Press release
Lactic Acid Ester Market by latest Key Players: 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
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.
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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.
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.
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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.
Top key players:
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.
Market share calculation in this report is not done based on companies covered in it. The calculation of lactic acid ester market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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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.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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