The global lactic acid esters market is anticipated to experience significant growth, with a projected compound annual growth rate (CAGR) of 6.9% from 2017 to 2027. This robust growth is driven by increasing demand for biodegradable and eco-friendly alternatives in various industries, including pharmaceuticals, food and beverages, and personal care. The rise in consumer awareness regarding environmental sustainability and the expanding applications of lactic acid esters in enhancing product performance are key factors contributing to the market’s positive trajectory. As industries continue to seek more sustainable solutions, the lactic acid esters market is well-positioned for substantial advancements and opportunities over the forecast period.
The analytical research report published by Future Market Insights covers various aspects of the global market for lactic acid esters. The report reveals analysis on end use industries using lactic acid esters for various applications. It lays emphasis on opportunities for growth in the lactic acid esters market along with key factors pushing the growth of the global market. The various facets of the global market across important geographies are monitored.
The report covers the impact of factors that change from region to region thus changing the scenario of the lactic acid esters market in that particular region. This gives a brief idea about the market potential for lactic acid esters in various regions that the reader can use to plan future expansion. The comprehensive research study portrays a realistic picture of the global lactic acid esters market by including a weighted market segmentation along with forecast projections from 2017 till 2027, a period of 10 years.
Elevate your Business Strategy with Insights from our Industry Overview. Request a Sample to Uncover Growth Opportunities Now!
Global Lactic Acid Esters Market: Competitive Assessment
The research report on global lactic acid esters market covers analysis on various key players operating in the market. The list includes major companies such as Stepan Company, Merck KGaA, Galactic, Corbion N.V, GODAVARI BIOREFINERIES LTD., Cellulac, Henan Jindan 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., Yancheng Huade Biological Engineering Co.,Ltd., and Vetrtec Biosolvents Inc.
Global Lactic Acid Esters Market: Forecast Analysis
According to this research report, the global lactic acid esters market is expected to reach an estimate of around US$ 410 Mn by the end of the year of forecast, 2027, from a valuation of about US$ 209 Mn in 2017. The global market for lactic acid esters is projected to grow at a value CAGR of 6.9% during the period of assessment.
Global Lactic Acid Esters Market: Segmental Snapshot
The global lactic acid esters market is segmented on the basis of product type, application and region.
- With respect to product type, ethyl acetate is expected to show high adoption across industries in the coming years. The ethyl acetate segment is projected to be the largest with a market share in excess of 65% during the forecast period, consequently leading the global market.
- By application, the electronics and food and beverage segments are expected to largely contribute to the revenue growth of the global market for lactic acid esters in the coming years. Of these, the electronics segment is poised to show a much higher market value.
- By region, North America is the largest reflecting a high market attractiveness. However, the lactic acid esters market in Asia Pacific excluding Japan (APEJ) region is expected to grow at a higher rate during the forecast period.
Global Lactic Acid Esters Market: Dynamics Influencing Growth
Higher inclination towards use of green solvents in various industries, growing electronics sector across the globe, market consolidation and expansion, favourable government policies, rising food and beverage sector, availability of technologically advanced infrastructure, increasing focus on value added products coupled with favourable FDI policies, availability of natural feedstock and growth in personal care sector are expected to contribute to the growth of the global lactic acid esters market.
Contact Our Sales Team Now to Discuss How You Can Acquire This Report and Gain Valuable Insights for Your Business.
Market Segmentation
By Product Type
- Ethyl Lactate
- Methyl Lactate
- Butyl Lactate
- Others
By Application
- Electronics
- Paints & Inks
- Agrochemicals
- Pharmaceuticals
- Food & Beverages
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube