Analytical research report published by Future Market Insights covers various aspects of the global market for lactic acid esters. The report reveals an analysis of end-use industries using lactic acid esters for various applications. It lays emphasis on opportunities for growth in the market of lactic acid esters 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 market for lactic acid esters 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 market by including a weighted market segmentation along with forecast projections from 2017 to 2027, a period of 10 years.
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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 as Stepan Company, Merck KGaA, Galactic, Corbion NV, GODAVARI BIOREFINERIES LTD., Cellulac, Henan Jindan Lactic Acid Technology Co., Ltd., Musashino Chemical Laboratory, Ltd., Zhengzhou Tianrun Lactic Acid Co., Ltd., and 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 ester market is expected to reach an estimate of about US $ 410 million by the end of the year of the forecast, 2027, from a valuation of about US $ 209 million in 2017. The global market for lactic acid esters is projected to grow at a CAGR value of 6.9% during the period of assessment.
Global Lactic Acid Esters Market: Segmental Snapshot
The global lactic acid ester 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 of over 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 ester 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 the 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 ester market.