Global Propyl Lactate Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Propyl lactate is termed as a propyl ester of natural lactic acid that is formed by fermentation from sugar. It is also known as Propanoic acid, 2-hydroxy-, propyl ester; N-propyl lactate, propyl 2-hydroxypropanoate. Its molecular formula is C6H12O3 and molecular weight is 132.159 g/mol. It is colorless and clear liquid with a mild odor and low volatility. At room temperature, it is soluble in water as well as organic solvents. It is exclusively used as a flavoring agent and food additive. The 2D chemical structure of Propyl lactate is known as a skeletal formula. On the other hand, the 3D chemical structure is known as a ball-and-stick model.
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Propyl Lactate Market is segmented based on product types, applications, and region. Product types such as L-Type Propyl Lactate and D-Type Propyl Lactate classify Propyl Lactate Industry. Applications into Electronics, Paints & Inks, Agrochemicals, and others classify this Market. Propyl Lactate Market is segmented geographically into Americas (North America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa.
Globally, Asia Pacific accounts for the largest market share of Propyl Lactate Market and is estimated to lead the overall market in the years to come. The reason being, the presence of key manufacturers in the region. The developing regions like China and India are the major consumers of Propyl Lactate Industry in this region, as rising demand from electronics, agrochemicals sectors.
The key players of Propyl Lactate Market are PianguanShenxia, Galactic, Yibang Industry & Commerce, and Huade Biological Engineering. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Propyl Lactate in these regions, from 2012 to 2022 (forecast), covering
- North America
- Southeast Asia
Global Propyl Lactate market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- Huade Biological Engineering
- Yibang Industry & Commerce
- Pianguan Shenxia
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- D Type
- L Type
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Propyl Lactate for each application, including
- Paints & Inks
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