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Lactic Acid Ester Market

Lactic Acid Ester Market by Type (Methyl lactate, Ethyl lactate, Butyl lactate, others), and End Use Industry (Pharmaceutical, Cosmetics & Personal Care, Electronics, Food & Beverage, Agrochemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A14985
Pages: 322
Dec 2021 | 174 Views
   
Author(s) : Sushant Moon, Amit Narune , Eswara Prasad
Tables: 154
Charts: 56
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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The lactic acid ester market was valued at $564.9 million in 2020, and is projected to reach $803.7 million by 2030, growing at a CAGR of 3.6% from 2021 to 2030.

The food industry witness increased sales and profit. The consumers were increasing inventories as much as possible in March 2020 i.e., the initial phase of pandemic. This increased demand for lactic acid esters from food industry. On the other hand, lactic acid & derivatives, witnessed some negative impact COVID-19 impact in markets such as bio materials for medical devices.

Lactic acid ester is one of the major bio solvents. It is manufactured using lactic acid. The lactic acid is manufactured from natural raw materials such as sugar, beet, sugar cane, and maize. The lactic acid is then converted into ester through esterification process.

Lactic-Acid-Ester-Marktet

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Factors such as increased demand for lactate esters from electronics industry, and increased awareness regarding bio solvents propel the growth of the market globally. The popularity of lactic acid ester has increased in developed regions such as North America and Europe because of which it is expected to replace other traditional solvents in majority of the industries. However, the presence of alternatives i.e., petrochemicals solvents is one of the major restraints for the market globally. In addition, the price competition from petrochemical solvents is one of the factors hindering the lactic acid ester market growth. 

 The lactic acid ester market is segmented on the basis of type, end use industry, and region. By type, the market is classified into methyl lactate, ethyl lactate, butyl lactate, and others. By end use industry, the lactic acid     ester industry is categorized into pharmaceutical, cosmetics & personal care, electronics, food & beverage, agrochemical, and others. The report further outlines the details about the revenue generated through the sale     of lactic acid ester across North America, Europe, Asia-Pacific, and LAMEA. The lactic acid ester market share is analyzed across all significant countries and regions in terms of volume and revenue.

North America is expected to have a significant share in the lactic acid ester market in 2020. Increased awareness of bio solvents in emerging markets is expected to boost the demand for lactic acid esters in Asia-Pacific.

The lactic acid ester market analysis covers in-depth information of the major industry participants. Some of the major players in the lactic acid ester market include the market include Corbion, Stepan, Jindan, Musashino, Shandong Enno, Shenzhen eSUN, Vertec, Galactic, Yancheng Huade and Zhengzhou.

Other player operating in the lactic acid ester market are Archer-Daniels-Midland Company, Qingdao Abel Technology Co. Ltd., Globally, Purac, Cargill and Synbra Technology B.V.

Lactic Acid Ester Market, by Type

The ethyl lactate segment is expected to grow at a 3.7% rate of CAGR in terms of revenue during the forecast period. This is attributed to its excellent solvent properties, biodegradable, and nontoxic nature. It is utilized in numerous sectors with general application such as perfumery, food additive, and others.

Lactic Acid Ester Market
By Type

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Ethyl Lactate is projected as the most lucrative segment.

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Lactic Acid Ester Market, by End Use Industry

The food & beverages industry accounted for the largest share i.e., 21.9% and electronics industry are the fastest growing segment, growing around 4.1% CAGR during the forecast period, in terms of revenue. This is attributed to increase in use of lactic acid esters as food additives in food industry. In addition, the rise in electronics industry and increased demand for lactic acid ester for microelectronics application is expected to boost the market growth during the forecast period.

Lactic Acid Ester Market
By End Use Industry

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Electronics is projected as the most lucrative segment.

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Lactic Acid Ester Market, by Region

North America contributed the 33.5% market share in 2020 and is projected to grow at CAGR of 4.6% during the forecast period in terms of volume. Asia-Pacific is the fastest growing region, growing at around 5.1% CAGR during the forecast period in terms of volume. This is attributed to rise in demand from numerous end-use industries such as food & beverage, electronics, agrochemicals, pharmaceutical, and others.

Lactic Acid Ester Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America holds a dominant position in 2020 and Asia-Pacific is expected to grow at fastest growth rate during the forecast period.

