Ethyl Acetate Market is used in diverse applications, which is capable of offering quick evaporating nature, flavor, and fragrance, and extended shelf life to the final product. Thus, they are used in various applications such as food beverage, pharmaceutical, cosmetics, textiles, paints coatings, adhesives sealants, and others. The global ethyl acetate market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading owing to the increasing consumption of ethyl acetate in food beverage, pharmaceutical, cosmetics, textiles, and others. It is estimated that the food beverage segment is set to observe the highest CAGR in the market due to the growing use of the product in flavored candy, baked food, gum, and others. Moreover, the increasing demand for ethyl acetate in cosmetics, pharmaceutical, and paints coatings sectors have propelled the market to witness a rapid growth during the forecast period. These factors have led to China, India, and Japan to be the major players of this region.
The Ethyl Acetate Market is slated to reach valuation of USD 4,365.0 Million by 2027 registering a CAGR of 9.0%.
The North American market is expected to grow at a higher CAGR due to extensive consumption of ethyl acetate in decaffeination process of coffee, tea leaves, and cocoa. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for ethyl acetate as a solvent, intermediates and cleansing agents in the major sectors are estimated to drive the market during the forecast period.
A notable development is achieved in Europe due to the growing demand for ethyl acetate in cosmetics, adhesives sealants, paints coatings, sectors, and others. The rapid urbanization coupled with changing lifestyles have propelled the market to witness a higher growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.
A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of the product in paints coatings, adhesives sealants, textiles and pharmaceutical sectors. Moreover, a rapid development is estimated in the Middle East African region such as Qatar, the U.A.E, and others due to increasing demand for ethyl acetate in major industries.
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The global ethyl acetate global demand like segmented into the application. On the basis of the application, the market is further segregated into food beverage, pharmaceutical, cosmetics, textiles, paints coatings, adhesives sealants, and others.
Some of the well-known players operating in the global ethyl acetate market are INEOS (Switzerland), Carbohim – Wood and Chemical Company (U.S.), Jubilant Life Sciences Ltd (India), Celanese Corporation (U.S.), EniChem (Italy), SEKAB (Sweden), PT. Indo Acidatama Tbk (Indonesia), Chiba Ethyl Acetate Co., Ltd (China), The Nippon Synthetic Chemical Industry Co., Ltd (Japan), and Dairen Chemical Corporation (Taiwan) among others.
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