Ethyl Acetate Market to Exhibit a CAGR of 7.3% from 2024 to 2032; Market Value to Rise Owing to the Growing Use of Printing Ink

The global ethyl acetate market size stood at USD 4.41 billion in 2023. The market value is slated to rise from USD 4.70 billion in 2024 to USD 8.26 billion by 2032 at a CAGR of 7.3% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Ethyl Acetate Market Size, Share & Industry Analysis, By Application (Paints & Coating Formulations, Adhesives and Sealants, Process Solvents, Printing Ink, Intermediates, and Others), By End-Use Industry (Construction, Packaging, Automotive, Pharmaceuticals, Industrial & Dry Cleaning, and Others), and Regional Forecast, 2024-2032”.

Ethyl acetate is a colorless liquid that is commonly utilized as a solvent in various industries, including pharmaceutical, cosmetics, and food & beverage. The utilization of the product as a solvent in the production of printing inks, adhesives, and coatings is proliferating the market growth.

The economic slowdown, along with lockdowns globally, led to a reduction in the demand for the chemical across different industries. In addition, the market observed an impact on the key product consumers for artificial leather, such as textile, construction, and automotive industries, which resulted in a decrease in demand. Thus, the COVID-19 pandemic significantly impacted the demand for the product.

Celanese Corporation Released ECO-B to Enhance its Position

In February 2023, Celanese Corporation announced the release of sustainable forms of multiple Acetyl Chain materials, ECO-B, that feature mass balance bio-content. These offerings enable the transition from fossil to renewable materials. Moreover, this move showcases the company’s commitment to sustainability in its efforts to deliver efficient and effective sustainable solutions to customers.

Surging Deployment of Printing Ink to Accelerate Market Growth

The printing ink industry is witnessing growth, especially in emerging nations, including Indonesia, China, and India. The development of this industry is driven by modern retail, change in lifestyles, and augmented expansion of the packaging industry. Moreover, the domestic printing industry in the Asia Pacific is witnessing expansion, which is slated to bolster the consumption of printing inks. Thus, these factors are propelling the ethyl acetate market growth.

Despite an expanding scope for the adoption of the product, the growing demand for water-based coatings & paints may impede the market expansion.

Major Players Focus on Capacity Expansions to Increase Their Production

Leading players in the ethyl acetate sector are deploying strategies such as the achievement of superior operational efficiency and the development of novel technology to grow. In addition, they are emphasizing expansion and acquisition activities to surge their market share. Top companies are also emphasizing capacity expansion strategies to maximize their production.

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List of Key Players Profiled:

• INEOS (U.K.)


• Celanese Corporation (U.S)


• Eastman Chemical (U.S)


• Jiangsu Sopo (China)


• Jiangmen Handsome (China)


• Wuxi Baichuan (China)


• Jubilant Life Sciences (India)


• Godavari Biorefineries Ltd. (India)


• Sekab (Sweden)


• KAI CO., LTD. (South Korea)


• IOL Chemicals and Pharmaceuticals (India)

Key Industry Development

• April 2022 – Godavari Biorefineries Ltd (GBL) unveiled the inauguration of its Sakarwadi-based manufacturing facility and the opening of a biochemical research lab. Moreover, bio-based chemicals for a diverse array of applications are produced by the plant and advanced research pertaining to biochemical is carried out by the research facility.

 Further Report Findings:

• Asia Pacific occupies the largest ethyl acetate market share and is presently observing a growth in product demand owing to the construction and automotive industries. China is a manufacturing hub for many industries which further contributes to the region’s growth.


• Europe is anticipated to grow in the coming years due to the extensive product usage in different industries, such as cosmetics, food & beverage, and pharmaceuticals.


• By end-use industry, the market is categorized into industrial & dry cleaning, packaging, construction, pharmaceuticals, automotive, and others. The construction segment registers the largest share in the ethyl acetate market. The ability of the product to enhance the flow attributes of materials, which leads to a smoother and more even finish, is augmenting the construction segment’s growth.

Table of Segmentation