Lactic Acid Ester Market share forecast to witness considerable growth from 2018 to 2025

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Lactic Acid Ester Market share research by
applications and regions for 2018-2025 Global
Market Insights, Inc.
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Overview of Lactic Acid Ester Market

• North America led the lactic acid ester market in
  2017, owing to the significant revenue share from
  bakery products industry. North America will
  continue to lead the lactic acid ester market in
  terms of product volume consumption and revenue
  during the forecast period. Asia Pacific will
  grow at a highest CAGR over the forecast
  timespan. This can be attributed to the rapidly
  increasing pharmaceutical and personal care
  industries in the region. China and India will
  have major contribution in the product demand
  owing to increasing disposable income of
  consumers. Europe was the largest lactic acid
  ester market in 2017 followed by North America.
  Food beverage industry registered the
  significant product demand and shall continue to
  grow with a prominent CAGR in near future.
• Lactic Acid Ester Market size is likely to
  experience growth with a prominent CAGR over the
  forecast timeframe, 2018 2025. Lactic acid
  esters are derived from esterification of lactic
  acid. It is a green solvent, which can be
  produced both naturally and synthetically.
  Increasing inclination towards green solvents
  across various application segments is likely to
  fuel the lactic acid ester market growth in near
  future. Lactic acid ester is majorly used as a
  solvent in various end-use industries.

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• Lactic acid ester is used in the electronics
  sector as a solvents for cleaning formulation in
  semiconductor and electronic goods. Growing
  electronics industry across the globe is
  projected to have the positive impact on lactic
  acid ester market in coming years. Ever growing
  population has led the increasing consumer
  electronics good demand in past several years.
  According Global Market Insights, the global
  consumer electronics market shall pass the USD
  1.5 billion mark by 2024. This exponential growth
  in the consumer electronics is anticipated to
  fuel the lactic acid ester market growth over the
  forecast period. Food beverage industry is one
  of the vital end-use industry to surge the
  product demand across the globe. Lactic acid
  ester is used in the food products to enhance the
  required aeration and improve foam stabilization
  in beverage items include pastries, cake and cold
  drinks. In accordance with the increasing bakery
  product demand, lactic acid ester market is
  likely to grow with a rapid pace during the
  forecast timespan.
• Pharmaceutical industry is supposed to offer the
  noteworthy opportunities lactic acid ester
  market, owing to its growing demand on functional
  food dietary supplements. This can be attributed
  to the increasing health and fitness awareness
  which has led to increased consumption of
  nutrition supplements from last several years.
  However, high product price and volatility in the
  raw material prices is likely to restrain the
  lactic acid ester market expansion.

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• Lactic acid esters are widely used in the three
  basic types ethyl lactate, methyl lactate and
  butyl lactate. Ethyl lactate is anticipated to
  witness a relatively high adoption among
  end-users during the forecast period. This can be
  attributed to its properties such as
  biodegradability and can be used as a
  water-rinsible degreaser. In addition. The ethyl
  lactate odor while diluted is mild. Lactic acid
  ester finds its applications in various end-use
  industries include, Electronics, personal care,
  food beverage, paints inks, agrochemicals and
  pharmaceuticals.
• Among these industries electronics was having the
  largest market share in 2017 and anticipated to
  grow with a prominent CAGR in coming years. Food
  beverage shall grow with a highest CAGR during
  the forecast period. This cab be attributed to
  the increasing product adoption in various
  applications in the industry.

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• The lactic acid ester market comprises several
  large-scale and medium-scale manufacturers.
  Prominent players operating in the industry are
  Merck KGaA, Stephan Company, Corbion N. V.,
  Qingdao Abel Technology Co.Ltd, Cellulac Plc,
  Shanghai Ruizheng Chemical Technology Co Ltd,
  Henan Jindan Lactic Acid Technology Co.Ltd,
  Shenzhen Esun Industrial Co, Shandong Enno New
  Material Co., Ltd, Zhengzhou Tianrun Lactic Acid
  Co., Ltd., Musashino Chemical Laboratory, Ltd,
  Vetrtec Biosolvents Inc, Yancheng Huade
  Biological Engineering Co. Ltd and Godavari
  Biorefineries Ltd.
• players operating in the lactic acid ester market
  are trying to increase their customer rich by
  opening a new subsidiary and manufacturing
  plants. In May 2017, Merck KGaA has indicated
  that it may split its three business units, which
  are life science, performance materials and
  healthcare into the separate subsidiaries as part
  of plans to divide enterprises planning systems.
  This step will lower the internal complexities
  and optimally utilize the potential of all three
  business sectors. These changes are likely to be
  completed in the 2018.

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Methodology

• Market
  research reports Key analytical components

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