Ethyl acetate is a colorless organic compound that has a sweet odor. It is produced by the reaction of ethanol and acetic acid which is also known as the Fischer esterification process. Ethyl Acetate is used in a wide range of applications such as solvent in inks, paints and coatings additives, oil-based enamels, adhesives, Pigments, food and beverages, automobiles, packaging, and intermediates. The major demand driver for ethyl acetate is the paints and coatings industry in Asia and the food & beverage industry in North America and Western Europe.
The production capacity of Ethyl Acetate in 2021 was 5910 thousand tons. China leads in the Ethyl Acetate production capacity with 3820 thousand tons followed by India with 582 thousand tons overall capacity. China is the largest exporter of ethyl acetate with average net exports of 434 thousand tons from 2016 to 2021.
The ethyl acetate market is dependent on the acetic acid supply. Asia is the largest consumer of ethyl acetate, especially China, while other regions like North America and Western Europe show moderate demand growth. Various innovations in the pharmaceutical sector will lead to substantial growth in ethyl acetate consumption.
Ethyl acetate is primarily used to produce a wide range of coating compositions which are used for various things, such as car refinishing, ceramics decoration, interior and exterior of architectural coatings, varnishes, and shellacs for wood furniture and fittings. In adhesives, spread-coating compounds for faux leather, and cleansers, it is also used as a paint thinner.
Ethyl acetate is an extensively used solvent, mainly for paints, lacquers, varnishes, and perfumes. The paints and coatings application industry accounts for the largest share of the ethyl acetate market. Ethyl acetate is used in paints as an activator. It is also used as an industrial solvent to dissolve materials and in coatings, rayon, and adhesives. It is widely used in the production of varnishes, lacquers, and thinners.
The pharmaceutical industry is a large segment of the ethyl acetate market. Ethyl acetate is widely used in the pharmaceutical industry for purifying and concentrating antibiotics.
In the automotive industry, it is used for refurbishing and repairing transportation vehicles. The increase in the demand for used and refurbished vehicles and the constant adoption of new technologies are some of the key factors responsible for increasing the demand in the automotive market which boosts the ethyl acrylate market.
Ethyl acetate is used as a solvent in the leather manufacturing process. The global market for artificial leather is expected to boost in the forecast years owing to the rising demand for cruelty-free products. In India, the demand for artificial leather is increasing in the automotive industry because of its heat-resistant properties, and elasticity. It is being used for sun visors, buses, door trims, roof lining, and other cars, and trucks.
Ethyl Acetate finds a wide range of applications such as solvent in inks, paints and coatings additives, oil-based enamels, adhesives, Pigments, food and beverages, automobiles, packaging, and intermediates. The major demand driver for ethyl acetate is the paints and coatings industry in Asia and the food & beverage industry in North America and Western Europe.
The ethyl acetate market depends on acetic acid supply and demand to some extent. Asia is the largest consumer of ethyl acetate, especially Northeast Asia (China), while developed countries like North America and Western Europe show moderate demand growth. Various innovations in the pharmaceutical sector will lead to substantial growth in ethyl acetate consumption.
The overall growth for demand and supply for Ethyl Acetate is estimated to be 3-4% during 2018-2025.
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