent for high-resolution printing inks and laminated adhesives in all kind of flexible packaging and plastic films, owing to its fast evaporating properties. Therefore, the rising demand for flexible packaging is driving the demand for ethyl acetate market. The trend is expected to continue during the forecast period, as the demand for flexible packaging has been increasing with the emerging e-commerce and e-retail business.
Food & Beverage serves as the Largest End-user
Among various end-user industries, food & beverage is expected to dominate the demand for ethyl acetate, owing to its wide application as flavor enhancer in the food & beverage industry. It is extensively used for providing various flavors, such as pineapple, bananas, strawberries, and others, to food products. Strong growth of food & beverage industry, especially in Asia-Pacific because of increasing trend of online food deliveries and e-retail business in the region, is projected to drive the demand for ethyl acetate market during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific is expected to dominate the market during the forecast period, followed by Europe and North America. Asia-Pacific has become one of the attractive markets for investment, owing to the presence of emerging economies, such as China, India, Indonesia, etc., in the region. The industries, such as food & beverage, pharmaceutical, plastics, paints & coatings, packaging, and automotive, have been witnessing substantial investments and have also been attracting foreign investments into the sectors. With growth in such industries, the demand for ethyl acetate is projected to increase noticeably in the region. Besides this, the demand for ethyl acetate in other regions, like Europe, Middle-East & Africa, and others, is expected to be driven by the growth in demand from food & beverage, automotive, pharmaceutical and other industries in the region.
Major Players - INEOS Group Limited, Celanese Corporation, Eastman Chemical Company, Jiangsu Sopo (Group) Co., Ltd. and Jinyimeng Group Co. Ltd, amongst others.
Reasons to Purchase this Report
To understand the impact, growing flexible packaging demand on the ethyl acetate market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application & end-user in the ethyl acetate market
Region & countries expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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