Ethyl Acetate Pricing Report

Ethyl Acetate Prices December 2023

The price of ethyl acetate in the United States for Q4 2023 reached 1734 USD/MT in December. The market in the United States witnessed lower demand from the international market, and the natural gas prices were rangebound. However, the market was bullish due to robust demand from downstream industries, particularly the construction sector.

The price of ethyl acetate in Japan for Q4 2023 reached 1013 USD/MT in December. The market in Japan was stable as there was no major supply chain disruption, and the inventories were flowing without any hindrances.

The price of ethyl acetate in Belgium for Q4 2023 reached 1037 USD/MT in December. Belgium witnesses an increase in ethyl acetate prices with a trend of stability and no significant seasonality or correlation.

Ethyl Acetate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Ethyl Acetate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of ethyl acetate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing ethyl acetate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Ethyl Acetate Market Analysis

The global ethyl acetate market size reached US$ 5.8 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 10.3 Billion, at a projected CAGR of 6.50% during 2023-2032.

• The extensive use of ethyl acetate as a flavor enhancer in the food and beverage industry represents one of the key factors influencing the growth of the market across the globe. The application of ethyl acetate introducing flavors for dairy, confectionery, and bakery products is driving the market growth. For instance, in January 2024, IFF, a global leader in food and beverage, home and personal care, and health and Wellness is stepping up its game in the world of plant-based meat alternatives. The company has invested in high moisture extrusion (HME) technology from Coperion, a global leader in extrusion technology.
• The increasing popularity of ethyl acetate as a key solvent in the production of coatings, paints, and inks is acting as a major growth-inducing factor in the market. The rising construction activities, coupled with the expanding automotive industry, where coatings and paints are in high demand, are propelling the market growth. For instance, In September 2023, PPG announced the completion of the expansion of its powder coatings plant in Sumare, Brazil. The $2.7 million (13 million Brazilian reals) project increased the production capacity of the facility by 40%.
• Strict environmental regulations pushing for the use of greener and safer chemicals are leading to a preference for ethyl acetate which is aiding the market growth. This is primarily due to ethyl acetate being considered as a less toxic alternative to other solvents employed in industrial applications which is driving its demand.
• The expanding pharmaceutical industry, along with the increasing demand for ethyl acetate in the pharmaceutical industry as a solvent in the production and purification of drugs are contributing to the growth of the market. According to the National Center of Biotechnology Information, the consumption of over-the-counter drugs is high (78.9%), with higher consumption in subjects aged ≤ 25 years (85.5%), students (85.7%), and those with postgraduate degrees (86.7%). Of these medicines, analgesics are the most consumed medicines (49.1%).
• The rising innovations in the production process of ethyl acetate, aimed at reducing costs and improving yields, are making it more accessible and economically viable for a broader range of applications which is further facilitating the growth of the market.

Ethyl Acetate News

The report covers the latest developments, updates, and trends impacting the global ethyl acetate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in ethyl acetate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the ethyl acetate industry:

• In March 2024, Eastman, a global specialty materials company, announced the commencement of operations at its new molecular recycling facility located in Kingsport, Tennessee. The plant has achieved on-spec initial production and has started generating revenue.
• In December 2023, Jiangsu SOPO Chemical announced that it plans to invest in a vinyl acetate and EVA integrated project in the Zhenjiang New District New Materials Park with its wholly owned subsidiary SOPO Chemical New Materials as the main body. The total investment of the project is approximately 7.128 billion yuan, which will be divided into two parts. The first phase is a 3,30,000 tons/year vinyl acetate project, and the second phase is a 3,00,000 tons/year EVA project.

Product Description

Ethyl acetate refers to an organic compound highly known for its role in several industrial and laboratory applications. It is also chemically known as an ester, which is formed from the reaction between ethanol and acetic acid, a process known as esterification.

Ethyl acetate is a colourless liquid characterized by its distinctive, sweet smell, often likened to peers with its chemical formula of C4H8O2. It finds extensive use in the food and beverage industry as a flavoring agent due to its pleasant aroma.

Ethyl acetate is also highly valued in the manufacturing sector. It is used as a solvent in the production of coatings, paint, inks, and adhesives due to its excellent solvency properties and fast evaporation rate.

Ethyl acetate is also employed in the pharmaceutical industry for the purification and extraction of antibiotics and other medications. Its versatility, along with its relatively low toxicity as compared to other solvents, makes ethyl acetate a compound of significant industrial importance.

Regional Coverage

The report provides a detailed analysis of the ethyl acetate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.  

Global Ethyl Acetate Price

The report offers a holistic view of the global ethyl acetate pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Ethyl Acetate Price

The European region in the ethyl acetate market remained stable with suppressed demand in high inventories, leading to lower prices for the product. This is primarily driven by heavy destocking market activity, high levels of inventories, rising production costs due to the increasing natural gas and coal gas prices, and lower demand from the international market. Moreover, the construction industry, a major consumer of ethyl acetate, experienced a significant decline in demand owing to negative market sentiments and high inventories, leading to lower prices for the product.

This analysis can be extended to include detailed ethyl acetate price information for a comprehensive list of countries.

North America Ethyl Acetate Price

In North America, the ethyl acetate market has witnessed moderate supply and a high level of inventories in the region. The prices were influenced by the rising prices of feedstock acetic acid and low demand from downstream industries such as construction. The high-interest rate continued to constrain the purchasing power of these industries, leading to a decline in demand. The shutdown of any plant was not reported during this.

Specific data on ethyl acetate prices within the United States and Canada can also be provided.

Middle East and Africa Ethyl Acetate Price

The report explores the ethyl acetate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on ethyl acetate prices for countries can also be provided.

Aisa Pacific Ethyl Acetate Price

The ethyl acetate pricing in the Asia Pacific region witnessed a decline and the market remained stable owing to heavy destocking activities comma declining demands from the construction industry and high inventory levels. There were no plant shutdowns that affected the market during this quarter. Moreover, Japan remains stable with no major supply chain disruptions, and prices of ethyl acetate remained consistent throughout the quarter.

This analysis can be further extended to include detailed ethyl acetate prices for a comprehensive list of countries within the region.

Latin America Ethyl Acetate Price

The analysis of ethyl acetate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of ethyl acetate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting ethyl acetate price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the ethyl acetate industry.