A research study titled, “Ethyl Lactate Market by Product And Application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Ethyl Lactate Market is projected to be around $1530.62 million by 2022.
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Report Overview:
The Ethyl Lactate Market was valued around USD 651.32 million in 2012 and is
expected to reach approximately USD 1530.62 million by the end of 2022 while
registering itself at a compound annual growth rate (CAGR) of 7.99% during the
forecast period. Ethyl lactate also termed lactic acid ethyl ester, is a
monobasic ester composed from lactic acid and ethanol, regularly utilized as a
dissolvable liquid. This compound is viewed as biodegradable and can be
utilized as a water-rinsable degreaser. It is naturally present in small
amounts in a number of foods like chicken, wine and different kinds of fruits.
The scents of ethyl lactate when diluted is gentle, rich, and creamy, with hints of fruit and coconut. Ethyl lactate is commonly created from organic sources. Ethyl lactate is additionally delivered mechanically from petrochemical stocks, and this ethyl lactate comprises of the racemic blend of levo and dextro frames. It is widely used as a solvent in coatings, cosmetic, fragrance, pharmaceutical, food production and detergents.
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Regional Outlook:
Based on geography, the global ethyl lactate market is segmented into North
America (Canada, US and Mexico), Europe (Germany, France, UK, Italy, Spain,
etc.), Asia Pacific (China, Japan, India, Australia, South Korea, etc.), and
Rest of the World (Saudi Arabia, Brazil, United Arab Emirates, South Africa,
and others). It has been predicted that Asia Pacific region has been dominating
the Ethyl Lactate market on production and consumption.
Major Market Players:
The leading market players in the Ethyl Lactate Market are Vertec BioSolvents,
Shenzhen Esun Industrial Co. Ltd, Yancheng Huade Biological Engineering Co.
Ltd., ADM, Henan Jindan Lactic Acid Technology Co., Ltd, QINGDAO ABEL
TECHNOLOGY CO., LTD, and Musashino Chemical Laboratory.
Ethyl Lactate Market Segmentation:
By Product: Industrial Grade Ethyl Lactate, Food Grade Ethyl Lactate, Pharmaceutical Grade Ethyl Lactate, Electronic Grade Ethyl Lactate
By Application: Electronics, Food & Beverage, Pharmaceutical, Paints & Inks, Other Applications
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