The Global Ethanol Derivatives Market Growth is Accelerated by Rising Usage in Automotive Industry

Ethanol derivatives finds wide application in automotive, personal care & cosmetics, pharmaceuticals and other industrial sectors. Ethanol derivatives such as ethyl alcohol, ethyl acetate and glycol ethers are extensively used as solvents in paints, varnishes, and lacquers used in automotive refinishing. Ethanol derivatives also provide safe, renewable and affordable alternatives to toxic petroleum solvents. The global Ethanol Derivatives Market is estimated to be valued at US$ 10.2 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The use of ethanol in fuel blends like E10 and E15 has witnessed significant growth in the recent past, especially in the United States and Brazil. Ethanol blended fuel provides advantages like cleaner combustion, domestic production source, and price stability. The increasing production of flexible fuel vehicles (FFVs) compatible with E85 ethanol blended fuels is a major factor propelling the growth of the ethanol derivatives market. Countries like the U.S. and Brazil have implemented policies and incentives to promote the production and usage of cellulosic ethanol which is driving the market growth.

Segment Analysis

The global ethanol derivatives market size is dominated by the ethyl acetate segment. Ethyl acetate is mainly used as a solvent in paints, coatings, and adhesives industries due to its favorable solvent properties such as low toxicity and volatility. It accounts for over 30% of the global ethanol derivatives market share owing to increasing applications in automotive and construction industries. The growing demand for paints & coatings from these end-use industries is fueling the growth of the ethyl acetate segment in the market.

Key Takeaways

The global ethanol derivatives market is expected to witness high growth at a CAGR of 9.7% during the forecast period of 2023 to 2030.

Regionally, Asia Pacific is expected to be the fastest-growing and most lucrative region in the ethanol derivatives market. The easy availability of feedstock, growing paints & coatings industry, and increasing automobile production are driving the growth of ethanol derivatives demand in the region.

Key players operating in the ethanol derivatives market are Kingston Technology Corporation, Apple Inc., SanDisk Corp., Samsung Electronics Co. Ltd., Skullcandy, Inc., Microsoft Corporation, Sony Corp., Capdase International Limited, and Moshi, by Aevoe Group. Kingston Technology Corporation is one of the leading manufacturers of flash memory data storage devices for computers. It offers a wide range of USB flash drives and memory cards under various brands like Kingston, IronKey, and Kingston Canvas.

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