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Key Benefits For Stakeholders

  • The report provides in-depth analysis of the market along with the current trends and future estimations. 
  • The lactic acid ester market size is provided in terms of volume and revenue.
  • This report highlights the key drivers, market opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the market for strategy building.
  • A comprehensive lactic acid ester market analysis covers the factors that drive and restrain the market growth.
  • The qualitative data about market dynamics, market trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Lactic Acid Ester Market

  • The outbreak of COVID-19 in China and its spread across numerous countries around the world halted the manufacturing activities of industrial sectors, which correspondingly hampered lactic acid ester manufacturing as well.
  • The raw material procurement was also challenged owing to outbreak of COVID-19.
  • The COVID-19 pandemic is expected to have significant impacts on industrial participants operations, indirectly and directly with respect to customer behaviors, labor shortages or stoppages, inventory, sales, business and manufacturing operations, and others. 
  • As per the companies operating in the market, there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause. 
  • Manufacturing as well as the supply regions witnessed economic slowdown owing to lockdown.
  • The food industry witness increased sales and profit. The consumers were increasing inventories as much as possible in March 2020 i.e., the initial phase of pandemic. This increased demand for lactic acid esters from food industry.
  • On the other hand, lactic acid & derivatives, witnessed some negative impact COVID-19 impact in markets such as biomaterials for medical devices. 
  • The COVID-19 pandemic further boosted demand for chips in laptops and data centers, because of sudden increase in activities such as internet shopping, gaming, conference calling, and work from home. This resulted in increased demand for lactic acid esters-based solvents from electronics industry. 

Key Market Segments

  • By Type
    • Methyl lactate
    • Ethyl lactate
    • Butyl lactate
    • Others
  • By End Use Industries
    • Pharmaceutical
    • Cosmetics & Personal Care
    • Electronics
    • Food & Beverage
    • Agrochemical
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • The Netherlands
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • LAMEA
      • Brazil
      • UAE
      • Saudi Arabia
      • South Africa
      • Rest of LAMEA 
  • KEY MARKET PLAYERS
    • Corbion NV
    • Stepan
    • Jindan
    • Musashino
    • Shandong Enno
    • Shenzhen eSUN
    • Vertec Bio solvents
    • Galactic
    • Yancheng Huade
    • Zhengzhou
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.Key findings

2.2.1.Top investment pockets

2.3.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key forces shaping the lactic acid ester market

3.2.1.Bargaining power of the suppliers
3.2.2.Bargaining power of the buyers
3.2.3.Threat of new entrants
3.2.4.Threat of substitutes
3.2.5.Competitive rivalry

3.3.Market dynamics

3.3.1.Drivers

3.3.1.1.Increased demand from food & beverages industry
3.3.1.2.Increased demand for pharmaceutical and cosmetics industry

3.3.2.Restraint

3.3.2.1.Harmful effect associated with the usage of lactic acid ester

3.3.3.Opportunity

3.3.3.1.Increase in inclination toward use of green solvent

3.4.Value chain
3.5.Patent Analysis
3.6.Pricing Analysis
3.7.Impact of COVID-19 outbreak on the lactic acid ester market

CHAPTER 4:LACTIC ACID ESTER MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Methyl lactate

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.Ethyl lactate

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

4.4.Butyl lactate

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region
4.5.3.Market analysis, by country

CHAPTER 5:LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY

5.1.Overview

5.1.1.Market size and forecast

5.2.Pharmaceutical

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Cosmetic & Personal Care

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

5.4.Electronics

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

5.5.Food & Beverages

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country

5.6.Agrochemical

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country

5.7.Others

5.7.1.Key market trends, growth factors, and opportunities
5.7.2.Market size and forecast, by region
5.7.3.Market analysis, by country

CHAPTER 6:LACTIC ACID ESTER MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by type
6.2.3.Market size and forecast, by end-use industry
6.2.4.Market size and forecast, by country

6.2.4.1.U.S.

