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Ethyl Acetate Market Size Worth $8.3 Billion By 2028 | CAGR: 8.8%: Grand View Research, Inc.

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The global ethyl acetate market size is expected to reach USD 8.3 billion by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.8% from 2021 to 2028. The market growth can be attributed to a significant increase in the production of sustainable packaging products such as flexible packaging owing to rising environmental concerns, which is anticipated to propel the demand for solvent-based printing inks in the packaging industry over the forecast period.

Key Insights & Findings:

  • The market is expected to witness significant growth over the forecast period due to rising product demand in food and beverage and pharmaceutical applications
  • The food and beverage segment emerged as the largest end-use segment in 2020 and is estimated to generate revenue over USD 2.0 billion by 2028
  • In Asia Pacific (APAC), the market is projected to witness the fastest growth over the estimated period due to rapid economic progress, industrialization, and growth of major end-use sectors across countries, such as IndiaChina, and Japan
  • Rapid development of food and beverages and automotive manufacturing industries in APAC is also fueling the demand for the product in the regional market

Read 85 page market research report, “Ethyl Acetate Market Size, Share & Trends Analysis Report By End Use (Food & Beverages, Pharmaceutical, Automotive, Artificial Leather, Packaging), By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research

Ethyl acetate solvents are witnessing an increase in demand across the world owing to their growing application scope in various key end-use industries such as fragrances, food, and beverages, automotive, Pharmaceuticals, and packaging. Further, it is used in coating formulations such as acrylics, urethanes, and epoxies. These coatings are applied on fixtures, wood furniture, and mining equipment. They are also used in construction, agriculture, marine, and auto refinishing applications. The consumption of the product in coatings and paints is expected to surge in the coming years owing to the flourishing construction industry.

It is majorly used as a flavor enhancer in different food and beverage products such as coffee, tea, and confectionery items. It has a sweet smell which is also used to add fruity flavors to gum, baked goods, candy, and others. In the pharmaceutical industry, solvent extraction finds many applications owing to its suitability for processing heat-sensitive products and inherent flexibility. As a result, considering environmental impact and human safety, the product is anticipated to witness high consumption for solvent extraction in the pharmaceutical industry.

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The recent outbreak of COVID-19 has led to disruptions in the overall value chain of ethyl acetate worldwide. In 2020, the impact of COVID-19 on the ethanol industry was sharp and swift. Falling consumption and negative operating margins led to dramatic cut downs in ethanol production. This, in turn, affected the global demand of the industry in the year 2020. However, a complete recovery of the market is expected by the first quarter of 2022 with the stabilization of global economies of industrial sectors worldwide.

Grand View Research has segmented the global ethyl acetate market on the basis of end-use, and region:

  • Ethyl Acetate End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
    • Food & Beverage
    • Pharmaceutical
    • Automotive
    • Artificial Leather
    • Packaging
    • Others
  • Ethyl Acetate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
      • France
    • Asia Pacific
      • China
      • India
      • Japan
    • Central & South America
      • Middle East & Africa

List of Key Players of Ethyl Acetate Market

  • INEOS
  • Solvay
  • Eastman Chemical Company
  • Sipchem
  • Sasol Limited
  • Daicel Corporation

Check out more studies on related topics, conducted by Grand View Research:

  • Ethylene Vinyl Acetate Copolymer Market – The global ethylene vinyl acetate copolymer market size was valued at USD 7.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027.
  • Ethylene Copolymers Market – The global ethylene copolymers market size was valued at USD 37.80 billion in 2016. Inherent advantages of ethylene copolymers coupled with the global growth in the packaging industry are expected to benefit the market growth over the next eight years.
  • Diethylene Glycol Monobutyl Ether Acetate Market – The global diethylene glycol monobutyl ether acetate market size was estimated at USD 122.3 million in 2018 and is expected to witness a revenue-based CAGR of 3.3% from 2019 to 2025.

Artificial Intelligence

Eye Level holds its 2024 Eye Level Math Olympiad for students to test out their math skills.

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SEOUL, South Korea, Oct. 17, 2024 /PRNewswire/ — Eye Level is hosting the 2024 Math Olympiad (ELMO 2024), inviting students from grades 1 to 8 worldwide to showcase their math skills. The competition will run from November 9 to December 1, following each country’s schedule across 15 countries.object

This Olympiad, part of the annual Eye Level Math Olympiad series established in 2004, offers students a valuable opportunity to assess and enhance their mathematical abilities. The test lasts approximately one hour and is designed to challenge students across various areas of math skills, covering most arithmetic and critical thinking domains. Questions are tailored to each grade level, allowing students to evaluate their skills objectively.All participants will receive a certificate of participation and a comprehensive analysis of their test results. Official results and winners will be announced in January 2025 on myeyelevel.com, with award ceremonies planned to be held locally for outstanding participants.
Registration is currently open on myeyelevel.com.
About Eye Level
Eye Level is an international provider of supplemental education services in Math and English with more than 2 million students having experienced its programs. Eye Level guides the students to learn at their own pace, and achieve their goals. With a growth-minded learning process, Eye Level helps students build good learning habits that become the foundation of great talent – setting them up for success in school and beyond. 
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n2 Group Advances HPC/AI Portfolio by Acquiring Managed Services Company X-ISS

