Ethyl Acetate Market Size Worth $8.3 Billion By 2028 | CAGR: 8.8%: Grand View Research, Inc.

Read 85 page market research report, "Ethyl Acetate Market Size, Share & Trends Analysis Report By End Use (Food & Beverages, Pharmaceutical, Automotive, Artificial Leather, Packaging), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research Read 85 page market research report, " Ethyl Acetate Market Size, Share & Trends Analysis Report By End Use (Food & Beverages, Pharmaceutical, Automotive, Artificial Leather, Packaging), By Region, And Segment Forecasts, 2021 -...

Read 85 page market research report, "Ethyl Acetate Market Size, Share & Trends Analysis Report By End Use (Food & Beverages, Pharmaceutical, Automotive, Artificial Leather, Packaging), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Ethyl acetate solvents are witnessing an increase in demand across the world owing to their growing application scope in various key end-use industries such as fragrances, food, and beverages, automotive, Pharmaceuticals, and packaging. Further, it is used in coating formulations such as acrylics, urethanes, and epoxies. These coatings are applied on fixtures, wood furniture, and mining equipment. They are also used in construction, agriculture, marine, and auto refinishing applications. The consumption of the product in coatings and paints is expected to surge in the coming years owing to the flourishing construction industry.

It is majorly used as a flavor enhancer in different food and beverage products such as coffee, tea, and confectionery items. It has a sweet smell which is also used to add fruity flavors to gum, baked goods, candy, and others. In the pharmaceutical industry, solvent extraction finds many applications owing to its suitability for processing heat-sensitive products and inherent flexibility. As a result, considering environmental impact and human safety, the product is anticipated to witness high consumption for solvent extraction in the pharmaceutical industry.

The recent outbreak of COVID-19 has led to disruptions in the overall value chain of ethyl acetate worldwide. In 2020, the impact of COVID-19 on the ethanol industry was sharp and swift. Falling consumption and negative operating margins led to dramatic cut downs in ethanol production. This, in turn, affected the global demand of the industry in the year 2020. However, a complete recovery of the market is expected by the first quarter of 2022 with the stabilization of global economies of industrial sectors worldwide.

Grand View Research has segmented the global ethyl acetate market on the basis of end-use, and region:

List of Key Players of Ethyl Acetate Market

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