Lactic Acid Esters Market Size and Forecast, 2017 to 2027

Increasing inclination towards use of green solvent across various applications is expected to fuel the adoption of lactic acid esters

Lactic acid esters are ester compounds derived from 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 commercially used as solvents in various applications across various end use industries.

This fact based research covers overall market for lactic acid esters. This includes trends, developments by various key players and other aspects impacting the growth of the global lactic acid esters market. Additionally, analysis on drivers fuelling the growth and restraints hindering the growth of the lactic acid esters market across the globe is covered in this research report.

The market segmentation covers all angles of the market thus portraying a holistic approach. This all-inclusive research report reflects the growth path of the global lactic acid esters market by including key forecast highlights along with historical data.

According to this research report, the global lactic acid esters market is expected to reach an estimation of more than US$ 400 Mn by the end of the year of estimation (2027) from a value a little under US$ 210 Mn in 2017.

The global lactic acid esters market is projected to reflect a robust value CAGR of 6.9% throughout the period of forecast, 2017-2027.

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The revenue generated from electronics sector with respect to the use of lactic acid esters is expected to highly contribute to the growth of the global market

In the application category, lactic acid esters are being used in the electronics sector as solvents for cleaning formulation in semiconductor and electronic goods. The use of lactic acid esters has been tremendous in this field which is expected to trigger increased sales of lactic acid esters in the coming years.

With respect to the use of lactic acid esters in electronics domain, the electronics application segment in 2017 reflected a value of about US$ 65 Mn and is estimated to reach a valuation of more than US$ 125 Mn by the end of the year of assessment (2027). This segment is projected to grow at a significant value CAGR 6.8% of throughout the period of assessment.

Lactic Acid Esters Market

Food and beverages segment poised to be the second largest with respect to value

In the application category, the food and beverage segment is expected to be the second largest with respect to market valuation. The food and beverage segment is estimated to reach a value of about US$ 90 Mn by the end of the year of assessment (2027) from a value of around US$ 45 Mn in 2017 and is projected to grow at a value CAGR of 7.2% throughout the period of forecast.

Apart from revenue generation, this segment is also expected to be the second fastest growing segment in the application category.

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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.

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)

Frequently Asked Questions

How is the Lactic Acid Esters Market Growing?

The lactic acid esters market is predicted to grow at 6.9% CAGR through 2032.

Which Region Holds the Highest Revenue Potential in the Lactic Acid Esters Market?

North America lactic acid esters market holds the highest revenue potential.

What is the Future Scope of Growth for the Lactic Acid Esters Market?

The lactic acid esters market is expected to surpass US$ 558.40 Mn by 2032.

What is the Lactic Acid Esters Market Size?

The lactic acid esters market size is anticipated to be over US$ 286.53 Mn in 2022.

