HYDERABAD, TELANGANA, INDIA, March 6, 2022 /EINPresswire.com/ — Ethyl Acetate Market Forecasts to 2028 – Global Analysis By Type (Coarse Ethyl Acetate (EA), Pure Ethyl Acetate (EA)), Application (Adhesives and Sealants, Flavor Enhancer), End User (Artificial Leather, Automotive) and By Geography
The Global Ethyl Acetate Market is accounted for $4.0 billion in 2021 and is expected to reach $9.64 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Ethyl acetate is a colorless, highly soluble substance used by all organic solvents such as glycols, ketones, alcohols, and esters. It is a liquid substance with physical property similar to aromatic odor, best identified for glues and the removal of nail paints. This product is often used as a solvent for cleaning, removing nail paints, and coating. Ethyl acetate, also known as ethyl ethanoate, is an organic ester compound with the chemical formula C4H8O2. Additionally, it is known as acetic ether or acetic ester. Ethyl acetate is generally used in the pharmaceutical industry due to its low purity, it is also used for purifying and concentrating antibiotics. In the pharmaceutical industry, solvent extraction finds numerous applications due to its suitability for processing heat-sensitive products and inherent flexibility. The Asia Pacific is projected to hold the highest market share, owing to the high demand for it in industries such as pharmaceuticals, food & beverages, paints & coatings, and automotive. North America is projected to have the highest CAGR due to the factors such as the rising automotive sector, economy, demand for foods and beverages, and pharmaceuticals owing to the rise in the industrialization and upsurge in demand for these solvents for making printing inks varnishes and protective coatings for applications in industries such as building & construction and automotive in the province.
Some of the key players profiled in the Ethyl Acetate Market include INEOS, Celanese Corporation, Daicel Corporation, Eastman Chemical Company, Jiangsu Sopo (Group) Co., Ltd., Jubilant Pharmova Limited, Sasol Limited, Showa Denko Kk, Sipchem, Solvay, and Yip’s Chemical Holdings Limited.
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