Global Bio-based Ethyl Acetate Market Size By End-User Industry, By Source, By Application, By Geographic Scope And Forecast

Report ID: 377877|No. of Pages: 202

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Global Bio-based Ethyl Acetate Market Size By End-User Industry, By Source, By Application, By Geographic Scope And Forecast

Report ID: 377877|Published Date: Jan 2024|No. of Pages: 202|Base Year for Estimate: 2023|Format:   Report available in PDF formatReport available in Excel Format

Bio-based Ethyl Acetate Market Size And Forecast

Bio-based Ethyl Acetate Market size was valued at USD 165.7 Million in 2023 and is projected to reach USD 431.11 Million by 2030, growing at a CAGR of 13.4 % during the forecast period 2024-2030.

Bio-based Ethyl Acetate Market is estimated to grow at a CAGR of 13.4 % & reach US$ 431.11 Mn by the end of 2030

Global Bio-based Ethyl Acetate Market Drivers

The market drivers for the Bio-based Ethyl Acetate Market can be influenced by various factors. These may include:

  • Environmental worries: The demand for bio-based substitutes like ethyl acetate made from renewable resources is driven by growing awareness of and worries about the environmental effects of petrochemical-based products.
  • Regulatory Support: The use of bio-based ethyl acetate is encouraged by laws and policies that support environmentally beneficial and sustainable products.
  • Customer Demand: As consumers’ preferences for sustainable and environmentally friendly products grow, producers across a range of industries are being influenced to switch to bio-based substitutes.
  • Cost Competitiveness: By lowering manufacturing costs, economies of scale and advancements in production methods are making bio-based ethyl acetate more competitive than its petrochemical competitors.
  • Supply Chain Resilience: By reducing reliance on fossil fuels and increasing supply chain resilience, diversification of raw material sources improves supply chain resilience, which is important during disruptions.
  • Corporate Sustainability Initiatives: As part of their commitment to lowering carbon footprints, many businesses are incorporating sustainability objectives into their corporate plans and prioritizing bio-based ethyl acetate.
  • Technological Developments: The efficiency and viability of manufacturing ethyl acetate from renewable sources are improved by ongoing research and technological developments in bio-based production techniques.

Global Bio-based Ethyl Acetate Market Restraints

Several factors can act as restraints or challenges for the Bio-based Ethyl Acetate Market. These may include:

  • Cost Challenges: Although bio-based ethyl acetate is becoming more widely used, its manufacturing costs may still be greater than those of its petrochemical counterpart. This is particularly true in areas where prices are highly sensitive.
  • Supply Chain Restrictions: Reliance on agricultural feedstock for the manufacturing of bio-based ethyl acetate may result in supply chain restrictions because of regional, seasonal, and crop output changes.
  • Technological Restrictions: Large-scale production and cost-effectiveness may be hampered by the scalability, efficiency, or yield constraints of the bio-based ethyl acetate production technologies currently in use.
  • Competitive Petrochemical Industry: Market penetration for bio-based alternatives may be hampered by well-established petrochemical ethyl acetate producers with established infrastructures and economies of scale.
  • Quality and Performance Issues: Compared to its petrochemical counterpart, bio-based ethyl acetate may have difficulties fulfilling certain quality and performance requirements, which could hinder its acceptability in some industries.
  • Regulatory Obstacles: Tight rules or a lack of particular requirements for bio-based chemicals may obstruct their introduction into the market or affect their acceptance.
  • Investment and Funding: Insufficient funds for R&D to enhance infrastructure and production processes for bio-based ethyl acetate could impede the industry’s expansion and technological breakthroughs.
  • Customer Perception and Knowledge: Customers’ perceptions and knowledge about bio-based products may still be restricted, which affects their willingness to pay more for alternatives that are more environmentally friendly.

Global Bio-based Ethyl Acetate Market Segmentation Analysis

The Global Bio-based Ethyl Acetate Market is Segmented on the basis of By End-User Industry, Source,  Application, Geography

Global Bio-based Ethyl Acetate Market Segmentation Analysis

Bio-based Ethyl Acetate Market, By End-User Industry

  • Chemical Industry: Including uses in manufacturing and chemical processes.
  • Paints & Coatings Industry: Ethyl acetate is used as a solvent in the paint and coatings business.
  • Pharmaceutical and Healthcare Industry: This is Used as a solvent in medication formulation Applications.

Bio-based Ethyl Acetate Market, By Source

  • Ethyl acetate is produced from the biomass of sugar cane.
  • Corn: Made from biomass derived from corn.
  • Other Sources of Biomass: using different biomass sources, such as lignocellulosic materials or agricultural waste, to produce ethyl acetate.

Bio-based Ethyl Acetate Market, By Application

  • Paints & Coatings: Paints, coatings, and varnishes all use ethyl acetate as a solvent.
  • Adhesives & Sealants: It is used as a solvent in the manufacture of sealants and adhesives.
  • Printing Inks: A variety of printing applications use inks made from ethyl acetate.