6.2.4.1.1.Market size and forecast, by type
6.2.4.1.2.Market size and forecast, by end-use industry

6.2.4.2.Canada

6.2.4.2.1.Market size and forecast, by type
6.2.4.2.2.Market size and forecast, by end-use industry

6.2.4.3.Mexico

6.2.4.3.1.Market size and forecast, by type
6.2.4.3.2.Market size and forecast, by end-use industry

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by type
6.3.3.Market size and forecast, by end-use industry
6.3.4.Market size and forecast, by country

6.3.4.1.Germany

6.3.4.1.1.Market size and forecast, by type
6.3.4.1.2.Market size and forecast, by end-use industry

6.3.4.2.France

6.3.4.2.1.Market size and forecast, by type
6.3.4.2.2.Market size and forecast, by end-use industry

6.3.4.3.UK

6.3.4.3.1.Market size and forecast, by type
6.3.4.3.2.Market size and forecast, by end-use industry

6.3.4.4.Italy

6.3.4.4.1.Market size and forecast, by type
6.3.4.4.2.Market size and forecast, by end-use industry

6.3.4.5.The Netherlands

6.3.4.5.1.Market size and forecast, by type
6.3.4.5.2.Market size and forecast, by end-use industry

6.3.4.6.Rest of Europe

6.3.4.6.1.Market size and forecast, by type
6.3.4.6.2.Market size and forecast, by end-use industry

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by type
6.4.3.Market size and forecast, by end-use industry
6.4.4.Market size and forecast, by country

6.4.4.1.China

6.4.4.1.1.Market size and forecast, by type
6.4.4.1.2.Market size and forecast, by end-use industry

6.4.4.2.Japan

6.4.4.2.1.Market size and forecast, by type
6.4.4.2.2.Market size and forecast, by end-use industry

6.4.4.3.INDIA

6.4.4.3.1.Market size and forecast, by type
6.4.4.3.2.Market size and forecast, by end-use industry

6.4.4.4.South Korea

6.4.4.4.1.Market size and forecast, by type
6.4.4.4.2.Market size and forecast, by end-use industry

6.4.4.5.Australia

6.4.4.5.1.Market size and forecast, by type
6.4.4.5.2.Market size and forecast, by end-use industry

6.4.4.6.Rest of Asia-Pacific

6.4.4.6.1.Market size and forecast, by type
6.4.4.6.2.Market size and forecast, by end-use industry

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by type
6.5.3.Market size and forecast, by end-use industry
6.5.4.Market size and forecast, by country

6.5.4.1.Brazil

6.5.4.1.1.Market size and forecast, by type
6.5.4.1.2.Market size and forecast, by end-use industry

6.5.4.2.UAE

6.5.4.2.1.Market size and forecast, by type
6.5.4.2.2.Market size and forecast, by end-use industry

6.5.4.3.SAUDI ARABIA

6.5.4.3.1.Market size and forecast, by type
6.5.4.3.2.Market size and forecast, by end-use industry

6.5.4.4.South Africa

6.5.4.4.1.Market size and forecast, by type
6.5.4.4.2.Market size and forecast, by end-use industry

6.5.4.5.Rest of LAMEA

6.5.4.5.1.Market size and forecast, by type
6.5.4.5.2.Market size and forecast, by end-use industry

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.Introduction

7.1.1.Market player positioning, 2020

7.2.Competitive Heatmap
7.3.Product mapping of top 10 players

CHAPTER 8:COMPANY PROFILES

8.1.CORBION NV

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating business segments
8.1.4.Product portfolio
8.1.5.Business performance

8.2.Stepan

8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Operating business segments
8.2.4.Product portfolio
8.2.5.Business performance

8.3.Shenzhen eSUN Industrial Co., Ltd.

8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Product portfolio

8.4.Shandong Enno New Material Co., Ltd.

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Product portfolio

8.5.HENAN JINDAN

8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Product portfolio

8.6.MUSASHINO CHEMICAL LABORATORY, LTD.

8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Product portfolio

8.7.VERTEC BIOSOLVENTS INC.

8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Product portfolio

8.8.GALACTIC

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Product portfolio

8.9.YANCHENG HUADE (DANCHENG) BIOLOGICAL ENGINEERING CO., LTD.

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Product portfolio

8.10.Zhengzhou Tianrun Lactic Acid Co., Ltd.

