According to a new report, published by KBV research, The Global Ethyl Acetate Market size is expected to reach $8.5 billion by 2030, rising at a market growth of 6.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,369.2 Kilo Tonnes, experiencing a growth of 5.8% (2019-2022).
The Online segment would exhibit a CAGR of 8.7% during (2023 - 2030). Online distribution channels offer convenience, allowing customers to browse and purchase ethyl acetate from the comfort of their homes or offices at any time of the day or night. These channels provide access to a wide selection of ethyl acetate products from various manufacturers and suppliers, allowing customers to compare prices, specifications, and reviews before making a purchase. Online channels offer fast and efficient ordering processes, with products delivered directly to the customer's doorstep, saving time and effort.
The Paint & Coatings segment is generating highest revenue in the Global Ethyl Acetate Market by Application in 2022; thereby, achieving a market value of $4.9 billion by 2030. Ethyl acetate is compatible with a wide range of resins and polymers used in paint and coatings formulations, making it a versatile solvent. This versatility allows for the formulation of paints with different properties, such as gloss, durability, and flexibility, to meet diverse application needs. As urbanization and infrastructure development continue worldwide, the demand for paints and coatings is expected to rise, boosting the demand for ethyl acetate.
The Food & Beverage segment is experiencing a CAGR of 8% during (2023 - 2030). Ethyl acetate is commonly used as a solvent in the extraction of flavors and fragrances from natural sources such as fruits, flowers, and spices. It is particularly effective in extracting delicate and volatile compounds, helping preserve the final product's aroma and flavor. Ethyl acetate is generally recognized as safe (GRAS) by regulatory authorities such as the FDA, making it a preferred solvent for food and beverage applications.
Full Report: https://www.kbvresearch.com/ethyl-acetate-market/
The Asia Pacific region dominated the Global Ethyl Acetate Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.2 billion by 2030. The Europe region is anticipated to grow at a CAGR of 6% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 6.3% during (2023 - 2030).
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 Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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