Table of Content

1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
2.3. Market Overview
3. Market View Point
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
4. Global Lactates Market Analysis 2012–2016 and Forecast 2017–2027
4.1. Market Volume Projections
4.2. Market Size and Y-o-Y Growth
4.3. Absolute $ Opportunity
4.4. Value Chain
5. Forecast Factors: Relevance and Impact
6. Global Lactates Market Analysis 2012–2016 and Forecast 2017–2027 by Type
6.1. Introduction
6.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Type, 2012–2016
6.3. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
6.3.1. Ethyl Lactate
6.3.2. Methyl Lactate
6.3.3. Butyl Lactate
6.3.4. Others
6.4. Drivers and Restraints: Impact Analysis
6.5. Market Attractiveness Analysis by Type
6.6. Market Trends
7. Global Lactates Market Analysis 2012–2016 and Forecast 2017–2027 by Application
7.1. Introduction
7.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Application, 2012–2016
7.3. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
7.3.1. Electronics
7.3.2. Paints & Inks
7.3.3. Agrochemicals
7.3.4. Pharmaceuticals
7.3.5. Food & Beverage
7.3.6. Others
7.4. Drivers and Restraints: Impact Analysis
7.5. Market Attractiveness Analysis by Application
7.6. Market Trends
8. Global Lactates Market Analysis 2012–2016 and Forecast 2017–2027, By Region
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) and Volume Forecast By Region, 2012-2016
8.3. Current Market Size (US$ Mn) and Volume Forecast By Region, 2017-2027
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. Asia Pacific Excluding Japan
8.3.6. Japan
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis by Region
9. North America Lactates Market Analysis 2012–2016 and Forecast 2017–2027
9.1. Introduction
9.2. Pricing Analysis
9.3. Regional Market Dynamics
9.3.1. Drivers
9.3.2. Restraints
9.3.3. Trends
9.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
9.4.1. Country
9.4.2. Type
9.4.3. Application
9.5. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country, 2017–2027
9.5.1. U.S.
9.5.2. Canada
9.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
9.6.1. Ethyl Lactate
9.6.2. Methyl Lactate
9.6.3. Butyl Lactate
9.6.4. Others
9.7. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
9.7.1. Electronics
9.7.2. Paints & Inks
9.7.3. Agrochemicals
9.7.4. Pharmaceuticals
9.7.5. Food & Beverage
9.7.6. Others
9.8. Others Drivers and Restraints: Impact Analysis
9.9. Market Attractiveness Analysis
9.9.1. Country
9.9.2. Type
9.9.3. Application
9.10. Key Representative Market Participants
9.11. Market Presence (Intensity Map)
10. Latin America Lactates Market Analysis 2012–2016 and Forecast 2017–2027
10.1. Introduction
10.2. Pricing Analysis
10.3. Regional Market Dynamics
10.3.1. Drivers
10.3.2. Restraints
10.3.3. Trends
10.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
10.4.1. Country
10.4.2. Type
10.4.3. Application
10.5. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country, 2017–2027
10.5.1. Brazil
10.5.2. Mexico
10.5.3. Argentina
10.5.4. Rest of Latin America
10.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
10.6.1. Ethyl Lactate
10.6.2. Methyl Lactate
10.6.3. Butyl Lactate
10.6.4. Others
10.7. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
10.7.1. Electronics
10.7.2. Paints & Inks
10.7.3. Agrochemicals
10.7.4. Pharmaceuticals
10.7.5. Food & Beverage
10.7.6. Others
10.8. Others Drivers and Restraints: Impact Analysis
10.9. Market Attractiveness Analysis
10.9.1. Country
10.9.2. Type
10.9.3. Application
10.10. Key Representative Market Participants
10.11. Market Presence (Intensity Map)
11. Western Europe Lactates Market Analysis 2012–2016 and Forecast 2017–2027
11.1. Introduction
11.2. Pricing Analysis
11.3. Regional Market Dynamics
11.3.1. Drivers
11.3.2. Restraints
11.3.3. Trends
11.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
11.4.1. Country
11.4.2. Type
11.4.3. Application
11.5. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
11.5.1. Country
11.5.2. Type
11.5.3. Application
11.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country, 2017–2027
11.6.1. Germany
11.6.2. Italy
11.6.3. France
11.6.4. UK
11.6.5. Spain
11.6.6. Nordic
11.6.7. BENELUX
11.6.8. Rest of Western Europe
11.7. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
11.7.1. Ethyl Lactate
11.7.2. Methyl Lactate
11.7.3. Butyl Lactate
11.7.4. Others
11.8. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
11.8.1. Electronics
11.8.2. Paints & Inks
11.8.3. Agrochemicals
11.8.4. Pharmaceuticals
11.8.5. Food & Beverage
11.8.6. Others
11.9. Others Drivers and Restraints: Impact Analysis
11.10. Market Attractiveness Analysis
11.10.1. Country
11.10.2. Type
11.10.3. Application
11.11. Key Representative Market Participants