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OXFORD, England, Oct. 17, 2024 /PRNewswire/ — n2 Group, the transformative computing technology investment company, announces the acquisition of high-performance computing (HPC) and AI specialists, X-ISS. The addition of X-ISS expands the Group’s portfolio– joining NAG, VSNi, BioTeam and STAC—as it accelerates advancements in technology and computation, underpinned by innovation, technical excellence, and a focus on long-term growth.

n2 Group invests selectively in technical computing companies with deep business impact in a variety of sectors, providing operational support and a collaborative approach to innovation and business transformation. The addition of X-ISS will further strengthen the Group’s already strong HPC/AI credentials, with NAG, STAC and BioTeam already adding to this space. 
X-ISS is a pioneer in Managed Services specifically designed for HPC/AI. With their in-depth understanding of hardware and software complexities within HPC and AI, they deliver highly impactful end-to-end services to clients through the integration, optimization and management of HPC/AI systems. The integration of X-ISS into n2 Group aligns with the Group vision of improving the accessibility, quality and robustness of computing solutions to enable greater productivity in industry. 
X-ISS will operate as an autonomous business within the n2 Group, maintaining its brand, identity and ethos. n2 Group’s status as an independent, member-backed organisation with no external financial stakeholders allows X-ISS to continue providing impartial advice based on the technology needs and challenges of its clients. Inter-group synergies will enable greater innovation and collaboration, advancing the Group’s position and long-term HPC/AI market impact. 
“X-ISS strengthens the n2 community in the strategically important area of HPC/AI”, said Adrian Scales, Snr Director of Investments and Partnerships at n2 Group. “As a respected boutique HPC service provider, X-ISS is helping clients navigate an increasingly complex landscape in terms of technologies and software integrations with AI and analytics. The acquisition strongly complements the Group’s existing HPC professional services capability, and we are delighted to have them on board.”
“This is an important milestone for X-ISS.”, said Deepak Khosla, CEO X-ISS, “The partnership with n2 Group will enable us to enhance our flagship ManagedHPC solution by leveraging n2’s complementary services and product developments, allowing us to deliver even greater value to our customers. As businesses face increasing challenges with complex technologies like AI and cloud computing, we’re now better equipped to support them with the same quality, passion, and partnership that defines X-ISS. I am excited about the opportunities this can bring for current and future X-ISS customers.”
About n2 Group  
At n2 Group we are transforming computing and technology investment with a radical new approach. Our businesses are all established, purpose-driven market-leaders in computing products or services. We stimulate long-term sustainable growth through group-level support in strategy, business development, innovation, and operations. With no shareholders or external financial interests, we reinvest all profits back into the group or to the community, reinforcing our commitment to positive social impact through technological advancements.    
n2 Group companies are at the forefront of computing and IT infrastructure, helping clients in various sectors to be more productive, innovative or reduce risk through advanced software and services. Rapidly expanding in high-performance computing, artificial intelligence, and scientific computing, our businesses maintain their unique brands and identities, but benefit from the expanded network available through the group.   
n2 Group Companies  
•  BioTeam: Scientific computing consultancy integrating technologies, data, and cultures to accelerate science. 
•  NAG: Advanced products and services in algorithms, optimization, high-performance computing and AI. 
•  STAC: Independent financial services technology research and community events. 
•  VSNi: Proven statistical solutions and data expertise driving innovation and success.  
•  X-ISS: Industry leading management and analytics solutions for HPC/AI systems.
For more detailed information and the latest updates, visit n2 Group. 
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TIE 2024 Unveils a New Era of Innovation

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A New Era of AI-powered Innovation and Industrial Revolution: Driving Integration of Smart Tech into Daily Life.
TAIPEI, Oct. 17, 2024 /PRNewswire/ — The 2024 Taiwan Innotech Expo (TIE) kicked off today at Taipei World Trade Center with a focus on “Smart Tech Island –The New Era of AI.” This year’s event showcases over a thousand advanced technologies and research achievements across six key areas: digital information, data security, precision health, defense, green and renewable energy, and civil and military resilience, heralding a new chapter in the technological evolution of industries.

Online and On-Site Exhibitions Offers Comprehensive Access to the Latest Innovations
TIE 2024 offers a seamless blend of virtual and physical experiences. Visitors can explore technologies, register for events, and plan their visit online before the expo opens. During the expo period, the event website provides essential tools such as e-meeting requests, product maps, and program registration. For those who were unable to attend in person, online attendees can view exhibits and access business negotiation records even after the expo is closed, fostering ongoing collaboration and opportunities. As a leading platform for technological innovation exchanges in Taiwan, TIE 2024 showcases the nation’s advancements in AI and smart technologies. This event is anticipated to drive industry transformation and opens new chapters in technological innovation.
Official Website: https://tie.twtm.com.tw/en

View original content:https://www.prnewswire.co.uk/news-releases/tie-2024-unveils-a-new-era-of-innovation-302279310.html

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