Increasing demand for ethyl acetate in the online retails especially in the emerging nations in R&D of ethyl acetate, are Drives Growth

NEW YORK CITY, NEW YORK, UNITED STATES, September 8, 2022 /EINPresswire.com/ -- The global ethyl acetate market is forecast to reach USD 5,849.7 Million by 2028, according to a new report by Reports and Data. Ethyl acetate is an organic compound with a colorless liquid formation and has a distinctive sweet and fruity smell. This compound is widely mixed as the solvent and diluent in the paints & coatings and adhesives & sealants for its comparatively low cost, low toxicity, and agreeable odor. It is commonly used in nail varnish removers and in the color and inks to mark fruit or vegetables. The global ethyl acetate market is growing at a substantial pace due to the growing demand for ethyl acetates in the food & beverages for its distinctive sweet flavor and in the adhesives & sealants as a comparatively low-cost solvent. The low toxic and biodegradable nature with a very high flash point characteristics of this organic compound makes it a highly demanding and largely accepted solvent in the paint & coatings and adhesives & sealant industries worldwide.

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Major companies Celanese Corporation, Eastman, Chemical Company, Jubilant Life Science Ltd., Jiangsu Sopo (Group) Co., Ltd., INEOS, PT. Indo Acidatama Tbk, Solvay S.A., Daicel Corporation, Sipchem, and Merck KGaA.

Further key findings from the report suggest

A massive quantity of ethyl acetate are required to use in the manufacturing of flexible packaging and the polyester, Biaxially Oriented Polypropylene (BOPP) films. The treatment of the aluminum films involves this organic compound as a solvent. Also, the high printing resolution provided by this compound on both the plastics and metal surfaces makes it highly favorable for the packaging industry. The packaging industry sub-segment in the end-use verticals is forecasted to gain a market valuation of USD 0.68 Billion by 2027.
APAC, owing to its impressive advancements in the consumer goods especially the foods & beverages and packaging industries in China, India, and Singapore, is expected to grow with the fastest CAGR of 6.3% throughout the forecast period and is expected to retain its superiority in the market by the end of 2027.
European region is forecasted to witness a significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 2.8% during the forecast period. Germany holds some of the most prominent players in this region.
North America, with its high demand in the automotive paints, is accounted to retain a significant position in the global market with a market share of about 26.8% by 2027, and the CAGR is calculated to be 5.2% during the forecast period.

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Segments covered in the report:

Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)

Online Retailing
Offline Retailing

Application Outlook (Revenue, USD Billion; 2018-2028)

Paints & Coatings
Adhesives & Sealant
Process Solvent
Activator & Hardener
Other Applications

End-Use Verticals Outlook (Revenue, USD Billion; 2018-2028)

Food & Beverages
Architectural
Packaging Industry
Automotive
Textile Industry
Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Aluminum Pigments Market: https://www.reportsanddata.com/report-detail/aluminum-pigments-market

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