8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Product portfolio

LIST OF TABLES

TABLE 01.LACTIC ACID ESTER MARKET, BY TYPE, 2021–2030 (TONS)
TABLE 02.LACTIC ACID ESTER MARKET, BY TYPE, 2021–2030 ($MILLION)
TABLE 03.METHYL LACTATE MARKET, BY REGION, 2021–2030 ($MILLION)
TABLE 04.METHYL LACTATE MARKET, BY REGION, 2021–2030 ($MILLION)
TABLE 05.ETHYL LACTATE MARKET, BY REGION, 2021–2030 (TONS)
TABLE 06.ETHYL LACTATE MARKET, BY REGION, 2021–2030 ($MILLION)
TABLE 07.BUTYL LACTATE MARKET, BY REGION, 2021–2030 (TONS)
TABLE 08.BUTYL LACTATE MARKET, BY REGION, 2021–2030 ($MILLION)
TABLE 09.OTHER LACTIC ACID ESTER MARKET, BY REGION, 2021–2030 (TONS)
TABLE 10.OTHER LACTIC ACID ESTER MARKET, BY REGION, 2021–2030 ($MILLION)
TABLE 11.LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2021–2030 (TONS)
TABLE 12.LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2021–2030 ($MILLION)
TABLE 13.LACTIC ACID ESTER MARKET FOR PHARMACEUTICAL, BY REGION, 2020–2030 (TONS)
TABLE 14.LACTIC ACID ESTER MARKET FOR PHARMACEUTICAL, BY REGION, 2020–2030 ($MILLION)
TABLE 15.LACTIC ACID ESTER MARKET FOR COSMETICS, BY REGION, 2020–2030 (TONS)
TABLE 16.LACTIC ACID ESTER MARKET FOR COSMETICS, BY REGION, 2020–2030 ($MILLION)
TABLE 17.LACTIC ACID ESTER MARKET FOR ELECTRONICS, BY REGION, 2020–2030 (TONS)
TABLE 18.LACTIC ACID ESTER MARKET FOR ELECTRONICS, BY REGION, 2020–2030 ($MILLION)
TABLE 19.LACTIC ACID ESTER MARKET FOR FOOD & BEVERAGES, BY REGION, 2020–2030 (TONS)
TABLE 20.LACTIC ACID ESTER MARKET FOR FOOD & BEVERAGES, BY REGION, 2020–2030 ($MILLION)
TABLE 21.LACTIC ACID ESTER MARKET FOR AGROCHEMICAL, BY REGION, 2020–2030 (TONS)
TABLE 22.LACTIC ACID ESTER MARKET FOR AGROCHEMICAL, BY REGION, 2020–2030 ($MILLION)
TABLE 23.LACTIC ACID ESTER MARKET FOR OTHER END USE INDUSTRY, BY REGION, 2020–2030 (TONS)
TABLE 24.LACTIC ACID ESTER MARKET FOR OTHER END USE INDUSTRY, BY REGION, 2020–2030 ($MILLION)
TABLE 25.LACTIC ACID ESTER MARKET, BY REGION, 2020–2030 (TONS)
TABLE 26.LACTIC ACID ESTER MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 27.NORTH AMERICA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 28.NORTH AMERICA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 29.NORTH AMERICA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 30.NORTH AMERICA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 31.NORTH AMERICA LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 (TONS)
TABLE 32.NORTH AMERICA LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 33.U.S. LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 34.U.S. LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 35.U.S. LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 36.U.S. LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 37.CANADA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 38.CANADA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 39.CANADA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 40.CANADA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 41.MEXICO LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 42.MEXICO LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 43.MEXICO LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 44.MEXICO LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 45.EUROPE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 46.EUROPE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 47.EUROPE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 48.EUROPE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 49.EUROPE LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 50.EUROPE LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 51.GERMANY LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 52.GERMANY LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 53.GERMANY LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 54.GERMANY LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 55.FRANCE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 56.FRANCE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 57.FRANCE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 58.FRANCE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 59.UK LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 60.UK LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 61.UK LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 62.UK LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 63.ITALY LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 64.ITALY LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 65.ITALY LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 66.ITALY LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 67.NETHERLAND LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 68.NETHERLAND LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 69.NETHERLAND LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 70.NETHERLAND LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 71.REST OF EUROPE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 72.REST OF EUROPE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 73.REST OF EUROPE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 74.REST OF EUROPE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 75.ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 76.ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 77.ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 78.ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 79.ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 (TONS)
TABLE 80.ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 81.CHINA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 82.CHINA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 83.CHINA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 84.CHINA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 85.JAPAN LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 86.JAPAN LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 87.JAPAN LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 88.JAPAN LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 89.INDIA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 90.INDIA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 91.INDIA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 92.INDIA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 93.SOUTH KOREA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 94.SOUTH KOREA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 95.SOUTH KOREA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 96.SOUTH KOREA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 97.AUSTRALIA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 98.AUSTRALIA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 99.AUSTRALIA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 100.AUSTRALIA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 101.REST OF ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 102.REST OF ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 103.REST OF ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 104.REST OF ASIA-PACIFIC LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 105.LAMEA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 106.LAMEA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 107.LAMEA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 108.LAMEA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 109.LAMEA LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 (TONS)
