Kings Research today announced the release of its latest study, “Global Ethyl Acetate Market: Size, Share, Trends & Forecast 2024–2031.” The report provides a deep analysis of how ethyl acetate — a vital solvent in food, pharmaceutical, and coatings industries — is poised for steady growth, powered by environmental regulations and innovations in bio-based production.
According to Kings Research proprietary analysis, the global ethyl acetate market was valued at USD 3.88 billion in 2023 and is expected to grow to USD 6.25 billion by 2031, reflecting a CAGR of 6.25% during the forecast period.
Ethyl acetate is a colorless, flammable liquid with a sweet, fruity odor, widely used as a solvent. It is created via esterification of ethanol and acetic acid. In recent years, bio-based production of ethyl acetate has gained traction due to environmental regulations and sustainability initiatives such as the EU’s Green Deal and the U.S. Department of Energy’s push for renewable chemicals.
Bio-based ethyl acetate reduces carbon emissions and aligns with the chemical industry’s sustainability targets. The bio-based EA industry is estimated at 165 million United States dollars (MUSD) and is projected to reach 430 MUSD by 2030 (Source: https://www.sciencedirect.com/).
Kings Research highlighted a few reasons behind this notable progress of the ethyl acetate market. Here are some of the major ones:
- Growing Food & Beverage Applications: Ethyl acetate is approved by the FDA as a solvent and flavoring agent in foods (Source: https://www.hfpappexternal.fda.gov/). Its use in fruit-flavored beverages and confectionery is expanding due to rising demand for natural flavors and clean-label products.
- Pharmaceutical Sector Demand: Ethyl acetate is used as a solvent in active pharmaceutical ingredients (APIs). The U.S. National Institutes of Health (NIH) notes that solvent safety, biodegradability, and volatility are critical factors in pharmaceutical manufacturing. This has driven manufacturers to prefer ethyl acetate for environmentally safe formulations.
- Coatings & Paints: Regulatory restrictions on volatile organic compounds (VOCs) in coatings have made ethyl acetate a preferred solvent. The European Commission’s updated VOC guidelines have accelerated adoption in coatings and adhesives, especially in the EU market.
- Sustainability & Green Chemistry Push: Bio-based ethyl acetate production is part of a global shift towards green chemistry, supported by government initiatives such as the EU’s Horizon 2020 and the U.S. DOE’s Bioenergy Technologies Office.
For executives in the food & beverage, pharmaceuticals, and coatings sectors, ethyl acetate offers:
- Regulatory Alignment: Meets stringent food safety and environmental regulations.
- Sustainability: Bio-based production aligns with ESG goals.
- Product Quality: Excellent solvency ensures superior formulation performance.
- Operational Efficiency: Lower toxicity and easy evaporation reduce manufacturing costs.
Regional Outlook
- Asia-Pacific: The largest market. It dominates supply chains due to strong chemical manufacturing bases in China, India, and Japan.
- Europe: Emerging as the fastest-growing market. Expansion is driven by strict VOC regulations and sustainability mandates.
Competitive Landscape
The global ethyl acetate market is highly fragmented. It covers established players as well as new entrants. Prominent players influencing the market include NEOS Group Holdings S.A., Celanese Corporation, Eastman Chemical Company, Solvay S.A., Sasol Limited, Jubilant Life Sciences Ltd., Shandong Jinyimeng Group Co., Ltd., Showa Denko K.K., Wacker Chemie AG, and Daicel Corporation. These players are investing heavily in bio-based production, capacity expansion, and sustainable sourcing.
The full Kings Research report offers detailed segmentation by application, end-use industry, distribution channel, and geography. To access the full report and request a sample, visit https://www.kingsresearch.com/ethyl-acetate-market-577.
About Kings Research
Kings Research is a global provider of syndicated research reports and consulting services, helping businesses navigate emerging markets, evaluate opportunities, and make informed decisions.
All market data are sourced from Kings Research proprietary analysis, validated against public releases and credible industry sources. Examples cited include the U.S. Food and Drug Administration (fda.gov), U.S. Department of Energy (energy.gov), ScienceDirect (sciencedirect.com), U.S. Department of Agriculture (ers.usda.gov), U.S. Environmental Protection Agency (epa.gov), European Commission Horizon (ec.europa.eu), and United Nations Comtrade (comtrade.un.org).