The Ethyl Lactate Global Market Report 2023, provides comprehensive information on the ethyl lactate market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global ethyl lactate market is set to witness substantial growth, with an anticipated increase from $2.14 billion in 2022 to $2.34 billion in 2023, representing a commendable compound annual growth rate (CAGR) of 9.1%. Nevertheless, the recent Russia-Ukraine conflict has temporarily hindered the global economic recovery from the COVID-19 pandemic. This geopolitical turmoil has resulted in economic sanctions, rising commodity prices, and disruptions in the supply chain, which, in turn, have given rise to inflation in the prices of various goods and services. Despite these challenges, the global ethyl lactate market is projected to achieve a market size of $3.20 billion by 2027, reflecting a notable CAGR of 8.22%.
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Production expansion is a key trend in gaining popularity in the ethyl lactate market. Major companies operating in the ethyl lactate market are focused on increasing production capacity to strengthen their position in the market. For instance, in March 2021, Corbion a Netherland-based food and biochemicals company increase its capacity for producing lactic acid and lactic-acid derivatives ahead of its previously announced major expansion in Thailand scheduled for 2023. The global initiative, which involves making capital investments at four current Corbion facilities to increase efficiencies and take advantage of synergies, is anticipated to result in a combined additional output that is roughly equivalent to a new production site without having to construct one. It is important to address the clients’ more urgent requirements before making arrangements to anticipate their longer-term desires. Customers will immediately benefit from improved security while the company makes these investments in efficiency.
The ethyl lactate market is segmented:
1) By Grade: Food Grade, Medical Grade, Industrial Grade, Other Grades
2) By Application: Adhesives, Cleaners, Inks, Solvents, Food Additives, Fragrances, Other Applications
3) By End User: Food and Beverages, Electronics, Paints and Coatings, Packaging and Printing ink, Pharmaceuticals, Cosmetics and Personal Care, Industrial Cleaning, Agrochemicals
Asia-Pacific was the largest region in the ethyl lactate market in 2022.
Top 5 Major Key Players Are:
Corbion NV
Galactic
Vertec BioSolvents Inc
Musashino Chemical Laboratory Ltd
Godavari Biorefineries Ltd
Table Of Contents
1. Executive Summary
2. Ethyl Lactate Market Characteristics
3. Ethyl Lactate Market Trends And Strategies
4. Ethyl Lactate Market – Macro Economic Scenario
5. Ethyl Lactate Market Size And Growth
…….
26. Africa Ethyl Lactate Market
27. Ethyl Lactate Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ethyl Lactate Market
29. Ethyl Lactate Market Future Outlook and Potential Analysis
30. Appendix
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