The India Ethyl Acetate Market report provides an analysis of the market in India. Here are the key highlights from the report:
Market Overview:
- The India Ethyl Acetate Market was valued at US$ 645.44 million in 2021.
- It is expected to reach US$ 1200.88 million by 2029.
- The market is projected to grow at a CAGR of 8.07% during the forecast period.
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Market Dynamics:
- Ethyl acetate is an ester synthesized from the esterification of ethanol and acetic acid in the presence of a strong acid.
- It has various applications, including as a solvent for varnishes, finishes, cleaning, nitrocellulose, nail polish remover, and cleaning electric circuit boards.
- Ethyl acetate is employed in coating formulations for wood furniture, manufacturing of instruments, mining equipment, agricultural machinery, and marine equipment.
- The Indian petrochemical industry’s share in global production is increasing, leading to growth in the demand for ethyl acetate.
- The primary drivers of the ethyl acetate market in India include growth in packaging, infrastructure, agriculture, healthcare, and consumer sectors.
- Ethyl acetate is widely used in flexible packaging, especially in the e-commerce and e-retail sectors.
Segment Analysis:
- The market segments include end-user industries such as food and beverage, pharmaceuticals, printing inks, artificial leather, packaging, and others.
- The food and beverage segment holds a significant share due to the use of ethyl acetate as a flavor enhancer and in flexible packaging.
- The application segments include printing inks, adhesives, cosmetics, paints and coatings, pharmaceuticals, food and beverages, herbicides, and others.
- The paints and coatings segment is prominent due to the low toxicity and odorless properties of ethyl acetate.
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Key Players
• Celanese Corporation
• Eastman Chemical Company
• INEOS
• Jubilant Life Sciences
• Lonza
• Sekab Biofuels & Chemicals AB
• PT. Indo Acidatama Tbk
• Solvay
• Merck KGaA
• Shandong Jinyimeng Group Co. Ltd.
• DAICEL CORPORATION
• KAI CO., LTD.
• Sipchem
• SHOWA DENKO K.K.
• Jiangsu SOPO (Group) Co., Ltd.
• Ashok Alco – chem Limited
• Solventis Ltd.
• Kanoria Chemicals & Industries Limited
• Yip’s Chemical Holdings Limited
• GODAVARI BIOREFINERIES LTD.
• Sasol Ltd.
• Eastman Chemical Co.
• Sigma-Aldrich Corp.
• Jubilant Life Science Ltd.
• Jinyimeng Group Co. Ltd.
• Wood and Chemicals
• Nippon
• Lee Chang Yung
• Shanghai Wujing
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Regional Analysis:
- The report divides the Indian market into North India, South India, East India, and West India.
- West India stands out as it has low production costs of ethyl acetate, significant exports, and demand from industries such as food and beverage, furniture, and automotive.
- North India and East India also have a substantial share of the market and are expected to grow steadily.
Key Players:
- Key players in the India Ethyl Acetate Market include Celanese Corporation, Eastman Chemical Company, INEOS, Jubilant Life Sciences, Lonza, and others.
Competitive Landscape:
- The report provides insights into the key players’ strategies, expansion plans, R&D activities, and inorganic growth through M&A.
This report serves as a comprehensive guide for investors and decision-makers looking to understand the dynamics and potential of the India Ethyl Acetate Market. It includes market trends, growth factors, and a competitive analysis of key players in the industry.
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