The global Acetic Acid Esters market is predicted to reach a valuation of US$ 13.9 Bn by 2032, with the market expanding at a sluggish CAGR of 3.9% from 2022 to 2032. Valued at US$ 8.9 Bn in 2021, the target market scaled up to US$ 9.4 Bn in 2022. Owing to their ability to add a pleasant flavor and aroma to food, beverages, and other items, Acetic Acid Esters are in high demand in food & beverages, and personal care industries. This aspect serves as a growth driver for the Acetic Acid Esters market during the forecast period.
Also known as vinegar esters, Acetic Acid Esters are a category of organic compounds that emanate from acetic acid and alcohol. Acetic Acid Esters are created when acetic acid reacts with an alcohol in the presence of a catalyst. The most commonly found acetic acid ester is ethyl acetate. Ethyl acetate is produced by the reaction of ethanol and acetic acid. Butyl acetate, amyl acetate, and propyl acetate are some of the other important Acetic Acid Esters.
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In the past few years, the Acetic Acid Esters market has witnessed considerable growth and is expected to undergo steady growth during the projected period. With uncertainty marring the future of the market, due to fluctuating demand for Acetic Acid Esters, the target market will also experience a sluggish growth rate over the next few years. There are, however, numerous factors that will aid the future demand for Acetic Acid Esters.
The anticipated growth in the global economy will likely increase the demand for chemicals and materials used in manufacturing processes. This contains Acetic Acid Esters, which find application as solvents and catalysts in multiple industrial verticals. Again, the elevated demand from end-use industries like food & beverages, pharmaceuticals, and chemicals will aid the target market growth during the forecast period.
“Large-scale usage in the food & beverages industry coupled with increasing usage of ethyl acetate in the printing and coating sector will supplement the global growth of the Acetic Acid Esters market over the forecast period,” says an FMI analyst.
Key Takeaways:
- High costs of raw materials and strict environmental regulations may limit the market growth.
- The Acetic Acid Esters market in the U.S. accounts for 34.5% of the global market share with a value of US$ 3.3 Bn.
- India’s Acetic Acid Esters market will grow at a CAGR of 3.7% during 2022-2032.
- The Acetic Acid Esters market in China will record a 5.5% CAGR during the forecast period.
- By application, the food & beverages and printing & coating industry will generate considerable demand for the target product.
- On the basis of function, the emulsifier and mousse enhancer segment will gain traction during the assessment period.
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Competitive Landscape
Henan Honest Food Co., Ltd., Hangzhou Funchun Food Additive Co., Ltd., Shanghai Richem International Co., Ltd., Anhui Herman Impex Co., Ltd.
Yantai Lushun Huitong Biotechnology Co., Ltd., RZBC GROUP and Pfizer Inc., Weifang Ensign Industry Co., Ltd., RIKEN VITAMIN Co., Ltd., Guenghou Cardio Biotechnology Co., Ltd., Jiaxing Range Import and Export Co., Ltd., Wuhan Haide Trading Co., Ltd., COFCO Biochemical (Anhui) Co. Ltd, Archer Daniels Midland Company, and Shandong Juxian Hongde Citric Acid Co. Ltd., among others are some of the major players in the Acetic Acid Esters market profiled in the full version of the report.
In a highly competitive market, leading market players are focusing on product innovation and increasing their production capacities. These firms are adopting strategies like mergers, and acquisitions to strengthen their market position.
More Insights into Acetic Acid Esters Market Report
In its latest report, FMI offers an unbiased analysis of the global Acetic Acid Esters market, providing historical data from 2017 to 2022 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of application (printings and coatings, food and beverages (cream toppings (coffee creams), whipping creams (shunt powders), starchy products, ice cream, sweet toppings, pastry, cakes, cake mixtures, bread and bread products, candies (film coatings), sausages), other industries), functionality (intensifier, stabilizer, emulsifier, mousse enhancer), and region.
According to the latest FMI reports, based on segmentation, the use of Acetic Acid Esters in the food and beverages sector as a flavoring agent or as a preservative will contribute substantially to the target market growth. The application of ethyl acetate, a type of acetic acid ester, in the printing and coating industry is also gaining traction.
Based on region, the Acetic Acid Esters market in India will exhibit significant growth during 2022-2032. The target market in this country will grow at 3.7% CAGR. This growth can be attributed to heightened demand for end-use applications like adhesives & sealants, paints & coatings, and pharmaceuticals. India is also one of the largest producers of acetic acid and its esters. Apart from India, countries like China and the United States will also present notable market growth.
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