TABLE 110.LAMEA LACTIC ACID ESTER MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 111.BRAZIL LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 112.BRAZIL LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 113.BRAZIL LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 114.BRAZIL LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 115.UAE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 116.UAE LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 117.UAE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 118.UAE LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 119.SAUDI ARABIA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 120.SAUDI ARABIA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 121.SAUDI ARABIA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 122.SAUDI ARABIA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 123.SOUTH AFRICA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 124.SOUTH AFRICA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 125.SOUTH AFRICA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 126.SOUTH AFRICA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 127.REST OF LAMEA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 (TONS)
TABLE 128.REST OF LAMEA LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 129.REST OF LAMEA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 (TONS)
TABLE 130.REST OF LAMEA LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2020–2030 ($MILLION)
TABLE 131.CORBION NV: COMPANY SNAPSHOT
TABLE 132.CORBION NV: OPERATING SEGMENTS
TABLE 133.CORBION NV: PRODUCT PORTFOLIO
TABLE 134.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 135.STEPAN: COMPANY SNAPSHOT
TABLE 136.STEPAN: OPERATING SEGMENTS
TABLE 137.STEPAN: PRODUCT PORTFOLIO
TABLE 138.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 139.SHENZHEN: COMPANY SNAPSHOT
TABLE 140.SHENZHEN: PRODUCT PORTFOLIO
TABLE 141.NVENT: COMPANY SNAPSHOT
TABLE 142.NVENT: PRODUCT PORTFOLIO
TABLE 143.JINDAN EUROPE: COMPANY SNAPSHOT
TABLE 144.JINDAN EUROPE: PRODUCT PORTFOLIO
TABLE 145.MUSASHINO: COMPANY SNAPSHOT
TABLE 146.MUSASHINO: PRODUCT PORTFOLIO
TABLE 147.VERTEC BIOSOLVENTS: COMPANY SNAPSHOT
TABLE 148.VERTEC BIOSOLVENTS INC.: PRODUCT PORTFOLIO
TABLE 149.GALACTIC : COMPANY SNAPSHOT
TABLE 150.GALACTIC: PRODUCT PORTFOLIO
TABLE 151.YANCHENG HUADE BIOLOGICAL ENGINEERING CO.,LTD. : COMPANY SNAPSHOT
TABLE 152.YANCHENG HUADE BIOLOGICAL ENGINEERING CO.,LTD.: PRODUCT PORTFOLIO
TABLE 153.ZHENGZHOU TIANRUN LACTIC ACID CO., LTD. : COMPANY SNAPSHOT
TABLE 154.ZHENGZHOU TIANRUN LACTIC ACID CO., LTD.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.LACTIC ACID ESTER MARKET SNAPSHOT, BY SEGMENTION, 2021-2030
FIGURE 03.LACTIC ACID ESTER MARKET SNAPSHOT, BY COUNTRY, 2021-2030
FIGURE 04.TOP INVESTMENT POCKETS, BY COUNTRY
FIGURE 05.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 06.MODERATE BARGAINING POWER OF BUYERS
FIGURE 07.MODERATE THREAT OF NEW ENTRANTS
FIGURE 08.MODERATE THREAT OF SUBSTITUTES
FIGURE 09.MODERATE INTENSITY OF RIVALRY
FIGURE 10.GLOBAL LACTIC ACID ESTER MARKET DYNAMICS
FIGURE 11.LACTIC ACID ESTER MARKET: VALUE CHAIN
FIGURE 12.LACTIC ACID ESTER MARKET: PATENT ANALYSIS BY COUNTRY
FIGURE 13.LACTIC ACID ESTER MARKET: PRICING ANALYSIS BY REGION
FIGURE 14.LACTIC ACID ESTER MARKET: PRICING ANALYSIS BY TYPE
FIGURE 15.LACTIC ACID ESTER MARKET, BY TYPE, 2020–2030 ($MILLION)
FIGURE 16.COMPARATIVE ANALYSIS OF METHYL LACTATE MARKET, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 17.COMPARATIVE ANALYSIS OF ETHYL LACTATE  MARKET, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 18.COMPARATIVE ANALYSIS OF BUTYL LACTATE MARKET, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 19.COMPARATIVE ANALYSIS OF OTHER LACTIC ACID ESTER MARKET, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 20.LACTIC ACID ESTER MARKET, BY END-USE INDUSTRY, 2021–2030 ($MILLION)
FIGURE 21.COMPARATIVE ANALYSIS OF LACTIC ACID ESTER MARKET FOR PHARMACEUTICAL, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 22.COMPARATIVE ANALYSIS OF LACTIC ACID ESTER MARKET FOR COSMETICS AND PERSONAL CARE, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 23.COMPARATIVE ANALYSIS OF LACTIC ACID ESTER MARKET FOR ELECTRONICS, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 24.COMPARATIVE ANALYSIS OF LACTIC ACID ESTER MARKET FOR FOOD & BEVERAGES, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 25.COMPARATIVE ANALYSIS OF LACTIC ACID ESTER MARKET FOR AGROCHEMICAL, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 26.COMPARATIVE ANALYSIS OF LACTIC ACID ESTER MARKET FOR OTHER END USE INDUSTRY, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 27.LACTIC ACID ESTER MARKET, BY REGION, 2020–2030 ($MILLION)
FIGURE 28.U.S. LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 29.CANADA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 30.MEXICO LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 31.GERMANY LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 32.FRANCE LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 33.UK LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 34.ITALY LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 35.THE NETHERLANDS LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 36.REST OF EUROPE LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 37.CHINA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 38.JAPAN LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 39.INDIA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 40.SOUTH KOREA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 41.AUSTRALIA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 42.REST OF ASIA-PACIFIC LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 43.BRAZIL LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 44.UAE LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 45.SAUDI ARABIA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 46.SOUTH AFRICA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 47.REST OF LAMEA LACTIC ACID ESTER MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 48.MARKET PLAYER POSITIONING, 2020
FIGURE 49.COMPETITIVE HEATMAP
FIGURE 50.PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 51.CORBION NV: NET SALES, 2018–2020 ($MILLION)
FIGURE 52.CORBION NV: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 53.CORBION NV: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 54.STEPAN: NET SALES, 2018–2020 ($MILLION)
FIGURE 55.STEPAN: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 56.STEPAN: REVENUE SHARE, BY REGION, 2020 (%)

