LONDON--(BUSINESS WIRE)--The ethyl acetate market is expected to grow by 685.92 thousand tons during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Ethyl acetate is one of the major food processing ingredients used in the food and beverage industry. It is used as an artificial flavoring ingredient in artificial fruit essences, candies, baked foods, gums, ice creams, and confectionery. Ethyl acetate is also used as a flavoring agent in both alcoholic and non-alcoholic beverages. It is used to produce alcoholic beverages such as vodka and gin. Similarly, in non-alcoholic beverages, ethyl acetate is used to extract and concentrate flavors and aromas. Thus, the rising demand for ethyl acetate from food processing industry will drive the growth of the market during the forecast period.
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As per Technavio, the increasing demand for green ethyl acetate will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Ethyl Acetate Market : Increasing Demand For Green Ethyl Acetate
In recent years, the global market has witnessed an increased demand for green solvents, which are derived from natural or renewable resources. The high demand for these solvents stems from customers focusing on naturally-derived products with minimal impact on the environment. Furthermore, the growing number of initiatives from federal and state governments to limit or reduce environmental emissions and their health hazards are also boosting the demand for green solvents, such as ethyl acetate. SEKAB and GreenYUG LLC are some of the vendors that offer green ethyl acetate made from biologically produced ethanol. Thus, the growing demand for green ethyl acetate will drive the growth of the market.
“Supporting government policies regarding biodiesel and the increasing use of ethyl acetate in electronics industry will have a significant impact on the ethyl acetate market growth during the forecast period,” says a senior analyst at Technavio.
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Ethyl Acetate Market: Segmentation Analysis
This market research report segments the ethyl acetate market by application (coatings, personal care, F&B, pharmaceuticals and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the ethyl acetate market in 2019, followed by Europe, North America, MEA and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as rising demand for processed foods, increasing use of food flavors as an active ingredient in snacks and other edible items, rising beer consumption and increasing number of construction projects.
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Some of the key topics covered in the report include:
- Personal care
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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