Press release
Ethyl Acetate Market Propelled by Surging Usage of Synthetic Solvents
A white liquid with a distinctive sweet scent called ethyl acetate is an organic substance that is used in glues, nail polish removers, and as a solvent. The ester of acetic acid and ethanol is known as ethyl acetate.By 2030, the worldwide ethyl acetate market will touch USD 8,443.1 million value, as per P&S Intelligence. This is explained by the rise in the use of consumer items that employ solvents, such as nail polish removers, adhesives, and printing inks, as well as the expansion of global infrastructure projects.
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Additionally, the growing consumer awareness of environmentally friendly goods and escalating strict environmental laws aimed at lowering emissions of volatile organic compounds are fueling the need for environmentally friendly paints and coatings.
The category of pharmaceutical had the second-largest share, and it is also predicted to grow at a significant CAGR in the years to come. This is attributed to the expanding pharmaceutical business, high research and development expenditures, and the rising rate of pharmaceutical manufacturing where ethyl acetate is utilized as an extraction solvent.
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Additionally, it is predicted that the fake leather market would expand significantly over the next few years. Due to their low cost and effective endurance, artificial leather items are becoming more and more popular as a replacement for natural leather products.
The demand for artificial leather from automobile OEMs is also driving up the price of the chemical, which is used to make interior car parts including sun visors, knob covers, door trims, seat coverings, and steering wheel covers. This is fueling the overall growth of the ethyl acetate market.
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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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