Ethyl Lactate Market Set to Grow at 24.62% CAGR by 2030

Ethyl Lactate Market Set to Grow at 24.62% CAGR by 2030 – MarkNtel

Posted 2025-11-04 06:54:03

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

As per MarkNtel Advisors 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.

Global Ethyl Lactate Market Drivers:

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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Ethyl Lactate Market Systems Market Segmentation:

-By Grade

Food Grade- Market Size & Forecast 2020-2030, Thousand Tons
Medical Grade- Market Size & Forecast 2020-2030, Thousand Tons
Industrial Grade- Market Size & Forecast 2020-2030, Thousand Tons

-By Application

Solvents- Market Size & Forecast 2020-2030, Thousand Tons
Additives- Market Size & Forecast 2020-2030, Thousand Tons
Fragrances- Market Size & Forecast 2020-2030, Thousand Tons
APIs & Drug Carrier- Market Size & Forecast 2020-2030, Thousand Tons
Others- Market Size & Forecast 2020-2030, Thousand Tons

-By End User

Paints & Coatings- Market Size & Forecast 2020-2030, Thousand Tons
Food & Beverages- Market Size & Forecast 2020-2030, Thousand Tons
Pharmaceutical- Market Size & Forecast 2020-2030, Thousand Tons
Personal Care & Cosmetics- Market Size & Forecast 2020-2030, Thousand Tons
Others- Market Size & Forecast 2020-2030, Thousand Tons

Geographical Analysis of the Ethyl Lactate 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. It has contributed to the high demand for Ethyl Lactate chemicals.

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Ethyl Lactate Market Recent Development:

2025: Corbion N.V. announced the development of a new, energy-efficient production process for ethyl lactate. This process utilizes a novel catalyst and improved heat integration techniques, aiming to reduce energy consumption while maintaining the high purity standards required for ethyl lactate.
2024: Godavari Biorefineries Ltd. announced a substantial investment of approximately USD15 million to establish a new 200 KLPD corn/grain-based distillery. This facility, slated for commissioning in Q4 FY 2026, aims to bolster the company's ethanol production capabilities, providing greater flexibility through dual-feedstock processing. This move aligns with India's green energy goals and supports the production of bio-based chemicals like ethyl lactate.

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Report Highlights Essential Insights for Strategic Decision-Making

Detailed market size, share, and forecast analysis
In-depth pricing trends and segment-wise cost evaluations
Key industry strategies, including innovation, partnerships, and acquisitions
Critical value chain analysis and stakeholder profiling
Regional import-export market insights and trade flow assessment
Thorough competitive benchmarking of top hearing aid manufacturers
Identification of new growth opportunities and niche market segments
Overview of market trends, drivers, and challenges shaping future demand

Some of the leading players in the Ethyl Lactate Market are:

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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Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

Define objectives and research design
Collect data through surveys and interviews
Analyze and validate data using reliable tools
Forecast trends and deliver actionable insights

About us:

MarkNtel Advisors is a premier Market Research Company specializing in the chemical industry, covering specialty chemicals, petrochemicals, industrial chemicals, and chemical processing technologies. As an expert provider of Customized Market Research Reports and Syndicated Research Reports, we deliver data-backed intelligence at global, regional, and country levels. Our in-depth Market Research evaluates production capacities, pricing trends, and innovation pipelines, helping manufacturers, distributors, and investors optimize strategic decisions. Supported by Export and Import Data and robust Market Forecast modeling, our reports uncover growth patterns and market behavior with precision. Through advanced Business Research and analytical rigor, we help clients quantify Revenue Impact and identify competitive advantages. We combine domain expertise with actionable Consulting Services to ensure measurable success in the evolving global chemicals ecosystem.