Ethyl
acetate is an organic compound produced commonly through the ethanol
dehydrogenation process as well as through the Fischer esterification reaction
between ethanol and acetic acid. It is used in a wide range of applications in
the food and beverage, cosmetics, paints and coatings, adhesives and sealants,
pharmaceutical, and textile industries. The slightly sweet taste of ethyl
acetate is likely to be crucial to the growth prospects of the global ethyl
acetate market over the forecast period, as it is used in a number of food and
beverage applications as a flavoring agent. It is also used in the production
of artificial food flavors, including fruit flavors such as pineapple and
strawberry. This is likely to be a major growth driver for the global ethyl acetate
market over the forecast period, as the demand for artificial food flavoring is
likely to grow at a rapid growth rate over the forecast period.
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The
growing demand for ethyl acetate from the pharmaceutical and cosmetics
industries is also likely to be a major driver for the global ethyl acetate
market over the forecast period. One of the leading applications of ethyl
acetate in the cosmetics industry is in nail polish removers and other nail
care products. It is also used in lip care and hair care products in small
amounts as a flavorant. The growing scope of the cosmetics and personal care products
industry is likely to be a major driver for the global ethyl acetate market
over the forecast period. The growing disposable income of consumers in
emerging regions of the world, such as the Middle East, Asia Pacific, and Latin
America is thus likely to be a major driver for the ethyl acetate market over
the forecast period.
In
October 2018, Celanese Corporation announced a price increase in the Americas.
Market Segmentation:
By
application, the global ethyl acetate market is segmented into food and
beverage, pharmaceutical, cosmetics, textiles, paints and coatings, adhesives
and sealants, and others.
The
food and beverage segment is likely to dominate the global ethyl acetate market
over the forecast period due to the growing demand for artificial flavoring in
food products. The increasing demand for fruit-flavored sports drinks and
energy drinks is also likely to drive the demand for artificial flavoring, thus
leading to a steady rise in the global ethyl acetate market. The pharmaceutical
and cosmetics applications of ethyl acetate are also expected to grow over the
forecast period.
Top 10 Leading Player:
ü
Ineos
ü
Jubilant Life Sciences Ltd.
ü
EniChem
ü
PT. Indo Acidatama tbk
ü
The Nippon Synthetic Chemical Industry Co. Ltd.
ü
Dairen Chemical Corporation
ü
Chiba Ethyl Acetate Co. Ltd.
ü
SEKAB
ü
Celanese Corporation
ü
Carbohim Wood
ü
Chemical Company.
Regional Analysis:
The
global ethyl acetate market is dominated by Asia Pacific due to the growing
presence of the food and beverage industry in the region and the growing demand
from the cosmetics sector. The growing demand for packaged food and beverages
in Asia Pacific is likely to be a major driver for the ethyl acetate market in
the region over the forecast period. Food flavoring is likely to emerge as a
crucial market in the Asia Pacific region over the forecast period due to the
growing disposable income of the consumers in the region and the consequent
rise in the demand for flavored food. The growing disposable income of
consumers in Asia Pacific is also likely to be reflected in the growing share
of the cosmetics industry in the growth of the ethyl acetate market in the
region over the forecast period.
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