The global demand for Ethyl Lactate Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Ethyl lactate is a biodegradable compound used as a chemical intermediate in producing many different end-user products. It is a highly desirable solvent used in cellulose and resins products, paints, lacquers, polymers, enamels, and varnishes. It also finds its usage as a food additive and in the formulation of several cosmetic products like moisturizers, cleansing products, skincare products, and makeup, shampoos, hair dyes, and lotions. It is a very effective graffiti remover and paint stripper. This compound is a high performing, versatile, easy, and inexpensive to recycle, non-corrosive, non-carcinogenic, and non-ozone depleting. It is exempt from many restrictions imposed under the disposal of chemicals since it is labeled as green.
Ethyl lactate serving as a suitable replacement for petroleum-based solvent because of its biodegradable and nontoxic characteristics will be the main stimulating factor for this market’s growth. Fast-paced lifestyles and the increased consumption of baked goods will boost the market for ethyl lactate. The demand for this cost-effective and easy to recycle chemical for use as a cleaning agent in the rapidly expanding electronics, aviation, and other industrial sectors will be a market booster. The growing utilization of this environment-friendly chemical in pharmaceuticals will spur market growth. This market’s growth can witness a roadblock due to the side effects of this chemical like skin and eye irritation on prolonged exposure.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of ethyl lactate.
The entire ethyl lactate market has been sub-categorized into product and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Industrial Grade Ethyl Lactate
- Food Grade Ethyl Lactate
- Pharmaceutical Grade Ethyl Lactate
- Electronic Grade Ethyl Lactate
- Food & Beverage
- Paints & Inks
This section covers regional segmentation which accentuates on current and future demand for ethyl lactate market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Ethyl Lactate Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the ethyl lactate market include Corbion, Galactic (a subsidiary of Finasurce SA), ADM, Musashino Chemical Laboratory, Ltd., Vertec BioSolvents, Yancheng Huade Biological Engineering Co. Ltd., Henan Jindan Lactic Acid Technology Co., Ltd., Zhengzhou Tianrun Lactic Acid Co., Ltd., Shenzhen Esun Industrial Co. Ltd., Qingdao Abel Technology Co., Ltd. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.