The market for ethanol derivatives is huge and is made up of numerous chemical products that are categorised into numerous classes based on their functions and traits. Ethyl acetate and acetaldehyde are the two principal substances that are ethanol derivatives. While producing synthetic leather and silk, as well as photographic plates & films, ethyl acetate is generally released. Ethyl acetate works as an excellent solvent in base coats, nail polish remover, nail polish, and other items like nitrocellulose, dry cleaning, stains, lacquers, varnishes, and other materials, ethyl acetate serves as a solvent. The oxidation of ethanol leads to acetaldehyde as the product. Acetaldehyde is a crucial raw material used in the synthesis of a wide variety of chemicals, including plasticizers for plastics and paint binders in alkyd paints, production of explosives, fire retardant paints, and construction materials. Acetaldehyde is used in the manufacturing of sedatives and tranquilizers, among other products, in the pharmaceutical industry.
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The demand for ethanol derivatives is predicted to rise during the forecast period due to an increase in the need for these substances across a variety of end-user sectors, including paint and coatings, cosmetics, and pharmaceuticals. Although, the demand for paints & coatings consumption is far less by the construction sector, and majorly consumed for automobile coatings. Marine coatings for manufacturing large ships also contribute to the market.
The Ethanol Derivatives market is segregated based on end-use, sales channel, and region. Based on the end-user industry, the South Korea Ethanol Derivatives market is segregated into Paints, Coating & Adhesives, Personal Care and Cosmetics, Pharmaceutical, and Others. Although, the Paints, Coating & Adhesive industry is the major consumer of the Ethanol Derivatives market in South Korea and consumed approximately 45% of the market in the year 2022.
Based on region, the South Korea Ethanol Derivatives market is segregated into Northern South Korea, Central South Korea, and Southern South Korea. Northern South Korea is the leading consumer of derivatives followed by Southern South Korea. In 2022, Northern South Korea consumed more than 40% of the market.
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“South Korea Ethanol Derivatives Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, 2015-2030”, There is only one player in the South Korea Ethanol Derivatives market which is Korea Alcohol. Major players in Global Ethanol Derivatives market are Celanese Corporation, Jiangmen Handsome, Jiangsu Jinmaoyuan, India Glycols Limited, Jubliant Lifesciences, Jiangu Sopo, Laxmi Organic Industies Ltd, Anhui Huayi, and Braskem.
“Ethanol Derivatives are substances that are derived from using ethanol but the most prominently used ones are ethyl acetate and acetaldehyde. Continuously increasing demand for these chemicals or manufacturing paints & coatings which are further used by numerous industries across South Korea such as automobile, construction, and marine sectors is expected to boost the demand for Ethanol Derivatives in South Korea in the forecast period until 2030. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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