What is the supply-demand balance and capacity outlook for China's methyl acetate market?

What is the supply-demand balance and capacity outlook for China's methyl acetate market?
China's methyl acetate market has been expanding steadily. In 2022, domestic production reached approximately 1.289 million tons, up 7.0% year-on-year, while consumption grew 6.6% to about 1.027 million tons, implying a modest surplus. Average prices rose to around 4,100 yuan/ton, supported by firm downstream demand and higher upstream acetic acid costs. Key producers include Jiangsu Ruifeng, Hunan Xiangwei, and Anhui Wanwei. Demand is diversifying: beyond traditional uses in paints, inks, adhesives, and synthetic leather, methyl acetate is increasingly consumed as a raw material for acetic anhydride and as a substitute for acetone and ethyl acetate in eco-friendly solvent applications. The market is also seeing technology shifts, with solid-acid and ionic-liquid catalysts replacing sulfuric acid, and emerging coal-based dimethyl ether carbonylation routes offering a cheaper, greener production path.