The Asia Pacific Ethyl Acetate Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1,730.8 Kilo Tonnes, showcasing a growth of 6.1% (2019-2022).
Efforts to address NCDs often involve initiatives to promote healthier lifestyles, which can indirectly impact the demand for ethyl acetate. For example, campaigns to reduce tobacco use may lead to a decrease in the production of tobacco-related products, which can use this as a solvent. Similarly, initiatives to promote healthier diets may lead to changes in food production practices, potentially affecting the demand for this used in food processing.
the cosmetics and personal care industry is also a significant consumer of ethyl acetate. It is used in the production of various cosmetics and personal care products, including perfumes, nail polish removers, and hair sprays. The cosmetics industry is witnessing strong growth, driven by increasing disposable incomes, changing lifestyles, and a growing focus on personal grooming. This is expected to create lucrative opportunities for the market.
South Korea's cosmetics sector has experienced remarkable growth in recent years, emerging as a global leader in the beauty and skincare industry. The International Trade Administration reports that the value of cosmetics produced in South Korea peaked at $14.5 billion in 2021, with exports reaching a record $9.2 billion, an increase of 21.3 percent from the previous year. The cosmetics sector trade surplus of South Korea increased by 28.6 percent to $7.8 billion. Hence, all these factors will support the growth of the market throughout the forecast period.
The China market dominated the Asia Pacific Ethyl Acetate Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,050.2 million by 2030. The India market is registering a CAGR of 7.3% during (2023 - 2030). Additionally, The Japan market would showcase a CAGR of 6.5% during (2023 - 2030).
Free Valuable Insights: The Global Ethyl Acetate Market is Predict to reach $ 8.5 Billion by 2030, at a CAGR of 6.6%
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Application, the market is segmented into Paint & Coatings, Inks, Process Solvents, Pigments, and Others. Based on End-use, the market is segmented into Automotive, Artificial Leather, Food & Beverage, Pharmaceutical, and Packaging. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific.
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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