Bio-based Ethyl Acetate Market, By Geography

  • North America: The chemical, pharmaceutical, and coatings sectors are heavily represented in the United States and Canada. Stricter environmental restrictions and rising demand for eco-friendly products are driving the growth of the market.
  • Union of European Union in Europe Nations: This area is renowned for its strict environmental laws and commitment to sustainability. Because of increased public and governmental support for renewable resources, nations like Germany, France, and the UK are important markets for bio-based chemicals, including ethyl acetate.
  • China, India, Japan, and Southeast Asia make up Asia-Pacific. Nations: Growing population, environmental consciousness, and rapid industrialization are driving demand for bio-based ethyl acetate. These nations’ chemical, coatings, and pharmaceutical sectors are major ethyl acetate consumers.

Key Players

The major players in the Bio-based Ethyl Acetate Market are:

  • Solvay
  • Eastman Chemical Company
  • INEOS
  • Godavari Biorefineries Ltd.
  • Showa Denko
  • Jiangsu Sopo (Group) Co., Ltd.
  • Sekab Biofuels & Chemicals AB
  • Wacker Chemie AG
  • Yancheng Hongtai Bioengineering Co., Ltd.
  • Daicel Corporation

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

Solvay, Eastman Chemical Company, INEOS, Godavari Biorefineries Ltd., Showa Denko, Jiangsu Sopo (Group) Co., Ltd., Sekab Biofuels & Chemicals AB, Wacker Chemie AG, Yancheng Hongtai Bioengineering Co., Ltd., Daicel Corporation.

SEGMENTS COVERED

By End-User Industry, By Source, By Application, By Geography

CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

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Research Methodology of Verified Market Research:

Research Methodology of VMR

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Customization of the Report

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Frequently Asked Questions

Bio-based Ethyl Acetate Market was valued at USD 165.7 Million in 2023 and is projected to reach USD 431.11 Million by 2030, growing at a CAGR of 13.4 % during the forecast period 2024-2030.

Bio-based Ethyl Acetate Market fueled by sustainability goals, eco-friendly trends, stringent regulations, and growing demand for renewable, biodegradable solvents in various industries.

The major players in the Global Bio-based Ethyl Acetate Market are  Solvay, Eastman Chemical Company, INEOS, Godavari Biorefineries Ltd., and Showa Denko.

The Global Bio-based Ethyl Acetate Market is Segmented on End-User Industry, Source Application, and Geography.

The sample report for the Bio-based Ethyl Acetate Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.

1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights

3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis

4. Bio-based Ethyl Acetate Market, By End-User Industry
• Chemical Industry
• Paints & Coatings Industry
• Pharmaceutical & Healthcare Industry

5. Bio-based Ethyl Acetate Market, By Source
• Sugar Cane
• Corn
• Other Biomass Sources

6. Bio-based Ethyl Acetate Market, By Application
• Paints & Coatings
• Adhesives & Sealants
• Printing Inks

7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape
• Key Players
• Market Share Analysis

10. Company Profiles
• Solvay
• Eastman Chemical Company
• INEOS
• Godavari Biorefineries Ltd.
• Showa Denko
• Jiangsu Sopo (Group) Co., Ltd.
• Sekab Biofuels & Chemicals AB
• Wacker Chemie AG
• Yancheng Hongtai Bioengineering Co., Ltd.
• Daicel Corporation

11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix
• Glossary of Terms
• List of Abbreviations
• Research Sources and Methodology

Report Research Methodology

Research methodology

Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.

This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.

We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:

Exploratory data mining

Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.

All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.

expert data mining

For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.

Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.

Data Collection Matrix

PerspectivePrimary ResearchSecondary Research
Supplier side
  • Fabricators
  • Technology purveyors and wholesalers
  • Competitor company’s business reports and newsletters
  • Government publications and websites
  • Independent investigations
  • Economic and demographic specifics
Demand side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customer

Econometrics and data visualization model

data visualiztion model

Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.

All the research models are customized to the prerequisites shared by the global clients.

The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.

Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.

Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.

Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:

  • Market drivers and restraints, along with their current and expected impact
  • Raw material scenario and supply v/s price trends
  • Regulatory scenario and expected developments
  • Current capacity and expected capacity additions up to 2027

We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.

Primary validation

The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.

The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.

primary validation

Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:

  • Established market players
  • Raw data suppliers
  • Network participants such as distributors
  • End consumers

The aims of doing primary research are:

  • Verifying the collected data in terms of accuracy and reliability.
  • To understand the ongoing market trends and to foresee the future market growth patterns.

Industry Analysis Matrix

Qualitative analysisQuantitative analysis
  • Global industry landscape and trends
  • Market momentum and key issues
  • Technology landscape
  • Market’s emerging opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2027
  • Market revenue estimates and forecasts up to 2027, by technology
  • Market revenue estimates and forecasts up to 2027, by application
  • Market revenue estimates and forecasts up to 2027, by type
  • Market revenue estimates and forecasts up to 2027, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Bio-based Ethyl Acetate Market

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