Ethyl Lactate Market to Witness a Pronounce Growth 2022: Vertec BioSolvents, Yancheng Huade Biological Engineering Co. Ltd., Henan Jindan Lactic Acid Technology Co., Ltd, Zhengzhou Tianrun Lactic Acid Co., Ltd., Shenzhen Esun Industrial Co. Ltd

CMR Offers an Extensive Research Study on the Global Ethyl Lactate Market, And Its Entire Ecosystem, Describes the Market Trends, Drivers, Restraints And Opportunities Of The Ethyl Lactate Market.

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.

Competitive Insights 2018:
Global ethyl lactate market share is subtly separated due to the predominance of huge number of small and medium sized industry players. The major market players of this industry are Corbion, Galactic (a subsidiary of Finasurce SA), ADM, Musashino Chemical Laboratory, Ltd., Vertec BioSolvents, Yancheng Huade Biological Engineering Co. Ltd., Henan Jindan Lactic Acid Technology Co., Ltd, Zhengzhou Tianrun Lactic Acid Co., Ltd., Shenzhen Esun Industrial Co. Ltd. and QINGDAO ABEL TECHNOLOGY CO., LTD.

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Industry Outlook and Trend Analysis:

Ethyl lactate or otherwise termed as lactic acid ethyl ester is a monobasic ester which is formed from ethanol and lactic acid. It the most common solvent in cosmetic, pharmaceutical, coatings, detergents, fragrance and food production. Chemicals are distinctive substances or compounds, which are generally produced by reactions which involve alterations in molecular and atomic structure.

Based on the composition, every chemical including ethyl lactate can be either mixtures or pure substances. Ethyl lactate is considered biodegradable and it can be used as a water-rinsable degreaser. There is a global demand for this chemical and also the fact that it is naturally available in small amounts is variety of foods including chicken, wine, and several fruits. When dilute, ethyl lactate has a mild odor, creamy and buttery along with hints of coconut and fruit.

This compound is produced from biological sources, in the form of either dextro (R) or levo (S), based on the organism which is the source of the lactic acid. Majority of the ethyl lactate which is sourced biologically is ethyl (−)-L-lactate (ethyl (S)-lactate). Besides, this chemical compound is also produced industrially from petrochemical stocks, and comprises of the racemic mixture of dextro and levo forms. In a few territories, the natural substance is exempted from several constraints situated upon disposal and use of solvents. Since the enantiomers are present in nature, and as ethyl lactate is effortlessly biodegradable, it comes under green solvent. This is also one of the major factors that the market demand for ethyl lactate is said to grow during the forecast period.

Application Outlook and Trend Analysis:

The global Ethyl lactate market industry has its applications in widespread segments such as paints & inks, food and beverage, electronics and pharmaceuticals. It proves to be an excellent ingredient for developing coatings, inks, paint strippers, resin cleaners, ink cleaners, graffiti removers, etc. It is used in industrial coatings applications, mainly in extrusions, coil, containers and closures, wood furniture and fixtures, machinery and automotive finishes.

Since it is completely biodegradable, it is cost effective and easy to recycle. It is also used in food and beverage flavoring as it is almost colorless and has a mildly pleasant smell. It is used to soften products such as biscuits and bread. Ethyl lactate is extensively used in wipe cleaning of aircraft, electronic circuit board cleaning, especially microelectronics and semiconductors to clean plasma etch residues. Lastly, it is freely purified since it is produced from renewable and natural sources. It is permitted by the FDA as an adjuvant solubilizing ingredient for pharmaceutical dyes and flavors. Ethyl lactate comprises of food grade and industrial grade which represents 29% and 49% of the global ethyl lactate market respectively.

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The Ethyl Lactate Market is segmented as follows-
Ethyl Lactate Market, By Product, Estimates and Forecast, 2012-2022 ($Million)
• Industrial Grade Ethyl Lactate
• Food Grade Ethyl Lactate
• Pharmaceutical Grade Ethyl Lactate
• Electronic Grade Ethyl Lactate

Ethyl Lactate Market, By Application, Estimates and Forecast, 2012-2022 ($Million)
• Electronics
• Food & Beverage
• Pharmaceutical
• Paints & Inks
• Other Applications

Regional Outlook:
On a global front, the Ethyl Lactate Market covers North America (United States, Canada and Mexico), Europe (Germany, UK, France, Russia, Italy, Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific), South America (Brazil, Argentina, Columbia, Rest of South America) and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA).

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