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Lactic Acid Ester Market in the North America Explores New Growth Opportunities from 2019 to 2025

Author : Ronak Bora | Published Date : 2019-04-16 

The qualitative research study introduced by Global Market Insights, Inc. on Lactic Acid Ester Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the industry.

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 industry 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.

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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 industry 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.

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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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.

 

Browse Full Report @ https://www.gminsights.com/industry-analysis/lactic-acid-ester-market

 

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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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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