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World - Ethyl Acetate - Market Analysis, Forecast, Size, Trends And Insights
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The ethyl acetate market is expected to see growth in both consumption and production over the next eight years. Market performance is forecasted to accelerate, with China leading in both consumption and production. Despite fluctuations in import and export prices, the market is projected to have a positive trend in volume and value.
Market Forecast
Driven by increasing demand for ethyl acetate worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 4.6M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $5.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Ethyl Acetate
In 2022, consumption of ethyl acetate increased by 1.6% to 4.1M tons, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 4.3M tons in 2018; however, from 2019 to 2022, consumption failed to regain momentum.
The global ethyl acetate market size declined to $4.5B in 2022, shrinking by -5.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $4.8B, and then contracted in the following year.
Consumption By Country
China (1.1M tons) constituted the country with the largest volume of ethyl acetate consumption, accounting for 28% of total volume. Moreover, ethyl acetate consumption in China exceeded the figures recorded by the second-largest consumer, India (426K tons), threefold. The third position in this ranking was taken by the United States (392K tons), with a 9.6% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.3%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+3.9% per year) and the United States (-4.3% per year).
In value terms, China ($1.1B) led the market, alone. The second position in the ranking was taken by India ($441M). It was followed by the United States.
In China, the ethyl acetate market expanded at an average annual rate of +1.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+4.6% per year) and the United States (-5.1% per year).
The countries with the highest levels of ethyl acetate per capita consumption in 2022 were Malaysia (2.5 kg per person), Italy (1.9 kg per person) and the UK (1.8 kg per person).
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +11.2%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Ethyl Acetate
In 2022, the amount of ethyl acetate produced worldwide contracted to 3.9M tons, standing approx. at 2021 figures. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 5% against the previous year. Global production peaked at 4.3M tons in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.
In value terms, ethyl acetate production reduced to $4.1B in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by 33%. As a result, production reached the peak level of $4.6B, and then reduced in the following year.
Production By Country
China (1.6M tons) remains the largest ethyl acetate producing country worldwide, comprising approx. 40% of total volume. Moreover, ethyl acetate production in China exceeded the figures recorded by the second-largest producer, India (525K tons), threefold. The United States (368K tons) ranked third in terms of total production with a 9.4% share.
From 2012 to 2022, the average annual growth rate of volume in China amounted to +1.1%. The remaining producing countries recorded the following average annual rates of production growth: India (+1.8% per year) and the United States (-4.5% per year).
Imports
World Imports of Ethyl Acetate
In 2022, after two years of growth, there was significant decline in purchases abroad of ethyl acetate, when their volume decreased by -6.9% to 1.4M tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 12% against the previous year. As a result, imports reached the peak of 1.6M tons, and then shrank in the following year.
In value terms, ethyl acetate imports dropped modestly to $2B in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.6% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 69%. As a result, imports attained the peak of $2B, and then declined slightly in the following year.
Imports By Country
In 2022, Belgium (243K tons), distantly followed by Indonesia (110K tons), Italy (110K tons), Japan (103K tons), Malaysia (89K tons), Vietnam (74K tons) and Germany (71K tons) represented the major importers of ethyl acetate, together committing 55% of total imports. The following importers - Turkey (59K tons), Taiwan (Chinese) (54K tons), Thailand (52K tons), the United States (45K tons), Spain (41K tons) and France (39K tons) - together made up 20% of total imports.
Imports into Belgium increased at an average annual rate of +1.3% from 2012 to 2022. At the same time, Malaysia (+16.0%), Indonesia (+12.4%), Vietnam (+6.8%), Italy (+2.3%), Thailand (+1.6%) and Turkey (+1.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +16.0% from 2012-2022. Spain experienced a relatively flat trend pattern. By contrast, the United States (-1.2%), Germany (-1.4%), France (-1.6%), Taiwan (Chinese) (-2.1%) and Japan (-3.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Malaysia and Vietnam increased by +5, +4.6 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Belgium ($358M) constitutes the largest market for imported ethyl acetate worldwide, comprising 18% of global imports. The second position in the ranking was held by Italy ($170M), with an 8.7% share of global imports. It was followed by Indonesia, with a 6.8% share.
From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to +6.8%. In the other countries, the average annual rates were as follows: Italy (+5.5% per year) and Indonesia (+14.2% per year).
Import Prices By Country
In 2022, the average ethyl acetate import price amounted to $1,348 per ton, with an increase of 2.6% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethyl acetate import price increased by +55.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 51%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($1,826 per ton), while Malaysia ($515 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.4%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Ethyl Acetate
After two years of growth, overseas shipments of ethyl acetate decreased by -12.2% to 1.3M tons in 2022. Overall, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 15%. Over the period under review, the global exports attained the peak figure at 1.5M tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
In value terms, ethyl acetate exports fell to $1.6B in 2022. Over the period under review, exports, however, saw modest growth. The pace of growth was the most pronounced in 2021 with an increase of 73% against the previous year. As a result, the exports reached the peak of $1.9B, and then shrank in the following year.
Exports By Country
China represented the key exporting country with an export of around 436K tons, which finished at 34% of total exports. It was distantly followed by Belgium (183K tons), Singapore (118K tons), India (99K tons), the UK (90K tons) and Saudi Arabia (80K tons), together creating a 45% share of total exports. South Africa (45K tons), Brazil (44K tons), Turkey (30K tons), the Netherlands (30K tons), Mexico (27K tons) and the United States (21K tons) held a relatively small share of total exports.
China experienced a relatively flat trend pattern with regard to volume of exports of ethyl acetate. At the same time, Turkey (+20.5%), Singapore (+4.1%) and Saudi Arabia (+4.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.5% from 2012-2022. Brazil and Belgium experienced a relatively flat trend pattern. By contrast, the United States (-1.7%), the UK (-3.6%), India (-4.2%), the Netherlands (-5.0%), South Africa (-12.8%) and Mexico (-13.4%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+6.3 p.p.), China (+6.1 p.p.), Singapore (+3.9 p.p.) and Turkey (+2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the UK (-1.8 p.p.), India (-2.6 p.p.), Mexico (-5.6 p.p.) and South Africa (-8.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($458M), Belgium ($287M) and the UK ($133M) constituted the countries with the highest levels of exports in 2022, together accounting for 53% of global exports. Singapore, India, Saudi Arabia, South Africa, Brazil, the Netherlands, Turkey, Mexico and the United States lagged somewhat behind, together accounting for a further 40%.
Turkey, with a CAGR of +22.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average ethyl acetate export price stood at $1,297 per ton in 2022, shrinking by -1.8% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethyl acetate export price increased by +56.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 59%. As a result, the export price attained the peak level of $1,321 per ton, and then reduced modestly in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($1,718 per ton), while China ($1,051 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global ethyl acetate market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143215 - Ethyl acetate
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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