Lactic acid esters are ester compounds derived from the esterification of lactic acid. It is also referred to as a derivative of lactic acid. Lactic acid is a green solvent that is obtained from the fermentation followed by purification of carbohydrates. Lactic acid esters are used as solvents in various applications across different industries. Lactic acid esters are finding increased use in agrochemicals and pharmaceuticals. In agrochemicals, they are used to produce environmentally friendly insecticides and pesticides. In the pharmaceutical sector, lactic acid esters are used in manufacturing ointments and medicines. Lactic acid ester is used in the electronics sectors as a solvent for cleaning formulation in semiconductor and electronic goods. The growing electronics industry across the globe is projected to have a positive impact on the lactic acid ester market in the coming years.
The global consumer electronic market has a huge demand in the coming years. Lactic acid ester is expected to have exponential growth in the electronic market hence it is predicted to have greater use of lactic acid ester in the upcoming years. The revenue generated from the electronics sector with respect to the use of lactic acid esters is expected to highly contribute to the growth of the global market. Lactic acid ester is used in the food products to enhance the required aeration and improve foam stabilization in beverage items include pastries, cake, and cold drinks. Lactic acid esters are widely used in the three basic types ethyl lactate, methyl lactate, and butyl lactate. Ethyl lactate is expected to witness a relatively high adoption among end-users during the forecast period. This can be attributed to its properties such as biodegradability and can be used as a water-rinsible degreaser. North America led the lactic acid ester market in 2019, owing to the significant revenue share from the bakery products industry. North America will continue to lead the lactic acid ester market in terms of product volume consumption and revenue during the forecast period.
Some Of The Impact Factors:
- The macroeconomic factors making a positive impact on the global lactic acid esters of mono and diglycerides of fatty acids market include growing health consciousness of consumers, increasing population, changing consumer lifestyle, and rapid rate of urbanization.
- Growing demand from electronic industry along with pharmaceuticals as well as agrochemicals and food & beverages
What Does This Report Provide?
- The report offers a comprehensive study of the lactic acid esters market and in-depth qualitative insights, historical data, and verifiable projections about market size.
- The Lactic acid esters market report consists of an entire industry overview to provide consumers with a complete concept of the lactic acid esters market with trends and insights
- The report describes an in-depth analysis of the key lactic acid esters industry players profiles and their financials, product offerings along with the growth strategies
- N depth analysis of lactic acid esters restraints, market drivers, challenges, and other factors impacting the industry.
- Ethyl Lactate
- Methyl Lactate
- Butyl Lactate
- Paints & Inks
- Food & Beverages
North America Lactic Acid Ester Market
- North America, by Country
- North America, by Type
- North America, by Application
Europe Lactic Acid Ester Market
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Type
- Europe, by Application
Asia Pacific Lactic Acid Ester Market
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Type
- Asia Pacific, by Application
Middle East & Africa Lactic Acid Ester Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Type
- Middle East & Africa, by Application
South America Lactic Acid Ester Market
- South America, by Country
- Rest of South America
- South America, by Type
- South America, by Application
Major Companies: Stephan Company, Merck Kraal, Galactic, Corbin N.V, GODAVARI BIOREFINERIES LTD, Cellular, Henan Jinan Lactic Acid Technology Co., Ltd, Musashino Chemical Laboratory, Ltd, Zhengzhou Tianrun Lactic Acid Co., Ltd, Shenzhen Esun Industrial Co., Ltd, QINGDAO ABEL TECHNOLOGY CO., LTD, YanchengHuade Biological Engineering Co. Ltd., VetrtecBiosolvents Inc.
Years Covered in the Study:
Historic Year: 2017-2018
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2028
Objectives of this report:
- To estimate market size for lactic acid ester market on regional and global basis.
- To identify major segments in lactic acid ester market and evaluate their market shares and demand.
- To provide a competitive scenario for the lactic acid ester market with major developments observed by key companies in the historic years.
- To evaluate key factors governing the dynamics of lactic acid ester market with their potential gravity during the forecast period.
Reasons to Buy This Report:
- Provides niche insights for decision about every possible segment helping in strategic decision-making process.
- Market size estimation of the lactic acid ester market on a regional and global basis.
- A unique research design for market size estimation and forecast.
- Identification of major companies operating in the market with related developments
- Exhaustive scope to cover all the possible segments helping every stakeholder in the lactic acid ester
This study is customized to meet your specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
- Product Specific Competitive Analysis
For more information, contact: [email protected]