Lactic Acid Esters Market | Present Scenario, Growth Prospects and Competition Analysis by 2027

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. 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. 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.

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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 asStepan 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.

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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, favorable 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.

Market Segmentation

By Product Type:

  • Ethyl Lactate
  • Methyl Lactate
  • Butyl Lactate
  • Others

By Application:

  • Electronics
  • Paints & Inks
  • Agrochemicals
  • Pharmaceuticals
  • Food & Beverages
  • Others

Lactic acid esters adoption scenario in the agrochemicals and pharmaceutical sectors during 2017-2027

Lactic acid esters are finding increased use in agrochemicals and pharmaceuticals. In agrochemicals they are used to produce environment friendly insecticides and pesticides. In the pharmaceutical sector, lactic acid esters are used in manufacturing ointments and medicines.

The agrochemical segment is expected to show increased adoption of lactic acid esters as compared to pharmaceutical segment, and is poised to grow at a comparatively higher rate during the forecast period. However, the use of lactic acid esters has been prominent since past years in the pharmaceutical sector, which makes this segment a significantly larger with respect to valuation than the agrochemical segment.

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Frequently Asked Questions

  • How is the Lactic Acid Esters Market Growing?
  • Which Region Holds the Highest Revenue Potential in the Lactic Acid Esters Market?
  • What is the Future Scope of Growth for the Lactic Acid Esters Market?
  • What is the Lactic Acid Esters Market Size?

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 5-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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