Ethyl acetate is utilised in the pharmaceutical industry as an extraction medium for the concentration and purification of antibiotics. In the synthesis of pharmaceuticals like sulphamethoxazole, rifampicin, etc., it is also employed as an intermediary. The bonding power and peeling resistance of solvent adhesives based on ethyl acetate are both higher. Due to the fact that paints and coatings serve two important economic tasks, namely protection and decoration, demand for this industry is rising significantly. The bulk of paints and coatings made worldwide are used to preserve, adorn, and maintain both new and old structures, including residences, apartments, public buildings, and plants and factories. Thus, it is predicted that rising paint and coating consumption will fuel the ethyl acetate industry. Due to the strong demand for ethyl acetate in sectors including pharmaceuticals, food & drinks, paints & coatings, and automotive, Asia Pacific maintained a leading position in the worldwide ethyl acetate market in 2020 with a volume share of 76.3%. Furthermore, this region's market is expanding due to better economic conditions, government initiatives, and an expanding population.
Coherent Market Insights estimates that by the end of 2028, the Ethyl Acetate Market is anticipated to generate more than $7.4 MMT, with a CAGR of 6.0% throughout the projected period (2021 to 2028).
Key Competitors in the Ethyl Acetate Industry:
1. Celanese Corporation
The business, which has its headquarters in Irving, Texas, was established in 1918. Engineering and producing a wide range of goods necessary for daily life is the business of Celanese, a multinational chemical and speciality materials firm. To advance sustained ocular drug delivery to the suprachoroidal space, Celanese and Johns Hopkins University announced a research partnership in February 2023. The Mobility & Materials Business was acquired by Celanese in November 2022.
2. Eastman Chemical
The company was established in 1920 and has its headquarters in Kingsport, Tennessee. In addition to producing and selling plastics, chemicals, and textiles, Eastman also offers speciality coatings, adhesives, and plastics goods. Eastman revealed plans to construct a methanolysis plant that will turn polyester waste into long-lasting products in January 2021. Adhesives Resins Company Product Lines will be sold by Eastman starting in October 2021.
3. Solutia
Town and Country, Missouri, in the United States, is home to the company's headquarters, which were established in 1997. Polyvinyl butyral, ethylene vinyl acetate, and thermoplastic polyurethane interlayers for laminated glass are among the products that Solutia Inc. manufactures.
4. INEOS Group Limited
The company was founded in 1998 and has its headquarters in London, England. Globally, the INEOS Group produces oil products, speciality chemicals, and petrochemicals. To purchase offshore wind energy from Engie's Northern wind project, Ineos signed a 10-year agreement in September 2020. Ineos stated in January 2021 that it will give Oxford University £100 million to establish a new centre for research on antibiotic resistance.
5. Rhodia Brasil
The business was founded in 1998 and has its headquarters in France. The production of synthetic organic fibres is one of the company's business activities. The business provided services to the consumer products, automotive, energy, manufacturing, processes, and electronics industries. In June 2020, RHODIA BRASIL released a thread that prevents the contamination of the new coral.
6. Showa Denko
The company has its headquarters in Tokyo, Japan, and was established in 1939. The company creates industrial materials and chemical goods. In June 2020, Hitachi Chemical changed its name to Showa Denko Materials. In December 2021, Showa Denko created HD Media for MAS-MAMR Technology. Beginning in October 2021, Showa Denko Materials will lead the "JOINT2" Collaboration for the Development of Next-Generation Semiconductor Packaging Technology.
7. Shanghai Wujing Chemical
The business was founded in 1958 and has its headquarters in Shanghai, China. Shanghai Wujing Chemical Co. Ltd. produces and sells chemical goods, specialising in the production of ethyl acetate, industrial glacial acetic acid, and related derivatives. The professional manufacture of numerous types of raw material preparation is the focus of Shanghai Wujing Chemical Co.,Ltd.
8. Sasol Limited
The business was established in 1950 and has its headquarters in Sandton, South Africa. In addition to producing various liquid fuels, chemicals, nuclear fuel, coal tar, and energy, Sasol also develops and commercialises technology, particularly technology related to synthetic fuels. In September 2022, Sasol announced arrangements with local miners to use green hydrogen.
Definition: The colourless liquid known as ethyl acetate smells like fruit. It is hardly soluble in water and soluble in the majority of organic solvents, including acetone, ether, and alcohol.