 
 

According to the analyst, the lactic acid ester market is anticipated to witness growth during the forecast period, driven by increased demand from end-use industries. Lactic acid ester is being used in many cosmetic and personal care products, such as skin care, shampoo, lotions, and others. In addition, lactic acid is used in many end use industries, like pharmaceutical, electronics, agrochemical, paint & ink. These factors are projected to boost the demand for lactic acid ester.

However, harmful effect associated with the usage of lactic acid ester can have a restraining effect on the growth of the market. In addition, the lactic acid ester market's growth may be hampered by the fluctuating prices of raw material and the government's strict rules against chemical industries. Development in production technology to meet the increase in demand owing to the rise in population and surge in demand for bio solvents from various end use industries is projected to provide growth lucrative opportunities for the lactic acid ester market during the forecast period.

 

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A. Factors such as increased demand for lactate esters from electronics industry, and increased awareness regarding bio solvents is propelling the growth of the market globally.

A. • The lactic acid ester market was valued at $564.9 million in 2020, and is projected to reach $803.7 million by 2030, growing at a CAGR of 3.6% from 2021 to 2030.

A. • Corbion NV • Stepan • Vertec Bio solvents are some of the major players in the lactic acid ester market.

A. • Electronic industry is projected to increase the demand for lactic acid ester owing to the increase demand for bio solvents.

A. By Type • Methyl lactate • Ethyl lactate • Butyl lactate • Other By End-Use industry • Pharmaceutical • Cosmetics & Personal care • Electronics • Food & Beverages • Agrochemical • Others

A. • Increased demand from food & beverage, pharmaceutical and cosmetic & personal care industry are main driver of lactic acid ester market.

A. • The electronics and pharmaceutical industry are some of the industries from which the adoption of lactic acid ester is expected to increase during the forecast period.

A. • Lactic acid ester witnessed some negative COVID-19 impact in markets such as biomaterials for medical devices, however there is increase in demand for chips in laptops and data centers, because of sudden increase in activities such as internet shopping, gaming, conference calling, and work from home. This resulted in increased demand for lactic acid esters-based solvents from electronics industry.

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