Ethyl Lactate Market Scope & Volume Analysis with Executive Summary 2030

Future Global Ethyl Lactate Market: Key Dynamics, Size Share Analysis

The Global Ethyl Lactate Market size was valued at around USD 1,027 million in 2024 and is expected to reach USD 3,847 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 24.62% during the forecast period, i.e., 2025-30.

Top Driver Impacting the Global Ethyl Lactate Market Growth

Growing Preference for Biodegradable and Eco-friendly Chemicals – The growth is primarily driven by the rising adoption of biodegradable, more energy-efficient, and organic products globally due to the increasing prevalence of environmental hazards, such as environmental pollution produced by harmful petroleum-based chemicals. As per the US Environmental Protection Agency (2022), 50% of the pollution is created by the release of toxic industrial wastes in the country, and almost 90% is generated by the manufacturing sector. Also, over 40% of the industrial waste is causing pollution in countries like Germany, India, and China, contributing to a robust switch towards bio-based chemicals, including ethyl lactate. These concerns are increasing the market growth rate.

Consequently, many production units are expanding their manufacturing facilities and increasing their production capacity. For instance, a Chinese-based company called Henan Jindan Lactic Acid Technology Co., Ltd. has increased its production capacity to over 12,000 metric tons annually. Additionally, the annual production of Godavari Bio Refineries Ltd. (India) is about 10,000 metric tons. Also, a company in the United States called Vertec Bio Solvents Inc. has reached up to 15,000 metric tons of annual production of ethyl lactate. It shows that the overall production of ethyl lactate is significantly increasing globally.

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Understanding the Core Segments in the Ethyl Lactate Market

Ethyl Lactate Market Size, Share Industry Trends Analysis - By Grade (Food Grade, Medical Grade, Industrial Grade), By Application (Solvents, Additives, Fragrances, APIs Drug Carrier, Others), By End User (Paints Coatings, Food Beverages, Pharmaceutical, Personal Care Cosmetics) and Others

Geographical Analysis of the Smart Irrigation Market

-By Region

North America
South America
Europe
The Middle East and Africa
Asia-Pacific

Asia-Pacific holds the largest market share of more than 40%. The region is witnessing significant growth in industrial and infrastructural development in major countries like China, India, Indonesia, Japan, Thailand, South Korea, etc.

Who Dominates the Ethyl Lactate Market Insights on Key Industry Players?

Companies are strengthening their presence in the Ethyl Lactate market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services

Corbion N.V.
Galactic
Godavari Biorefineries
Musashino Chemical Laboratory
Vertec BioSolvents
Yancheng Hongtai Bioengineering
Huade Biological Ltd
Huan Kangyuan
Shenzhen Esun Industrial
Haijianuo Bioengineer
Stepan
Archer Daniels Midland Co (ADM)
Aurochemicals
Others

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