ETHYL ACETATE MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Another key end-use sector augmenting the global ethyl acetate market growth is pharmaceuticals. Ethyl acetate finds wide application as an important excipient and solvent in manufacturing of various pharmaceutical drugs and medicines. It is primarily used as an extraction solvent in pharmaceutical manufacturing processes, owing to its low toxicity. It helps in improving the bioavailability of active pharmaceutical ingredients (APIs). With rising prevalence of chronic diseases and increasing healthcare expenditure worldwide, the pharmaceutical industry has been witnessing sizeable growth over the past few decades. Many nations are dedicating higher budgets to improve access to healthcare while countries like India, China and Brazil are emerging as global pharmaceutical hubs. This expansion of the pharmaceutical industry has positively impacted the consumption of ethyl acetate. Furthermore, short product lifecycles in pharmaceuticals has led to growing demand for new drug formulation development which involves ethyl acetate as a major solvent, thus, driving the market growth, therefore growing pharmaceutical sector is expected to drive the market growth, For instance, according to data by Incest India in 2022, The pharmaceutical industry in India is expected to reach USD 65 Bn by 2024 and to USD 130 Bn by 2030.