11.12. Market Presence (Intensity Map)
12. Eastern Europe Lactates Market Analysis 2012–2016 and Forecast 2017–2027
12.1. Introduction
12.2. Pricing Analysis
12.3. Regional Market Dynamics
12.3.1. Drivers
12.3.2. Restraints
12.3.3. Trends
12.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
12.4.1. Country
12.4.2. Type
12.4.3. Application
12.5. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
12.5.1. Country
12.5.2. Type
12.5.3. Application
12.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country, 2017–2027
12.6.1. Russia
12.6.2. Poland
12.6.3. Rest of Eastern Europe
12.7. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
12.7.1. Ethyl Lactate
12.7.2. Methyl Lactate
12.7.3. Butyl Lactate
12.7.4. Others
12.8. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
12.8.1. Electronics
12.8.2. Paints & Inks
12.8.3. Agrochemicals
12.8.4. Pharmaceuticals
12.8.5. Food & Beverage
12.8.6. Others
12.9. Others Drivers and Restraints: Impact Analysis
12.10. Market Attractiveness Analysis
12.10.1. Country
12.10.2. Type
12.10.3. Application
12.11. Key Representative Market Participants
12.12. Market Presence (Intensity Map)
13. Asia Pacific Excluding Japan (APEJ) Lactates Market Analysis 2012–2016 and Forecast 2017–2027
13.1. Introduction
13.2. Pricing Analysis
13.3. Regional Market Dynamics
13.3.1. Drivers
13.3.2. Restraints
13.3.3. Trends
13.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
13.4.1. Country
13.4.2. Type
13.4.3. Application
13.5. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country, 2017–2027
13.5.1. China
13.5.2. India
13.5.3. ASEAN
13.5.4. Oceania
13.5.5. Rest of APEJ
13.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
13.6.1. Ethyl Lactate
13.6.2. Methyl Lactate
13.6.3. Butyl Lactate
13.6.4. Others
13.7. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
13.7.1. Electronics
13.7.2. Paints & Inks
13.7.3. Agrochemicals
13.7.4. Pharmaceuticals
13.7.5. Food & Beverage
13.7.6. Others
13.8. Others Drivers and Restraints: Impact Analysis
13.9. Market Attractiveness Analysis
13.9.1. Country
13.9.2. Type
13.9.3. Application
13.10. Key Representative Market Participants
13.11. Market Presence (Intensity Map)
14. Japan Lactates Market Analysis 2012–2016 and Forecast 2017–2027
14.1. Introduction
14.2. Pricing Analysis
14.3. Regional Market Dynamics
14.3.1. Drivers
14.3.2. Restraints
14.3.3. Trends
14.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
14.4.1. Type
14.4.2. Application
14.5. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
14.5.1. Ethyl Lactate
14.5.2. Methyl Lactate
14.5.3. Butyl Lactate
14.5.4. Others
14.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
14.6.1. Electronics
14.6.2. Paints & Inks
14.6.3. Agrochemicals
14.6.4. Pharmaceuticals
14.6.5. Food & Beverage
14.6.6. Others
14.7. Others Drivers and Restraints: Impact Analysis
14.8. Market Attractiveness Analysis
14.8.1. Type
14.8.2. Application
14.9. Key Representative Market Participants
14.10. Market Presence (Intensity Map)
15. Middle East Lactates Market Analysis 2012–2016 and Forecast 2017–2027
15.1. Introduction
15.2. Pricing Analysis
15.3. Regional Market Dynamics
15.3.1. Drivers
15.3.2. Restraints
15.3.3. Trends
15.4. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2012–2016
15.4.1. Country
15.4.2. Type
15.4.3. Application
15.5. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Country, 2017–2027
15.5.1. GCC
15.5.2. Israel
15.5.3. Turkey
15.5.4. South Africa
15.5.5. Rest of MEA
15.6. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Type, 2017–2027
15.6.1. Ethyl Lactate
15.6.2. Methyl Lactate
15.6.3. Butyl Lactate
15.6.4. Others
15.7. Current Market Size (US$ Mn) and Volume (Tonnes) Forecast By Application, 2017–2027
15.7.1. Electronics
15.7.2. Paints & Inks
15.7.3. Agrochemicals
15.7.4. Pharmaceuticals
15.7.5. Food & Beverage
15.7.6. Others
15.8. Others Drivers and Restraints: Impact Analysis
15.9. Market Attractiveness Analysis
15.9.1. Country
15.9.2. Type
15.9.3. Application
15.10. Key Representative Market Participants
15.11. Market Presence (Intensity Map)
16. Competition Landscape
16.1. Market Structure
16.2. Market Share Analysis
16.3. Competition Intensity Mapping By Market Taxonomy
16.4. Competition Dashboard
16.5. Company Profiles (Details – Overview, Financials, Strategy, Recent Developments)
16.5.1. Stephan Company
16.5.2. Merck Kraal
16.5.3. Galactic
16.5.4. Corbin N.V
16.5.5. GODAVARI BIOREFINERIES LTD
16.5.6. Cellular
16.5.7. Henan Jinan Lactic Acid Technology Co., Ltd
16.5.8. Musashino Chemical Laboratory, Ltd
16.5.9. Zhengzhou Tianrun Lactic Acid Co., Ltd
16.5.10. Shenzhen Esun Industrial Co., Ltd
16.5.11. QINGDAO ABEL TECHNOLOGY CO., LTD
16.5.12. Yancheng Huade Biological Engineering Co.,Ltd
16.5.13. Vetrtec Biosolvents Inc.